Which crypto companies are on Forbes’ 2025 top 50 fintechs?

Original author: Nina Bambysheva

ต้นฉบับแปล: ลูฟี่, Foresight News

In 2024, การเข้ารหัสลับcurrencies finally entered the mainstream. More than a dozen Bitcoin spot exchange-traded funds (ETFs) were approved, institutional capital poured in, and the market, which was once dominated by retail investors, gained wider recognition on Wall Street. Then, Donald Trump won the election, and crypto asset prices soared further, with people expecting Trumps administration to usher in a golden age for cryptocurrencies. By December, the price of Bitcoin broke the $100,000 mark.

Trump’s pro-crypto stance was clear early on, as evidenced by key appointments and decrees: venture capitalist David Sacks was named AI and cryptocurrency czar, Scott Bessent took over the Treasury Department, and former SEC commissioner Paul Atkins was nominated to lead the regulator. Trump also signed an executive order titled “Strengthening America’s Leadership in Digital Financial Technologies,” which included a requirement to assess the “National Digital Asset Reserve.” In this environment, companies like Figure, Securitize, and Fireblocks have thrived, riding some of the industry’s most prominent trends.

Take tokenized real-world assets (RWA) as an example. This concept has evolved from a buzzword to a multi-billion dollar industry. A typical example is Figure, co-founded by former SoFi CEO Mike Cagney, which applies blockchain technology to the traditional lending field and has tokenized more than $13 billion in home equity lines of credit. At the same time, Securitize has partnered with BlackRock to launch BUIDL, a tokenized U.S. Treasury product that has attracted $640 million in investment.

Then there’s Fireblocks, a leader in crypto infrastructure that has secured more than $6 trillion in digital asset transactions and recently launched a state-regulated custody platform and AI-driven trade optimization tools designed to meet the growing needs of institutional clients.

Here are three crypto companies that made the list of the top 50 Fintech companies for 2025:

Figure

Headquarters: New York City, New York

Figure, co-founded by former SoFi CEO Mike Cagney, uses technology to speed up the application process for home equity lines of credit. It also has a custom blockchain platform that tokenizes (i.e., securitizes) home equity lines of credit and sells them to yield-hungry investors through its own private credit ตลาด. In 2024, Figures revenue grew more than 50% from $196 million in 2023 to $321 million, with a gross margin of 55%. Of its 150,000 customers, about 70% come from more than 200 fintech and mortgage banking partners, including real estate platforms such as RATE (formerly Guaranteed Rate) and Credit Karma. In April 2024, former Brex executive Michael Tannenbaum became CEO and Cagney became executive chairman.

Funding: $500 million from Apoll, Morgan Creek, Ribbit, and others

Latest valuation: $3.2 billion

Last valuation date: May 2021

Highlight: Its software has been used to originate more than $13 billion in home equity lines of credit

Co-founders: Mike Cagney, 53, executive chairman; June Ou, 59, former president and now adviser

CEO: Michael Tannenbaum, who previously served as chief revenue officer at SoFi and COO at Brex, joined Figure in 2024

Fireblocks

Headquarters: New York City, New York

Fireblocks software helps investors and institutions such as Worldpay, Revolut, BNP Paribas and Bank of New York Mellon hold cryptocurrencies safely. Despite revenue of $1.24 million in 2024, the company has not yet achieved profitability and is currently investing heavily in new projects to support crypto asset activities of various entities from banks to startups. Important products launched in the past year include a New York State-regulated limited purpose trust company designed to provide customers with bank-level custody services and an artificial intelligence tool to help customers respond to market changes more flexibly in their trading activities.

Funding: $1 billion from Spark Capital, Cyberstarts, Coatue, and others

Latest valuation: $8 billion

Last valuation date: January 2022

Highlights: Since its inception, its infrastructure has supported more than $6 trillion in transactions

Co-founders: CEO Michael Shaulov, 42, who previously founded cybersecurity startup Lacoon Mobile Security; CTO Pavel Berengoltz, 48; CPO Idan Ofrat, 43

Securitize

Headquarters: Miami, Florida

Securitize transfers real-world assets such as treasuries or private equity to the blockchain, allowing investors to easily buy and sell them. Securitizes flagship product is BUIDL, a tokenized treasury product launched in partnership with BlackRock in March 2024. BUIDL currently holds $640 million in assets.

Funding: $170 million from BlackRock, Blockchain Capital, Morgan Stanley, and others

Latest valuation: $479 million

Last valuation date: July 2022

ไฮไลท์: โทเค็นized assets totaling more than $1 billion with partners including BlackRock, Hamilton Lane, and KKR

Co-founders: CEO Carlos Domingo, 54; President Jamie Finn, 47

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