We are excited to share that Synapse was profiled by FT Partners for The Blockchain Economy report recently.
The report thoroughly covers the Blockchain Economy that has emerged through cryptocurrencies and other digital assets and the fintech companies that have brought blockchain to the main economy. FT Partners posits that over time, blockchain or distributed ledger technology (DLT) will be found across a wide breadth of industries, but financial services will lead the way because they are the most widely understood application for the technology.
As an example of a blockchain segment that the report covers, FT Partners details the history of Bitcoin and the rise of Ethereum. They review the growing interest in Decentralized Finance (DeFi), citing its wide breadth of use cases from simple transfers to complex marketplaces. They go on to identify eight use cases where DeFi could disintermediate the established system:
- Retail/institutional exchanges
- Payment systems
- Clearance and settlement
- Trade finance
- Digital identity
The report reviews other blockchain technologies and lays the landscape of the companies that are likely to enable its development and continued success. Reviewing the industry landscape of The Blockchain Economy report that covers a multitude of sectors from Exchanges to Infrastructure to Data, FT Partners selected Synapse for four key sectors: Infrastructure, Custody, Crypto Banking, and Borrowing/Lending. Few other companies were recognized to represent so many sectors.
In addition to the industry landscape, FT Partners also recognized Synapse in the company profiles, noting company leadership and funding, and highlighting our three business hubs: Deposit Hub, Credit Hub and Crypto Hub.