A leading blockchain node infrastructure platform, Blockdaemon recently announced its acquisition of Gem for undisclosed terms. Gem is a leading API company that offers fiat-to-crypto on-ramps and off-ramps as well as comprehensive trade data aggregation service.
The integration of Gem into Blockdaemon will allow the platform to use Gem’s products such as OnRamp Solution, Connect API, Know Your Client (KYC) and more.
Gem will also offer an extensive trade data aggregation service. The news comes after Blockdaemon’s recent $207 million Series C Funding Round with a post-money valuation of $3.25 billion.
“I am absolutely delighted to continue Gem’s journey at Blockdaemon, which has established itself as the leading infrastructure provider powering the crypto economy,” said Micah Winkelspecht, Gem Founder and CEO.
Blockdaemon allows its users to scale, stake, and deploy nodes for institutional-grade blockchain infrastructure. It currently supports 50+ blockchain networks on its infrastructure.
Users of Blockdaemon include Fortune 500 companies, banks, custodians, conducting a total of 3.8 billion transactions daily.
“By acquiring Gem, we further help institutions bridge the gap between users and the blockchain platforms that they host ”, states Blockdaemon’s Twitter.
Gem has embeddable UI flows and API’s. OnRamp solutions allow buying of 40+ cryptocurrencies from 125 countries. Connect will allow seamless transactions with 2000+ cryptocurrencies across several custodians and exchanges.
MEXC Global, a cryptocurrency service provider, similarly partnered with Alchemy Pay last year to integrate its services with the hybrid crypto-fiat payment gateway used by Alchemy.
