Wednesday, June 19, 2024
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Blockdaemon acquires crypto on-ramp company

Blockdaemon, a leading blockchain infrastructure platform, has acquired crypto on-ramp company Gem for an undisclosed term. Gem is an application programming interfaces (APIs) that provides fiat-to-crypto onramps and offramps, or bridges between fiat and digital assets. In addition, the company provides a trade data aggregation service as well as a know your customer (KYC) solution.

Users may stake, scale, and deploy nodes with institutional-grade security and monitoring using the Blockdaemon blockchain node infrastructure. The platform is mainly used by exchanges, custodians, crypto platforms, and financial institutions and supports over 50 blockchain networks.

Blockdaemon will integrate Gem’s embeddable user interface (UI) flows and API, which will let users acquire over 40 cryptocurrencies from 125 countries through on-ramp services utilised by decentralised finance platform Celsius and payments platform MoonPay.

“[Gem] makes it incredibly simple for users to accept cash from a place and link them to another payment or yield generating platform, similar to Stripe,” Richter, the Blockdaemon CEO and founder of Blockdaemon said, explaining why Blockdaemon made the deal.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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