Foresight News: The Future Of Crypto And Blockchain: Fintech 50 2025
Author: Nina Bambysheva
Translator: Luffy, Foresight News
In 2024, Bit finally entered the mainstream. More than a dozen Bit ETFs were approved, and institutional capital flooded in, gaining wider recognition on Wall Street for a market previously dominated by retail investors. Subsequently, Donald Trump won the election, and Bit prices soared further, with people expecting Trump's administration to usher in a golden age for Bit. By December, the Bit price broke through the $100,000 mark.
Trump's early pro-Bit stance was already clear, as evidenced by his key appointments and orders: venture capitalist David Sacks was appointed as the AI and Bit czar, Scott Bessent took over the Treasury, and former SEC commissioner Paul Atkins was nominated to lead the regulator. Trump also signed an executive order called "Strengthening U.S. Leadership in Digital Finance Technology," which included measures such as evaluating a "National Bit Reserve." In this environment, companies like Figure, Securitize, and Fireblocks thrived, aligning with some of the industry's most prominent trends.
For example, the concept of tokenizing real-world assets (RWA) has evolved from a buzzword to a multi-billion-dollar industry. A typical case is Figure, co-founded by former SoFi CEO Mike Cagney, which applies Blockchain technology to traditional lending, tokenizing over $13 Billion in home equity. Meanwhile, Securitize partnered with BlackRock to launch BUIDL, a tokenized U.S. Treasury product that has attracted $640 million in investment.
Another leading crypto infrastructure company is Fireblocks, which has secured over $60 trillion in digital asset transactions. It recently launched a state-regulated custody platform and an AI-driven trading optimization tool to meet the growing demands of institutional clients.
Here are three Bit companies that made the Fintech 50 for 2025:
Figure
Headquarters: New York, NY
Co-founded by former SoFi CEO Mike Cagney, Figure uses technology to accelerate the home equity application process. It also has a custom Blockchain platform to tokenize home equity loans and sell them to yield-hungry investors through its private credit market. In 2024, Figure's revenue grew over 50% from $196 million in 2023 to $321 million, with a 55% gross margin. About 70% of its 150,000 customers come from over 200 Fintech and mortgage banking partners, including real estate platforms like RATE (formerly Guaranteed Rate) and Credit Karma. In April 2024, former Brex executive Michael Tannenbaum became CEO, with Cagney as Executive Chairman.
Funding: $500 million from investors including Apollo, Morgan Creek, and Ribbit
Latest Valuation: $3.2 Billion
Last Valuation Date: May 2021
Highlight: Its software has facilitated over $13 Billion in home equity originations
Co-Founders: Executive Chairman Mike Cagney, 53; June Ou, 59, former President, now Advisor
CEO: Michael Tannenbaum, previously Chief Revenue Officer at SoFi and COO at Brex, joined Figure in 2024
Fireblocks
Headquarters: New York, NY
Fireblocks' software helps investors and institutions like Worldpay, Revolut, BNP Paribas, and BNY Mellon securely hold Bit. Although the company generated $12.4 million in revenue in 2024, it is not yet profitable, heavily investing in new initiatives to support crypto asset activities across entities from banks to startups. Key products launched in the past year include a New York state-regulated limited purpose trust company to provide bank-grade custody services for clients, and an AI-powered tool to help clients navigate market changes more flexibly in their trading activities.
Funding: $1 Billion from investors including Spark Capital, Cyberstarts, and Coatue
Latest Valuation: $8 Billion
Last Valuation Date: January 2022
Highlight: Its infrastructure has supported over $60 Trillion in transactions since inception
Co-Founders: CEO Michael Shaulov, 42, previously founded cybersecurity startup Lacoon Mobile Security; CTO Pavel Berengoltz, 48; CPO Idan Ofrat, 43
Securitize
Headquarters: Miami, FL
Securitize transfers real-world assets like government bonds or private equity onto the Blockchain, allowing investors to easily buy and sell. Securitize's flagship product is BUIDL, a tokenized Treasury bond product launched in March 2024 in partnership with BlackRock. BUIDL currently holds $640 million in assets.
Funding: $170 million from investors including BlackRock, Blockchain Capital, and Morgan Stanley
Latest Valuation: $479 Million
Last Valuation Date: July 2022
Highlight: Has tokenized over $1 Billion in assets with partners including BlackRock, Hamilton Lane, and KKR
Co-Founders: CEO Carlos Domingo, 54; President Jamie Finn, 47
