BeInCrypto Institutional Research: 15 Firms Leading On-Chain Finance Infrastructure
Best On-Chain Finance Infrastructure is a class throughout the BeInCrypto Institutional 100, an annual research-driven program recognising institutional digital asset excellence throughout 26 classes and 6 pillars.
This class sits below Pillar 4: Tokenization & On-Chain Finance. The 15 corporations under are listed alphabetically and should not ranked. A shortlist can be named in May 2026, with the winner introduced at Proof of Talk in Paris on June 2–3, 2026.
(*15*)Key Facts
- Long checklist: 15 corporations throughout embedded wallets, bank-grade settlement, oracle middleware, interoperability protocols, developer platforms, programmable key administration, funds APIs, staking infrastructure, and monetary OS platforms
- Initial pool: More than 25 corporations screened; 15 superior to the lengthy checklist
- Order: Listed alphabetically, not ranked
- Scoring: 50% quantitative knowledge · 50% Expert Council
- Criteria assessed: Institutional shopper roster, regulatory licensure, on-chain scale, safety document, capital backing, regulated partnerships, governance maturity, innovation sign
- Boundary scope: Custody, stablecoin issuance, tokenization platforms, and pure DeFi protocols are evaluated in separate classes
| Firm / Flagship Product | HQ & Listing | Reach | Infrastructure Layer | Representative Work |
|---|---|---|---|---|
| Alchemy — Supernode, Smart Wallets, x402 | San Francisco, USA
Private |
$10.2B final priced valuation
$105B+ annualized on-chain transaction worth |
Blockchain developer platform
Supernode, Smart Wallets, RaaS, NFT/Token APIs, stablecoin orchestration |
AI Agent x402 normal launched in Mar 2026
Sooho.io Asia stablecoin infrastructure partnership introduced in Nov 2025 |
| Apex Group — Apex Digital 3.0, Tokeny | Bermuda
Private; $3T+ AUA |
13,000+ professionals throughout 50+ jurisdictions
Tokeny has $32B+ RWAs tokenized by way of ERC-3643 |
Institutional monetary OS
Fund administration, custody, tokenization, and ERC-3643 infrastructure |
Apex Digital 3.0 launched in Jul 2025
SkyBridge $300M tokenization on Avalanche introduced 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 providing launched in Q1 2026 with $3B notional quantity
HYPE custody and staking added in May 2026 |
| Blockdaemon — Builder Vault, Earn Stack | United States
Private |
$110B+ digital property secured
400+ establishments; 60+ protocols supported |
Institutional Web3 gateway
Staking, validators, RPC nodes, and self-hosted MPC pockets |
Taurus partnership introduced 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 quantity
$30T+ cumulative transaction worth enabled |
Oracle and cross-chain interoperability platform
CCIP, Data Streams, Proof of Reserves, CRE |
SWIFT integration went dwell in Nov 2025
Sibos 2025 corporate-actions work concerned 24 establishments |
| Fnality — £FnPS, EUR/USD enlargement | London, UK
Private; UK FMI |
$136M Series C in Sep 2025
£FnPS dwell since Dec 2023 |
Bank-led wholesale on-chain fee system
Central-bank-money-backed DLT settlement |
Series C led by BofA, Citi, WisdomTree, KBC, Temasek, and Tradeweb
Broadridge intraday repo collaboration introduced in Mar 2026 |
| Hyperlane — ISMs, Warp Routes | United States
Private; HYPER publicly traded |
150+ chains supported
10,000+ cross-chain messages validated each day |
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 quantity of $5B–$7B in Apr 2026
More than $3T cumulative quantity since 2020 |
Bank-grade on-chain settlement unit
Deposit tokens, tokenized collateral, and fund-flow infrastructure |
JPMD dwell on Base and shifting towards 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+ builders throughout 180+ nations |
Email and SSO-based embedded pockets infrastructure
TEE-based API wallets with no seed phrases |
Primary pockets supplier 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 month-to-month funds quantity |
Unified crypto funds community
SmartFunding: any asset in, most well-liked stablecoin out |
Series C led by Dragonfly Capital and Paradigm
Partners embrace PayPal, Revolut, Ripple, Paxos, and Rain |
| Partior — Unified Ledger | Singapore
Private; MAS-anchored |
USD, EUR, and SGD dwell
Founding shareholders embrace DBS, JPMorgan, Standard Chartered, and Temasek |
Singapore bank-consortium blockchain settlement
Atomic PvP settlement throughout tokenized devices |
Deutsche Bank platform settlement signed in May 2025
Nium turned first PSP on the Partior community |
| Privy — Embedded Wallets, AgentCore | New York, USA
Stripe subsidiary |
120M+ accounts
2,000+ developer groups |
Embedded pockets infrastructure for fintech and treasury
Custodial and non-custodial wallets by way of 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 value feeds |
Institutional-grade value oracle community
Pull-oracle mannequin, Pyth Lazer, and Pyth Pro X |
Pyth Data Marketplace launched in Apr 2026
US Department of Commerce GDP knowledge introduced on-chain in Mar 2025 |
| Turnkey — Programmable Key Management | New York, USA
Private |
Powers 50M+ embedded wallets
Millions of weekly transactions |
TEE-only key administration in AWS Nitro Enclaves
Programmable signing and QuorumOS |
Series B closed in Jun 2025 led by Bain Capital Crypto
Flutterwave integration added service provider stablecoin balances in Jan 2026 |
| Wormhole — NTT, Guardian Network | United States
Private; $2.5B valuation |
40+ chains supported
$60B+ cumulative worth transferred; 1B+ cross-chain messages |
Cross-chain messaging and Native Token Transfers
Guardian validator community and ZK proofs |
Tokenized asset corridors assist BUIDL, ACRED, VBILL, and SCOPE
NTT adopted by Sky/MakerDAO, Agora, Lido, and Ethena |
About This List
The BeInCrypto Institutional 100 — On-Chain Finance Infrastructure (2026 Long List) identifies the infrastructure layer that lets regulated finance function on public and permissioned blockchains.
The class covers embedded pockets infrastructure, bank-grade on-chain settlement networks, oracle and knowledge middleware, interoperability protocols, developer tooling, programmable key administration, embedded crypto fee APIs, staking infrastructure, and built-in monetary working programs.
Custody is roofed individually below Category 2.4: Best Custody Provider. Stablecoin issuance and orchestration, tokenization platforms, and pure DeFi protocols are additionally evaluated in their very own classes. BitGo seems right here as a partner-override entry due to its federal belief financial institution constitution, Go Network settlement, USD1 stablecoin issuance, and broader built-in infrastructure position.
Methodology
This class is evaluated below Track A of the BeInCrypto Institutional 100 methodology: 50% quantitative metrics and 50% Expert Council scoring.
Assessment spans seven standards: institutional shopper roster, regulatory licensure and certifications, on-chain scale and attain, safety document and audit historical past, capital backing and runway, partnership depth with regulated entities, and innovation sign.
Data was verified utilizing SEC EDGAR, FCA, BaFin, FINMA, MAS, Bermuda Monetary Authority, OCC, NYDFS, SOC 2 and ISO 27001 attestations, audited experiences, Messari interoperability experiences, DefiLlama, on-chain analytics, partnership bulletins, and private-market sources together with PitchBook, Tracxn, and Crunchbase.
Every agency on the checklist underwent a May 2026 verification move to substantiate lively product standing, present funding, and the absence of unresolved materials authorized or safety overhangs.
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