Industry Mapping

Not just the coin,
the entire system.

Mapping the Real Infrastructure Behind Stablecoins

Solutions & Value Proposition Layer

Enterprise Applications

B2B Cross-Border Remittances

Cedar Money

Founded:

2022

Fast, Transparent, and Scalable Payment Solutions for Merchants. Enabling Cross-Border Stablecoin Payments.

Website

Total Founding

Seed Round raised $9.9 million.

Backers

QED Investors, Stellar Development Foundation, Lattice, Wischoff Ventures, North Island Ventures

Core Products

Cedar Money App

Target Customers

Cedar's target customers are primarily small and medium-sized businesses (SMBs) or entrepreneurs in underdeveloped/emerging markets who receive international payments (including Stablecoin) from customers or clients abroad.

Technology

Cedar Money is actively using 51 technologies for its website. These include Euro, Apple Mobile Web Clips Icon, and Google Tag Manager.

Alfred Pay

Founded:

2011

.Alfred Pay, built on stablecoins, make cross-border payments simple, enabling you to reach clients and partners no matter where they are.

Website

Total Founding

Up to June 4, 2024, the company has raised $500,000 in equity and $550,000 in non-dilutive grants.

Backers

Alfred pay has not raised any funding rounds yet.

Core Products

Alfred platform enables businesses to send and receive funds, convert fiat to stablecoins, and manage payments.

Target Customers

Businesses Making International Payments (Core Focus) Institutions Leveraging Stablecoins Tech-First Companies & Developers (API Users) Platforms & Marketplaces (Third-Party Payments)

Technology

Alfred is actively using 34 technologies for its website. These include Euro, SPF, and Google Font API.

Kun

Founded:

2023

Integrated Web2 + Web3 Payment Solutions Addressing Emerging Markets in Asia, Africa and Latin America

Website

Total Founding

$56 million

Backers

Lead Investors: BAI capital, GSR Ventures, Eternium Global, Hash Global, MOG Digitech

Core Products

KUN | Pay - Ensure. Secure transactions with KYT service protection.Licensed and compliant.Stable and efficient Empower. Supporting 60+ tokens.Professional B2B services.Supporting mainstream wallets Exceed. Easy integration for immediate transactions.Supporting large transactions.No hidden fees

Target Customers

Cross-border B2B, Marketplace, Emerging Markets Payment Insititutions, OTCs

Technology

KUN is actively using 18 technologies for its website. These include SPF, SSL by Default, and nginx.

Ripple

Founded:

2012

Ripple’s payments, custody and stablecoin solutions empower financial institutions to integrate blockchain and digital assets into their business in a simple, secure, compliant way—all in one place.

Website

Total Founding

$293 million

Backers

Lead Investors: Andreessen Horowitz, Lightspeed Venture Partners, SBI Investment, Pantera Capital, Abstract

Core Products

Ripple Payments - Unlock growth and enable seamless cross-border money movement with crypto and stablecoin on/off ramps

Target Customers

Payment Service Providers - Leverage Ripple’s global network of banks, fintechs and exchanges to move value seamlessly to 90+ payout markets around the world—all while meeting local regulatory licensing and compliance requirements.

Technology

Ripple uses 27 technology products and services including HTML5, Wordpress, and F5 NGINX. This year, Ripple is projected to spend $28.4M on IT.

Treasury Management

Coinshift

Founded:

2021

The next-generation stablecoin. Built for maximum yield, posted daily. Backed by the very best.

Website

Total Founding

$17.5M

Backers

Quiet Capital, Peak XV Partners, Alpha Wave Global, Tiger Global Management, Volt Capital

Core Products

csUSDL - Built with Paxos, Morpho, and Steakhouse, our yield-bearing stablecoin combines T-Bills and DeFi-native lending for an all-weather asset that is accessible, regulated, competitive, and risk-mitigated by design.

Target Customers

This solution is designed for DAOs and crypto-native companies that need real-time visibility and control over multi-chain assets.

Technology

Coinshift is actively using 42 technologies for its website. These include Google Tag Manager, Font Awesome, and DNSSEC.

Fortris

Founded:

2017

Global payments with stablecoins, fast, reliable, and always on

Website

Total Founding

Fortris has not raised any funding rounds yet.

Backers

Fortris has not raised any funding rounds yet.

Core Products

Fortris gives you the treasury management infrastructure to send and receive stablecoin payments at scale, with full visibility, traceability and control.

Target Customers

Powering crypto payments for the Gaming industry Complete financial control for Bitcoin miners Built for scale. Ready for relentless throughput.

Technology

Fortris is actively using 39 technologies for its website. This year, Fortris is projected to spend $633.3K on IT,

Haruko

Founded:

2021

Haruko enables seamless connectivity across digital asset exchanges and on-chain protocols, offering a detailed real-time view of all your exposures and risks.

Website

Total Founding

$16.1M

Backers

White Star Capital, Portage Ventures, MMC Ventures

Core Products

Haruko treasury management solution - Haruko’s comprehensive portfolio and risk management solution helps simplify complexity allowing you to manage your assets and trading activity efficiently.

Target Customers

Institutional investors, hedge funds, asset managers, trading firms, OTC desks, and Web3 companies that need a unified, real-time platform for managing digital asset positions, risks, and treasury operations across multiple chains, protocols, and venues.

Technology

Haruko is actively using 15 technologies for its website. These include Font Awesome, DNSSEC, and IPv6.

Utila

Founded:

2022

A fintech company providing automated currency management and FX risk hedging solutions for businesses engaging in international trade.

Website

Total Founding

$29.5M

Backers

Gaingels, K5 Global, Framework Ventures, Wing Venture Capital, Inspired Capital Partners

Core Products

Utila Platform - The most secure, flexible and robust crypto treasury management platform Manage your digital assets across multiple blockchains, wallets, teams, and users on a single, user-friendly platform, without any complexity.

Target Customers

Businesses, institutions, VC funds, hedge funds, family offices, OTC desks, DAOs, and Web3 companies seeking secure, compliant, and efficient multi-chain treasury operations.

Technology

Surge Score of Google Firebase Crashlytics: 93

Commerce

AllScale

Founded:

2025

AllScale is building solutions to make stablecoins more accessible, intuitive, and compliant for small businesses. A stablecoin-focused platform offering Invoice, Social commerce and payroll.

Website

Total Founding

Seed funding round of $1.5 million.

Backers

DraperDragon, Amber Group, Y2Z Capital, KuCoin Ventures, Oak Grove Ventures, Blockbooster, Movemaker

Core Products

Social commerce and invoicing: Enables businesses and individuals to accept instant stablecoin payments. The platform's core products include a dynamic AllScale biolink for social media profiles, allowing users to showcase products and securely collect payments directly from followers in any messaging app. Additionally, it offers tools to create, e-sign, and send professional contracts and invoices, ensuring users can get paid in their clients' preferred method while instantly receiving stablecoins to maximize liquidity and minimize friction.

Target Customers

Small to medium enterprises (SMEs), startups, and global freelancer needing efficient stablecoin-based financial operations.

TripleA

Founded:

2017

A crypto payment gateway enabling businesses to accept cryptocurrencies with instant confirmation and real-time conversion.

Website

Total Founding

$14M

Backers

Sequoia Capital, Peak XV Partners, Shorooq Partners, 1982 Ventures, 8i Ventures

Core Products

TripleA Crypto Payment Gateway, which allows businesses to accept crypto payments and receive payouts in their preferred currency (fiat or crypto). It focuses on providing a secure, instant, and low-cost solution with a no-chargeback policy.

Target Customers

E-commerce merchants, retailers, and other businesses, including those in the e-gaming and fintech sectors.

Cryptomus

Founded:

2022

Provider of cryptocurrency payment gateway. It also provide a decentralized and secure way to buy and sell cryptocurrency through their P2P exchange.

Website

Total Founding

Unfunded

Backers

Not disclosed

Core Products

Cryptomus Payment Gateway, a multi-functional service for online and offline businesses to accept a wide range of cryptocurrencies. In addition to payments, it provides a P2P exchange and a business wallet for managing crypto assets.

Target Customers

Merchants, both online and offline, looking for a comprehensive crypto payment and asset management solution.

NOWPayments

Founded:

2019

A crypto payment gateway enabling merchants to accept a wide range of cryptocurrencies with easy integration and low fees.

Website

Total Founding

Privately funded; no public major funding rounds disclosed.

Backers

Self-funded with support from the crypto community and strategic partnerships.

Core Products

NOWPayments Gateway — supports over 100 cryptocurrencies, offers plug-and-play integrations (API, plugins for e-commerce platforms), automatic conversion to stablecoins or fiat, and non-custodial payments.

Target Customers

Online merchants, e-commerce businesses, and service providers seeking to accept crypto payments globally.

Helio

Founded:

2022

A financial platform offering tailored credit and lending solutions powered by blockchain technology to underserved markets.

Website

Total Founding

$3.3M

Backers

Faction, Peak

Core Products

Helio Credit Platform — a decentralized lending solution providing credit scoring, underwriting, and loan management using blockchain data and smart contracts.

Target Customers

Individuals and small businesses in emerging markets with limited access to traditional credit services.

Payroll

Request Finance

Founded:

2017

The all-in-one finance platform for stablecoins, crypto and fiat operations, automating invoicing, payroll, and accounting for Web3 businesses.

Website

Total Founding

~$8.2M

Backers

Balderton Capital, Animoca Brands, Xange, and crypto founders.

Core Products

Request Finance Platform automating invoicing, payroll, and accounting for crypto and fiat operations.

Target Customers

Web3 businesses, DAOs, freelancers, and enterprises needing a compliant and efficient financial management solution.

Risework

Founded:

2020

A global HR and payroll platform enabling businesses to compliantly hire and pay their international team in both fiat and crypto.

Website

Total Founding

Unfunded

Backers

Not publicly disclosed.

Core Products

Risework Global Payroll for managing and paying international teams in both fiat and crypto, with built-in compliance tools.

Target Customers

Web3 companies, DAOs, and remote-first enterprises needing simplified international payroll and HR.

Superfluid

Founded:

2019

A protocol for real-time finance enabling continuous money streaming on the blockchain for payments, subscriptions, and payroll.

Website

Total Founding

~$9M

Backers

Framework Ventures, Paradigm, Aave, Multicoin Capital.

Core Products

Superfluid Protocol for real-time, continuous money streaming, enabling payroll, subscriptions, and instant settlements.

Target Customers

Developers, DAOs, freelancers, and businesses looking for flexible, real-time payment solutions.

Toku

Founded:

2020

A global, all-in-one platform for compliant crypto payroll, employment, and token compensation for Web3 companies.

Website

Total Founding

~$20M

Backers

Wing VC, a16z, and others.

Core Products

Toku Payroll Platform for compliant payroll, token compensation, and tax management for global crypto teams.

Target Customers

Web3 companies, DAOs, and crypto startups with global, remote teams.

AllScale

Founded:

2025

AllScale is building solutions to make stablecoins more accessible, intuitive, and compliant for small businesses. A stablecoin-focused platform offering Invoice, Social commerce and payroll.

Website

Total Founding

Seed funding round of $1.5 million.

Backers

DraperDragon, Amber Group, Y2Z Capital, KuCoin Ventures, Oak Grove Ventures, Blockbooster, Movemaker

Core Products

AllScale Payroll create, e-sign, and send professional contracts and invoices in seconds. Get paid by clients in their preferred method and instantly receive stablecoin—maximizing liquidity, minimizing friction.

Target Customers

Small to medium enterprises (SMEs), startups, and global freelancer needing efficient stablecoin-based financial operations.

Consumer Applications

Stablecoin Card

RedotPay

Founded:

2019

A digital payment platform offering multi-currency wallet and fast cross-border transactions primarily targeting Asian markets.

Website

Issuer/Partner Bank

Raised around $5 million in early-stage funding rounds.

Supported Assets

Regional fintech investors and strategic partners (specific names not widely disclosed).

Geographic Availability

RedotPay Wallet — supports fiat and cryptocurrency transactions with integrated remittance, payment, and wallet services for consumers and businesses.

Core Features

SMEs, freelancers, and consumers in Asia seeking convenient and cost-effective cross-border payment solutions.

KAST

Founded:

2021

A decentralized social entertainment platform combining live streaming, social interaction, and blockchain-based rewards.

Website

Issuer/Partner Bank

Raised approximately $8 million in early funding rounds.

Supported Assets

Animoca Brands, DAO Maker, and other prominent blockchain investors.

Geographic Availability

KAST Platform — enables users to watch, stream, and interact with live content while earning crypto rewards through engagement and token incentives.

Core Features

Content creators, viewers, and communities interested in interactive social entertainment and decentralized monetization.

BitPay Card

Founded:

2016

A prepaid Visa card enabling users to convert and spend their cryptocurrencies seamlessly anywhere Visa is accepted.

Website

Issuer/Partner Bank

BitPay raised over $70 million in funding rounds, including strategic investors and venture capital firms.

Supported Assets

Founders Fund, Aquiline Technology Growth, and other venture investors.

Geographic Availability

BitPay Card — a reloadable prepaid Visa card linked to BitPay wallets, allowing instant conversion of crypto (Bitcoin, Bitcoin Cash, Ethereum, and others) to USD for everyday spending

Core Features

Crypto holders wanting to spend their digital assets easily in daily life without complicated conversions.

Crypto.com

Founded:

2018 (Crypto.com launched the card program in 2019)

A crypto-backed prepaid Visa card offering cashback rewards, flexible spending, and seamless crypto-to-fiat conversion for everyday purchases

Website

Issuer/Partner Bank

Crypto.com has raised over $700 million across multiple funding rounds (specific to the card product funding not separately disclosed).

Supported Assets

Greenoaks Capital, DST Global, Tiger Global, and other major venture investors backing Crypto.com.

Geographic Availability

Crypto.com Visa Card — physical and virtual prepaid cards linked to users’ Crypto.com wallets, enabling crypto spending with instant conversion, tiered cashback rewards, and additional perks like airport lounge access and subscription rebates.

Core Features

Crypto holders and everyday consumers looking for convenient crypto spending options with rewards and global acceptance.

Binance Card

Founded:

2019

A protocol for real-time finance enabling continuous money streaming on blockchain for payments, subscriptions, and payroll.

Website

Issuer/Partner Bank

Raised over $7 million in seed and strategic funding rounds.

Supported Assets

Framework Ventures, Paradigm, Aave, and other prominent crypto investors.

Geographic Availability

Superfluid Protocol — smart contracts enabling real-time streaming of funds, allowing users to send and receive payments continuously rather than in lump sums.

Core Features

Developers, DAOs, freelancers, and businesses seeking flexible payment solutions such as subscription services, payroll, and instant settlements.

Stablecoin Neobank

Slash.com

Founded:

2019

A financial platform providing corporate cards and bank accounts to Web3 companies and businesses, leveraging stablecoins for global payments.

Website

Issuer/partner Bank

Partners with FDIC-insured banks like Evolve Bank & Trust to provide services.

Supported Assets

USDC, USDT, and other stablecoins; linked to USD bank accounts.

Geographic Availability

Primarily available in the United States.

Core Features

Corporate credit cards, business bank accounts, expense management tools, and seamless stablecoin on/off-ramps for global transactions.

Juno

Founded:

2021

A decentralized finance (DeFi) platform focused on yield generation, lending, and staking within the Cosmos ecosystem.

Website

Issuer/partner Bank

N/A (purely decentralized, no traditional banking partnerships).

Supported Assets

Juno token (JUNO), Cosmos (ATOM), and various Cosmos SDK-based tokens.

Geographic Availability

Global, accessible to anyone with blockchain access.

Core Features

Yield farming, decentralized lending and borrowing, staking, governance participation, and cross-chain interoperability within the Cosmos ecosystem.

hi.com

Founded:

2022

A next-generation digital bank built around stablecoins, offering seamless crypto-fiat banking services and real-time cross-border payments.

Website

Issuer/partner Bank

Partnered with licensed banks and payment institutions in Asia and Europe.

Supported Assets

USDT, USDC, DAI, and other major stablecoins; supports fiat currencies like USD and EUR.

Geographic Availability

Asia-Pacific, Europe, and expanding global presence.

Core Features

Stablecoin-based accounts, instant cross-border transfers, multi-currency wallets, debit cards linked to stablecoins, and integrated compliance (KYC/AML).

Stablecoin Wallet

MetaMask

Founded:

2016

The leading self-custodial wallet and browser extension for interacting with the Ethereum ecosystem and other EVM-compatible blockchains.

Website

Issuer/Partner Bank

Non-custodial wallet; developed by Consensys; no traditional banking partners involved.

Supported Assets

Supports Ethereum (ETH), all ERC-20 tokens, and hundreds of stablecoins and tokens on EVM-compatible networks like Polygon, BNB Chain, and Optimism.

Geographic Availability

Global, available as a browser extension and mobile app in most countries.

Core Features

Global, available as a browser extension and mobile app in most countries.

Bitget Wallet

Founded:

2018

A multi-chain crypto wallet integrated with Bitget exchange, offering secure asset management, trading, DeFi access, and NFT support.

Website

Issuer/Partner Bank

Non-custodial wallet; no traditional banking partners; closely integrated with Bitget exchange platform.

Supported Assets

Bitcoin, Ethereum, Binance Smart Chain, Solana, Polygon, USDT, USDC, and hundreds of other tokens and stablecoins.

Geographic Availability

Available globally except in jurisdictions with regulatory restrictions.

Core Features

Available globally except in jurisdictions with regulatory restrictions.

OKX Wallet

Founded:

2017

A secure, multi-chain cryptocurrency wallet offering seamless asset management, staking, and DeFi integration for users worldwide.

Website

Issuer/Partner Bank

Non-custodial wallet; no traditional banking partners involved. Part of OKX ecosystem.

Supported Assets

Supports Bitcoin, Ethereum, Binance Smart Chain, Solana, Polygon, and over 200 other cryptocurrencies and tokens.

Geographic Availability

Global, available in most countries except where restricted by regulation.

Core Features

Global, available in most countries except where restricted by regulation.

Trust Wallet

Founded:

2017

A decentralized, multi-cryptocurrency mobile wallet offering secure storage and easy access to blockchain assets and DApps.

Website

Issuer/Partner Bank

Non-custodial wallet. Owned by Binance since 2018.

Supported Assets

Supports Ethereum and ERC-20 tokens, Binance Chain, Binance Smart Chain, Bitcoin, and thousands of other cryptocurrencies and tokens.

Geographic Availability

Global, available in most countries except those with regulatory restrictions.

Core Features

Global, available in most countries except those with regulatory restrictions.

Yields

Loans

Maple Finance

Founded:

2021

An institutional lending marketplace connecting crypto capital to vetted borrowers via on-chain lending pools.

Website

Total Founding

$50 million (including protocol treasury funding)

Backers

Framework Ventures, Polychain Capital, Maven 11, Wintermute

Core Products

Maple Protocol — provides undercollateralized loans to institutional borrowers via delegate-managed lending pools.

Supported Assets

USDC, wETH, wBTC (varies by pool)

Networks

Ethereum, Solana

Target Customers

Institutional borrowers (market makers, crypto funds) and lenders seeking yield

Key Features

Undercollateralized loans, Pool delegate model, On-chain loan performance tracking.

Yearn

Founded:

2020

A yield optimization protocol that automates DeFi investment strategies across lending, liquidity pools, and staking.

Website

Total Founding

No VC funding — community-driven and launched without a token sale

Backers

N/A (governance by YFI token holders)

Core Products

Yearn Vaults — automated yield strategies that deploy user funds into lending protocols like Aave, Compound, and Curve to maximize returns.

Supported Assets

ETH, stablecoins (USDC, DAI, USDT), WBTC, and other ERC-20 tokens

Networks

Ethereum, Fantom, Arbitrum, Optimism

Target Customers

Retail and institutional DeFi investors seeking automated yield generation

Key Features

Automated yield farming strategies, Integration with lending markets, Governance via YFI token.

Compound

Founded:

2018

An algorithmic, autonomous interest rate protocol that allows users to earn interest on crypto and borrow assets against collateral.

Website

Total Founding

$33 million

Backers

Andreessen Horowitz (a16z), Polychain Capital, Paradigm, Coinbase Ventures, Bain Capital Ventures

Core Products

Compound Protocol — decentralized lending pools with algorithmically adjusted interest rates for borrowers and lenders.

Supported Assets

ETH, USDC, USDT, DAI, WBTC, and other major ERC-20 tokens

Networks

Ethereum

Target Customers

DeFi users, liquidity providers, crypto traders, and developers integrating lending functionality

Key Features

Overcollateralized loans, cTokens representing deposits, Algorithmic interest rate adjustment.

Aave

Founded:

2017

A decentralized non-custodial liquidity protocol where users can lend, borrow, and earn interest on crypto assets.

Website

Total Founding

$49 million (across ICO and funding rounds)

Backers

Blockchain Capital, Standard Crypto, Three Arrows Capital, Parafi Capital, and others

Core Products

Aave Protocol — decentralized lending markets supporting over 30 assets; features include variable & stable interest rates, flash loans, and collateral swapping.

Supported Assets

ETH, USDC, USDT, DAI, WBTC, and other major ERC-20 tokens (varies by network)

Networks

Ethereum, Polygon, Avalanche, Optimism, Arbitrum, and others

Target Customers

Crypto holders, DeFi traders, institutional investors, and developers building on lending protocols

Key Features

Overcollateralized & undercollateralized loans, Flash loans, Interest rate switching, Liquidity mining incentives.

Real World Assets (RWA)

Goldfinch

Founded:

2020

A decentralized credit protocol that extends crypto loans to real-world businesses without needing crypto collateral.

Website

Total Founding

$52.7 million

Backers

Andreessen Horowitz (a16z), Coinbase Ventures, Kindred Ventures, and other prominent investors.

Core Products

Goldfinch Protocol — allows borrowers (credit funds, fintechs) to access capital from a global pool of crypto lenders via a senior/junior pool structure.

Supported Assets

Off-chain loans to real-world credit businesses (e.g., fintech lending companies) in emerging markets.

Networks

Ethereum.

Target Customers

Crypto lenders, credit funds, and fintech companies in emerging markets.

Key Features

No crypto collateral required. Senior and Junior capital pools. On-chain credit scoring (via Auditors). Decentralized and global borrower pool.

Centrifuge

Founded:

2017

A decentralized credit protocol bridging real-world assets like invoices and mortgages to DeFi, making private credit more accessible.

Website

Total Founding

$27.1 million

Backers

ParaFi, Coinbase Ventures, BlockTower, Galaxy Digital, and other venture investors.

Core Products

Centrifuge Protocol — enables borrowers to tokenize assets like invoices, real estate, and royalties, and use them as collateral to access liquidity from DeFi.

Supported Assets

Invoices, real estate, mortgages, royalty streams, consumer loans, and other forms of private credit.

Networks

Ethereum, Polkadot, and other chains via bridges.

Target Customers

Small and medium-sized businesses, asset originators, and DeFi investors.

Key Features

Undercollateralized lending. Asset tokenization via NFTs. Open marketplace (Tinlake) for investment. Permissioned pools with KYC/AML.

MatrixDock

Founded:

2023

An Asia-leading platform enabling tokenization of real-world assets like gold and U.S. Treasury bills—blending trusted finance with on-chain transparency.

Website

Total Founding

Matrixport, the parent company, has raised $138 million.

Backers

Backed by Matrixport; Matrixport itself is funded by prominent VCs including Paradigm and Dragonfly.

Core Products

STBT: Short-Term U.S. Treasury Bill token, pegged 1:1 to USD, offering yield via reverse repo collateral. XAUm: Gold-backed token, with options for physical redemption.

Supported Assets

Short-term U.S. Treasuries (via STBT). Physical gold (via XAUm) with plans to expand into silver, platinum, and palladium.

Networks

Deploys on chains including Ethereum and BNB Chain, facilitating DeFi integrations.

Target Customers

Institutional and crypto users seeking exposure to blue-chip, compliant real-world assets in a programmable and transparent on-chain format.

Key Features

High transparency via on-chain Proof of Reserve. Secure custody with Brink’s insurance-standard vaults. Smart-Invest DCA. Expansion to multiple precious metals.

Ondo

Founded:

2021

Tokenizing real-world assets (RWAs) to bring institutional-grade investment products on-chain.

Website

Total Founding

$34 million

Backers

Founders Fund, Coinbase Ventures, Pantera Capital, Tiger Global.

Core Products

Ondo Tokenized Funds — tokenized exposure to U.S. Treasuries, bonds, and other yield-bearing traditional assets.

Supported Assets

U.S. Treasuries (OUSG), short-term bonds, money market funds, stablecoins.

Networks

Ethereum, Solana (via bridges).

Target Customers

Institutional investors, DAOs, high-net-worth individuals, DeFi protocols seeking stable yield.

Key Features

Tokenized U.S. Treasuries. Institutional compliance & KYC. On-chain settlement & transfers.

Risk & Circulation Layer

Capital Circulation

Custody Providers

Copper

Founded:

2018

A digital asset custody and prime brokerage platform providing secure storage and trading infrastructure for institutions.

Website

Total Assets Under Custody (AUC)

Over $20 billion (as of 2024)

Core Product(s)

Copper Clear — custody, settlement, and prime brokerage services with advanced security features.

Supported Assets

Bitcoin, Ethereum, stablecoins, and a broad range of digital assets.

Networks

Ethereum, Bitcoin, Binance Smart Chain, Solana, and others.

Target Customers

Institutional investors, hedge funds, family offices, and trading firms.

Key Features

Multi-party computation (MPC) wallet security, Instant settlement and trade execution, Insurance and regulatory compliance, Integrated prime brokerage services.

BitGo

Founded:

2013

A pioneer institutional digital asset custody provider offering secure wallets and liquidity solutions.

Website

Total Assets Under Custody (AUC)

Over $60 billion (as of 2024)

Core Product(s)

BitGo Custody Platform — multi-signature wallets, cold storage, instant transfers, and liquidity services.

Supported Assets

Bitcoin, Ethereum, stablecoins, over 300 cryptocurrencies, and NFTs.

Networks

Ethereum, Bitcoin, Binance Smart Chain, Solana, Polygon, and others.

Target Customers

Institutional investors, exchanges, hedge funds, and financial institutions.

Key Features

Multi-signature wallet security, Cold storage and hot wallet solutions, Insurance coverage options, Regulatory compliance and audit support.

Cobo

Founded:

2017

A multi-chain digital asset custody and wallet platform focused on security and ease of use for individuals and institutions.

Website

Total Assets Under Custody (AUC)

Over $10 billion (estimated)

Core Product(s)

Cobo Wallet and Custody Platform — multi-signature wallet, staking services, and institutional-grade custody solutions.

Supported Assets

Bitcoin, Ethereum, Binance Smart Chain tokens, stablecoins, NFTs, and other major cryptocurrencies.

Networks

Ethereum, Bitcoin, Binance Smart Chain, Solana, Polygon, and others.

Target Customers

Retail users, crypto funds, exchanges, and institutional clients seeking secure custody and staking.

Key Features

Multi-signature and MPC wallet security, Integrated staking and yield services, Support for NFTs and DeFi assets, User-friendly interface and mobile app.

Anchorage Digital

Founded:

2017

A federally chartered digital asset bank offering secure custody, trading, and financing services for institutional clients.

Website

Total Assets Under Custody (AUC)

Over $80 billion (as of 2024)

Core Product(s)

Anchorage Digital Platform — insured custody, staking, trading, governance voting, and compliance solutions.

Supported Assets

Bitcoin, Ethereum, stablecoins, DeFi tokens, NFTs, and other major digital assets.

Networks

Ethereum, Bitcoin, Solana, Polkadot, Avalanche, and others.

Target Customers

Institutional investors, hedge funds, venture capital firms, and regulated financial institutions.

Key Features

Federally chartered trust bank status, Insurance coverage on assets, Integrated staking and governance services, Regulatory compliance and audit-ready infrastructure.

Fireblocks

Founded:

2018

A leading digital asset custody, transfer, and settlement platform designed for institutional investors and enterprises.

Website

Total Assets Under Custody (AUC)

Over $400 billion (as of 2024)

Core Product(s)

Fireblocks Platform — secure wallet infrastructure, MPC-based key management, instant transfer network, and asset tokenization services.

Supported Assets

Bitcoin, Ethereum, stablecoins, NFTs, and thousands of other digital assets.

Networks

Ethereum, Bitcoin, Solana, Avalanche, Polygon, Binance Smart Chain, and others.

Target Customers

Institutional investors, crypto exchanges, hedge funds, banks, custodians, and fintech firms.

Key Features

Multi-party computation (MPC) for secure key management, Secure transfer environment to prevent theft, Support for DeFi integrations and instant settlement, Compliance and audit tools.

Clearing & Payment Processing

Alchemy Pay

Founded:

2018

A hybrid payment system that connects fiat and crypto economies, providing on/off-ramp, crypto card, and payment processing services.

Website

Total Founding

$10+ million (from strategic funding rounds)

Backers

DWF Labs, QFPay, and other venture investors.

Core Products

Alchemy Pay Payment Gateway - provides on/off-ramps, crypto card solutions, NFT checkout, and global merchant payment services.

Supported Assets

ACH and a wide range of cryptocurrencies and stablecoins; supports 50+ fiat currencies.

Networks

Ethereum, BNB Chain, Polygon, and others.

Target Customers

Businesses, developers, and crypto users needing a seamless bridge between fiat and crypto.

Key Features

Global coverage (173+ countries), Hybrid payment infrastructure (fiat & crypto), White-label solutions, Integrated on-off ramp services.

Celo Pay

Founded:

2017

Mobile-first crypto payments platform focused on fast, low-cost transactions on Celo network.

Website

Total Founding

$32 million

Backers

Andreessen Horowitz, Polychain Capital

Core Products

Celo Pay app with wallet, payments, and stablecoin support.

Supported Assets

CELO, cUSD (Celo Dollar), other Celo assets.

Networks

Celo blockchain.

Target Customers

Retail users, developers, businesses wanting mobile crypto payments.

Key Features

Mobile payments, Low fees, Fast settlement, Integration with Celo ecosystem.

Stably

Founded:

2018

Stablecoin issuance and payment solutions enabling fiat-backed digital assets on blockchain.

Website

Total Founding

$40+ million

Backers

Pantera Capital, Blocktower Capital

Core Products

Stably stablecoins, fiat-crypto payment gateways.

Supported Assets

USDS stablecoin and fiat currencies.

Networks

Ethereum, Binance Smart Chain.

Target Customers

Enterprises, payment processors, crypto exchanges.

Key Features

Regulated stablecoin issuance, Fiat-to-crypto gateways, Compliance, Multi-platform support.

Circle APIs

Founded:

2013

Provides programmable APIs for fiat-to-crypto payments, stablecoin issuance, and real-time settlement.

Website

Total Founding

$440+ million

Backers

Goldman Sachs, Baillie Gifford, Fidelity, BlackRock

Core Products

Circle APIs for USDC stablecoin issuance, payments, and treasury management.

Supported Assets

USDC and other stablecoins.

Networks

Ethereum, Solana, Algorand, Stellar.

Target Customers

Enterprises, fintechs, developers building crypto payment solutions.

Key Features

Real-time settlement, Programmable APIs, Fiat and stablecoin on/off ramps, Regulatory compliance.

On–Off Ramp

Onramper

Founded:

2019

An aggregator platform that doesn't process transactions itself, but rather integrates multiple on-ramp service providers to intelligently match users with the best rates and payment options.

Website

Total Founding

~$6 million

Backers

EQT Ventures, Backed VC, TRGC

Core Products

A single, non-custodial widget that aggregates multiple on-ramp providers (including MoonPay, Transak, Banxa) to offer the best deals.

Supported Assets

The combined list of all its integrated providers, offering over 150 cryptocurrencies.

Networks

All networks supported by its partners, including Ethereum, Bitcoin, Solana, and others.

Target Customers

Any Web3 application, wallet, or user looking for the most efficient and cost-effective on-ramp option without having to check multiple providers.

Key Features

Aggregator model for best prices Single point of integration Non-custodial (depending on the chosen partner) Supports all currencies and payment methods of its partners.

Banxa

Founded:

2014

A highly compliant, publicly listed (TSX-V: BNXA) company that offers a full suite of fiat and crypto on-off ramp solutions for businesses.

Website

Total Founding

Publicly listed (IPO in 2020)

Backers

Thorney Investment Group, Alium Capital Management

Core Products

B2B fiat on-ramp and off-ramp solutions, including a fully compliant gateway and API for partners.

Supported Assets

A wide range of cryptocurrencies and stablecoins, including BTC, ETH, and USDC.

Networks

Bitcoin, Ethereum, and a broad selection of other chains depending on the partner.

Target Customers

Crypto platforms, exchanges, and businesses that require a highly compliant, regulated solution for their users.

Key Features

Publicly listed and regulated Full-stack compliance (KYC/AML) High-volume transaction support for businesses Global reach

Ramp Network

Founded:

2019

Emphasizes a non-custodial model and a simplified user experience, allowing users to buy and sell cryptocurrencies without leaving the application.

Website

Total Founding

~$1.9 billion

Backers

Accel, Founders Fund, Addition, GIC, Coatue, General Catalyst

Core Products

APIs, SDKs, and embeddable widgets for both on-ramping and off-ramping, with a focus on simplicity and security.

Supported Assets

Over 110 cryptocurrencies, including BTC, ETH, and various stablecoins and tokens.

Networks

Ethereum, Polygon, Solana, Avalanche, and many others, including support for EVM and non-EVM chains.

Target Customers

Exchanges, wallets, merchants, and developers who prioritize a seamless, non-custodial experience.

Key Features

Non custodial model Simplified user interface Multi-currency support High conversion rates

Transak

Founded:

2018

Focuses on providing highly customizable developer tools, making it easy for Web3 applications to integrate fiat on-off ramp functionality and interact directly with smart contracts.

Website

Total Founding

~$26 million

Backers

Blockchain.com, Coinbase Ventures, Animoca Brands, Tether, IDG Capital

Core Products

API, widgets, and an SDK suite for fiat-to-crypto and crypto-to-fiat services, including a product for corporate clients.

Supported Assets

Over 136 cryptocurrencies and 27 fiat currencies.

Networks

Over 45 blockchains, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Solana, and Base.

Target Customers

Developers, wallets, exchanges, and businesses seeking to integrate fiat-to-crypto solutions.

Key Features

Highly customizable API Support for a vast number of cryptos and chains Corporate on/off-ramp services Chargeback protection

MoonPay

Founded:

2019

A global fiat on-off ramp service known for its wide variety of payment methods and strong brand recognition, often integrated into major crypto applications.

Website

Total Founding

~$650.7 million

Backers

Tiger Global, Coatue, Paradigm, CRV, a16z, and various celebrities

Core Products

API and SDK for fiat-to-crypto purchases and crypto-to-fiat sales via cards, bank transfers, and Apple Pay.

Supported Assets

Over 100 cryptocurrencies, including BTC, ETH, SOL, USDT, USDC.

Networks

Ethereum (EVM chains), Bitcoin, Solana, Binance Smart Chain, Polygon, Arbitrum, Optimism, and Base.

Target Customers

Crypto exchanges, wallets, merchants, developers, and individual users.

Key Features

Fast onboardingMultiple payment methods Global coverage (160+ countries) Robust compliance and fraud detection

Liquidity Providers

Cumberland

Founded:

2014

The cryptocurrency trading arm of DRW Holdings, providing institutional-sized liquidity provision and OTC trading services in digital assets to a global client base.

Website

Total Founding

Part of DRW, a diversified trading firm established in 1992; specific funding details for Cumberland are not publicly disclosed.

Backers

DRW Holdings (parent company)

Core Products

Institutional OTC (Over-The-Counter) trading for large block trades; market-making on major cryptocurrency exchanges; liquidity provision for digital asset markets.

Supported Assets

Broad range of cryptocurrencies including Bitcoin, Ethereum, stablecoins, and various altcoins.

Networks

Multiple blockchains, including Bitcoin, Ethereum, and others depending on asset support.

Target Customers

Institutional investors, hedge funds, cryptocurrency exchanges, large-volume traders.

Key Features

Institutional-grade liquidity, Expertise in complex crypto derivatives, Global OTC trading capabilities, Strong risk management framework

Wintermute

Founded:

2017

A leading global algorithmic trading firm specializing in providing liquidity across cryptocurrency markets, offering market-making and OTC trading services to institutions and token projects.

Website

Total Founding

Raised $20 million in Series B funding led by Lightspeed Venture Partners.

Backers

Lightspeed Venture Partners, Pantera Capital, Fidelity Digital Assets, Blockchain.com Ventures

Core Products

Algorithmic market making on centralized exchanges and DeFi protocols; OTC (Over-The-Counter) trading for institutional clients; liquidity provision for token projects.

Supported Assets

A wide range of digital assets and cryptocurrencies.

Networks

Multiple blockchains, including Ethereum, Solana, Polygon, Binance Smart Chain, and others.

Target Customers

Cryptocurrency exchanges, DeFi platforms, institutional investors, token projects and issuers.

Key Features

Algorithmic trading excellence, Extensive liquidity coverage across markets, Robust OTC desk for large trades, Active participation in DeFi governance

Jump Crypto

Founded:

2021

The cryptocurrency division of Jump Trading, providing liquidity and market-making services across various digital asset platforms, and engaging in Web3 infrastructure development and investments.

Website

Total Founding

Part of Jump Trading, a proprietary trading firm established in 1999; specific funding details for Jump Crypto are not publicly disclosed.

Backers

Jump Trading (parent company)

Core Products

Proprietary algorithmic trading and market-making services across centralized and decentralized venues; investments in and development of Web3 infrastructure and protocols.

Supported Assets

All major cryptocurrencies and digital assets.

Networks

Multiple blockchains, including Ethereum, Solana, Avalanche, and others.

Target Customers

Cryptocurrency exchanges, DeFi platforms, institutional clients, Web3 projects.

Key Features

High-frequency trading, Institutional-grade liquidity provision, Market-making in volatile crypto markets, Active investments in Web3 infrastructure

1inch

Founded:

2019

A DEX aggregator that finds the most efficient and cost-effective trading routes across multiple decentralized exchanges.

Website

Total Founding

Raised $14 million from investors including Binance, Pantera Capital

Backers

Binance Labs, Pantera Capital, Galaxy Digital

Core Products

1inch Aggregation Protocol — routes orders across multiple DEXs for best price and low slippage.

Supported Assets

ERC-20 tokens

Networks

Ethereum, Polygon, Binance Smart Chain, Arbitrum

Target Customers

DeFi traders, arbitrageurs, liquidity seekers

Key Features

DEX aggregation, Smart order routing, Gas optimization

Balancer

Founded:

2020

A flexible AMM protocol that enables multi-token liquidity pools and acts as an automated portfolio manager.

Website

Total Founding

Raised $12 million from investors like Framework Ventures

Backers

Framework Ventures, ParaFi Capital

Core Products

Balancer Pools — customizable AMMs with multi-token liquidity pools and dynamic fees.

Supported Assets

ERC-20 tokens

Networks

Ethereum, Polygon, Arbitrum

Target Customers

DeFi users, portfolio managers, liquidity providers

Key Features

Customizable pools, Dynamic fees, Multi-token liquidity provision

Curve Finance

Founded:

2020

A decentralized exchange optimized for low-slippage swaps between stablecoins and other similarly-priced assets.

Website

Total Founding

Raised $30 million from investors including Andreessen Horowitz

Backers

Andreessen Horowitz, Paradigm Capital

Core Products

Curve Pools — AMM pools designed for low slippage stablecoin swaps

Supported Assets

Stablecoins and pegged assets like USDC, DAI, USDT, sUSD

Networks

Ethereum, Polygon, Fantom

Target Customers

Stablecoin traders, DeFi users

Key Features

Low slippage for stablecoins, Optimized for low fee swaps

Uniswap

Founded:

2018

A decentralized automated market maker (AMM) protocol that facilitates peer-to-peer cryptocurrency transactions by using liquidity pools.

Website

Total Founding

Raised $11 million in early rounds (mostly community funded)

Backers

Andreessen Horowitz, Union Square Ventures

Core Products

Uniswap V3 — concentrated liquidity AMM enabling efficient trades and liquidity provision.

Supported Assets

ERC-20 tokens

Networks

Ethereum, Polygon, Arbitrum, Optimism

Target Customers

DeFi traders, liquidity providers

Key Features

Concentrated liquidity, Flexible fee tiers, Permissionless liquidity provision

BaaS - Banking as a service

Mambu

Founded:

2011

A SaaS cloud banking platform enabling financial institutions to build and deploy banking products.

Website

Total Founding

$174 million

Backers

TCV, Bessemer Venture Partners, Runa Capital

Core Products

Mambu Platform — core banking, lending, deposit products, financial services

Supported Assets

Fiat currencies globally

Networks

Various banking networks globally

Target Customers

Banks, fintechs, financial institutions

Key Features

- Composable banking architecture- Cloud-native platform- Rapid product deployment- Scalability

ClearBank

Founded:

2015

A UK-based cloud-native clearing and embedded banking provider with a full banking license.

Website

Total Founding

£195 million

Backers

PPF Group, Apax Digital

Core Products

ClearBank Platform — real-time clearing, embedded banking, FSCS-protected accounts

Supported Assets

Fiat currencies (GBP)

Networks

UK payment schemes (Faster Payments, Bacs, CHAPS)

Target Customers

Fintech companies, established banks, regulated financial institutions

Key Features

- Real-time clearing- Embedded banking- FSCS-protected accounts

Solaris SE

Founded:

2016

A European embedded finance platform with a full German banking license, offering modular BaaS solutions.

Website

Total Founding

€350 million

Backers

BBVA, Visa, SBI Group, Lakestar

Core Products

Solaris SE Platform — accounts, cards, lending, digital assets, compliance services

Supported Assets

Fiat currencies (EUR)

Networks

SEPA, SWIFT

Target Customers

Fintech enterprises, corporations across Europe

Key Features

- Modular BaaS solutions- Accounts- Cards- Lending products- Digital assets- Compliance services

Railsr

Founded:

2016

An embedded finance platform offering banking, wallets, cards, and credit via a unified API.

Website

Total Founding

Over $100 million

Backers

Visa, Moneta Capital

Core Products

Railsr Platform — embedded banking, card issuing, payment processing, compliance tools

Supported Assets

Fiat currencies (GBP, EUR, USD)

Networks

UK and EU banking infrastructure, SEPA, Faster Payments

Target Customers

Fintech companies, established brands

Key Features

- Integrated platform- Developer-centric- Global reach & scalability

Marqeta

Founded:

2010

A modern card issuing platform providing APIs for creating and managing payment cards.

Website

Total Founding

Over $150 million (total disclosed funding around $1.2B)

Backers

Visa, ICONIQ Capital, Goldman Sachs

Core Products

Marqeta Platform — card issuance, payment processing, digital wallets

Supported Assets

Fiat currencies globally

Networks

Global card networks, ACH

Target Customers

Fintech innovators, digital banks, large enterprises

Key Features

- Flexible card issuance- Robust APIs & developer tools- Embedded finance solutions- Risk & compliance support

Modulr

Founded:

2015

A banking and payments API platform powering embedded finance for businesses and fintechs.

Website

Total Founding

$45 million

Backers

Highland Europe, BGF Ventures

Core Products

Modulr Platform — instant payments, accounts, direct debits, card issuance

Supported Assets

Fiat currencies (GBP, EUR, USD)

Networks

UK Faster Payments, Bacs, SEPA, FPS

Target Customers

Fintechs, payment service providers, platforms

Key Features

- Instant payments- API-first banking- Direct debit & faster payments- Real-time reconciliation

Stripe

Founded:

2010

A global payments platform offering APIs for payments, billing, and financial services.

Website

Total Founding

Private company valued at ~$95B in latest rounds

Backers

Sequoia Capital, Andreessen Horowitz, Tiger Global

Core Products

Stripe APIs — payments, billing, issuing, treasury management

Supported Assets

Fiat currencies globally

Networks

Global card networks, ACH, SEPA, SWIFT

Target Customers

Online businesses, marketplaces, platforms, developers

Key Features

- Global payment acceptance- Developer-friendly APIs- Fraud detection- Subscription billing

BVNK

Founded:

2019

A BaaS platform offering integrated banking infrastructure, including accounts, payments, and compliance, enabling fintechs and crypto businesses to launch faster.

Website

Total Founding

$38 million

Backers

Core Products

BVNK Platform — bank accounts, card issuance, payment processing, compliance services

Supported Assets

Fiat currencies (GBP, EUR, USD), crypto-related payments

Networks

UK and EU banking infrastructure, SEPA, Faster Payments

Target Customers

Fintech startups, crypto firms, marketplaces

Key Features

- Full banking stack API- Compliance & KYC- Card issuing- Faster payments integration

Compliance, Security & Analytics

Identity Verification, KYB, KYC

ComplyAdvantage

Founded:

2014

AI-powered platform for AML compliance, transaction monitoring, and risk management.

Website

Total Founding

$108.2 million

Backers

Index Ventures, Balderton Capital, Insight Partners

Core Products

AML transaction monitoring, payment screening, PEP and sanctions screening

Supported Assets

Financial transactions and entities for risk assessment

Networks

API-based integrations

Target Customers

Financial institutions, fintechs, crypto businesses, and regulated industries

Onfido

Founded:

2012

Identity verification platform leveraging AI and biometrics to streamline customer onboarding.

Website

Total Founding

$200 million

Backers

SBI Investment, Salesforce Ventures, Oxford Sciences Innovation

Core Products

AI-driven identity verification, document checks, biometric analysis

Supported Assets

Global identity documents

Networks

API integrations with client platforms

Target Customers

Financial services, gaming, healthcare, and government

Jumio

Founded:

2010

AI-driven identity verification and authentication solutions for businesses.

Website

Total Founding

$203 million

Backers

Centana Growth Partners, Great Hill Partners, Visa

Core Products

AI-driven identity verification, document verification, biometric authentication

Supported Assets

Global identity documents

Networks

API integrations with client platforms

Target Customers

Fintechs, financial services, gaming, healthcare, and sharing economy

Trulioo

Founded:

2011

Global identity verification platform providing AML, KYC, and business verification services.

Website

Total Founding

$476 million

Backers

TCV, Blumberg Capital, Citi Ventures

Core Products

Global identity verification, AML screening, electronic identity verification, business verification

Supported Assets

Global identity documents

Networks

API-based integrations

Target Customers

Banks, payment providers, fintechs, healthcare, and retail

Persona

Founded:

2018

Customizable identity verification and KYC platform with adaptive workflows for businesses.

Website

Total Founding

$67 million

Backers

Founders Fund, Coatue, Lightspeed Venture Partners

Core Products

Identity verification platform with adaptive workflows, document & biometric checks

Supported Assets

Global identity documents

Networks

API-based integrations

Target Customers

Enterprises, fintechs, online platforms, healthcare, and real estate

Veriff

Founded:

2015

AI-powered identity verification platform specializing in KYC and AML compliance for global markets.

Website

Total Founding

$228.8 million

Backers

Accel, IVP, NordicNinja VC

Core Products

Identity verification using biometrics, facial recognition, and document scanning

Supported Assets

Global identity documents

Networks

API integrations with client platforms

Target Customers

Banks, fintechs, crypto platforms, mobility, and gaming

Sumsub

Founded:

2015

Full-cycle verification platform providing KYC, KYB, AML, and transaction monitoring solutions.

Website

Total Founding

$30 million

Backers

Alven Capital, RTP Global, Concentric

Core Products

KYC/KYB identity verification, document verification, AML screening, transaction monitoring

Supported Assets

Supports global identity documents and businesses

Networks

API integrations with client platforms

Target Customers

Fintechs, crypto businesses, marketplaces, gaming, and banking

Chainalysis

Founded:

2014

Blockchain analysis and compliance platform offering transaction monitoring and identity verification for crypto businesses.

Website

Total Founding

$366 million

Backers

Accel, Addition, Benchmark, Ribbit Capital

Core Products

Transaction monitoring, risk intelligence, blockchain forensics, compliance APIs

Supported Assets

Crypto assets and blockchain transaction data

Networks

Blockchain data integrations, API-based

Target Customers

Crypto exchanges, financial institutions, DeFi protocols, government agencies

Data & Analytics Tools

Arkham Intelligence

Founded:

2020

Blockchain intelligence platform utilizing AI to deanonymize blockchain transactions.

Website

Total Founding

$12 million

Backers

Coinbase Ventures, Palantir Founders Fund, Paradigm

Core Products

Entity identification, transaction tracing, AI-driven analytics, data visualization

Supported Assets

Various cryptocurrencies and blockchain networks

Networks

Multiple blockchain networks

Target Customers

Traders, investors, researchers, law enforcement

Key Features

- AI-driven deanonymization- Wallet identification- Transaction analysis- Data visualization- API access

The Graph

Founded:

2018

Decentralized protocol for indexing and querying blockchain data for decentralized applications.

Website

Total Founding

$69.6 million

Backers

Multicoin Capital, Reciprocal Ventures, Digital Currency Group

Core Products

Subgraph creation, decentralized indexing, GraphQL APIs

Supported Assets

Multiple blockchains (Ethereum, Polygon, BNB Chain, etc.)

Networks

Ethereum, Polygon, BNB Chain, Avalanche, Arbitrum, Celo, etc.

Target Customers

Developers, decentralized application builders, data consumers

Key Features

- Subgraphs for data indexing- Decentralized network- Multi-blockchain support- Developer-friendly APIs- Open-source protocol

Elliptic

Founded:

2013

Blockchain analytics firm specializing in cryptoasset compliance and investigations.

Website

Total Founding

$100 million

Backers

SBI Holdings, Wells Fargo Strategic Capital, SoftBank

Core Products

Risk scoring, wallet monitoring, transaction screening, investigative services

Supported Assets

Over 100 digital assets and major blockchains

Networks

Global blockchain data integrations

Target Customers

Financial institutions, crypto businesses, government agencies

Key Features

- Risk scoring- Wallet monitoring- Transaction screening- Compliance reporting- Investigations

Chainalysis

Founded:

2014

Blockchain data platform offering compliance, risk management, and transaction analysis.

Website

Total Founding

$366.6 million

Backers

Accel, Addition, Benchmark, Ribbit Capital

Core Products

Transaction monitoring, risk intelligence, blockchain forensics, investigations

Supported Assets

Crypto assets and blockchain transaction data

Networks

Global blockchain data integrations

Target Customers

Crypto businesses, regulators, financial institutions, law enforcement

Key Features

- Real-time transaction monitoring- AML compliance- Risk scoring- Investigative tools

Glassnode

Founded:

2017

On-chain market intelligence platform offering comprehensive blockchain data and metrics.

Website

Total Founding

Not publicly disclosed

Backers

Coinbase Ventures, Digital Currency Group

Core Products

On-chain metrics, alerts, and market indicators, custom dashboards

Supported Assets

Major cryptocurrencies (Bitcoin, Ethereum, etc.)

Networks

Ethereum, Bitcoin, Binance Smart Chain, Litecoin, Bitcoin Cash, etc.

Target Customers

Investors, traders, asset managers, researchers

Key Features

- On-chain metrics- Alerts- Market insights- Data visualization

Kaiko

Founded:

2014

Provider of institutional-grade cryptocurrency market data and analytics.

Website

Total Founding

$24 million

Backers

Anthemis Group, Underscore VC, Point Nine Capital

Core Products

Real-time and historical market data APIs, exchange data, custom data feeds

Supported Assets

Major cryptocurrencies, fiat pairs

Networks

Multiple blockchains and centralized exchanges globally

Target Customers

Institutional investors, exchanges, hedge funds, asset managers

Key Features

- Market data APIs- Historical data- Exchange order book data- Customizable data solutions

Dune

Founded:

2018

A community-driven blockchain analytics platform enabling custom queries and dashboards.

Website

Total Founding

$79.4 million

Backers

Union Square Ventures, Coatue, Multicoin Capital

Core Products

SQL-based query engine, dashboards, data visualization, API access

Supported Assets

Multiple blockchains and tokens

Networks

Ethereum, Polygon, Binance Smart Chain, Solana, Avalanche, Optimism, Arbitrum, Gnosis Chain, etc.

Target Customers

Analysts, developers, researchers, decentralized applications

Key Features

- Custom SQL queries- Community dashboards- Open data sharing- Real-time data visualization

Nansen

Founded:

2020

On-chain analytics platform combining blockchain data with wallet labels to provide actionable insights.

Website

Total Founding

$75 million

Backers

Andreessen Horowitz, Coinbase Ventures, Tiger Global

Core Products

Analytics dashboards, wallet labeling, token tracking, NFT analytics

Supported Assets

Ethereum, Bitcoin, major Layer 1s and tokens, NFTs

Networks

Ethereum, Binance Smart Chain, Polygon, Avalanche, Arbitrum, Optimism, Fantom, etc.

Target Customers

Traders, investors, DeFi projects, analysts, institutions

Key Features

- Wallet labels and profiling- Token flow tracking- NFT analytics- Smart alerts- Research portal

On-chain Security

ConsenSys Diligence

Founded:

2016

Ethereum-focused security service offering smart contract audits and security tools.

Website

Total Founding

Not publicly disclosed

Backers

Not publicly disclosed

Core Products

Smart contract audits, security analysis tools, incident response planning.

Supported Assets

Ethereum-based smart contracts, DeFi protocols.

Networks

Ethereum & EVM chains.

Target Customers

Ethereum projects, DeFi protocols.

Key Features

- Smart contract audits- Security analysis tools- Incident response planning- Educational resources

PeckShield

Founded:

2018

Blockchain security company specializing in smart contract audits and threat monitoring.

Website

Total Founding

Not publicly disclosed

Backers

Not publicly disclosed

Core Products

Smart contract audits, threat monitoring, security assessments.

Supported Assets

Various cryptocurrencies and blockchain protocols.

Networks

Multi-chain.

Target Customers

DeFi projects, exchanges, enterprises.

Key Features

- Smart contract audits- Threat monitoring- Emergency response- Vulnerability analysis- KYC/AML services

Trail of Bits

Founded:

2012

Premier cybersecurity research and audit firm for smart contracts, protocols, and infrastructure.

Website

Total Founding

No external financing

Backers

No external investors

Core Products

Security assessments and audits for complex protocols and infrastructure.

Supported Assets

DeFi, enterprise blockchain, government contracts.

Networks

Multi-protocol, chain-agnostic.

Target Customers

High-risk systems, DeFi teams, enterprises, government agencies.

Key Features

- Advanced security research- Government & defense projects- Attack simulation- Vulnerability research- Open-source security tools

OpenZeppelin

Founded:

2015

Industry-leading smart contract security firm with top-tier audit services and widely-used open-source libraries.

Website

Total Founding

$37.4M

Backers

Intersection Growth Partners, Coinbase Ventures, Continue Capital, IDEO CoLab Ventures, IDEO Futures

Core Products

Security audits, OpenZeppelin Contracts library, Defender platform.

Supported Assets

DeFi, token issuance, stablecoins, governance contracts.

Networks

Ethereum & EVM chains.

Target Customers

DeFi projects, enterprises, token issuers.

Key Features

- Gold-standard audits- Widely trusted open-source contracts- Defender platform for operations- Secure development best practices

CertiK

Founded:

2018

Blockchain security platform providing smart contract auditing, penetration testing, and real-time monitoring.

Website

Total Founding

$30 million

Backers

Binance Labs, Sequoia Capital, Matrix Partners

Core Products

Smart contract audits, security ratings, bug bounty programs, and real-time monitoring.

Supported Assets

Smart contracts on Ethereum, Binance Smart Chain, Polygon, and other blockchains

Networks

Ethereum, Binance Smart Chain, Polygon, and other major blockchains

Target Customers

DeFi projects, exchanges, enterprises, financial institutions

Key Features

- Comprehensive audits- Security scoring- Bug bounty programs- Continuous monitoring- Skynet real-time monitoring

Quantstamp

Founded:

2017

Blockchain security auditing platform offering smart contract audits and formal verification.

Website

Total Founding

$23 million

Backers

Pantera Capital, Binance Labs, Coinbase Ventures

Core Products

Smart contract security audits, vulnerability assessments, and formal verification.

Supported Assets

Smart contracts on Ethereum and other EVM-compatible chains

Networks

Ethereum, Binance Smart Chain, Polygon, Fantom, Avalanche

Target Customers

DeFi projects, blockchain startups, enterprises

Key Features

- Automated and manual audits- Formal verification- Vulnerability scanning- Layer-1 blockchain audits

Chainlink Proof of Reserve (PoR)

Founded:

2017

Decentralized oracle solution providing transparent and verifiable proof of reserves for assets.

Website

Total Founding

Chainlink overall raised $45 million (includes PoR component)

Backers

Framework Ventures, ParaFi Capital, Digital Currency Group

Core Products

Proof of Reserve oracle services delivering real-time on-chain asset reserve verification.

Supported Assets

Digital assets held in custody for reserve verification

Networks

Ethereum, Binance Smart Chain, Avalanche, Arbitrum, Optimism, Fantom

Target Customers

Custodians, DeFi protocols, exchanges

Key Features

- Decentralized and transparent reserve proofs - Real-time on-chain data- Oracle reliability- Automated verification

Licensed Custodians & Banking Partners

Zodia Custody

Founded:

2020

UK FCA-registered crypto business backed by Standard Chartered and Northern Trust, providing institutional-grade custody solutions.

Website

Licenses/Regulatory Status

Registered with the UK Financial Conduct Authority (FCA); presence in Singapore and Abu Dhabi.

Core Products/Service

- Institutional-grade custody solutions - Segregated accounts - Comprehensive insurance

Supported Assets

BTC, ETH, major altcoins, and stablecoins

Target Customers

Institutional investors, financial institutions

Key Features

- UK FCA registration - Backed by major traditional banks - Cold storage solutions - Robust security framework

Sygnum Bank

Founded:

2018

World's first digital asset bank with a full Swiss banking license, offering integrated crypto and fiat services.

Website

Licenses/Regulatory Status

Holds a full Swiss banking license from FINMA; also licensed in Singapore, Abu Dhabi, and Luxembourg.

Core Products/Service

- Integrated crypto and fiat banking - Custody, trading, and asset management - Tokenization services

Supported Assets

BTC, ETH, stablecoins, security tokens, and other digital assets

Target Customers

Institutional and private qualified investors

Key Features

- Full Swiss banking license - Integrated banking services - Institutional-grade security - Direct access to digital asset markets

Fireblocks

Founded:

2018

Enterprise-grade platform delivering secure infrastructure for moving, storing, and issuing digital assets.

Website

Licenses/Regulatory Status

Not a licensed custodian itself; provides technology infrastructure for licensed custodians.

Core Products/Service

- Secure digital asset custody, transfer, and issuance - Tokenization solutions

Supported Assets

Supports a wide range of cryptocurrencies and digital assets

Target Customers

Financial institutions, exchanges, OTC desks, hedge funds

Key Features

- Multi-Party Computation (MPC) technology - Secure enclave environment - API-driven integration - Comprehensive insurance

Anchorage Digital

Founded:

2017

First federally chartered cryptocurrency bank in the U.S., offering secure digital asset custody and financial services.

Website

Licenses/Regulatory Status

Federally chartered bank by the U.S. Office of the Comptroller of the Currency.

Core Products/Service

- Custody of digital assets - Trading and financing services - Staking and governance support

Supported Assets

BTC, ETH, ERC-20 tokens, and other major digital assets

Target Customers

Institutional investors, crypto funds, enterprises

Key Features

- Biometric authentication - Hardware security modules (HSM) - Compliance-focused infrastructure - Independent third-party audits

Dakota

Founded:

2018

Multi-jurisdiction licensed digital bank supporting crypto and fiat operations.

Website

Licenses/Regulatory Status

Holds banking licenses across multiple jurisdictions (specific details not widely public).

Core Products/Service

- Multi-jurisdiction custody - Digital banking accounts - Payment network integration

Supported Assets

Fiat currencies and major cryptocurrencies

Target Customers

Institutional clients, crypto exchanges, fintechs, multi-national businesses

Key Features

- Multi-jurisdiction licensing - Integrated fiat and crypto banking - Payment network connectivity

Noah

Founded:

2019

Licensed custodian and bank offering regulated fiat and crypto custody, along with cross-border payments.

Website

Licenses/Regulatory Status

Licensed custodian and bank in relevant jurisdictions (specific details not widely public).

Core Products/Service

- Custody for crypto and fiat - Cross-border payment services - Digital accounts for businesses

Supported Assets

Fiat (USD, EUR, GBP) and major cryptocurrencies

Target Customers

Fintechs, crypto businesses, exchanges, enterprises

Key Features

- Regulated custody and bank accounts - Cross-border payment support - AML/KYC compliance

Interlace

Founded:

2020

Digital-asset-friendly bank providing licensed custody, fiat accounts, and compliant payment services.

Website

Licenses/Regulatory Status

Licensed financial institution in its jurisdiction (specific details not widely public).

Core Products/Service

- Licensed custody for digital assets - Digital bank accounts. - Payment rails and API integration

Supported Assets

Fiat (USD, EUR) and major cryptocurrencies (BTC, ETH, stablecoins)

Target Customers

Crypto startups, fintechs, institutional investors, digital asset platforms

Key Features

- Compliance with banking regulations - Secure custody and transaction management - API access for payments and settlement

Foundational Layer

Issuers

Fiat-collateralized (Centralized)

USD Coin (USDC)

Launched Year:

2018

A fully reserved, fiat-backed stablecoin issued by Circle, designed for regulated, transparent, and institutional-grade use.

Website

Blockchain Platform

Ethereum, Solana, Polygon, and others

Regulatory Compliance

Emphasizes regulatory compliance with regular attestations and audits.

Market Capitalization

Approximately $61 billion average circulation in Q2 2025.

TrueUSD (TUSD)

Launched Year:

2018

A fully collateralized stablecoin offering real-time attestations, ensuring transparency and trust.

Website

Blockchain Platform

Ethereum, Tron, BNB Chain

Regulatory Compliance

Provides real-time attestations and complies with U.S. regulations.

Market Capitalization

Market cap data varies, known for transparency and regular audits.

Tether (USDT)

Launched Year:

2014

The world’s most widely used stablecoin, pegged 1:1 to the U.S. dollar.

Website

Blockchain Platform

Ethereum, Tron, Solana, and others

Regulatory Compliance

Operates under various jurisdictions; has faced scrutiny over transparency.

Market Capitalization

Over $114 billion as of August 2024.

PayPal USD (PYUSD)

Launched Year:

2023

A U.S. dollar-backed stablecoin issued by Paxos and launched by PayPal, designed for seamless integration into digital payments.

Website

Blockchain Platform

Ethereum, Solana

Regulatory Compliance

Issued by Paxos, a regulated entity under the New York State Department of Financial Services.

Market Capitalization

Surpassed $1 billion in market cap by August 2024.

Pax Dollar (USDP)

Launched Year:

2018

A regulated U.S. dollar-backed stablecoin issued by Paxos, emphasizing compliance and transparency.

Website

Blockchain Platform

Ethereum

Regulatory Compliance

Regulated by the New York State Department of Financial Services, with regular audits.

Market Capitalization

Market cap data varies, known for transparency and regular audits.

Binance USD (BUSD)

Launched Year:

2019

A U.S. dollar-backed stablecoin issued by Binance in partnership with Paxos, offering high liquidity and integration within the Binance ecosystem.

Website

Blockchain Platform

Ethereum, BNB Chain

Regulatory Compliance

Issued by Paxos, ensuring regulatory compliance and regular audits.

Market Capitalization

Market cap of $2.58 billion as of 2025.

Crypto-collateralized (Decentralized)

SKY

Sky

Year Launched:

2017 (Single-Collateral DAI), 2019 (Multi-Collateral DAI, now Sky

A decentralized, crypto-collateralized stablecoin soft-pegged to the U.S. dollar, issued by smart contracts governed by SKY.

Website

Issuing Mechanism

Users lock crypto collateral (via Maker Vaults) in smart contracts to mint SKY; the system uses over-collateralization and liquidation mechanisms to maintain price stability.

Collateral Types

ETH, wBTC, stETH, RWA (Real World Assets like U.S. Treasury notes), USDC, GUSD, MATIC, LINK, and more. Collateral types and risk parameters are voted on by MKR holders.

Governance Entity

SKY – a decentralized autonomous organization governed by MKR token holders through on-chain proposals and votes.

Dao Treasury

SKY Treasury holds over $2.5B+ in real-world assets (RWAs), crypto collateral, and protocol surplus, managed through governance-approved modules and smart contracts.

crvUSD

Year Launched:

2023

A decentralized overcollateralized stablecoin issued by Curve Finance, utilizing an innovative soft-liquidation mechanism called LLAMMA.

Website

Issuing Mechanism

Users mint crvUSD by depositing crypto collateral (currently wstETH, sfrxETH, and ETH) into the LLAMMA system, which manages liquidation as a continuous process rather than sudden auctions.

Collateral Types

ETH, wstETH (Wrapped Lido Staked ETH), sfrxETH (Staked Frax ETH).

Governance Entity

Curve DAO – governed by CRV token holders using on-chain voting mechanisms on Curve’s DAO platform.

Dao Treasury

Managed by Curve DAO; includes protocol fees (from trading), CRV tokens, and any surplus from crvUSD operations. Precise treasury data is community-audited and visible on-chain.

sUSD

Year Launched:

2018

A decentralized stablecoin soft-pegged to the U.S. dollar, minted through the Synthetix protocol using crypto-collateral and backed by stakers of SNX.

Website

Issuing Mechanism

Users stake SNX tokens (or other collateral accepted in Synthetix V3) to mint sUSD through Synthetix smart contracts. Debt is pooled, meaning all stakers share system-wide debt proportionally.

Collateral Types

Originally SNX only; now supports multiple forms of collateral in Synthetix V3, including ETH and LSTs (Liquid Staking Tokens), pending governance approval.

Governance Entity

Synthetix DAO – composed of various elected Spartan Councils, Core Contributors, and Protocol DAOs. Major decisions are made through governance proposals and community votes.

Dao Treasury

Synthetix Treasury includes protocol-generated fees, SNX token allocations, and treasury-controlled smart contracts. Specific spending is governed by elected treasurers and SIPs (Synthetix Improvement Proposals).

GHO

Year Launched:

2023

A decentralized, overcollateralized stablecoin native to the Aave ecosystem, governed entirely by Aave DAO.

Website

Issuing Mechanism

Users mint GHO by borrowing against collateral deposited in the Aave Protocol V3. Borrowers pay interest to the Aave DAO. GHO is backed by a basket of assets and enforces overcollateralization.

Collateral Types

Any asset accepted by Aave V3 markets (including ETH, wBTC, USDC, stETH, etc.). Collateral types are governed by the Facilitator framework, enabling various protocols/entities to mint GHO under DAO-approved rules.

Governance Entity

Aave DAO, governed by holders of AAVE tokens, makes all major decisions including GHO minting facilitators, interest rates (GHO borrow rate), and risk parameters.

Dao Treasury

GHO interest fees accrue directly to the Aave DAO treasury, creating a sustainable revenue stream. Treasury is used for ecosystem grants, development, audits, and governance incentives.

RAI

Year Launched:

2021

A non-pegged, algorithmic stable asset backed solely by ETH, designed to maintain price stability without reliance on fiat oracles or centralized assets.

Website

Issuing Mechanism

Users deposit ETH into the Reflexer protocol to mint RAI. The protocol uses a PID controller (proportional-integral-derivative) mechanism to adjust a redemption rate that incentivizes users to keep the market price close to a moving internal target price (“redemption price”).

Collateral Types

Only ETH (WETH).

Governance Entity

Initially governed by the Reflexer DAO, but the protocol has since moved toward "governance minimization," aiming to fully automate all core monetary policies over time.

Dao Treasury

The DAO treasury holds protocol fees and RAI/ETH LP tokens. It has limited use as the project progressively removes governance dependence.

Algorithmic / Hybrid Stablecoins

USDe

Year Launched:

February 2024

A yield-bearing stablecoin backed by staked assets like ETH, using a delta-neutral strategy.

Website

Stability Mechanism

Users mint USDe by depositing collateral (ETH, BTC). Maintains peg through delta-neutral hedging strategies in derivatives markets.

Collateral Type

Liquid-staked Ethereum (stETH), Bitcoin (BTC), and other crypto assets used in delta-neutral positions.

Governance Entity

Ethena Labs team, moving towards Ethena DAO governance.

Tokenomics

Accrues yield from delta-neutral strategies and interest from staked assets.

Total Funding

Raised $14.2M in seed and strategic rounds. Backers include Dragonfly, Arthur Hayes, BitMEX, Franklin Templeton.

Backers

Dragonfly, Arthur Hayes, BitMEX, Franklin Templeton.

UXD

Year Launched:

Founded in 2020 (originally as Soteria, rebranded to UXD); mainnet beta launched in January 2022.

A decentralized, capital-efficient stablecoin on Solana, fully backed by delta-neutral strategies such as perpetual derivatives.

Website

Stability Mechanism

UXD is backed 100% by delta-neutral positions—holding long collateral (e.g., SOL) and shorting equivalent perpetual futures—to maintain a stable value.

Collateral Type

Delta-neutral positions involving crypto assets and perpetual futures.

Governance Entity

Governed by holders of the UXP governance token (UXP DAO), who vote on protocol parameters, asset strategies, and treasury use.

Tokenomics

Dual-token model: UXD (the stablecoin itself, minted and redeemed at $1 via collateral deposits) and UXP (governance and reserve token, receiving revenue and serving as the final backstop via token auctions if the insurance fund is depleted).

Total Funding

Raised approximately $60.1 million

Backers

Backers include Multicoin Capital (lead), CMS Holdings, DeFiance Capital, Solana Foundation, Alameda Research, Mercurial Finance, and Solana co-founders Anatoly Yakovenko & Raj Gokal.

frxUSD

Year Launched:

Frax protocol launched Dec 2020. frxUSD launched Jan 2025.

A fiat-redeemable, fully-collateralized stablecoin issued by Frax Finance, utilizing a hybrid model with enshrined custodians and on-chain mechanisms, and backed by U.S. Treasury assets.

Website

Stability Mechanism

Originally fractional-algorithmic, now primarily backed by U.S. Treasury assets. Uses Algorithmic Market Operations (AMOs) for supply management.

Collateral Type

U.S. Treasury assets (BlackRock's BUIDL, Superstate's USTB), and potentially other crypto assets as part of its ecosystem.

Governance Entity

Frax DAO, governed by FRAX token holders.

Tokenomics

Managed by Frax DAO; includes protocol fees, FRAX tokens, and collateral assets.

Total Funding

No distinct funding round for frxUSD itself. Frax Finance raised undisclosed amounts.

Backers

Frax protocol and its DAO community, with partnerships including BlackRock and Superstate.

RAI

Year Launched:

2021

A non-pegged, algorithmic stable asset backed only by ETH, designed to maintain price stability without reliance on fiat oracles or centralized assets.

Website

Stability Mechanism

Users deposit ETH to mint RAI. Uses a PID controller to adjust a redemption rate to incentivize peg stability.

Collateral Type

Only ETH (WETH)

Governance Entity

Initially Reflexer DAO, moving towards "governance minimization."

Tokenomics

Holds protocol fees and RAI/ETH LP tokens; limited use as governance minimizes.

Total Funding

Not explicitly found, but developed by Reflexer Labs.

Backers

Reflexer Labs.

USDD

Year Launched:

May 2022

A decentralized stablecoin on the TRON blockchain, backed by a mix of TRX, BTC, and USDT reserves, utilizing both collateralized reserves and an arbitrage system.

Website

Stability Mechanism

Users can mint USDD by burning TRX. Backed by mixed reserves and an arbitrage system to maintain peg.

Collateral Type

TRX, BTC, USDT, USDC

Governance Entity

TRON DAO Reserve, governed by TRON DAO members.

Tokenomics

Managed by TRON DAO Reserve; holds diversified reserves of crypto assets.

Total Funding

Backed by the TRON DAO Reserve.

Backers

TRON DAO Reserve, Justin Sun.

USDB

Year Launched:

Not explicitly found, but Brighthub mentioned in 2023.

A dual-token hybrid algorithmic stablecoin protocol designed to build a global crypto stablecoin ecosystem.

Website

Stability Mechanism

Dual-token model with a stablecoin (USDB) and a governance/utility token. Employs algorithmic mechanisms for stability.

Collateral Type

Not explicitly detailed, but implied to be crypto collateral given "hybrid algorithmic".

Governance Entity

Governed by its native governance token holders.

Tokenomics

Holds protocol fees and potentially treasury-controlled smart contracts.

Total Funding

Not explicitly found for USDB specifically. Brighthub has general backing.

Backers

Brighthub's core team and community.

On-chain Infrastructure

Public Blockchains (L1 & L2)

Aptos

Year Launched:

2021

Aptos is an independent Layer 1 blockchain platform focused on safety and scalability driving growth within a decentralized network and developer ecosystem.

Website

Core Functionality

A high-performance, scalable Layer-1 blockchain that leverages the Move programming language and a parallel execution engine for high transaction throughput.

Consensus

Aptos utilizes a Byzantine Fault Tolerant (BFT) Proof-of-Stake (PoS) consensus model, known as AptosBFT.

Layer

Layer 1

Total Funding

$350 million

Backer

Andreessen Horowitz, Franklin Templeton, YZi Labs, Oak HC/FT, Apollo

Ethereum

Year Launched:

Concept introduced in 2013; officially launched July 30, 2015.

A decentralized, open-source blockchain platform that enables smart contracts and decentralized applications (dApps) with its native ether (ETH) currency.

Website

Core Functionality

Platform for deploying and running smart contracts and dAppsProvides the foundational infrastructure for DeFi, NFTs, DAOs, and moreHosts a global, permissionless virtual machine (EVM)

Consensus

Initially: Proof of Work (PoW)Since September 2022 ("The Merge"): transitioned to Proof of Stake (PoS)

Layer

Layer 1 (base settlement layer and smart contract platform)

Total Funding

Launched via a 2014 initial crowdsale (ICO) raising 31,000BTC($18 million at the time)

Backer

Initially driven by Ethereum Foundation and early contributors (e.g. Vitalik Buterin, Gavin Wood, etc.)Funded through the ICO and continued support by the Ethereum Foundation

Solana

Year Launched:

Founded in 2017; mainnet beta launched in March 2020.

A high-performance, permissionless blockchain designed for fast, low-cost smart contract execution and scalable decentralized applications.

Website

Core Functionality

High-speed blockchain optimized for throughput and scalability.Supports DeFi, NFTs, Web3 apps, and ultra-low-cost transactions.Consists of a single global state machine; avoids sharding

Consensus

Utilizes Proof of History (PoH) combined with Proof of Stake (PoS).PoH provides a verifiable sequencing mechanism, enabling high throughput

Layer

Layer 1 (high-performance smart contract blockchain)

Total Funding

Raised approximately $315 million through token sales and funding rounds (including S/ERC20 private sales and seed rounds)

Backer

Major backers include Multicoin Capital, Andreessen Horowitz (a16z), Foundation Capital, Lightspeed Venture Partners, and Ocean Draper (operated by Danhua Capital and Collaborative Fund)

Tron

Year Launched:

2017

A decentralized, global content entertainment ecosystem that aims to build a truly decentralized internet.

Website

Core Functionality

A high-throughput blockchain platform that supports smart contracts and dApps, with a focus on a global content sharing and entertainment ecosystem.

Consensus

The network uses a Delegated Proof of Stake (DPoS) consensus mechanism to enable quick and low-cost transactions

Layer

Layer 1

Total Funding

Raised $70 million in a 2017 Initial Coin Offering (ICO).

Backer

Tron's Initial Coin Offering (ICO) took place in 2017

Arbitrum

Year Launched:

Launched in August 2021 (mainnet “Arbitrum One”) by Offchain Labs.

A decentralized, open-source blockchain platform that enables smart contracts and decentralized applications (dApps) with its native ether (ETH) currency.

Website

Core Functionality

Enables fast and cheap Ethereum-compatible transactions by batching and processing them off-chain, with occasional proofs posted on Ethereum to ensure security.

Consensus

Optimistic Rollup: Assumes off-chain transaction batches are valid, with fraud proofs allowing Ethereum to reject incorrect batches.

Layer

Layer 2 (scaling solution built on top of Ethereum).

Total Funding

Offchain Labs has raised approximately $450 million across funding rounds.

Backer

Key backers include a16z, Lightspeed Venture Partners, Pantera Capital, Ribbit Capital, Redpoint Ventures.

BNB Chain

Year Launched:

Launched in September 2020 by Binance as a parallel chain to Binance Chain

A high-performance, EVM-compatible Layer 1 blockchain designed for fast, low-cost transactions and decentralized applications.

Website

Core Functionality

Enables smart contracts and decentralized applications (dApps).Supports BEP-20 tokens and bridges BEP-2 tokens via cross-chain relayers.Designed for efficient DeFi, NFTs, and gaming ecosystems.

Consensus

Utilizes Proof of Staked Authority (PoSA), a hybrid of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA), governed by ~21 top validators elected via BNB staking, with slashing for misbehavior

Layer

Layer 1 — an independent blockchain

Total Funding

Binance announced a $1 billion Crypto Mass Adoption Fund for ecosystem growth, including $500 million for investments, builder initiatives, liquidity incentives, and talent development

Backer

Binance — the exchange and ecosystem behind BSC.Additionally, the Massive Adoption Fund backs numerous dApps, infrastructure projects, and developer programs

Polygon

Year Launched:

Founded in 2017 as Matic Network; rebranded to Polygon in 2021.

A versatile scaling platform for Ethereum, offering a modular framework including sidechains, Layer 2 rollups, and standalone chains to improve scalability, speed, and cost-efficiency.

Website

Core Functionality

Provides scalable solutions for Ethereum: sidechains, zk-rollups, optimistic rollups, and standalone chains.Delivers fast and low-cost transactions with interoperability across chains via the Polygon SDK.

Consensus

For the Mainnet (PoS Chain): Uses Proof of Stake (PoS) with a set of validators securing the network.Other modules (e.g., zk-rollups) follow consensus appropriate to their architecture.

Layer

Primarily a Layer 2 scaling solution for Ethereum, though it includes standalone chains (L1-like) within its modular ecosystem.

Total Funding

Raised over $450 million across multiple funding rounds, including a $450M strategic round in 2021 with significant participation from SoftBank, Tiger Global, and Sequoia.

Backer

Notable backers include SoftBank Vision Fund 2, Tiger Global, Sequoia India, Polychain Capital, and Mark Cuban.

Polkadot

Year Launched:

2020

A sharded protocol that enables blockchain networks to operate together seamlessly, facilitating cross-chain interoperability.

Website

Core Functionality

Enables cross-chain interoperability and shared security for a network of diverse, specialized blockchains (parachains).

Consensus

Nominated Proof of Stake (NPoS)

Layer

Layer 1

Total Funding

Raised over $240 million

Backer

Web3 Foundation, Parity Technologies

Avalanche

Year Launched:

2020

A highly scalable, open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem.

Website

Core Functionality

Provides a platform for launching decentralized applications and custom interoperable blockchains (subnets) with high transaction throughput.

Consensus

Proof of Stake (PoS)

Layer

Layer 1

Total Funding

Raised over $300 million

Backer

Ava Labs, Andreessen Horowitz, Polychain Capital

Cardano

Year Launched:

2017

A proof-of-stake blockchain platform that aims to allow "changemakers, innovators, and visionaries" to bring about positive global change.

Website

Core Functionality

A research-driven platform with a strong focus on formal verification and peer-reviewed research, aiming for high security and scalability for smart contracts and dApps.

Consensus

Proof of Stake (PoS) - Ouroboros

Layer

Layer 1

Total Funding

Raised over $60 million

Backer

IOHK, Emurgo, Cardano Foundation

NEAR Protocol

Year Launched:

2020

A climate-neutral, high-speed, and low transaction fee Layer 1 blockchain protocol designed for scalability and usability.

Website

Core Functionality

A sharded, Proof-of-Stake blockchain designed for developer usability and scalability, enabling fast, low-cost transactions and decentralized applications.

Consensus

Proof of Stake (PoS) - Doomslug

Layer

Layer 1

Total Funding

Raised over $350 million

Backer

NEAR Foundation, Andreessen Horowitz, Pantera Capital

Cosmos

Year Launched:

2019

An ever-expanding ecosystem of interconnected apps and services, built for a decentralized future, enabling interoperability between different blockchains.

Website

Core Functionality

A framework for building interconnected blockchains (zones) that can interoperate with each other, facilitating a "blockchain of blockchains".

Consensus

Tendermint (Byzantine Fault Tolerant)

Layer

Layer 1

Total Funding

Raised over $300 million

Backer

Interchain Foundation, Tendermint Inc.

Base

Year Launched:

2023

A secure, low-cost, developer-friendly Ethereum L2 built to bring the next billion users to web3.

Website

Core Functionality

An optimistic rollup that offers a low-cost and secure environment for decentralized applications, leveraging Ethereum's security.

Consensus

Optimistic Rollup

Layer

Layer 2

Total Funding

Backed by Coinbase

Backer

Coinbase

Cross-chain Bridges & Integration Tools

Aptos Bridge

Year Launched:

2022

Official cross-chain bridge enabling seamless transfer of assets between Aptos and Ethereum, with fast finality and low fees.

Website

Supported Chains & Assets

Aptos ↔ Ethereum (supports APT, USDC, USDT, ETH, WETH, and other ERC-20 tokens)

Total Funding

Part of Aptos Labs ecosystem

Backer

Aptos Labs, Jump Crypto, a16z, FTX Ventures, Binance Labs

BNB Bridge

Year Launched:

Initial version launched earlier (pre-2022), upgraded to Binance Bridge 2.0 in 2022, which greatly expanded support for tokens and chains.

An official cross-chain bridge enabling seamless and efficient asset transfers between BNB Chain and multiple other blockchains, integrating both DeFi and CeFi ecosystems.

Website

Supported Chains & Assets

Supports transfers between BNB Chain and major ecosystems including Ethereum, Arbitrum, Polygon, Avalanche, Base, Linea, Blast, and more. Assets include BNB, BTokens (wrapped versions of bridged tokens), stablecoins like USDT/BUSD, and other supported tokens.

Total Funding

No specific funding disclosed for the bridge itself

Backer

The bridge is officially backed and operated by the Binance ecosystem.

Wormhole

Year Launched:

Launched in October 2020 (initial hackathon prototype), with broader cross-chain adoption evolving since August/September 2021.

A universal, modular cross-chain messaging and asset bridge protocol enabling seamless interoperability across over 30 blockchain networks.

Website

Supported Chains & Assets

Supports over 30 blockchains, including Solana, Ethereum, Aptos, Sui, Avalanche, Polygon, and more, facilitating transfers of ETH, USDC, NFTs, and cross-chain messages.

Total Funding

Raised $225 million in November 2023 at a $2.5 billion valuation.

Backer

Leading backers include Jump Trading, Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, and Arrington Capital.

LayerZero

Year Launched:

Initially developed in late 2021, with broader adoption starting in 2022–2023.

A universal, trust-minimized omnichain interoperability protocol designed for secure, low-latency cross-chain messaging and asset transfer across diverse blockchains.

Website

Supported Chains & Assets

Supports interoperability across numerous blockchains, including Ethereum, BNB Chain, Avalanche, Solana, Aptos, Arbitrum, Polygon, Optimism, TON, and others. Common use cases include cross-chain ERC-20 tokens, NFTs, and omnichain messaging.

Total Funding

Series A (Sep 2021): $6 million, Series A+ (Mar 2022): $135 million, Series B (Apr 2023): $120 million

Backer

Major investors include FTX Ventures, Andreessen Horowitz (a16z), Sequoia Capital, Binance Labs, Coinbase Ventures, PayPal Ventures, Tiger Global, Uniswap Labs, Samsung, and Sotheby’s.

Axelar

Year Launched:

Founded in 2020, with phased mainnet rollout beginning in late January 2022.

A decentralized interoperability network powering secure, low-latency cross-chain messaging and asset transfers across dozens of blockchains via a unified API and permissionless validator set.

Website

Supported Chains & Assets

Connects 50+ blockchains—including Ethereum, Avalanche, Cosmos, Polygon, BNB Chain, Aptos, and more—supporting tokens, NFTs, and interchain messaging.

Total Funding

Series A (~2021): $25 million led by Polychain Capital. Series B (~2022): $35 million, raising valuation to ~$1 billion.

Backer

Key backers include Polychain Capital, Dragonfly Capital, Binance X / BSC Accelerator Fund, Coinbase Ventures, DCVC, North Island Ventures, Rockaway, Node Capital, Lemniscap, Morningstar Ventures, Blockchange, and notable angel investors.

Celer Network

Year Launched:

Mainnet of cBridge v1.0 launched in July 2021, with daily peak volume soon reaching $25 million and surpassing $1 billion in total bridged assets within four months.

A non-custodial, decentralized cross-chain bridge that enables fast, secure, and low-cost transfers across 30+ blockchains with over 110 supported tokens.

Website

Supported Chains & Assets

Supports a wide range of chains including Ethereum, BSC, Polygon, Arbitrum, Optimism, Avalanche, Fantom, xDAI, among others; and assets such as USDT, USDC, BUSD, ETH, METIS, DODO, IMX, etc.

Total Funding

Specific funding for cBridge is not publicly broken out; however, Celer Network (the parent project) raised approximately $6.1 million across initial funding rounds.

Backer

Backed by early investors and partners such as Pantera Capital, Signum Capital, Spark Digital Capital, and recognized through a $100 million liquidity boost from Binance Chain.

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Risk & Circulation Layer

Foundational Layer

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