Exclusive: Kado Software acquired by Swapped.com

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

YuPonka/Shutterstock modified by Blockworks

share


This is a segment from the Empire newsletter. To read full editions, subscribe.


M&A szn is still going strong. 

Kado Software, the Web3 payments infrastructure company, was acquired by Swapped.com. 

The team declined to disclose the terms of the deal, but it plans to grow the US operations for Swapped.com, which is a Denmark-based firm. 

Emery Andrew, Kado’s founder, told me that the team’s been weighing its options for a while — from debating a fundraise to looking for the right fit to acquire it. 

It was an obvious choice, he added. Especially because Andrew will stay on to help helm the US operations and product expansion. He teased that they already have some products in the works, but they’re not yet ready to disclose them.

“By merging our expertise and vision, we can accelerate the creation of best-in-class Web3 products and UX, achieving more than either team could on its own. In addition, the US market expertise is something of great value to us,” Swapped.com CEO Thomas Franklin said in a statement. 

The company — which, transparently, was not one I was very familiar with before chatting with Andrew — is fairly new, only about three years old. Its focus is on expanding Web3 payments, which is what drew it to Kado. 

For Andrew, it’s about building the “next generation of crypto-native payments products.”

“It’s a natural progression that payments is a race to zero in terms of fees, as more players enter the market, it’s natural that there’s more competition,” he told me. Right now, it’s still quite expensive, but Andrew’s hoping to take a page out of the stablecoin book when looking at how Kado — and Swapped.com — can lower fees for users.  

And now we wait to see what products these two have up their sleeves. 

Note: Blockworks co-founder Jason Yanowitz is an investor in Kado.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

🚀 Build What’s Next — Permissionless IV Hackathon Join us June 22–23 in Brooklyn for the Permissionless IV Hackathon — a 36-hour sprint hosted by Cracked Labs and Blockworks where top builders turn ideas into real products. Come to launch, not just […]

recent research

Research Report Templates (10).png

Research

Kamino has evolved into a full-stack asset scaling suite with V2: unlocking new markets, improving capital efficiency, and catering to various risk profiles. We believe it is best positioned to become the credit backbone of Solana as the ecosystem matures. Simply put, KMNO remains our highest-conviction bet in the Solana ecosystem. This report lays out our thesis.

article-image

This isn’t the worst hack to ever hit Mt. Gox, but it could be the most entertaining

article-image

Crossover’s CEO discusses institutional interest and how over-the-counter (OTC) trading has picked up in crypto

article-image

Sponsored

This collaboration signifies a major leap forward in expanding the reach and utility of Web3 gaming within the vibrant Asian market

article-image

Asymmetric information is threatening crypto the same way it once threatened equities. Disclosure might be the fix.

article-image

Rate cuts drift into Q4 limbo as markets pretend everything’s fine

article-image

The FOMC held interest rates steady for the fourth-straight time on Wednesday