non-custodial
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Liquid Labs wants to put the whole trade onchain
The company behind GTE began by joining token launches, liquidity pools, and an order book. Its next act asks whether a decentralized exchange can make the machinery disappear.
The Ex-Coinbase Custody Boss Wants Your Business Bank Account to Run on Stablecoins
Dakota looks like a normal business bank account. Underneath, your dollars are stablecoins backed by Treasuries you actually control - and that quiet swap is the whole pitch.
The Company That Locked Up the Keys - Then Let Anyone Prove It
Two ex-Coinbase engineers got tired of fighting key-management software, so they built the plumbing that now signs millions of crypto transactions a week - and made it verifiable, not just trusted.
AYC Fund
AYC Fund is an AI-native crypto hedge fund out of Y Combinator's W22 batch, founded in 2021 by MJ Kim in Seoul. It builds systematic, rules-based trading engines for digital-asset markets and now runs a private, invite-only program for qualified clients - high-net-worth individuals, family offices, and advisors - where capital stays in the client's own exchange account and the fund trades through read-and-trade API access rather than taking custody.
Coco Wallet
Coco Wallet (YC S19) is a global dollar account powered by stablecoins. Founded by Venezuelan entrepreneur Kevin Charles and his co-founders, it lets Latin American migrants and their families send, spend, save, and earn in digital dollars from a mobile app - combining the simplicity of a neobank like Nubank or Revolut with the freedom of self-custodial Web3, so people can access stable, borderless money without a traditional bank.
CoinList
CoinList is a San Francisco-based crypto platform that gives investors early access to new token sales and blockchain networks before they list on exchanges. Spun out of AngelList in 2017, it pioneered compliant token distribution with KYC/AML and accredited-investor verification, and has run primary sales for projects including Filecoin, Solana, Near and Algorand. In 2025 the company began shifting to a fully non-custodial, onchain model that delivers tokens directly into user-controlled wallets.
Futureswap
Futureswap is a decentralized, non-custodial protocol for leveraged perpetual trading, letting users take long or short positions on crypto assets with leverage while liquidity providers earn fees and token incentives. Built by a small San Francisco team led by founder Derek Alia, it launched on Ethereum in 2020, later moved to Arbitrum and Avalanche for lower-cost transactions, and pioneered an AMM-based design that plugs into pools like Uniswap and Trader Joe. Backed by roughly $13.5M from investors including Ribbit Capital, Framework Ventures, True Ventures and Placeholder, it was governed by the community via its FST token.
dYdX
dYdX is a decentralized trading protocol best known for perpetual futures, where traders take leveraged long and short positions on crypto without handing custody to a centralized exchange. Founded by ex-Coinbase engineer Antonio Juliano in 2017, it evolved from an Ethereum DeFi app into its own sovereign Cosmos appchain (dYdX v4) that runs a high-performance, validator-operated order book settled in USDC. The protocol is governed by the DYDX token and, with the 2025 launch of spot trading, opened access to U.S. traders for the first time.
Edge
Edge is a San Diego company building a self-custody, privacy-first mobile wallet for buying, storing, swapping and spending more than 120 cryptocurrencies. Founded in 2014 as Airbitz and rebranded to Edge in 2018, it pioneered a username-and-password login model backed by client-side encryption and a zero-knowledge architecture, so private keys and account data never leave a user's device unencrypted. The same security layer is offered to developers as the Edge Login SDK.
Halliday
Halliday is a San Francisco blockchain infrastructure company building the Agentic Workflow Protocol, a system that lets developers create onchain financial applications without writing smart contracts. Its flagship product, Halliday Payments, gives developers a single interface for fiat onramps, cross-chain bridging, swaps, and offramps. Backed by a16z crypto across both its seed and Series A rounds, Halliday has raised $26 million total and works with teams including DeFi Kingdoms, Avalanche, ApeCoin, Story Protocol, and Metis.
Paul Puey
Paul Puey is the CEO and co-founder of Edge, a San Diego-based self-custody crypto wallet and security platform. A UC Berkeley electrical engineering and computer science graduate who once shipped 3D graphics at Nvidia, he caught the Bitcoin bug in 2013 and launched Airbitz in 2014, rebranding it to Edge in 2017 as crypto moved beyond Bitcoin. His pitch is stubbornly simple: if you do not hold your keys, you do not own your coins, and security belongs on the edges of the network, in your hands, not on someone else's server.