Blockstream
- Company typePrivate
- Founded2014
- HeadquartersMenlo Park, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingSoftware
What Blockstream does
Blockstream is a privately held Bitcoin and blockchain infrastructure company founded in 2014 by Adam Back (inventor of Hashcash, cited in the Bitcoin whitepaper) and Austin Hill, headquartered in Montreal, Canada with a recently established European hub in Lugano, Switzerland and 101-250 employees. The company builds a vertically integrated stack of Bitcoin-focused products spanning consumer hardware (the open-source Jade and Jade Plus wallets), consumer software (the Blockstream App, formerly Green), enterprise infrastructure (Blockstream Enterprise custody and treasury tools, AMP for digital asset issuance on the Liquid Network, and the Explorer API for Bitcoin/Liquid blockchain data), developer tooling (Greenlight Lightning node management, Core Lightning implementation, Elements sidechain platform, Simplicity smart contract language), and Bitcoin mining and hosting services. Underlying technology includes Layer-2 protocols (Liquid Network, Lightning), global satellite blockchain broadcasting (Blockstream Satellite), and a Cryptocurrency Data Feed covering 100+ cryptocurrencies and 35 trading venues.
Blockstream's business model combines multiple revenue streams: consumer hardware wallet unit sales via the Blockstream Store, subscription-based Enterprise API services, institutional custody and treasury subscriptions, and recurring mining and hosting services with a focus on renewable energy. The company employs a hybrid go-to-market approach — product-led growth for consumer wallets and developer tools (including the Blockstream Local grassroots education program), enterprise direct sales for custody and API contracts, and a capital markets arm (Blockstream Capital) that deploys equity investments into the broader Bitcoin and crypto infrastructure ecosystem (including leading ZBD's $40M Series C, investing in Jiko, and participating in Capital B). Distribution is multi-channel: direct e-commerce, mobile app stores, partner channels (e.g., Swan Bitcoin welcome packages), and self-serve API onboarding with free and paid tiers.
The company has raised approximately $335M in cumulative disclosed funding, most notably a $210M Series B in August 2021 led by Baillie Gifford and iFinex at a $3.2B post-money valuation, followed by a $125M convertible note and secured loan facility in January 2023. Recent strategic moves include the 2025 acquisition of Elysium Lab to anchor European operations, a 2026 institutional data partnership with Intercontinental Exchange (ICE), and expansion of the Blockstream Capital investment platform. Adam Back remains CEO, and the company has not pursued an IPO.
Blockstream firmographics
Firmographics- Name
- Blockstream
- Legal name
- Blockstream Corporation Inc.
- Website
- https://blockstream.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Blockstream industry classification
Industry- Product category
- Blockchain Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)
- akta.pro secondary industries
- On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Interoperability & Cross-Chain Infrastructure (Bridges, Messaging, Atomic Swaps) (FSAGAMAI)
Keywords
Where Blockstream is headquartered
LocationHeadquarters
- HQ city
- Menlo Park
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Blockstream business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain
Revenue model
- Hardware Wallet Sales: Sale of Blockstream Jade hardware wallets through the company's e-commerce store, including the Jade Plus with enhanced security features.
- Enterprise API Services: Subscription-based access to Blockstream Explorer API for enterprise customers requiring authenticated access to Bitcoin and Liquid blockchain data.
- Enterprise Custody and Treasury Solutions: Blockstream Enterprise provides institutional-grade custody and treasury management tools for Bitcoin and digital assets.
- Mining and Hosting Services: Bitcoin mining and hosting services expansion, including renewable energy mining products and development of proprietary bitcoin miners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Blockstream Jade hardware wallet available for purchase |
| Subscription | Monthly | Explorer API with free and enterprise tiers |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Blockstream product offering
Product offeringCore offering
Blockstream builds and sells Bitcoin and blockchain infrastructure products spanning consumer self-custody wallets (Blockstream App and Jade hardware wallets), enterprise custody and treasury tools (Blockstream Enterprise, AMP digital asset issuance API), and developer infrastructure (Explorer API, Greenlight, Cryptocurrency Data Feed). The company also develops foundational open-source layer-2 protocols including the Liquid Network (Bitcoin sidechain), Core Lightning implementation, Elements sidechain platform, and Simplicity smart contract language, along with satellite broadcasting of the Bitcoin blockchain. Revenue is generated from hardware wallet sales, recurring API subscriptions, enterprise contracts, and Bitcoin mining/hosting operations.
Product overview
Blockstream offers a comprehensive Bitcoin and digital asset infrastructure portfolio spanning consumer, enterprise, and developer segments. Consumer products include the Blockstream App (multi-platform Bitcoin/Liquid wallet) and Blockstream Jade/Jade Plus (open-source hardware wallets). Enterprise offerings comprise Blockstream Enterprise (custody/treasury management) and Blockstream AMP (digital asset issuance API). Developer tools include the Blockstream Explorer API (blockchain data), Greenlight (Lightning node management), and Cryptocurrency Data Feed. Layer-2 and infrastructure products include Liquid Network (Bitcoin sidechain for asset issuance), Core Lightning (Lightning Protocol implementation), Elements (sidechain platform), Simplicity (smart contracts), and Blockstream Satellite (blockchain broadcasting). Community initiatives include Blockstream Local (meetup support) and Blockstream Quantum (quantum security research).
Differentiator
Problem solved
Functional benefit
Brands
- Blockstream App (formerly Green): Multi-platform Bitcoin and Liquid wallet application
- Blockstream Jade
- Blockstream Enterprise
- Liquid Network
- Core Lightning
- Greenlight
- Blockstream Satellite
- Blockstream AMP
Products and services
- Blockstream App Multi-platform Bitcoin and Liquid wallet application with simplified self-custody, improved onboarding, and the ability to purchase bitcoin directly to the wallet, available on Android and iOS.
- Blockstream Jade Fully open-source hardware wallet for Bitcoin and Liquid with air-gapped security and QR-based offline transactions, sold through the Blockstream Store.
- Blockstream Jade Plus Next-generation open-source Bitcoin and Liquid hardware wallet with upgraded aluminum casing, larger display, and air-gapped QR-based security.
- Blockstream Enterprise
Quantifiable outcome
- Lightning Network throughput exceeding 42 million TPS (equivalent to 14.4TB blocks)
- +1 more outcomes
Companies that use Blockstream
Customer profileSegments4 records
Ideal customer profiles4 records
Blockstream technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature10 records
Blockstream partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Intercontinental Exchange (ICE)coreICE partnered with Blockstream to launch a cryptocurrency data service covering over 100 cryptocurrencies and 35 trading venues, providing institutional-grade pricing and risk infrastructure for digital assets as part of ICE's expansion into regulated digital asset markets.
- Elysium LabcoreBlockstream acquired Elysium Lab, a digital asset company based in Lugano, resulting in the establishment of Blockstream's European headquarters and incubator Blockstream CH SAGL, reinforcing Switzerland fintech sector presence.
- Corbiere Capital ManagementminorBlockstream Capital Partners plans to acquire Corbiere Capital Management, a Jersey-based equities hedge fund, as part of expanding its institutional investment platform with equity and event-driven market capabilities.
- Swan BitcoinminorSwan Bitcoin's Swan Vault Plus platform includes support for Blockstream Jade Plus signing devices in welcome packages, integrating Blockstream hardware into collaborative self-custody offerings.
- BitMEX ResearchminorBitMEX Research published assessments of Blockstream's mining note product, acknowledging some concerns while questioning other claims in an investigative report by NatInfoSec.
Scale indicators4 records
Recent moves7 records
Expansion highlights6 records
Blockstream competitors and assessment
Company assessmentOthers
- Circle: Circle issues USDC, the leading regulated US-dollar stablecoin. While operating a different infrastructure (Ethereum-centric), Circle competes in the broader tokenized-money and stablecoin infrastructure space where Blockstream's Paystand USDb partnership also plays.
- Chainalysis: Chainalysis provides blockchain analytics and compliance data for Bitcoin and other chains, serving governments, exchanges, and financial institutions. While not a direct competitor to Blockstream's product lines, it operates adjacent blockchain infrastructure that institutional clients pair with custody solutions.
Direct peers
- BitGo: BitGo is a leading institutional digital asset custody and prime brokerage provider, directly competing with Blockstream Enterprise's custody and treasury solutions. Both serve exchanges, funds, and corporates needing qualified custody with similar APIs and security models.
- Lightning Labs: Lightning Labs develops LND (Lightning Network Daemon), the leading Lightning Network implementation and a direct competitor to Blockstream's Core Lightning (CLN). Both target Bitcoin Lightning infrastructure developers and node operators with overlapping enterprise tooling.
- Ledger: Ledger is the dominant consumer hardware wallet vendor (Ledger Nano S/X, Ledger Stax), competing head-to-head with Blockstream Jade and Jade Plus. Both target self-custody Bitcoin holders with secure element hardware and integrated software wallets.
- Fireblocks: Fireblocks provides institutional custody, settlement, and tokenization infrastructure for digital assets. It competes with Blockstream Enterprise on the custody side and with Blockstream AMP on the asset issuance/management side for institutional clients.
- Galaxy Digital: Galaxy Digital is a diversified Bitcoin-focused financial services and crypto infrastructure firm operating trading, asset management, mining, and venture investing. Like Blockstream, it is a Bitcoin-centric institutionally-oriented platform with overlapping mining and infrastructure exposure.
- Foundry: Foundry (a Digital Currency Group subsidiary) provides Bitcoin mining pool, hosting, and ASIC distribution services. It directly competes with Blockstream's mining and hosting vertical and has scaled to become a leading institutional mining infrastructure provider.
- Trezor: Trezor (SatoshiLabs) is the other major open-source hardware wallet brand, directly competing with Blockstream Jade for security-conscious Bitcoin self-custody consumers. Both emphasize open-source firmware and strong security models.
Broad incumbents
- Coinbase: Coinbase is the largest US-listed crypto exchange and institutional custody provider. While broader in scope (retail exchange, staking, Layer-2s), its institutional Coinbase Prime custody competes directly with Blockstream Enterprise.
Market position
Strengths3 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights6 records
Customer concentration
Blockstream social profiles
Digital presenceBlockstream financial estimates
Financial estimateRevenue estimate
Valuation estimate
Blockstream leadership team
Management profileNumber of profiles
Profiles7 records
Blockstream subsidiaries and ownership
Company hierarchySubsidiaries3 records
Blockstream funding detail
Funding detailFunding overview
Funding rounds7 records
Investors29 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Blockstream M&A and investment
M&A and investmentM&A4 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Blockstream
What does Blockstream do?
Blockstream builds and sells Bitcoin and blockchain infrastructure products spanning consumer self-custody wallets (Blockstream App and Jade hardware wallets), enterprise custody and treasury tools (Blockstream Enterprise, AMP digital asset issuance API), and developer infrastructure (Explorer API, Greenlight, Cryptocurrency Data Feed). The company also develops foundational open-source layer-2 protocols including the Liquid Network (Bitcoin sidechain), Core Lightning implementation, Elements sidechain platform, and Simplicity smart contract language, along with satellite broadcasting of the Bitcoin blockchain. Revenue is generated from hardware wallet sales, recurring API subscriptions, enterprise contracts, and Bitcoin mining/hosting operations.
Is Blockstream a public or private company?
Blockstream is a private company. It is classified as venture growth investor backed and is currently operating.
When was Blockstream founded?
Blockstream was founded in 2014. It employs 101 to 250 people.
Where is Blockstream based?
Blockstream is headquartered in Menlo Park, United States, in the North America region.
How does Blockstream make money?
Four revenue lines are on record. Hardware Wallet Sales are the primary driver. The others are enterprise API Services, enterprise Custody and Treasury Solutions and mining and Hosting Services.
Who are Blockstream's main competitors?
Others on record are Circle and Chainalysis. Direct peers are BitGo, Lightning Labs, Ledger, Fireblocks, Galaxy Digital, Foundry and Trezor. Coinbase is listed as a broad incumbent.
Does Blockstream have an API?
Yes. Blockstream Explorer API provides real-time access to Bitcoin and Liquid blockchain data. The API offers both unauthenticated free endpoints and Enterprise endpoints requiring OAuth2 authentication. Free endpoints are supported by SDKs/libraries including GDK, LWK, and BDK. Enterprise endpoints require additional OAuth2 authentication steps, currently included in LWK library with work ongoing to add built-in authentication to BDK and other popular libraries. Developer documentation is at blockstream.info/explorer-api.
What industry is Blockstream in?
Blockstream's product category is Blockchain Infrastructure. Its primary akta.pro industry code is FSAPAIAJ, Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails), with a secondary code of FSAGAMAD, On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury). Its NAICS code is 522320 and its SIC code is 6200.