Announcing Blockdaemon’s Acquisition of Sepior
Today, Blockdaemon is proud to announce the acquisition of Sepior, a leading data and digital asset security company focused on institutional-grade cryptographic key management and protection.
This marks the fourth acquisition in Blockdaemon’s portfolio to-date. It follows the successful onboarding of three innovative companies within two years, including Gem, Anyblock Analytics and Lunie.
In this blog post, we’ll highlight the reasons for Blockdaemon’s acquisition of Sepior.
Why Blockdaemon Acquired Sepior
Sepior furthers Blockdaemon’s mission of connecting institutions to blockchains with one integration.
Our complete tech platform, or ‘node stack’, is the bedrock of this mission. It grants financial institutions easy access to highly secure, high assurance blockchain infrastructure. This ‘node stack’ transforms any business into a blockchain business, by offering the tools to enable firms to start, grow and scale their crypto products and services. All with 99.9% uptime.
With the addition of Sepior, Blockdaemon institutional clients can now build hot and cold crypto wallet services, protect keys for dApps, and guarantee secure transaction signing. Integrated key-management weaves our different platform components together, specifically around automated staking/re-staking and bonding/unbonding. This enhances security, ease of use and speed to market for Blockdaemon’s B2B2C customers.
Today, Blockdaemon’s node stack supports the flow of data and value across dozens of financial institutions.
Now, Blockdaemon will add the ability to offer institutional customers custodial and non-custodial wallet solutions for digital assets.
How Sepior Adds Value to Blockdaemon’s Node Stack
Sepior is a pioneer in developing and applying advanced MPC algorithms to real-world problems.
Their offerings solve the ‘single point of failure’ problem that many digital asset management institutions face with private key theft or misuse. In 2021, this problem contributed to losses of more than $3.2B.
Sepior’s addition to Blockdaemon’s solution portfolio gives institutions a blockchain-agnostic, custodial or non-custodial, hardware independent solution for private key management use and storage.
Currently, hundreds of institutions use Sepior’s multi-party computation (MPC) key management and protection technology in their services. This is made available by either licensing it directly from Sepior, or through one of Sepior’s channel partners that offer institutional wallets and/or custody platforms.
With this acquisition, Blockdaemon now adds further value to clients with a complete security-as-a-service product suite of enterprise ready offerings. These offerings are designed to support institutional key management, complementing Blockdaemon’s suite of institutional blockchain infrastructure
Welcome, Sepior!
We welcome the Sepior team to Blockdaemon.
Sepior’s team is composed of renowned cryptographers and industry veterans that will be joining Blockdaemon’s team as part of the acquisition.
Through their years of experience, this team has developed best-in-class security solutions for institutions.
“We are thrilled to bring Sepior into the Blockdaemon family,” said Konstantin Richter, Blockdaemon Founder and CEO. “The ability to properly secure private keys is a cornerstone of the multi-billion dollar institutional crypto finance industry. With this acquisition we are now able to foster the distribution of trust, identity, and privacy of keys at scale.”
Blockdaemon is continuously strengthening its product offerings with compliance and security being a primary focus. Sepior’s technology adds a fifth layer to Blockdaemon’s risk mitigation strategy designed to protect institutional clients as they seamlessly connect to the blockchain economy.