What are the crypto companies in the Forbes 2025 FinTech 50?

Original title:The Future Of Crypto And Blockchain: Fintech 50 2025

Author: Nina Bambysheva

Compiled by: Luffy, Foresight News

In 2024, cryptocurrencies finally entered the mainstream. More than a dozen Bitcoin spot trading open-end index funds (ETFs) have been approved, and a large influx of institutional capital has been in full swing. The market, originally dominated by retail investors, has gained wider recognition on Wall Street. Afterwards, Donald Trump won the election and crypto asset prices soared further, and people expected the Trump administration to open a golden age of cryptocurrencies. By December, the price of Bitcoin exceeded the $100,000 mark.

Trump's early pro-cryptocurrency stance is clear, and his key appointments and decrees are exemplified: venture capitalist David Sacks was appointed Tsar on Artificial Intelligence and Cryptocurrency Affairs, Scott Bessent is in charge of the Treasury Department, former Securities and Exchange Commission (SEC) Commissioner Paul Atkins was nominated to lead the regulator. Trump also signed an executive order called Strengthening the U.S. Leadership in the Field of Digital Financial Technology, which includes measures such as requiring the assessment of "national digital asset reserves." In this environment, companies such as Figure , Security and Fireblocks are booming, adapting to some of the most prominent trends in the industry.

Taking the tokenized real-world assets (RWA), the concept has evolved from a buzzword to a multi-billion dollar industry. The typical case is Figure, co-founded by former SoFi CEO Mike Cagney, which has applied blockchain technology to traditional lending and has tokenized over $13 billion in home equity lines of credit. Meanwhile, Securitize has partnered with BlackRock to launch BUIDL, a tokenized U.S. Treasury bond product that has attracted $640 million in investment.

There is also Fireblocks, a leader in crypto infrastructure, which has secured more than $6 trillion in digital asset transactions. It recently launched a state-regulated custodial platform along with AI-powered transaction optimization tools designed to meet the growing demands of institutional clients.

Here are three crypto companies selected for the top 50 FinTech in 2025:

Figure

Headquarters: New York, New York

Figure, co-founded by former SoFi CEO Mike Cagney, uses technology to speed up the application process for home equity credit. It also has a custom blockchain platform that tokenizes home equity lines of credit (i.e. securitizes) and sells it to earning-hungry investors through its own private credit market. In 2024, Figure's revenue increased by more than 50% from US$196 million in 2023 to US$321 million, with a gross profit margin of 55%. About 70% of its 150,000 customers 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 served as executive chairman.

Financing: Received $500 million in financing from companies such as Apoll, Morgan Creek and Ribbit

Latest valuation: US$3.2 billion

Last Valuation Date: May 2021

Highlights: Its software has been used to initiate over $13 billion in home equity credit

Co-founder: Executive Chairman Mike Cagney, 53; June Ou, 59, former president and now consultant

CEO: Michael Tannenbaum, who previously served as Chief Revenue Officer at SoFi and Chief Operating Officer at Brex, joined Figure in 2024

Fireblocks

Headquarters: New York, New York

Fireblocks' software helps investors securely hold cryptocurrencies, as well as institutions such as Worldpay, Revolut, BNP Paribas and New York Bank Mellon. Although the company's revenue in 2024 was US$1.24 million, it has not 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 over the past year include a limited purpose trust company regulated by New York State, aiming to provide clients with bank-level custody services, and an artificial intelligence tool that helps clients more flexibly respond to market changes in their trading activities.

Financing: Received $1 billion in funding from companies such as Spark Capital, Cyberstarts and Coatue

Latest valuation: $8 billion

Last Valuation Date: January 2022

Highlights: Since its inception, its infrastructure has supported over $6 trillion in deals

Co-founder: CEO Michael Shaulov, 42, who previously founded the cybersecurity startup Lacoon Mobile Security; CTO Pavel Berengoltz, 48; Chief Product Officer Idan Ofrat, 43

Securitize

Headquarters: Miami, Florida

Securitize transfers real-world assets such as Treasury bonds or private equity to the blockchain, allowing investors to buy and sell easily. The flagship product of Securities is BUIDL, a tokenized Treasury bond product launched in March 2024 with BlackRock. BUIDL currently holds $640 million in assets.

Financing: Received $170 million in funding from companies such as BlackRock, Blockchain Capital and Morgan Stanley

Latest valuation: US$479 million

Last Valuation Date: July 2022

Highlights: Total assets tokenization with partners including BlackRock, Hamilton Lane and KKR

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