CB Insights has named independent crypto prime broker SFOX as one of the world’s top 50 blockchain companies. The firm was given a place on CB Insights’ first ever Blockchain 50, a list of the top private companies using blockchain technology to solve some of businesses’ biggest problems. Winners were selected from a pool of 2,700 companies. SFOX provides its services in multiple categories including as an Exchange, Custody, Capital Markets, and Wallet services provider, and was honored in the Exchange category.
CB Insights CEO Anand Sanwal explained in a statement, “Blockchain moved from possible to practical in 2020 as evidenced by the enterprise adoption we tracked. At the same time, the blockchain company ecosystem also became more crowded, creating noise and uncertainty for enterprises as they evaluate vendors and partners. The Blockchain 50, which we’ve created in conjunction with Blockdata, was born out of a desire to reduce that uncertainty and recognize the pioneering companies using the blockchain.”
“As the longest running prime brokerage platform, SFOX has been a trusted partner for traders since 2014 and has expanded its offering to meet the demand from funds, financial services providers and institutions. We look forward to continuing to innovate to address the challenges our customers face in this highly complex and rapidly changing market,” said Akbar Thobhani, founder and CEO of SFOX.
When selecting the winners, CB Insights based its evaluation on factors including business models, market potential and momentum, competitive landscape, team strength, investor profiles, data submitted by the companies, and Mosaic scores. Many of the companies to make the list have established blockchain service contracts with enterprises like government agencies, retailers and traditional banks.
“We are honored that SFOX has been selected for inclusion on the CB Insights Blockchain 50 list. Our mission is to bring the most advanced and secure trading and custody solution to professionals, traders and institutions in this rapidly maturing market. Earning this recognition from CB Insights is a testament to SFOX’s innovation and leadership in driving institutional adoption of crypto assets,” said George Melika, co-founder of SFOX.