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Five crypto companies — including decentralized exchange Hyperliquid, which reached scale without raising external funding — have earned spots on the 2026 Forbes Fintech 50, as blockchain platforms increasingly compete with traditional fintech in payments, lending, and capital markets infrastructure.
The latest Forbes Fintech 50 arrives at a pivotal moment for the industry. After years of volatility, digital asset companies are recalibrating business models, tightening compliance, and focusing on sustainable growth rather than speculative hype.
The 2026 lForbes Fintech 50 underscores how crypto-native platforms are increasingly competing with traditional fintech players in payments, lending, capital markets, and infrastructure.
Polymarket, which has raised $2.3 billion in funding, continues to gain traction as a blockchain-based prediction market that allows users to trade on real-world outcomes. Meanwhile, Securitize, with $425 million raised, has positioned itself at the forefront of tokenized securities—bridging traditional assets and blockchain rails.
Phantom, valued at $2.68 billion in funding rounds, has grown into one of the most widely used self-custody wallets in the Web3 ecosystem. Ledn, which has raised $1.07 billion, operates in the digital asset lending space. Hyperliquid stands out for having reached scale without raising external funding—an increasingly rare feat in venture-backed fintech.
Together, their inclusion in the Forbes Fintech 50 highlights the breadth of crypto’s integration into financial services.
Data from CB Insights shows that global fintech private funding reached $53 billion in 2025. While that figure remains well below the $152 billion peak recorded in 2021, it marks the first year of funding growth after a prolonged downturn.
The rebound adds context to this year’s Forbes Fintech 50. Fintech capital flows may be more disciplined than during the boom years, but investors are still backing platforms with clear use cases and scalable infrastructure.
Compared with artificial intelligence startups—whose valuations have surged—crypto companies are being priced more conservatively. Yet the Forbes Fintech 50 demonstrates that innovation within blockchain-based platforms remains robust.
Industry observers note that crypto’s maturation is reflected in the composition of the Forbes Fintech 50.
Earlier cycles were dominated by exchanges and token issuers. Today’s leaders increasingly focus on infrastructure, compliance, custody, and institutional-grade services.
Securitize’s tokenization model, for instance, aligns with broader institutional interest in digitizing real-world assets. Phantom’s wallet services emphasize security and user autonomy. Ledn’s lending operations highlight the evolution of credit markets within crypto.
By featuring these firms, the Forbes Fintech 50 signals a shift from speculative trading narratives toward foundational financial architecture.
Forbes editors have consistently framed the Forbes Fintech 50 as a barometer of where financial innovation is heading.
In previous commentary accompanying the rankings, Forbes has emphasized that the list “identifies the private companies most likely to shape the future of finance.” That framing applies squarely to this year’s crypto cohort.
Hyperliquid’s capital-efficient growth model, in particular, has drawn attention from analysts who see it as evidence that decentralized platforms can scale sustainably without heavy venture backing.
Meanwhile, Polymarket’s rise points to growing interest in decentralized information markets—a sector that intersects with both finance and public discourse.
While AI startups dominate headlines with sky-high valuations, the Forbes Fintech 50 reveals a quieter but steady resurgence in crypto.
Market participants argue that lower valuations could ultimately prove healthy. Excessive leverage and inflated expectations were hallmarks of the 2021 cycle. The current environment, shaped by tighter funding and regulatory scrutiny, may create more durable companies.
The inclusion of multiple blockchain platforms in the Forbes Fintech 50 suggests that investors and industry watchers see long-term promise beyond short-term volatility.
Another theme emerging from the Forbes Fintech 50 is institutional integration.
Tokenization platforms like Securitize are working with regulated financial entities. Lending platforms such as Ledn have refined risk management models after previous market shocks. Wallet providers like Phantom are improving user interfaces to attract mainstream adoption.
Each of these developments signals crypto’s convergence with traditional finance—an evolution the Forbes Fintech 50 appears to recognize.
The broader message of the Forbes Fintech 50 is not simply that crypto companies are surviving—it’s that they are shaping the next chapter of fintech.
As regulatory frameworks evolve and funding stabilizes, platforms focused on compliance, scalability, and real-world utility are gaining prominence.
The 2026 Forbes Fintech 50 paints a picture of an industry that has moved beyond its speculative adolescence. Crypto firms are no longer defined solely by token price movements but by infrastructure, integration, and innovation.
For founders, investors, and policymakers alike, the ranking provides a snapshot of where capital and credibility are converging.
And in a year when fintech funding is rebounding after a multi-year slump, the prominence of crypto platforms in the Forbes Fintech 50 suggests that blockchain-based innovation remains a core pillar of financial technology’s future.
As the sector continues to mature, the companies recognized in the Forbes Fintech 50 may well define how digital assets, tokenization, decentralized markets, and blockchain infrastructure reshape global finance in the decade ahead.
