Blockstream
Blockstream is a global leader in Bitcoin and blockchain technology, providing infrastructure, products, and services designed to expand the capabilities of the Bitcoin ecosystem. The company focuses on building financial infrastructure based on Bitcoin, aiming to enhance efficiency in financial markets through advanced cryptography and security engineering [1] [21].
Overview
Founded in 2014, Blockstream's mission is to develop the financial infrastructure of the future by leveraging Bitcoin's robust and secure blockchain. [1]
The company emphasizes permissionless innovation, empowering individuals and businesses to manage their finances independently and promoting open finance for a more equitable financial system. Blockstream invests significantly in research and development to strengthen the Bitcoin protocol and ecosystem, with a long-term outlook on delivering scalable solutions [1].
Blockstream's core values include fostering permissionless innovation, promoting the principle of "Don't trust, verify" to reduce reliance on third parties, and advocating for open finance to benefit a broader population. The company's efforts are directed towards accelerating the adoption of Bitcoin and peer-to-peer finance [1].
History
Blockstream was founded in 2014 by a group including Dr. Adam Back, Erik Svenson, and Pieter Wuille. In November 2014, the company secured $21 million in seed funding. The first version of Elements, an open-source, sidechain-capable blockchain platform, was released in June 2015. This was followed by a Series A funding round in February 2016, raising $55 million.
In July 2016, Blockstream acquired GreenAddress, a Bitcoin wallet provider [1].
Major developments continued in 2017 with the release of Confidential Assets in April and the launch of Blockstream Satellite in August, which broadcasts the Bitcoin blockchain via satellite. By November 2017, total funding exceeded $80 million, with an investment from Digital Garage. December 2017 saw the launch of c-lightning, Blockstream’s implementation of the Lightning Network.
In 2018, the company launched Lightning Charge for developers and the Cryptocurrency Data Feed in partnership with Intercontinental Exchange. A significant milestone was reached in October 2018 with the launch of the Liquid Network, a Bitcoin layer-2 solution for digital asset issuance, in collaboration with major cryptocurrency exchanges and trading desks [1].
In 2019, Blockstream launched the Blockstream Satellite API and entered a joint venture, Crypto Garage, with Digital Garage and The Tokyo Tanshi to expand Bitcoin applications in Japan. The Blockstream Green Wallet was launched in March 2019, with Liquid support added in July. Tether also launched on the Liquid Network in July 2019. The Liquid Network continued to expand its federation members, reaching 45 in March 2020 and 53 by July 2020. Blockstream Satellite 2.0 was launched in May 2020, offering expanded coverage. In October 2020, the Blockstream Asset Management Platform (AMP) was announced, enabling programmable security tokens on Liquid [1].
The year 2021 saw the reveal of Blockstream Jade, a fully open-source hardware wallet, and the Liquid Federation growing to 59 members. Blockstream acquired Adamant Capital and established Blockstream Finance in May 2021.
The company achieved a valuation of $3.2 billion and secured $210 million in Series B financing in August 2021, reaching "unicorn" status. [1]
In 2022, the Liquid Federation expanded to 63 members, and Liquid added Taproot support. c-lightning was rebranded to Core Lightning in March 2022.
In October 2023, Blockstream launched Greenlight for scalable, non-custodial Lightning integration. Further funding was secured in October 2024, with $210 million led by Fulgur Ventures, and a research center was launched in Lugano in November 2024.
In January 2025, Blockstream launched Jade Plus, an enhanced hardware wallet, and debuted Blockstream Asset Management alongside two institutional-grade Bitcoin investment funds [1] [2] [3].
Products and Services
Blockstream offers a diverse suite of products and services catering to consumers, asset managers, enterprises, and developers, all built around the Bitcoin and Liquid ecosystems [4].
Consumer Products
- Blockstream App: A multi-platform wallet for managing Bitcoin and Liquid assets. It simplifies self-custody, improves onboarding, and enables direct Bitcoin purchases [5] [6].
- Blockstream Jade: A fully open-source hardware wallet designed for secure self-custody of Bitcoin and Liquid assets. The Jade Plus model features an upgraded aluminum casing, larger display, and air-gapped security [7] [8].
Asset Management
- Blockstream Asset Management: Provides Bitcoin investment funds for institutions and high-net-worth investors [9].
- Blockstream AMP: An API that enables the issuance and management of digital assets, including programmable security tokens, on the Liquid Network [10].
Enterprise Solutions
- Blockstream Enterprise: Offers enterprise-grade custody, treasury management, and tokenization solutions for Bitcoin [11].
Developer Tools and Community Projects
- Liquid Network: A Bitcoin layer-2 solution designed for the issuance and transfer of digital assets, including stablecoins and security tokens. It is a sidechain to Bitcoin, enabling faster, confidential transactions [12].
- Core Lightning (CLN): Blockstream's implementation of the Lightning Network protocol, focused on scalability for Bitcoin payments [13].
- Elements: An open-source, sidechain-capable blockchain platform that serves as the foundation for the Liquid Network and allows for the creation of new blockchain features [14].
- Blockstream Explorer API: Provides tools to search and access data from the Bitcoin and Liquid blockchains [15].
- Greenlight: A Lightning node management service that enables scalable, non-custodial Lightning integrations for developers and applications [16].
- Cryptocurrency Data Feed: Offers real-time and historical cryptocurrency trade data, developed in partnership with Intercontinental Exchange [17].
- Blockstream Satellite: Broadcasts the Bitcoin blockchain globally via satellite, providing an alternative method for syncing a Bitcoin node without internet access [1].
Technology
Blockstream's technological contributions primarily focus on enhancing Bitcoin's scalability, privacy, and functionality through layer-2 solutions and sidechains.
Liquid Network
The Liquid Network is a federated sidechain to Bitcoin, designed for fast, confidential, and secure transfers of digital assets. It uses a "peg-in" and "peg-out" mechanism to move Bitcoin (or other assets) between the main Bitcoin blockchain and the Liquid sidechain. Transactions on Liquid are faster than on Bitcoin and support "Confidential Transactions," which hide the amounts and asset types being transacted, enhancing privacy [12] [1].
Core Lightning
Core Lightning (CLN) is a lightweight and flexible implementation of the Lightning Network, a layer-2 protocol built on Bitcoin that enables instant, low-cost transactions. CLN is designed for developers to build scalable applications on top of Bitcoin, facilitating micro-payments and high-throughput transactions off the main blockchain [13].
Elements
Elements is an open-source blockchain platform that allows developers to build and experiment with new features for Bitcoin-like blockchains, including sidechains. It provides a framework for creating custom blockchain networks with features such as Confidential Transactions, Issued Assets, and Segregated Witness (SegWit) [14].
Shielded CSV
Blockstream Research has contributed to the development of Shielded CSV, a payments protocol that can be built on top of Bitcoin. This protocol aims to provide scalable and private Bitcoin payments by enabling full privacy with minimal on-chain data, specifically 64 bytes. This innovation is seen as a pragmatic step towards more private and efficient Bitcoin transactions [18] [19].
Leadership
Blockstream is led by a team of executives with extensive experience in cryptography, distributed systems, and finance.
- Dr. Adam Back: Co-founder and CEO. Dr. Back is known for inventing Hashcash, the proof-of-work algorithm [1].
- Michael Minkevich: Chief Operating Officer, with over 20 years of technology executive experience [1].
- Lawrence Nahum: Chief Technology Officer, directing software and hardware development [1].
- Michael Golomb: Chief Financial Officer, with 25 years of senior executive experience [1].
- Jeff Boortz: Chief Product Officer, overseeing the product portfolio with over 20 years of product management experience [1].
- Sean Bill: Chief Investment Officer, leading the Asset Management Division [1].
- Aleksey Skopenko: Chief Information Officer, with over 20 years of IT operations experience [1].
Funding and Investors
Blockstream has attracted significant investment from various venture capital firms and strategic partners. The company raised $21 million in seed funding in 2014 and $55 million in Series A funding in 2016.
By November 2017, total funding exceeded $80 million. In August 2021, Blockstream secured $210 million in Series B financing, which valued the company at $3.2 billion.
In October 2024, Blockstream secured another $210 million in funding led by Fulgur Ventures [1].
Notable investors include:
- AME Cloud Ventures [1]
- AXA Strategic Ventures [1]
- Blockchain Capital [1]
- Digital Currency Group [1]
- Digital Garage [1]
- Fulgur Ventures [1]
- Future Perfect Ventures [1]
- Horizons Ventures [1]
- East Ventures [1]
- Khosla Ventures [1]
- Mosaic Ventures [1]
- Real Ventures [1]
- Seven Seas Partners [1]
- iFinex [1]
- Baillie Gifford [1]
Offices and Global Presence
Blockstream operates with a distributed team of over 100 individuals, comprising experts from diverse backgrounds in Bitcoin and blockchain technology.
The company maintains offices in Montreal, Mountain View, Lugano, and Tokyo, in addition to its remote team members located globally [1].
Related Ventures
In July 2025, Blockstream CEO Adam Back teamed up with Cantor Fitzgerald to launch the Bitcoin Standard Treasury Company (BSTR). This new publicly traded firm is set to launch with a balance sheet of over 30,000 BTC, valued at more than $3.5 billion, along with $1.5 billion in PIPE financing.
BSTR's mission is to bring the integrity of Bitcoin as sound money to modern capital markets, with plans to acquire more Bitcoin and develop Bitcoin-native capital markets products and advisory services [20].