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The $6 Trillion Blockchain You Have Never Heard Of
It does not run a token you can buy on Coinbase. It runs the ledger under $6 trillion of tokenized assets - and Wall Street's biggest names are the ones building on it.
SettleMint
SettleMint is a Belgium-founded blockchain-platform-as-a-service company that helps banks, governments and large enterprises build, deploy and operate blockchain and tokenization applications without assembling infrastructure from scratch. Its Digital Asset Lifecycle Platform combines multi-chain infrastructure, smart-contract tooling, middleware and low-code application kits so teams can move from pilot to production across issuance, compliance, custody, settlement and servicing. Founded in 2016 by Matthew Van Niekerk and Roderik van der Veer, the company serves over 80 customers worldwide and powers national-scale deployments including Saudi Arabia's real-estate registration blockchain.
Fnality
Fnality is a London-based financial market infrastructure company building a network of regulated, blockchain-based wholesale payment systems that let banks settle transactions in a digital representation of central bank money. Its Sterling Fnality Payment System (£FnPS), launched in December 2023, is the world's first regulated distributed-ledger-technology wholesale payment system. Backed by a consortium of more than 20 global banks and market infrastructures, Fnality aims to enable 24/7 real-time, atomic settlement for tokenised asset markets, FX and repo, extending beyond Sterling into US Dollar, Euro and other currencies.
OpenNode
OpenNode is a Bitcoin payment processor and infrastructure provider that lets businesses accept Bitcoin and send payouts globally, settling instantly over the Lightning Network with automatic conversion to local currencies. Founded in 2018 and headquartered in Los Angeles, the company powers checkout, payouts, in-person payments and a developer API for merchants ranging from McDonald's El Salvador to Substack, charging a flat 1% fee with built-in chargeback protection.
Zerohash
Zerohash is a Chicago-based crypto and stablecoin infrastructure provider that lets banks, brokerages, fintechs and marketplaces embed digital-asset products - trading, payments, stablecoins and tokenization - through a single regulated API. Rather than building blockchain rails, custody and compliance themselves, clients like Stripe, Interactive Brokers, Morgan Stanley and Franklin Templeton plug into Zerohash's licensed, end-to-end platform. Founded in 2017 by Edward Woodford, the company reached unicorn status in 2025 and has settled tens of billions of dollars in volume for millions of end users across nearly 200 jurisdictions.
Baton Systems
Baton Systems is a post-trade infrastructure company that uses a shared permissioned ledger to give banks real-time control over collateral, payments and FX settlement. Its Core platform connects to legacy systems without ripping them out, and is already used by some of the largest banks in the world to move trillions of dollars with bank-grade safety in minutes instead of days.