The global fintech revolution continues to accelerate, with blockchain technology at the forefront of innovation. In recent years, CBInsights released its prestigious Fintech250 list—highlighting the most promising private fintech startups worldwide. Among them, 12 blockchain-focused companies stand out for their strategic positioning, technological breakthroughs, and transformative impact on financial infrastructure.
These firms are not just experimenting with decentralized ledgers; they're redefining how institutions handle payments, data security, digital assets, and cross-border transactions. From secure wallet solutions to enterprise-grade distributed systems, these innovators are bridging the gap between traditional finance and the decentralized future.
Let’s explore how each of these 12 blockchain leaders is shaping the next era of financial services.
Enterprise Blockchain Infrastructure: Powering Financial Institutions
Axoni – Building Blockchain Systems for Wall Street
Founded in 2013 by brothers Jeff and Greg Schvey in New York, Axoni specializes in blockchain solutions tailored for major financial institutions. In 2017, it secured nearly $20 million in funding led by Wells Fargo, with participation from Citigroup, JPMorgan Chase, Goldman Sachs, and Digital Currency Group.
Axoni’s core mission is to modernize capital markets through distributed ledger technology (DLT). In October 2016, nine leading banks—including Barclays, Credit Suisse, and Thomson Reuters—successfully tested Axoni’s blockchain prototype for equity trading reconciliation. This demonstrated how real-time settlement and transparent record-keeping could reduce operational friction in post-trade processing.
👉 Discover how enterprise blockchain is transforming institutional finance
Chain – Enabling Financial Giants to Go Decentralized
Originally launched as a photo-sharing app called Albumatic, Chain pivoted into blockchain infrastructure and has since raised $43.7 million from top-tier investors like Khosla Ventures, Visa, Nasdaq, Citi, and Capital One.
As a technology provider, Chain empowers financial institutions to build custom blockchain networks. One of its most notable collaborations was with Visa to launch a blockchain-based B2B payment platform in 2017—an initiative that posed a potential challenge to SWIFT's dominance in international wire transfers.
With Tom Jessop, a former Goldman Sachs executive, appointed as president, Chain has solidified its role as a bridge between legacy banking systems and next-generation financial infrastructure.
Digital Asset Platforms & Exchanges
Coinbase – The Gateway to Cryptocurrencies
Launched in 2012, Coinbase has grown into one of the world’s largest cryptocurrency exchanges, backed by over $110 million in funding from DFJ, NYSE, USAA, and BBVA. It enables users to buy, sell, store, and manage digital currencies like Bitcoin and Ethereum through an intuitive platform.
Beyond trading, Coinbase allows consumers and merchants to transact using crypto assets securely. Starting in 2016, the company began shifting from a Bitcoin-only focus toward becoming a broader digital asset platform—expanding support for emerging tokens such as Ethereum.
This strategic pivot reflects growing demand for multi-chain ecosystems and underscores the limitations of relying solely on Bitcoin’s network amid rising scalability concerns.
bitFlyer – Japan’s Leading Bitcoin Exchange
Founded in Tokyo in 2014 by Yuzo Kano, a former Goldman Sachs employee, bitFlyer emerged after the collapse of MtGox to fill the void in Japan’s crypto market. With $36.1 million raised from investors including Sumitomo Mitsui, Mizuho Financial Group, and Digital Currency Group, it quickly became one of Japan’s most active Bitcoin trading platforms.
In addition to offering professional-grade trading tools, bitFlyer operates as a crowdfunding platform for blockchain projects and provides a suite of developer-focused technologies—positioning itself as a full-service crypto ecosystem within a highly regulated environment.
Decentralized Internet & Privacy Innovations
Blockstack Labs – Reclaiming User Data Control
Established in 2013 by Ryan Shea and Muneeb Ali, Blockstack Labs is pioneering a decentralized internet where users own their data. Backed by Naval Ravikant (AngelList), Digital Currency Group, and Union Square Ventures, the team has developed a blockchain-powered web browser that runs decentralized apps (dApps) locally on user devices.
Unlike traditional cloud models vulnerable to centralized breaches, Blockstack’s architecture enhances privacy and reduces reliance on big tech platforms—offering a vision of a more secure and user-controlled internet.
Brave Software – Privacy-First Browsing with Crypto Rewards
Founded in 2015 by Brendan Eich (creator of JavaScript), Brave Software raised $42 million from Founders Fund and other prominent backers. Its flagship product is an open-source browser designed to block ads and trackers by default while offering a novel monetization model: a built-in Bitcoin-based micropayment system.
Users can opt-in to view privacy-respecting ads and earn Basic Attention Tokens (BAT), which can be used to support content creators automatically. This innovative approach aligns user incentives with publisher revenue—without compromising personal data.
👉 See how decentralized browsers are changing online privacy
Infrastructure & Protocol Development
Blockstream – Expanding Bitcoin’s Capabilities
Based in Montreal, Blockstream boasts a world-class team including Bitcoin Core developers Gregory Maxwell and Jonathan Wilkins. As the first company focused on extending Bitcoin’s protocol layer, Blockstream introduced the concept of sidechains—most notably Liquid Network—a federated sidechain enabling faster inter-exchange settlements.
By allowing assets to move across blockchains securely, Blockstream enhances Bitcoin’s utility beyond simple peer-to-peer payments—enabling advanced use cases like confidential transactions and multi-asset issuance.
Factom – Securing Data Across Industries
Founded in 2015 in Austin, Texas, Factom leverages Bitcoin’s blockchain to improve data management for governments and enterprises. With funding from Tim Draper and Medici Ventures, it offers solutions for audit trails, medical records, supply chains, voting systems, property deeds, and legal documentation.
Although Factom faced criticism over its token (Factoids) and stalled partnerships (e.g., with Honduras), its underlying technology remains relevant for organizations seeking immutable record-keeping systems resistant to tampering.
Cross-Border Payments & Financial Inclusion
Ripple Labs – Rethinking Global Remittances
Since its founding in January 2012, Ripple Labs has developed an open-source platform enabling real-time cross-border payments for banks and remittance providers. Its solution reduces foreign exchange exposure by leveraging distributed liquidity networks—minimizing volatility and counterparty risk.
Ripple’s XRP token facilitates fast settlement between currencies, making international transfers faster and cheaper than traditional correspondent banking models. With nearly $100 million raised, Ripple continues to expand its network of financial institution partners globally.
Xapo – Secure Bitcoin Storage Meets User Choice
Founded in 2012 in Palo Alto by Wences Casares—an early Bitcoin advocate—Xapo raised $40 million from Index Ventures, Fortress Investment Group, Ribbit Capital, and Yahoo co-founder Jerry Yang.
Best known for its secure cold storage vaults located deep underground, Xapo provides both individual and institutional clients with robust Bitcoin custody solutions. In May 2017, it shifted policy to pass on blockchain transaction fees to users—a response to rising network congestion—allowing customers to choose between standard or priority fees based on desired confirmation speed.
Notably praised by The New York Times journalist Nathaniel Popper as a high-potential venture, Xapo exemplifies trust and security in digital asset management.
Investment & Asset Management
Digital Asset Holdings (DAH) – Bridging Traditional Finance with Blockchain
Co-founded by Sunil Hirani (trueEX) and Don Wilson (DRW Trading), DAH is headquartered in New York and backed by Goldman Sachs, JPMorgan Chase, IBM, Accenture, and ABN Amro—with total funding reaching $67.2 million. Led by Blythe Masters, former JPMorgan commodities chief dubbed the “Queen of Wall Street,” DAH aims to streamline the conversion between fiat and digital currencies.
By reducing time and cost barriers in asset exchange processes, DAH envisions a future where financial markets operate on real-time settlement rails powered by DLT.
Polychain Capital – A Hedge Fund for the Token Economy
Launched in 2016 in San Francisco, Polychain Capital raised $12.58 million from Andreessen Horowitz (a16z), Boost VC, and Union Square Ventures. As one of the first hedge funds dedicated exclusively to blockchain assets, Polychain manages diversified portfolios of cryptocurrencies and tokens.
CEO Olaf Carlson-Wee believes alternative blockchains—especially Ethereum—offer richer developer ecosystems than Bitcoin. He predicted that Ethereum-related tokens would surpass Bitcoin in market value by late 2018—a forecast driven by rapid innovation in smart contracts and decentralized applications.
Frequently Asked Questions
Q: What is the Fintech250 list?
A: The Fintech250 is an annual ranking by CBInsights that identifies the most promising private fintech startups globally based on innovation, market potential, investor profile, and business momentum.
Q: Why are blockchain companies important in fintech?
A: Blockchain enables faster settlements, enhanced security, reduced fraud, lower transaction costs, and greater transparency—making it ideal for transforming banking, payments, identity verification, and asset management.
Q: Are all these companies still active today?
A: While some have evolved or rebranded (e.g., Chain was acquired by Circle in 2021), their foundational work significantly influenced modern crypto infrastructure. Many continue to shape enterprise blockchain adoption.
Q: How do these firms differ from traditional fintech startups?
A: Unlike app-based fintechs focused on consumer lending or mobile payments, these companies build underlying protocols and infrastructure—often serving institutions rather than end-users directly.
Q: Can individuals invest in these blockchain firms?
A: Most were privately held at the time of inclusion. However, some launched public tokens (e.g., XRP, BAT), while others may have gone public or been acquired—offering indirect investment opportunities.
Q: Which sectors benefit most from their technologies?
A: Banking, cross-border payments, capital markets, data integrity (healthcare/legal), supply chain tracking, digital identity, and decentralized finance (DeFi) are key areas seeing real-world impact.