Company Directory

21X

RWA Secondary Markets

Frankfurt-based financial market infrastructure operating under the EU DLT Pilot Regime (ESMA/BaFin) for atomic matching and real-time settlement of tokenized securities.

Agora

Stablecoin Issuance-as-a-Service

Institutional issuer of AUSD, a 1:1 USD-backed stablecoin managed by VanEck and custodied by State Street; uses an open partner revenue-sharing model rather than retail yield distribution.

AllUnity

Local-Currency Stablecoin Issuer

Frankfurt-based joint venture between DWS, Flow Traders and Galaxy Digital issuing BaFin-regulated, fully-backed EUR (EURAU) and CHF (CHFAU) stablecoins for institutional settlement.

Anchorage Digital

Wallet & Custody Infrastructure

Federally chartered digital asset bank offering institutional custody.

Issues AUDD, a fully collateralized AUD stablecoin; listed on Coinbase in 2026 as one of the first AUD-denominated stablecoins.

Backed Finance

RWA Tokenization & Issuance

Issues 1:1 collateralized wrapped versions of public equities and ETFs as onchain tokens.

BitGo

RWA Custody & Compliance Infra

Regulated institutional custodian used across both RWA and stablecoin infrastructure stacks.

Bitso

Stablecoin Neobank / Business Account

Major Latin American exchange and stablecoin payments platform, part of the well-funded LatAm/Africa stablecoin payments cohort.

Blocksquare

Real Estate Tokenization

Real estate infrastructure provider offering a modular protocol to tokenize commercial real estate into legal title-backed digital units, paired with the Oceanpoint DeFi liquidity layer.

Blox (BLOX Blockchain Sdn Bhd)

Local-Currency Stablecoin Issuer

Issues MYRC, Malaysia's first ringgit-backed stablecoin; entered public beta July 2025. Not currently an SC-licensed DAX.

Brale

Stablecoin Issuance-as-a-Service

Unified issuance platform giving enterprises instant on/off-ramps, pricing, APIs and reporting under its regulatory umbrella.

Bridge (Stripe)

Payment Orchestration / Rails

Stripe acquired Bridge for $1.1B; provides B2B stablecoin payouts API and the Bridge USD product.

BRLA Digital

Local-Currency Stablecoin Issuer

Issues BRLA, a Brazilian real stablecoin; reported ~$400M in monthly transfers in 2026.

BVNK (Mastercard)

Payment Orchestration / Rails

Mastercard acquired BVNK for $1.8B; provides enterprise SLAs, virtual accounts and embedded payment processing.

Centrifuge

RWA Tokenization & Issuance

Longest-running tokenized private credit marketplace; straddles infrastructure and product.

Chainlink

RWA Custody & Compliance Infra

Oracle network used across the RWA sector for real-time asset valuation and proof-of-reserve verification (e.g. STBT).

CitaDAO

Real Estate Tokenization

Real estate tokenization platform, smaller-scale than RealT/Lofty.

CoinsPH

Local-Currency Stablecoin Issuer

Issues PHPC, a peso-backed stablecoin connecting Filipino users to blockchain payments.

Cross-border payment infrastructure spanning 100+ countries and 15+ fiat currencies.

Copper

Wallet & Custody Infrastructure

Institutional custody and clearing infrastructure provider.

Cowrie Integrated Systems

Local-Currency Stablecoin Issuer

Cross-border payments infrastructure provider operating as a Stellar anchor, issuing the NGNT (Nigerian naira) stablecoin to power pan-African remittances.

Crossmint

Payment Orchestration / Rails

Wallet and payment infrastructure used to embed stablecoin functionality into apps.

Digishares

RWA Tokenization & Issuance

Productized tokenization platform used for real estate and fund tokenization projects.

DolarApp

Stablecoin Neobank / Business Account

Consumer stablecoin-dollar account app targeting Latin America.

Eco

Payment Orchestration / Rails

Cross-chain orchestration across CCTP, Hyperlane and LayerZero; supports USDC, USDT, USDG, PYUSD with sub-minute finality across 15 chains.

Fasset

Stablecoin Neobank / Business Account

Serves 2M+ customers across 125 countries focused on Asia/Africa/Middle East; $51M Series B (May 2026); partnered with Tether on gold-backed cards.

Figure

Real Estate Tokenization

Focuses on tokenized HELOCs and mortgage-adjacent credit products rather than direct property ownership.

Fireblocks

Wallet & Custody Infrastructure

Trusted by 1,500+ institutions; launched the Fireblocks Network for Payments (Sept 2025) spanning 100+ countries; processed a record $212B in stablecoin volume in one month (July 2025).

Fordefi

Wallet & Custody Infrastructure

Institutional MPC wallet infrastructure provider.

Hashnote (Circle)

RWA Tokenization & Issuance

Issues USYC, a tokenized money market fund; now operates under Circle's umbrella.

Homebase

Real Estate Tokenization

FinTech platform tokenizing residential real estate into fractional investment vehicles, allowing direct participation with integrated tenant rent distributions.

INX

RWA Secondary Markets

SEC-registered platform for trading tokenized securities and digital assets.

JPYC Inc.

Local-Currency Stablecoin Issuer

Japan's first fully regulated yen-pegged stablecoin, launched October 2025; over 350B yen in transaction volume by May 2026; raised a ~5B yen (~$33M) Series B.

Kaleido

RWA Tokenization & Issuance

Infrastructure/build partner for institutional tokenization projects rather than a productized platform.

Lemon Cash

Stablecoin Neobank / Business Account

Argentina-focused stablecoin wallet/neobank product.

Libre Capital

RWA Tokenization & Issuance

Institutional Web3 infrastructure platform bringing tier-1 alternative assets, private equity, and hedge funds onchain in partnership with global asset managers.

Liquid Mercury

RWA Secondary Markets

Provides matching engine, institutional EMS/OMS, DvP settlement and compliance framework for branded secondary markets; LM Labs is the venture arm.

Littio

Stablecoin Neobank / Business Account

Colombia-focused stablecoin savings and payments app.

Lofty

Real Estate Tokenization

Fractional real estate investment platform using tokenized property shares.

M^0 (M0)

Stablecoin Issuance-as-a-Service

Decentralized monetary protocol letting permissioned institutional minters generate a fungible digital dollar ($M) collateralized by short-term US Treasuries while retaining collateral yield.

Newer entrant in the issuer-infrastructure layer, part of a funding cohort alongside Agora and Brale.

Maple Finance

RWA Tokenization & Issuance

Institutional private credit lending protocol; over $21B in loans issued cumulatively per public reporting.

Monerium

Stablecoin Issuance-as-a-Service

EU-licensed e-money institution issuing regulated euro (and other currency) stablecoins.

Obligate

RWA Tokenization & Issuance

Direct institutional issuance platform for compliant corporate debt, bonds, and commercial paper, governed by Swiss DLT law with onchain dispute resolution.

Ondo Finance

RWA Tokenization & Issuance

Issues OUSG and USDY (Treasury exposure) and runs Ondo Global Markets for tokenized equities; ~60% share of tokenized equity market.

Processes ~$12B in annualized volume across stablecoins and 80+ currencies; SOC 2 Type II / ISO 27001:2022 certified; expanding to Miami mid-2026.

Paxos

Stablecoin Issuance-as-a-Service

Oldest turnkey issuer (since 2018); issues PYUSD for PayPal; processed $180B+ in cumulative activity; handles reserve custody and mint/redeem tech across chains.

Paytrie

Local-Currency Stablecoin Issuer

Issues CADC, a Canadian-dollar stablecoin used in Canadian fintech applications.

Consumer neobank layer launched mid-2026 on top of the Plasma stablecoin-focused blockchain.

Plume Network

RWA Tokenization & Issuance

Layer-2 purpose-built for RWA issuance with native compliance primitives.

Polymath / Polymesh

RWA Tokenization & Issuance

Pioneered the ST-20 security token standard; Polymesh is a purpose-built chain with identity and compliance at the protocol level.

Quantoz

Local-Currency Stablecoin Issuer

Regulated Electronic Money Institution licensed by the Dutch Central Bank (DNB) issuing EURD, EURQ, and USDQ programmable digital currency tokens.

Rain

Stablecoin Neobank / Business Account

Stablecoin-to-card spending infrastructure; $338M total raised including a $250M Series C (Jan 2026) at a $1.95B valuation; powers 200+ partners including Western Union.

RealT

Real Estate Tokenization

One of the most active platforms tokenizing US rental property into fractional onchain shares.

Restart Fintech

RWA Tokenization & Issuance

Works as a custom-built infrastructure partner rather than a licensed off-the-shelf product.

IDRT is a long-standing rupiah stablecoin; XIDR is StraitsX's Indonesia-market rupiah token. IDRX is a separate, competing issuer worth tracking alongside these.

Schuman Financial

Local-Currency Stablecoin Issuer

European fintech issuing EUR0P, a MiCA-compliant euro stablecoin backed 1:1 by cash reserves in regulated European banks with continuous KPMG attestation.

Securitize

RWA Tokenization & Issuance

SEC-registered transfer agent and broker-dealer; issued BlackRock's BUIDL fund and manages several Apollo/Hamilton Lane products.

Stablecoin payment orchestration provider named in B2B infrastructure comparisons.

Spiko

RWA Tokenization & Issuance

French AMF-regulated issuer providing onchain sovereign debt exposure via tokenized Treasury and money market funds (USTBL, EUTBL), custodied with Crédit Agricole and BNP Paribas.

Squads (Altitude)

Stablecoin Neobank / Business Account

Squads Protocol secures $10B+ in Solana assets as the network's multisig standard; Altitude is its stablecoin-native business account, live since Dec 2025, $200M+ payments processed, $18M raise in April 2026 ($42.9M total).

StraitsX

Local-Currency Stablecoin Issuer

Issues XSGD, the leading non-USD stablecoin in Southeast Asia (~70%+ regional market share) plus XUSD; processed $18B+ combined onchain volume through 2025.

Tokeny

RWA Tokenization & Issuance

Compliance-first tokenization infrastructure provider; infra partner rather than a consumer platform.

Turnkey

Wallet & Custody Infrastructure

Embedded wallet infrastructure used by stablecoin neobanks for non-custodial account creation and policy-based signing.

tZERO

RWA Secondary Markets

Alternative trading system for tokenized securities, one of the earliest regulated venues in the category.

Yellow Card

Stablecoin Neobank / Business Account

Pan-African stablecoin payments and on/off-ramp network.

Zero Hash

Wallet & Custody Infrastructure

Holds money transmitter licenses across 50+ US jurisdictions; white-labels stablecoin infrastructure for 80+ fintech/neobank partners.