JP Morgan and Chainlink Lead the Top 15 On-Chain Finance Infrastructure Firms — Where Institutional Money Flows

BeInCrypto's 2026 Institutional 100 has named J.P. Morgan Kinexys, Chainlink, BitGo, and 12 others as the leading on-chain finance infrastructure providers, signaling that traditional finance has crossed a critical threshold in its blockchain integration.

BeInCrypto's institutional research team reviewed more than 25 candidates for the On-Chain Finance Infrastructure category within its annual Institutional Digital Asset Excellence 100 program, advancing 15 firms to the final long list. Evaluation criteria include institutional client rosters, regulatory licensure, on-chain transaction scale, security track record, capital backing, and governance maturity. Scoring is split 50% quantitative data and 50% Expert Council assessment. The winner will be announced at the Proof of Talk conference in Paris on June 2–3, 2026.

J.P. Morgan Kinexys: settling up to $7 billion daily on-chain

The standout name on the list is Kinexys, operated by J.P. Morgan Chase. As of April 2026, the platform settles $5–7 billion per day on-chain, with cumulative volume since its 2020 launch exceeding $3 trillion. Its deposit token JPMD has been deployed on the Ethereum L2 network Base, and the platform is running real-time tokenized collateral delivery-versus-payment (DvP) experiments in collaboration with Ondo Finance and Chainlink CCIP.

The era of traditional banks building their own on-chain settlement infrastructure has arrived. Kinexys proves that J.P. Morgan is running an actual blockchain finance layer at scale.

BeInCrypto Research Team

Chainlink CCIP processed $18B in Q1 — SWIFT integration now live

Oracle network Chainlink (LINK) stands alone with a cumulative enabled transaction value of $30 trillion. In Q1 2026 alone, its Cross-Chain Interoperability Protocol (CCIP) processed $18 billion. A formal SWIFT integration went live in November 2025, completing corporate actions workflows with 24 financial institutions. It represents the first practical merger of traditional financial messaging infrastructure with a public blockchain layer.

MAS-backed Partior gains Deutsche Bank as first European major

Partior, a bank-consortium blockchain anchored by the Monetary Authority of Singapore (MAS), counts DBS, J.P. Morgan, Standard Chartered, and Temasek as founding shareholders. It provides real-time settlement in USD, EUR, and SGD. In May 2025, Deutsche Bank signed a platform agreement, becoming the first large European bank to join. Born in Asia's financial hub, Partior is now positioning itself as a core layer for interbank settlement globally.

Publicly traded infrastructure plays

Several firms on the list offer public market exposure. BitGo (NYSE: BTGO) custodies $63 billion in digital assets and issues the USD1 stablecoin, posting $3 billion in notional derivatives volume in Q1 2026. Pyth Network (PYTH) delivers more than 3,000 real-time price feeds across 100+ blockchains and brought U.S. Commerce Department GDP data on-chain in March 2025. Wormhole supports 40+ chains, has transferred $60 billion cumulatively across more than 1 billion messages, and provides the cross-chain layer for tokenized assets including BlackRock's BUIDL and Agora's AUSD.

This long list represents more than a ranking. It is the first systematic research to quantify, with hard numbers, that institutional capital is actively flowing through on-chain finance infrastructure. Kinexys's daily settlement figures, Chainlink's quarterly CCIP throughput, and Deutsche Bank's decision to join Partior all point in the same direction: the boundary between traditional finance and blockchain is collapsing in practice, not just in theory.