tiger global and a jpmorgan unit have joined a blockchain firm’s funding round

Blockdaemon has received investment from jpmorgan chase strategic investments and tiger global management. decentralized finance is a new frontier for traditional financial organizations. nodes — the network’s participants or devices like computers — are managed by the company, which connects business parties to blockchains. over 40 blockchain networks are supported by blockdaemon. as a result, it is widely employed by crypto platforms and businesses alike. according to blockdaemon’s ceo, konstantin richter, blockdaemon’s nodes have grown 2,000 percent year-to-date.

according to john curtius, a partner at tiger global, the company’s quick expansion was a factor in its attractiveness as an investment. onyx by j.p. morgan’s blockchain division’s chief executive officer, umar farooq, said the appeal was in its “multi-layered strategy.” for regulatory and security reasons, blockdaemon is looking to hire cisos, compliance officers, and financial auditors. anyblock analytics, a german startup, was also acquired by the company on wednesday. in order to support non-fungible tokens, anyblock will assist blockdaemon.

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