Companies · in English
Wersja polska →Companies in stablecoins and RWA
Short profiles of the companies that build the stablecoin and tokenization market: what each does, how it differs from its neighbours, and what to watch.
26 profiles · ~19 994 words · 0 figures · data as of Sep 2026
Each profile answers the same questions: what the company does, for whom, how it differs from its closest competitor, where it fits in the stack, and what could go wrong. The chapters of both courses link here.
How to read. Start from the layer you care about. Every profile links back to the chapter that explains its layer.
- Asset managers and issuers
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BlackRock
BlackRock is the world's largest asset manager, and its BUIDL fund is the reference product for tokenized US Treasuries.
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Franklin Templeton
Franklin Templeton is a US asset manager that put a registered money-market fund on a public blockchain in 2021, three years before BlackRock.
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Ondo Finance
Ondo Finance is a New York company that turns Treasury funds and US-listed stocks into tokens for buyers outside the traditional brokerage system.
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Superstate
Superstate is a San Francisco company, founded by Compound's Robert Leshner, that started as a manager of tokenized funds and is turning into a transfer agent and issuance venue for tokenized shares.
→ - Tokenization platforms and credit
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Securitize
Securitize is the Miami company that keeps the on-chain register for BlackRock's BUIDL and a long list of other tokenized funds.
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Centrifuge
Centrifuge is a tokenization protocol that asset managers use to put funds and credit portfolios on-chain, best known today for Janus Henderson's tokenized Treasury and AAA-rated loan funds.
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Maple Finance
Maple Finance is an on-chain lender that raises stablecoins from depositors and lends them to trading firms and other institutions.
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Figure
Figure Technology Solutions is a US lender and loan marketplace that records home-equity loans on its own blockchain, Provenance, and sells them to investors.
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Canton Network and Digital Asset
Canton Network is a blockchain for regulated financial institutions, built by the New York software company Digital Asset, in which each participant sees only the transactions it is party to.
→ - Oracles
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Chainlink
Chainlink is the largest oracle network in crypto and the default price source for most of DeFi.
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RedStone
RedStone is an oracle company, founded by a Polish team and operating from Switzerland, that carries the daily net asset value of most Securitize funds, BlackRock's BUIDL among them, onto public blockchains.
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Pyth Network
Pyth is an oracle network whose prices come straight from the firms that trade: exchanges, market makers and trading desks.
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Chronicle
Chronicle is the oracle that grew up inside MakerDAO, now Sky, and still secures much of that system.
→ - Custody
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Anchorage Digital
Anchorage Digital is a US crypto custodian built around the first federally chartered digital-asset bank.
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Fireblocks
Fireblocks is a New York software company whose wallet and key-management technology banks, exchanges and stablecoin issuers use to hold and move digital assets.
→ - Stocks, venues and DeFi
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Backed Finance (xStocks)
Backed Finance is a Swiss issuer of tokens that track listed US stocks and ETFs, sold under the xStocks brand on exchanges and on-chain.
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Robinhood
Robinhood is a US retail broker that sells tokenized US stocks to customers outside the United States and runs its own blockchain, Robinhood Chain.
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Aave (Aave Horizon)
Aave is one of the largest lending protocols in DeFi, and Aave Horizon is its separate market where institutions borrow stablecoins against tokenized funds.
→ - Stablecoin issuers
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Tether
Tether issues USDT, the largest stablecoin by a wide margin and the main dollar of crypto trading and of cross-border payments in many emerging markets.
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Circle
Circle issues USDC, the second-largest stablecoin and the one most regulated institutions choose first.
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Paxos
Paxos is a regulated trust company that issues stablecoins for other brands.
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Sky (MakerDAO)
Sky, called MakerDAO until 2024, runs the oldest large decentralized stablecoins, DAI and its successor USDS. It has no company behind it in the usual sense: holders of the SKY token govern a set of smart contracts.
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Ethena (USDe)
Ethena issues USDe, a synthetic dollar held near one dollar by a hedge rather than by cash in a bank.
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PayPal (PYUSD)
PayPal is the first large US payments company to put its brand on a stablecoin.
→ - Payments infrastructure
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Bridge (Stripe)
Bridge sells stablecoin infrastructure to businesses: one API to accept, hold, move, convert and issue digital dollars.
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BVNK
BVNK is a London-founded company that lets businesses send, receive, hold and convert stablecoins and fiat through one API.
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