The Best Institutional Enterprise Blockchain Implementation award focuses on specific, working blockchain projects that are actually transferring money or assets, not just general blockchain initiatives or the technology itself.
This award is part of the BeInCrypto Institutional 100. It focuses on Tokenization & Enterprise Blockchain – specifically, Pillar 6 of the awards. The ten projects listed below are presented alphabetically, without any ranking. We’ll announce a shortlist in May 2026, and the winner will be revealed at Proof of Talk in Paris on June 2nd and 3rd, 2026.
Key Facts
- Long list: 10 production deployments across settlement, tokenized deposits, digital bonds, regulated stablecoins, capital markets infrastructure, cross-border interoperability, and institutional custody
- Initial pool: More than 25 enterprise blockchain deployments screened; 10 advanced to the long list
- Order: Listed alphabetically, not ranked
- Scoring: 30% quantitative data · 50% Expert Council · 20% disclosed company data
- Criteria assessed: Business impact and ROI, deployment scale, technical sophistication, innovation, replicability, stakeholder breadth, sustainability
- Boundary scope: This category evaluates the implementation itself, not the underlying chain, DLT framework, or parent company’s broader digital asset strategy
| Implementation / Firm | HQ & Listing | Reach | Representative Work |
|---|---|---|---|
| BNY Mellon Digital Asset Platform | New York, USA
NYSE: BK |
Institutional digital asset stack within BNY Mellon’s $55.8T AUC/A platform
BTC and ETH custody live since 2022 with Fireblocks integration |
IBIT primary cash custodian and administrator since spot Bitcoin ETF launch in Jan 2024
Co-custodian for Morgan Stanley Bitcoin Trust; tokenized MMF platform with Goldman Sachs live since Sep 2025 |
| Broadridge Distributed Ledger Repo (DLR) | New York, USA
NYSE: BR |
More than $1T per month in tokenized repo transactions
Production since 2018; built on Canton Network with DAML smart contracts |
UBS, Société Générale, HSBC, and BNY Mellon participate
Privacy-preserving sponsored repo platform with JP Morgan Kinexys interoperability for collateral movement |
| Citi Token Services | New York, USA
NYSE: C |
Citi tokenized deposit and trade finance platform
Production since Sep 2023 across the US, Singapore, and the UK |
Tokenized deposit cross-border platform for institutional clients
Smart-contract trade finance covering reverse factoring, automated FX, and programmable corporate liquidity |
| Goldman Sachs Digital Asset Platform (GS DAP) | New York, USA
NYSE: GS |
Institutional digital bond platform built on Daml and Canton
Spin-out as standalone industry utility announced with partners including BNY, BNP Paribas, Barclays, Microsoft, Tradeweb, Standard Chartered, and EquiLend |
European Investment Bank €100M digital bond issued in Nov 2022
HKMA Project Ensemble tokenized deposit pilots; interoperability alignment with Broadridge DLR through Daml and Canton |
| HSBC Orion | London / Hong Kong
LSE / HKEX: HSBA |
HSBC permissioned blockchain digital bond issuance and tokenization platform
Integrated with Hong Kong Central Moneymarkets Unit and active in multi-bank interoperability pilots |
Hong Kong government HK$6B digital green bond issued in Feb 2024
Digital bond platform connects Hong Kong CMU infrastructure with tokenized issuance rails |
| Kinexys by J.P. Morgan | New York, USA
NYSE: JPM |
More than $5B daily transaction value as of Apr 2026
More than $3T cumulative volume since 2020; hundreds of institutional clients across five continents |
Kinexys Digital Payments processes tokenized deposits at production scale
Kinexys Digital Assets includes intraday repo and Tokenized Collateral Network; Trimont settlement compressed from two days to near real time |
| Mastercard Multi-Token Network (MTN) | Purchase, New York / UK
NYSE: MA |
$4.5B in stablecoin card spending in 2025
Crypto Partner Program launched in Mar 2026 with 85 participating companies |
Definitive agreement to acquire BVNK for up to $1.8B announced in Mar 2026
Integrated with JP Morgan Kinexys, Ondo OUSG, Fiserv Digital Asset Platform, USDG, PYUSD, USDC, and FIUSD |
| Société Générale FORGE (EURCV / USDCV) | Paris, France
EPA: GLE |
EURCV about €105M circulating
USDCV 26.3M tokens; multi-chain on Ethereum, Solana, and XRP Ledger |
First MiCA-compliant EUR stablecoin from a tier-one bank
First US tokenized bond issuance on Canton Network; MetaMask integration via Consensys |
| SWIFT + Chainlink CCIP Cross-Border Interop | La Hulpe, Belgium
Chainlink Labs: multi-location |
SWIFT network reaches 11,000+ banks
Production interoperability launched in 2024 with partners including UBS, BNY Mellon, ANZ, Citi, and Lloyds |
UBS Asset Management Singapore tokenized fund cross-chain pilot
MAS Project Guardian integration and Australia–EU interbank tokenized asset transfer corridor |
| Visa Tokenized Asset Platform (VTAP) | San Francisco, USA
NYSE: V |
API-based bank-grade tokenization platform on Visa Developer Platform
$7B annualized stablecoin settlement run rate; 15,000+ Visa-network banks accessible globally |
BBVA fiat-backed euro and dollar token on public Ethereum live in 2025
USDC settlement live in the US; Visa Direct stablecoin pilot; Circle Arc design role; Visa-Bridge card API program |
About This List
The BeInCrypto Institutional 100 highlights successful blockchain projects used by major financial institutions – including banks, payment companies, and investment firms – where they’re actually using the technology with real money and assets.
This encompasses a range of services including secure deposit handling with digital tokens, officially approved stablecoins from banks, networks for businesses using tokenization, the creation of digital bonds for institutions, seamless cross-border transactions, modernizing capital markets with distributed ledger technology, and secure storage of digital assets for institutions.
This assessment focuses solely on the category itself and doesn’t consider the technology it’s built on or the overall digital asset plans of the organization using it. Initial tests and trials aren’t included in the evaluation.
Methodology
This category’s score is determined using the BeInCrypto Institutional 100 methodology, specifically Track B. It’s calculated based on three factors: 30% comes from measurable data, 50% from ratings by our Expert Council, and the remaining 20% from information the company has publicly shared.
Evaluations are based on seven key factors: how much positive effect the project has on the business and its return on investment, how widely it’s being implemented, the technical complexity involved, how innovative it is, whether it can be easily copied, how many different groups are involved, and its long-term viability.
The way we adjusted the data reflects how little information is publicly available about things like banks’ use of tokenized deposits, how settlements happen within platforms, connections to specific networks, and programs involving identified parties.
We confirmed the data by checking official records, company reports, filings with the Securities and Exchange Commission (SEC), independently reviewed disclosures, blockchain transaction data from Chainlink CCIP and Canton Network, platforms like RWA.xyz and DefiLlama, ratings from independent agencies, private market research from PitchBook, Tracxn, and Crunchbase, and reports in major financial news sources.
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2026-05-19 01:40