Blockdaemon acquires Sepior, a digital-asset security specialist

Blockdaemon, the infrastructure blockchain company focused on institutional investors, has acquired Danish startup Sepior.

We’re excited to have Sepior join the #Blockdaemon family. Get the insider take on our latest announcement on the Blockdaemon Blog 😈 https://t.co/r6RbTlE4Hv

— Blockdaemon 📍EthCC Paris (@BlockdaemonHQ) July 20, 2022

The financial terms of the acquisition of the firm specialising in digital-asset security have not been disclosed.

It is expected that Sepior’s technology for securing cryptographic keys will enable on a single platform the integration of transaction management, node operations and liquid staking via a non-custodial solution.

The integration of key management will link the platform’s various components, notably staking and its rebalancing. This will improve security and speed in the market for clients in the B2B2C segment, the statement said.

Sepior’s solutions are also designed to ease users’ connections to blockchains. In addition, the startup will offer custodial and non-custodial digital-asset wallet capabilities.

The startup’s MPC-based technologies address the problem of a single point of failure, faced by many crypto-key management services. Due to improper use of keys or theft in 2021, investors lost assets worth more than $3.2 billion, the company noted.

“The ability to securely store private keys is the cornerstone of the multi-billion‑dollar institutional crypto-finance industry,” said Blockdaemon founder and CEO Konstantin Richter.

The Sepior team joined the company, with former chief executive Ahmet Tunji leading the MPC Digital Asset Security division.

Blockdaemon said this is its fourth acquisition in two years, following Gem, Anyblock Analytics and Lunie.

Earlier, the company closed a Series C funding round of $207 million at a valuation of $3.25 billion.

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