The world of financial technology is evolving at breakneck speed, and blockchain continues to be one of its most transformative forces. In recent years, the CBInsights Fintech250 list has emerged as a benchmark for identifying the most innovative and impactful fintech companies globally. Among the 250 elite firms, a select group of 12 blockchain-focused startups stands out—not just for their technological ingenuity, but for their strategic positioning at the intersection of finance and decentralization.
These companies are redefining how institutions handle transactions, manage data, and secure digital assets. From infrastructure providers enabling enterprise-grade blockchain solutions to platforms empowering users with greater control over their online identities and payments, this cohort illustrates the diverse applications of distributed ledger technology in modern finance.
Below, we explore each of these 12 trailblazers, analyzing their core innovations, business models, and long-term visions—all while uncovering the broader trends shaping the future of decentralized finance.
The Rise of Enterprise Blockchain Infrastructure
At the heart of the blockchain revolution lies a new generation of companies building the foundational tools that financial institutions need to adopt decentralized systems securely and efficiently.
Axoni: Powering Wall Street with Blockchain
Founded in 2013 by brothers Jeff and Greg Schvey in New York, Axoni has positioned itself as a leader in blockchain infrastructure for capital markets. With backing from major players like Wells Fargo, Citigroup, Goldman Sachs, JPMorgan Chase, and Digital Currency Group—totaling nearly $20 million in funding—Axoni focuses on delivering scalable, permissioned blockchain networks tailored for institutional use.
In October 2016, nine major financial institutions successfully tested Axoni’s blockchain prototype, including Barclays, Credit Suisse, and Thomson Reuters. This demonstrated the potential for real-time settlement, improved transparency, and reduced counterparty risk in complex financial instruments such as equity swaps.
👉 Discover how institutional blockchain adoption is accelerating in 2025
Chain: Building Blockchain Solutions for Global Finance
Originally spun out of a photo-sharing app called Albumatic, Chain has evolved into a critical enabler of blockchain integration within traditional finance. Backed by heavyweights like Visa, Nasdaq, Citi, and Khosla Ventures—with over $43.7 million raised—Chain provides APIs and development tools that allow banks and fintechs to build secure, compliant blockchain applications.
One of its most notable collaborations was with Visa to launch a blockchain-based B2B payment service in 2017, designed to challenge SWIFT's dominance in cross-border transactions. By streamlining settlement times and reducing operational friction, Chain is helping reshape the backbone of global financial infrastructure.
Digital Asset Holdings (DAH): Bridging Traditional and Digital Currencies
Headquartered in New York and led by former JPMorgan executive Blythe Masters—often dubbed the “Queen of Wall Street”—Digital Asset Holdings (DAH) aims to simplify the conversion between fiat and digital currencies. With $67.2 million in funding from Goldman Sachs, JPMorgan, IBM, Accenture, and others, DAH develops smart contract platforms that automate compliance, clearing, and settlement processes.
Its vision is to create a seamless financial ecosystem where assets—whether stocks, bonds, or cryptocurrencies—can be issued, traded, and settled instantly on a unified ledger system. This could dramatically reduce costs and latency across capital markets.
Decentralized Applications and User Empowerment
While some firms focus on enterprise solutions, others are placing users at the center of the blockchain revolution—giving individuals more control over their data, identity, and online experiences.
Blockstack Labs: Reclaiming Data Ownership
Founded in 2013 by Ryan Shea and Muneeb Ali, Blockstack Labs is pioneering a decentralized internet where users own their data. Its flagship product is a blockchain-based web browser that enables users to run decentralized apps (dApps) directly on their devices without relying on centralized servers.
By eliminating single points of failure, Blockstack enhances privacy and security while resisting censorship. Developers can build on its platform using Gaia storage and Blockstack Auth, creating an ecosystem where trust is embedded in code rather than intermediaries.
Brave Software: A Faster, Safer Web Experience
Launched in 2015 by Brendan Eich—the creator of JavaScript—Brave Software offers a privacy-first browser that blocks ads and trackers by default. With $42 million in funding from Founders Fund and Digital Currency Group, Brave goes beyond protection: it integrates a built-in micropayment system powered by Basic Attention Token (BAT), a cryptocurrency based on Ethereum.
Users earn BAT by opting into privacy-respecting ads and can tip content creators directly. This model flips the traditional advertising economy on its head, rewarding attention fairly while cutting out middlemen.
👉 See how decentralized browsers are changing digital privacy norms
Cryptocurrency Platforms Driving Mass Adoption
Several companies on the Fintech250 list are focused on making cryptocurrency accessible to everyday users and businesses alike—bridging the gap between complex technology and practical usability.
Coinbase: From Bitcoin Gateway to Crypto Super App
Established in 2012 and backed by NYSE, USAA, Deutsche Bank AG (via its venture arm), and others with over $110 million in funding, Coinbase started as one of the first easy-to-use platforms for buying and storing Bitcoin. Today, it has evolved into a full-stack crypto platform offering wallets, exchange services, staking, NFT marketplaces, and developer tools.
Recognizing early that reliance on Bitcoin alone was limiting, Coinbase expanded support to Ethereum and hundreds of other digital assets. Its user-friendly interface has played a crucial role in bringing millions of retail investors into the crypto space.
Xapo: Secure Bitcoin Storage Meets Financial Flexibility
Based in Palo Alto, California, Xapo was founded in 2012 by Wences Casares—an early Bitcoin advocate—and has raised $40 million from Index Ventures, Fortress Investment Group, and Yahoo co-founder Jerry Yang. Known for its ultra-secure cold storage vaults located deep underground, Xapo offers both custodial solutions for institutions and personal wallets for individuals.
In 2017, Xapo made headlines by shifting responsibility for on-chain transaction fees to users—a move reflecting growing network congestion. By allowing users to choose between standard or priority fees, Xapo empowers them to control transaction speed and cost.
Investment and Financial Innovation in Blockchain
As the ecosystem matures, specialized investment vehicles are emerging to capitalize on the growth of digital assets.
Polychain Capital: The Hedge Fund of the Crypto Era
Founded in 2016 in San Francisco and backed by Andreessen Horowitz and Union Square Ventures with $12.58 million in funding, Polychain Capital operates as a hedge fund focused exclusively on blockchain assets. It invests in cryptocurrencies like Ethereum and tokens built on decentralized protocols.
CEO Olaf Carlson-Wee predicted in 2017 that Ethereum’s ecosystem would surpass Bitcoin in value—a forecast that gained traction as DeFi and NFTs surged. Polychain's strategy reflects a belief that programmable blockchains represent the next evolution of finance.
Expanding Blockchain Beyond Currency
Some innovators are applying blockchain to solve real-world problems far beyond payments—such as data integrity, supply chain tracking, and governance.
Factom: Securing Data Across Industries
Launched in 2015 in Austin, Texas, Factom uses Bitcoin’s blockchain to create immutable records for governments and enterprises. With support from Tim Draper and Medici Ventures, Factom has worked with organizations like the Bill & Melinda Gates Foundation and U.S. Department of Homeland Security.
Its technology secures data in sectors including healthcare records, land titles, voting systems, audit trails, and legal documentation. Despite criticism around token centralization and stalled government partnerships (e.g., Honduras), Factom remains a pioneer in enterprise-grade data anchoring.
Ripple Labs: Redefining Cross-Border Payments
Founded in January 2012, Ripple Labs offers an open-source platform enabling banks and money transfer services to conduct fast, low-cost international payments using its native cryptocurrency XRP. Unlike Bitcoin’s proof-of-work model, Ripple uses a consensus algorithm optimized for speed and scalability.
Ripple’s solutions help financial institutions reduce foreign exchange exposure by enabling real-time liquidity across currencies. While regulatory scrutiny over XRP’s classification continues, Ripple’s network—used by institutions worldwide—demonstrates blockchain’s potential to modernize legacy payment rails.
Regional Innovators: Japan's Blockchain Frontier
Japan has emerged as a leader in regulated cryptocurrency innovation—thanks in part to visionary startups like bitFlyer.
bitFlyer: Japan’s Leading Bitcoin Platform
Founded in 2014 by former Goldman Sachs employee Yuzo Kano in Tokyo, bitFlyer stepped in after the collapse of MtGox—one of the earliest Bitcoin exchanges—to fill a critical void in Japan’s crypto market. With $36.11 million raised from Digital Currency Group, Mizuho Financial Group, and others, bitFlyer quickly became one of Japan’s most active Bitcoin trading platforms.
Beyond trading, bitFlyer offers institutional-grade custody solutions, merchant tools, and even crowdfunding services tied to blockchain projects—solidifying its role as a cornerstone of Japan’s digital asset economy.
Blockstream: Advancing Bitcoin Through Sidechains
Based in Montreal, Canada, Blockstream was co-founded by prominent Bitcoin Core developers like Gregory Maxwell. As the first company focused on extending Bitcoin’s protocol layer, Blockstream introduced Liquid—a sidechain technology that enables faster settlements between exchanges and institutions.
Liquid allows Bitcoin-backed assets to move off-chain while maintaining security through periodic anchoring to the main Bitcoin blockchain. This innovation addresses scalability issues without compromising decentralization—making it essential for high-frequency trading environments.
Frequently Asked Questions (FAQ)
Q: What is the significance of being listed on the CBInsights Fintech250?
A: Inclusion in the Fintech250 signals recognition as one of the most promising private fintech companies globally. It reflects strong innovation potential, investor confidence, and market impact—especially valuable for startups seeking partnerships or further funding.
Q: Are all blockchain companies focused on cryptocurrency?
A: No. While many began with crypto-related services (like exchanges or wallets), several now focus on broader applications such as identity management (Blockstack), secure data logging (Factom), or financial infrastructure (Chain). The underlying blockchain technology is versatile across industries.
Q: How do these companies generate revenue?
A: Revenue models vary widely—from transaction fees (Coinbase), subscription services (Brave Pro), investment returns (Polychain), software licensing (Axoni), to B2B platform fees (Ripple).
Q: Is blockchain adoption limited to startups?
A: Not at all. Many large banks and financial institutions collaborate with these startups via pilots or direct investments (e.g., Goldman Sachs investing in Axoni). Blockchain is increasingly seen as essential infrastructure for future financial systems.
Q: Can individuals invest in these private companies?
A: Most are still privately held and accessible only to accredited investors or venture funds. However, some offer token-based participation (e.g., BAT on Brave), or their investors’ portfolios may be accessible via public markets indirectly.
Q: What are the biggest challenges facing blockchain adoption today?
A: Regulatory uncertainty remains a top hurdle. Other challenges include scalability limitations, interoperability between chains, energy consumption concerns (for certain consensus models), and user education.
👉 Learn how leading platforms are overcoming adoption barriers in 2025
Blockchain is no longer just an experiment—it's becoming integral to how financial services operate. These 12 companies exemplify how innovation thrives at the intersection of technology and trust. Whether through infrastructure upgrades or consumer empowerment, they are laying the foundation for a more transparent, efficient, and inclusive financial future.