Blockdaemon, a firm focused on blockchain infrastructure, connects institutions to crypto networks, and Konstantin Richter, Blockdaemon's CEO, recently spoke to Roundtable anchor Rob Nelson about the company's scope and services.

“We connect institutions to crypto networks, and we’re the largest operator of nodes in the world,” Richter explained. Blockdaemon says it operates 185,000 nodes, facilitating bitcoin transactions and other crypto activities for institutional clients.

When asked about the extent of services passed down to retail users, Richter clarified that Blockdaemon primarily serves institutions. Companies like Coinbase, Binance, JP Morgan, and Goldman Sachs rely on Blockdaemon to participate in crypto. They offer various solutions, including wallet architecture, transaction networks, and staking services.

Nelson inquired if Blockdaemon had plans to develop retail products. Richter responded that Blockdaemon remains focused on B2B (business-to-business) services. They run infrastructure for institutions, and the company holds a significant market share in this sector. “We have around 50% to 70% market share on the institutional layer,” Richter said.

Blockdaemon categorizes its institutional clients into four groups: exchanges, custodians, traditional finance (TradFi), and fintech (financial technology). The company works with top global banks like Goldman Sachs, Citibank, and JP Morgan, who are also major shareholders. They also collaborate with fintech giants such as PayPal, Robinhood, Microsoft, Google, Fidelity, and Bank of New York.

“We’re the only crypto company that has three of the top 10 global banks as major shareholders,” Richter said.