PI Global Investments
Alternative Investments

BeInCrypto Institutional Research: 15 Firms Leading On-Chain Finance Infrastructure


Alchemy — Supernode, Smart Wallets, x402

San Francisco, USA

Private

$10.2B last priced valuation

$105B+ annualized on-chain transaction value

Blockchain developer platform

Supernode, Smart Wallets, RaaS, NFT/Token APIs, stablecoin orchestration

AI Agent x402 standard launched in Mar 2026

Sooho.io Asia stablecoin infrastructure partnership announced in Nov 2025

Apex Group — Apex Digital 3.0, Tokeny

Bermuda

Private; $3T+ AUA

13,000+ professionals across 50+ jurisdictions

Tokeny has $32B+ RWAs tokenized via ERC-3643

Institutional financial OS

Fund administration, custody, tokenization, and ERC-3643 infrastructure

Apex Digital 3.0 launched in Jul 2025

SkyBridge $300M tokenization on Avalanche announced in Aug 2025

BitGo — Bank & Trust, Go Network, USD1

Sioux Falls / Palo Alto

NYSE: BTGO

Assets on platform: $63B

Assets staked: $11.8B

Federally chartered digital asset infrastructure

Go Network settlement and Mint and Burn Center

Derivatives offering launched in Q1 2026 with $3B notional volume

HYPE custody and staking added in May 2026

Blockdaemon — Builder Vault, Earn Stack

United States

Private

$110B+ digital assets secured

400+ institutions; 60+ protocols supported

Institutional Web3 gateway

Staking, validators, RPC nodes, and self-hosted MPC wallet

Taurus partnership announced in Feb 2026 for banking custody

Earn Stack staking-as-a-service launched in Jun 2025

Chainlink — CCIP, Data Feeds, CRE

Cayman Islands / Global

LINK publicly traded

CCIP processed $18B+ Q1 2026 cross-chain volume

$30T+ cumulative transaction value enabled

Oracle and cross-chain interoperability platform

CCIP, Data Streams, Proof of Reserves, CRE

SWIFT integration went live in Nov 2025

Sibos 2025 corporate-actions work involved 24 institutions

Fnality — £FnPS, EUR/USD expansion

London, UK

Private; UK FMI

$136M Series C in Sep 2025

£FnPS live since Dec 2023

Bank-led wholesale on-chain payment system

Central-bank-money-backed DLT settlement

Series C led by BofA, Citi, WisdomTree, KBC, Temasek, and Tradeweb

Broadridge intraday repo collaboration announced in Mar 2026

Hyperlane — ISMs, Warp Routes

United States

Private; HYPER publicly traded

150+ chains supported

10,000+ cross-chain messages validated daily

Permissionless cross-chain messaging framework

Interchain Security Modules and Warp Routes

TRON Network integration added in Apr 2026

V3 modular mailbox launched with Hyperlane Hooks in Sep 2025

J.P. Morgan Kinexys — JPMD, TCN, MONY

New York

Operated by JPMorgan Chase

Daily volume of $5B–$7B in Apr 2026

More than $3T cumulative volume since 2020

Bank-grade on-chain settlement unit

Deposit tokens, tokenized collateral, and fund-flow infrastructure

JPMD live on Base and moving toward Canton integration

Cross-chain DvP work with Ondo Chain and Chainlink CCIP

Magic Labs — Embedded Wallets, Newton Protocol

San Francisco, USA

Private

50M+ wallets created since 2018

200,000+ developers across 180+ countries

Email and SSO-based embedded wallet infrastructure

TEE-based API wallets with no seed phrases

Primary wallet provider for Polymarket

Newton Protocol integration added programmable compliance in Nov 2025

Mesh — SmartFunding, Crypto Payments

San Francisco, USA

Private

$1B valuation after Jan 2026 Series C

About $10B monthly payments volume

Unified crypto payments network

SmartFunding: any asset in, preferred stablecoin out

Series C led by Dragonfly Capital and Paradigm

Partners include PayPal, Revolut, Ripple, Paxos, and Rain

Partior — Unified Ledger

Singapore

Private; MAS-anchored

USD, EUR, and SGD live

Founding shareholders include DBS, JPMorgan, Standard Chartered, and Temasek

Singapore bank-consortium blockchain settlement

Atomic PvP settlement across tokenized instruments

Deutsche Bank platform agreement signed in May 2025

Nium became first PSP on the Partior network

Privy — Embedded Wallets, AgentCore

New York, USA

Stripe subsidiary

120M+ accounts

2,000+ developer teams

Embedded wallet infrastructure for fintech and treasury

Custodial and non-custodial wallets via single API

AWS Bedrock AgentCore Payments integration in May 2026

MAJORITY digital asset accounts launched on Solana with Privy

Pyth Network — Pyth Pro X, Lazer, Data Marketplace

Cayman Islands / Global

PYTH publicly traded

100+ blockchains supported

3,000+ low-latency price feeds

Institutional-grade price oracle network

Pull-oracle model, Pyth Lazer, and Pyth Pro X

Pyth Data Marketplace launched in Apr 2026

US Department of Commerce GDP data brought on-chain in Mar 2025

Turnkey — Programmable Key Management

New York, USA

Private

Powers 50M+ embedded wallets

Millions of weekly transactions

TEE-only key management in AWS Nitro Enclaves

Programmable signing and QuorumOS

Series B closed in Jun 2025 led by Bain Capital Crypto

Flutterwave integration added merchant stablecoin balances in Jan 2026

Wormhole — NTT, Guardian Network

United States

Private; $2.5B valuation

40+ chains supported

$60B+ cumulative value transferred; 1B+ cross-chain messages

Cross-chain messaging and Native Token Transfers

Guardian validator network and ZK proofs

Tokenized asset corridors support BUIDL, ACRED, VBILL, and SCOPE

NTT adopted by Sky/MakerDAO, Agora, Lido, and Ethena



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