Today, Blockdaemon is proud to announce the acquisition of Gem, a pioneer of crypto onramp technology and digital identity services. Gem offers a frictionless way for businesses to onboard crypto into their applications, letting developers connect crypto assets and users with just a few lines of code.
Through their developer friendly offerings, Gem elevates the crypto user experience for all.
In this blog post, we’ll highlight the reasons for Blockdaemon’s acquisition of Gem.
Why Blockdaemon Acquired Gem
In our Series C blog post, we touched on the importance of Blockdaemon’s mission.
This mission is to connect institutions to blockchains with one integration.
Our robust ‘node stack’ underpins this mission. It grants financial institutions seamless access to industry leading, high assurance blockchain infrastructure. Today, Blockdaemon’s node stack supports the flow of data and value across dozens of financial institutions and millions of customers. All with 99.99% uptime.
Our mission stands firm. Our node stack, however, constantly evolves and iterates over time. This relentless pursuit of perfection enables us to craft the best experience for our clients. Blockdaemon’s node stack delivers on the promise of our mission.
By acquiring Gem, we further enhance our strong stack of blockchain technology.
With this acquisition, Blockdaemon makes it even easier for institutions to connect both themselves and their customers to blockchains.
All with one single integration.
How Gem Adds Value to Blockdaemon’s Node Stack
Gem greatly complements Blockdaemon’s product suite.
Simultaneously, Gem furthers Blockdaemon’s goal of giving individuals greater economic opportunities. These opportunities stem, in part, from easy access to the world’s leading crypto networks.
The Need for Reliable Blockchain Infrastructure
As blockchain adoption grows, there is a strong demand for safe, user-friendly ways to use and interact with crypto. The success of Blockdaemon’s infrastructure is testament to this fact.
Equally important, however, is the ability for businesses to provide secure, frictionless on-ramps for customers to enter into the crypto ecosystem.
Gem infuses Blockdaemon’s node stack with a world-class crypto onramp for institutional clients.
Without accessible ramps into the world of web3, individuals remain anchored far from the decentralized networks that we support. We want everyone to use the industry-leading infrastructure our engineers have developed. Getting users onto Blockdaemon’s rails is a key part of this.
By acquiring Gem, we help institutions bridge the gap between users and the blockchain platforms that they host.
Gem helps further our will towards institutional crypto adoption. With this milestone, Blockdaemon will make it easier for businesses to offer crypto native services.
We also welcome Gem’s deep pool of technical talent. Their roster of world-class blockchain engineers will be a boon to Blockdaemon going forward.
Why We Believe in Gem’s Offerings
Through their years of experience, the team at Gem has developed best-in-class solutions for onboarding users into the crypto sphere. Gem’s products include:
Gem Onramp is the “add money button” for crypto. It is an embeddable checkout flow for users buying/selling crypto within an app. This is the simplest way to onboard crypto users to an app, for both newcomers and pros alike. It aggregates payment processors around the world and across payment method types to deliver a single, global checkout solution.
Gem Onramp supports 125 countries, 39+ cryptocurrencies, and multiple payment methods, such as SEPA transfers, wire transfers, debit, and credit cards. App users can quickly deposit their cryptocurrency to power their in-app transactions.
In essence, Gem Onramp is a frictionless way to connect crypto payments to users. All of this provides a developer-friendly, beautiful solution with just a few lines of code.
Gem Connect lets users connect their crypto exchange accounts to an app. This integrates with over 20 exchanges.
With Gem Connect, users can quickly and easily transfer existing crypto assets from other sources. Gem Connect gives developers a single interface to the crypto universe. All enabled with just a few lines of code. The result is a beautiful user experience.
Gem API provides a clear overview of an institution’s crypto assets. This view aggregates into one central dashboard. This perfectly compliments Blockdaemon’s Ubiquity API. With Ubiquity, clients can access data and transact with secure, managed read & write nodes.
Once combined, these APIs will provide a complete, holistic view of data within the crypto ecosystem.
“As we grow, Blockdaemon always seeks to improve our innovative node stack and add valuable services to our client offerings. With our newest acquisition of Gem, we are bringing in a world-class team of engineers and product managers, combined with a top digital identity, crypto payment and API tech stack, which will greatly enhance the value we deliver to our clients. I would like to personally welcome Gem onto the Blockdaemon team,”- Head of Corporate Development, Larry Zhong.
Blockdaemon is strongly aligned with Gem’s product-centric focus.
The team has delivered products that both crypto-native and crypto-forward institutions alike can use to drive the use, utility and adoption of blockchain.
This acquisition will make it even easier for businesses to offer in-app crypto products and services to their customers, all powered by Blockdaemon.
Blockdaemon strives to offer new and innovative pools of opportunities for clients. Far beyond our proof-of-stake, liquid staking and Ubiquity API offerings, Gem will help take our services to the next level.
By helping institutions dive deep into better user onboarding, Blockdaemon’s clients will discover new realms of growth.