DeFi Companies

Superset is a cross-chain stablecoin liquidity protocol built on LayerZero that aggregates fragmented liquidity across EVM chains and Solana into a single unified execution layer. Its core mechanism, Liquidity Virtualisation, consolidates vault deposits across chains into one virtual pool for price discovery, reducing slippage and enabling consistent pricing regardless of per-chain depth. Singleton Vaults (one vault per token per chain) allow trade sizes bounded only by total chain liquidity, and a permissionless rebalancing system lets any market participant rebalance depleted pools for an incentive. The protocol raised a $4M seed round in early 2026 and targets stablecoin issuers, institutional liquidity providers, and fintech firms handling cross-border FX settlement.

Swiss Stablecoin AG issues the CHFD, a CHF-pegged stablecoin designed for the Swiss digital payments ecosystem. The token is described as fully backed by Swiss franc reserves and intended to enable instant, low-cost transactions without intermediary delays. The company is running a sandbox initiative starting in H2 2026 in partnership with major Swiss financial institutions including UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, and BCV to test real-world CHFD use cases. The project targets both retail and institutional adoption within Switzerland's regulated financial environment.

Swivel Finance is a decentralized protocol on Ethereum that enables fixed-rate lending and interest-rate derivatives by splitting deposited tokens into Principal Tokens (PTs) and Yield Tokens (YTs). PTs represent the initial deposit redeemable 1:1 at maturity, while YTs represent the yield stream and can be traded or redeemed at any time. Lenders can sell YTs on Swivel's exchange to lock in a fixed yield immediately, or buy YTs to amplify exposure to variable yield. The protocol raised $3.5M in a Series A round announced October 2021, backed by Multicoin Capital, Electric Capital, IOSG, GSR, DeFiance Capital, and Fenbushi Capital, among others.

Syntetika is a DeFi platform that tokenizes Bitcoin yield through a product called shBTC, which wraps BTC into a vault earning yield via a 'Basis+ BTC Strategy' combining off-chain and on-chain yield sources. The platform is powered by Hilbert Group (off-chain yield) and Galactica (on-chain yield), with custody handled by Copper. It raised a $2.5M seed round in July 2025 and currently operates a testnet demo, with mainnet APY and withdrawal terms listed as TBA. The platform also features a native $SYNT token and positions itself at the intersection of institutional capital and DeFi, targeting yield-seeking BTC holders.

Tangany, based in Munich, is a highly innovative fintech company with a market leading b2b solution for the custody of digital assets (e.g. crypto currencies, tokenized securities, NFTs) on blockchain networks.

Tangible is a DeFi protocol that tokenizes real-world assets (RWA) into NFTs (TNFTs) redeemable for physical goods, with a focus on real estate and US Treasuries. Its core products include USTB, a stablecoin backed by US Treasuries offering rebasing yield, and BASKETS, which represent fractional ownership of income-producing real estate. The protocol runs on Polygon and blends on-chain composability with off-chain yield sources, targeting users seeking uncorrelated, low-volatility returns. Access is restricted to non-US and non-sanctioned-jurisdiction users, and the platform carries explicit experimental-software risk disclosures.

Taurox is a decentralized autonomous trading protocol that allows users to pool capital into on-chain funds managed by AI trading agents, with returns distributed automatically via smart contracts. The TAUX token (2B fixed supply, Ethereum-based) is sold via a phased presale starting at $0.01, with the project reporting $1.51M raised and 108M tokens sold as of Phase 5. The protocol positions itself as hedge fund infrastructure without management fees or custodial intermediaries, with smart contracts audited and vesting protections in place. Users can register autonomous trading agents through a separate agent platform, and the project claims capacity for over 1 million agents.

Tenbin Labs is a tokenized asset protocol that issues on-chain tokens backed by CME futures positions rather than physical custody, targeting commodities and FX markets. Its first product is a tokenized gold token with real-time CME-derived pricing, fee-free minting and redemption in roughly 12 seconds, and basis yield passed directly to holders. The protocol uses Hidden Road as prime broker and has smart contracts audited by Spearbit, Verilog, and Fuzzland, with proof-of-reserve mechanisms. Investors and partners include Galaxy, Wintermute Ventures, FalconX, Nascent, Archetype, GSR, and Uniswap Labs. The company raised a $7.1M seed round in January 2026 and is incorporated in Delaware.

Tessera is a tokenization platform that creates on-chain tokens providing 1:1 economic exposure to private equity stakes in companies such as SpaceX, OpenAI, and xAI. The tokens trade permissionlessly on decentralized exchanges with no KYC, no accreditation requirements, and a minimum investment of $1, targeting the roughly 400 million crypto users currently excluded from private equity markets. Settlement is instant and 24/7, contrasting with the 50-day settlement windows typical of traditional private equity platforms like Forge Global. The platform positions itself as a synthetic exposure layer rather than a direct ownership vehicle, using blockchain infrastructure to bypass conventional accredited-investor gatekeeping.

Thala is a decentralized protocol built on the Aptos blockchain that bundles spot trading, liquidity pools, liquid staking, and a CDP-based borrowing system into a single application. Its stablecoin issuance via collateralized debt positions (CDP) and stability pool mechanism place it squarely in the DeFi category, alongside yield-bearing products. The protocol reports approximately $16M in total value locked and over $12.3B in cumulative trading volume across 652,000 users. Partners include bridges (LayerZero, Wormhole), oracles (Pyth, Switchboard), and RWA protocols (Ondo, Mountain Protocol), and it operates Thala Foundry, an incubator in partnership with the Aptos Foundation.

Thales Protocol is a decentralized derivatives platform built on Ethereum-compatible chains (Optimism, Arbitrum, Base) that enables permissionless creation of binary options and sports prediction markets. Each market is deployed as an independent smart contract, with positions tokenized as ERC20 tokens backed by USD collateral. The ecosystem includes digital options (UP/DOWN/IN/OUT on crypto and commodity prices), Speed Markets with expiries as short as 15 minutes using Pyth oracles, and a Sports AMM supporting parlay betting. The protocol has processed over $24M in total volume across 20,760 markets and 2,670 unique users, with infrastructure backed by Synthetix, Chainlink, and Framework Ventures. Thales DAO has since rebranded to Overtime DAO with a token migration.

The Better Money Company operates a stablecoin clearinghouse that enables 1:1 fungible conversion between USD-pegged tokens such as USDT and USDC, aggregating liquidity across issuers to reduce fragmentation and standardize settlement. Its core product acts as a connectivity layer between stablecoin issuers, wallets, and fintech platforms, offering transparent pricing and predictable settlement times. Partners and integrations span a broad ecosystem including Phantom, MetaMask, Paxos, Bridge (Stripe), MoonPay, LayerZero, and Modern Treasury. The company raised a $10M seed round backed by a16z crypto, BoxGroup, and Sunflower Capital, and is currently in waitlist/pre-launch phase as of mid-2025.

Theo is a real-world asset (RWA) tokenization platform that issues onchain financial products backed by traditional assets. Its current product suite includes thBILL, an AAA-rated tokenized U.S. Treasury product with 24/7 liquidity; thGOLD, a yield-bearing gold token backed by loans to jewelry manufacturers; and thUSD, an upcoming stablecoin earning gold yield. The platform targets issuers, allocators, and DeFi ecosystems, positioning its tokens as composable collateral usable across lending protocols, DEXs, and vaults. Theo raised $20M in April 2025 and has partnered with Zodia Markets for institutional custody, with over $100M committed to the ULTRA tokenized product via Libeara.

Thetanuts Finance is an on-chain options protocol offering fully collateralized option contracts backed 100% by locked collateral, eliminating counterparty risk. Its core infrastructure includes an on-chain limit order book (OptionBook) with partial fills and immediate execution, and an RFQ system (OptionFactory) using a commit-reveal scheme to prevent front-running on customized options. The protocol deploys non-upgradeable contracts across multiple chains using deterministic deployment nonces for consistent cross-chain addresses, and uses TWAP oracles for manipulation-resistant settlement. Beyond the core protocol, Thetanuts operates a broader ecosystem ('Thetaverse') including Odette (structured options trading), Zend Finance (zero-liquidation borrowing), and Flys.bet (lottery-style products), with additional products like Kairos Markets and a perp/options dApp listed as coming soon.

Tori Finance is a DeFi yield protocol that issues trUSD, a synthetic dollar backed by delta-neutral and market-neutral trading strategies including futures arbitrage, calendar spreads, and short-duration money market instruments. Users swap USDC or USDT for trUSD, then stake it to receive strUSD, a yield-bearing token that automatically accumulates returns from these strategies, targeting approximately 15% APY. Smart contracts are audited by Sherlock and monitored by Hypernative, with real-time proof-of-reserves transparency. Partners and backers visible on the site include Delphi, LayerZero, and QInvest, and the protocol raised a Seed round announced in early 2026.

Trepa is a Solana-based decentralized prediction platform where users stake estimates on macroeconomic and price-based outcomes, with payouts distributed proportionally to prediction accuracy rather than simple binary outcomes. The platform uses 'Flash Pools' — short-duration prediction rounds designed for rapid resolution — and scores participants on a precision metric that rewards closeness to the actual outcome, not just directional correctness. A competitive leaderboard and XP system add a gamified layer alongside monetary rewards. The project raised a $420,000 pre-seed round announced in August 2025 and is currently preparing a V2 with a closed beta signup underway.

Turtle is a liquidity distribution protocol that connects liquidity providers (LPs) with DeFi protocols seeking to attract TVL through incentive programs and reward campaigns. LPs deposit assets to earn native yield plus boosted rewards from partner ecosystems, while protocols use Turtle's dashboard to submit deals, track TVL, and measure liquidity cost in real time. A third product tier, Turtle Earn, lets distribution partners (wallets, aggregators, other Web3 apps) embed curated yield opportunities via Widget, API, or SDK and earn a share of user deposits. As of the website snapshot, the protocol reports ~$78.9M in active TVL, 1,010 active opportunities, and 5,430 monthly active users, with a $6.56M treasury. The project raised a $5.5M strategic round in late 2025.

Ubyx is building a global clearing and settlement network specifically for tokenized money, including stablecoins and tokenized bank deposits. It operates a 'collection model' that allows any issuer to connect once and reach all participating receiving institutions, eliminating the need for bilateral agreements between every issuer-institution pair. The network addresses the 'redemption gap' — the lack of a universal mechanism to redeem tokenized money at par value through regulated institutions across multiple blockchains. Backed by a notable seed round of $10M with investors including Barclays, Coinbase Ventures, Founders Fund, Galaxy Digital, Paxos, and Payoneer, the project targets financial institutions and stablecoin issuers as its primary participants.

Unitas Labs issues USDu, a crypto-native synthetic dollar stablecoin backed by delta-neutral strategies that pair spot crypto assets with equivalent short derivative positions, eliminating reliance on traditional bank reserves. Users can stake USDu to receive sUSDu, an interest-bearing savings asset that accrues the protocol's generated yield — reportedly delivering ~12.55% returns since inception versus ~1.19% for T-bills over the same period. The protocol operates primarily on Solana and reports $102.5M in USDu supply, a 101.82% backing ratio, and approximately 191,000 users as of mid-2025. Partners and integrations include Kamino, Orca, Chainlink, CEFFU, Plume, and RateX, with a $13.3M seed round announced in early 2026.

Universal issues USDU, a USD-backed stablecoin regulated by the FSRA under the Abu Dhabi Global Market (ADGM) framework and registered with the Central Bank of the UAE as a Foreign Payment Token. Each USDU token is backed 1:1 by liquid USD reserves held at Emirates NBD and Mashreq, with independent monthly attestations published for transparency. The token is designed for institutional digital asset settlement, targeting exchanges, brokerages, and cross-border payment use cases on blockchain rails. Partners include Aqua, CertiK (auditor), and UAE banks; the project publishes a whitepaper and a 'Stablecoins 101' guide aimed at financial institutions.

Upshift Finance is a DeFi yield platform built on top of August, a prime brokerage infrastructure layer, that gives retail users access to high-yield strategies typically reserved for institutional participants. Users can deposit assets such as USDC and HYPE to earn optimized APY through strategies sourced from institutional-grade venues. The platform has accumulated over $431 million in total deposits and is backed by Dragonfly, Hack VC, 6th Man Ventures, and Robot Ventures. Its core pitch is bridging the gap between CeFi and DeFi by packaging institutional yield strategies into a retail-accessible interface.

USBC (U.S. Bank Coin) is a tokenized bank deposit platform that issues a dollar-denominated digital token backed by real U.S. bank deposits and designed for on-chain use. The project operates via a mobile app (available on iOS and Android) and has executed a definitive agreement with Uphold and Vast Bank to advance its tokenized deposit infrastructure. Unlike algorithmic or reserve-backed stablecoins, USBC positions itself as a deposit token — a regulated bank liability represented on-chain — which distinguishes it from typical stablecoins like USDC or USDT. The whitepaper, published October 2025, outlines the technical architecture, and the platform includes a name registry and developer-facing terms, suggesting an ecosystem buildout beyond retail use.

USDC is a regulated US dollar-pegged stablecoin issued by Circle, designed to function as a digital dollar usable for sending, trading, saving, and spending. It operates across multiple blockchains including Ethereum and Solana, with the USDC Treasury minting and burning tokens to maintain the peg. The stablecoin is trusted by major exchanges and financial platforms including Binance, Coinbase, Kraken, OKX, Bybit, MoneyGram, and NuBank, among others. USDC positions itself as the largest regulated digital dollar, targeting both retail users and businesses seeking programmable dollar infrastructure.

Moneta issues USDM, a fiat-backed stablecoin native to the Cardano blockchain, where each token is pegged 1:1 to USD reserves held in bank deposits and money market funds managed by Fidelity and Western Asset Management. The issuing entity, Moneta Digital LLC, is a US-registered Money Services Business regulated by FinCEN, with reserves verified on-chain via the Charli3 oracle. USDM is designed as a base asset for Cardano DeFi protocols and on-chain payments, and is tradeable across several Cardano DEXs including Minswap, GeniusYield, and SundaeSwap. The project originated from the Cardano community as Mehen Finance LLC and raised $1.5M in funding announced March 2025.