Which crypto companies are on the Forbes Fintech 50 for 2025?
TechFlow Selected TechFlow Selected
Which crypto companies are on the Forbes Fintech 50 for 2025?
Figure, Fireblocks, and Securitize are three crypto companies selected.
Navigating Web3 tides with focused insightsWritten by: Nina Bambysheva
Translated by: Luffy, Foresight News
In 2024, cryptocurrency finally went mainstream. Over a dozen spot Bitcoin exchange-traded funds (ETFs) were approved, institutional capital poured in, and a market once dominated by retail investors gained broader recognition on Wall Street. Then Donald Trump won the election, sending crypto asset prices soaring further amid expectations that his administration would usher in a golden age for digital assets. By December, Bitcoin had surpassed the $100,000 mark.
Trump’s early pro-crypto stance was clearly demonstrated through key appointments and executive actions: venture capitalist David Sacks was appointed as the "czar" for artificial intelligence and cryptocurrency, Scott Bessent took charge of the Treasury Department, and former U.S. Securities and Exchange Commission (SEC) commissioner Paul Atkins was nominated to lead the regulatory body. Trump also signed an executive order titled “Strengthening American Leadership in Digital Financial Technology,” which included measures such as assessing a “National Digital Asset Reserve.” In this environment, companies like Figure, Securitize, and Fireblocks thrived by aligning with some of the industry's most prominent trends.
Take tokenized real-world assets (RWA), for example—a concept that has evolved from buzzword into a multi-billion-dollar industry. A prime case is Figure, co-founded by former SoFi CEO Mike Cagney, which applies blockchain technology to traditional lending and has already tokenized over $13 billion in home equity lines of credit. Meanwhile, Securitize partnered with BlackRock to launch BUIDL, a tokenized U.S. Treasury product that has attracted $640 million in investments.
There’s also Fireblocks, a leader in crypto infrastructure, which has secured over $6 trillion in digital asset transactions. It recently launched a state-regulated custodial platform and an AI-driven trading optimization tool aimed at meeting the growing demands of institutional clients.
Below are three crypto firms featured in the 2025 Fintech 50:
Figure
Headquarters: New York City, New York
Founded by former SoFi CEO Mike Cagney, Figure uses technology to accelerate the application process for home equity lines of credit. It also operates a custom blockchain platform that tokenizes (i.e., securitizes) these credit lines and sells them through its private credit marketplace to yield-seeking investors. In 2024, Figure’s 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 through more than 200 fintech and mortgage banking partners, including real estate platforms like RATE (formerly Guaranteed Rate) and Credit Karma. In April 2024, Michael Tannenbaum, a former executive at Brex, became CEO, while Cagney transitioned to executive chairman.
Funding: $500 million raised from firms including Apoll, Morgan Creek, and Ribbit
Latest valuation: $3.2 billion
Last valuation date: May 2021
Highlight: Its software has been used to originate over $13 billion in home equity lines of credit
Co-founders: Executive Chairman Mike Cagney, 53; June Ou, 59, formerly president, now advisor
CEO: Michael Tannenbaum, previously Chief Revenue Officer at SoFi and COO at Brex, joined Figure in 2024
Fireblocks
Headquarters: New York City, New York
Fireblocks’ software enables investors and institutions such as Worldpay, Revolut, BNP Paribas, and BNY Mellon to securely hold cryptocurrencies. Although the company generated $1.24 million in revenue in 2024, it remains unprofitable and is heavily investing in new initiatives to support crypto activities across banks and startups alike. Key products launched in the past year include a New York State-regulated limited-purpose trust company offering bank-grade custody services, and an AI-powered tool helping clients adapt more flexibly to market shifts during trading.
Funding: $1 billion raised from firms including Spark Capital, Cyberstarts, and Coatue
Latest valuation: $8 billion
Last valuation date: January 2022
Highlight: Its infrastructure has supported over $6 trillion in transactions since inception
Co-founders: CEO Michael Shaulov, 42, who previously founded cybersecurity startup Lacoon Mobile Security; CTO Pavel Berengoltz, 48; Chief Product Officer Idan Ofrat, 43
Securitize
Headquarters: Miami, Florida
Securitize moves real-world assets such as government bonds or private equity onto blockchains, enabling investors to easily buy and sell them. Its flagship product is BUIDL, a tokenized U.S. Treasury instrument launched in March 2024 in partnership with BlackRock. BUIDL currently holds $640 million in assets.
Funding: $170 million raised from firms including BlackRock, Blockchain Capital, and Morgan Stanley
Latest valuation: $479 million
Last valuation date: July 2022
Highlight: Has tokenized over $1 billion in assets in collaboration with partners including BlackRock, Hamilton Lane, and KKR
Co-founders: CEO Carlos Domingo, 54; President Jamie Finn, 47
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
Forbes
