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On-ramps, stablecoin issuance, custody and the banks that still sit underneath: what crypto-native companies disclose about their fiat and crypto stacks.
Crypto companies need two stacks at once: the crypto side (custody, stablecoin issuance, on- and off-ramps) and the fiat side (a bank account, card program and payouts) that connects them to everyone else.
This guide counts both sides across the crypto-native companies in the index, and names the banks and providers that serve them.
The share of crypto companies whose public disclosures name each financial layer, and the providers named most often. Layer names link to the full leaderboard; provider names link to the provider’s page.
Bridge is named by 12 of the 89 that use a provider, ahead of Circle and Fireblocks. 31 run it on their own licence or in-house.
OpenPayd is named by 11 of the 71 that use a provider, ahead of Evolve Bank & Trust and Lead Bank. 7 run it on their own licence or in-house.
Stripe is named by 23 of the 51 that use a provider, ahead of Checkout.com and PayPal. One provider holds 45% of the layer. 16 run it on their own licence or in-house.
OpenPayd is named by 11 of the 44 that use a provider, ahead of Bridge and Nium. 5 run it on their own licence or in-house.
Lead Bank is named by 7 of the 34 that use a provider, ahead of Evolve Bank & Trust and Third National.
Rain is named by 5 of the 28 that use a provider, ahead of Bridge and Evolve Bank & Trust.
Plaid is named by 9 of the 28 that use a provider, ahead of Nium and OpenPayd.
Sumsub is named by 7 of the 24 that use a provider, ahead of Persona and Veriff.
Morpho is named by 3 of the 17 that use a provider. 4 run it on their own licence or in-house.
Atomic Brokerage is named by 2 of the 8 that use a provider, ahead of Modern Treasury.
Companies rarely stop at one layer: 50% of crypto companies run two or more. These are the layers that travel together most strongly, compared with companies that don’t run the first one.
Six crypto companies with deep public stacks. “Own” marks a layer the company runs itself. Each card links to the full dossier.
Wallet infrastructure, stablecoin APIs and on-ramp providers turn crypto into a feature a product team can ship without running its own custody, though licensing still applies.
In the data: 47% of crypto companies disclose crypto. Most named: Bridge (12), Circle (9), Fireblocks (8). See the layer · full leaderboard
A small group of banks and e-money platforms serve crypto companies. Losing one has repeatedly cut companies off from fiat rails, so many keep more than one.
In the data: 34% of crypto companies disclose accounts. Most named: OpenPayd (11), Evolve Bank & Trust (6), Lead Bank (6). See the layer · full leaderboard
How this is counted: 222 crypto companies in the Embedded Finance Index, each with a dossier built from its own public disclosures. A company counts for a layer when it names a provider for it or runs it in-house; a company that discloses nothing about a layer is not counted, so every share is a floor. Provider spellings are merged. Data as of 2026-11-14. See also embedded finance statistics and every leaderboard.
Of the 222 crypto companies in the Embedded Finance Index, 51 name a payments provider. The most named are Stripe (23), Checkout.com (7), PayPal (4), Adyen (3), Bridge (3).
crypto (47%), accounts (34%), payments (27%), FX and payouts (22%), counted from public disclosures of 222 crypto companies. 50% run two or more layers.
Companies that run crypto are 4.3 times as likely to also offer cards: 22% of them do, against 5% of the crypto companies that don't run crypto.
Each company in the Embedded Finance Index has a dossier built from its own public disclosures: website, documentation, terms, filings and press. A company counts for a layer when it names a provider for it or runs it in-house. Companies that disclose nothing about a layer are not counted for it, so every share is a floor. Data as of 2026-11-14.