Allium, a startup that builds data infrastructure for banks and payment companies working with blockchain activity, is betting that the next stage of finance will run on public blockchains instead of private databases. The company was co-founded by CEO Ethan Chan, and it builds tools that turn raw, scattered blockchain records into clean, reliable information that financial institutions can actually use.
That bet is becoming harder to ignore. Stablecoins are digital tokens designed to hold a steady value, usually pegged to a currency like the dollar. There is now more than $302 billion worth of them in circulation. Another $394 billion in payments moved across blockchain networks in 2025, according to Allium's funding announcement. On top of that, $27.6 billion in traditional financial assets, things like bonds or funds, has already been converted into blockchain based tokens. As more money flows through these systems, institutions need a reliable way to check what is actually happening on them. Allium's own research suggests that task is harder than it sounds. The company estimates that less than a fifth of all stablecoin transfer volume reflects real economic activity, with the rest coming from bots and automated routing.
Allium announced that it had raised $40 million in a Series B funding round. Amplify Partners led the round, and existing investors Kleiner Perkins and Theory Ventures also took part. As part of the investment, Amplify Partners' David Beyer is joining Allium's board.
Blockchains are public by design. Anyone can technically see every transaction that happens on one. In practice, though, that openness creates a different kind of problem. Data is spread across more than 150 separate blockchain networks, and each one organizes its information differently. That makes it hard for a bank or financial institution to get a clear, trustworthy picture of what is going on. A bank tracking stablecoin payments, for instance, has to separate real customer transactions from automated trading, internal transfers, and other activity that can make the raw numbers misleading.
This problem matters more as traditional finance gets closer to blockchain networks. Visa worked with Allium to build its Onchain Analytics Dashboard, which gives the payment company's partners visibility into how stablecoins move across different blockchains. Boston Consulting Group also uses Allium's data for its research and advisory work on stablecoin payments and digital assets. Allium says government bodies and academic institutions, including the Federal Reserve and Stanford, have cited its data as well.
David Beyer of Amplify Partners says the opportunity now reaches well past companies that grew up inside the crypto industry.
"Onchain finance is reaching the point where infrastructure matters more than experimentation. That's what excites us about Allium: the company's opportunity is expanding well beyond crypto-native customers. As stablecoins, tokenized assets, and agentic commerce move into the financial mainstream, every institution operating onchain will need data infrastructure it can trust." — David Beyer, Amplify Partners
Allium plans to use the new money to keep building its team and its product lineup as more financial activity moves onto blockchain networks. The company is hiring across engineering, product, and go-to-market roles, according to its funding announcement, as it works to scale the infrastructure behind onchain finance.
Part of this growth is tied to the rise of AI systems that can act on their own, often called agentic systems. As these programs begin to use stablecoins to make purchases, settle transactions, and move funds across blockchains, Allium expects demand for trustworthy, finance-ready data to grow. The company sees this shift as a major reason its infrastructure is becoming more important. Software acting on its own will still need the same dependable data that human analysts and compliance teams depend on today.
CEO Ethan Chan describes the company's broader purpose in terms of trust. He frames it as something large financial systems have always needed in order to function.
"Every major financial workflow runs on a system of record. Whether it's Bloomberg for market data, DTCC for securities settlement, or SWIFT for payment messaging, these systems underpin how global finance operates. As finance moves onchain, there's still no shared, institutional-grade system of record, leaving institutions operating at scale without a reliable source of truth. We're building the foundation that brings institutional-grade reliability and standardization to onchain finance." — Ethan Chan, co-founder and CEO of Allium
Allium was founded in late 2021 by Ethan Chan and Cheng Han Lee. Both had spent their earlier careers building large-scale data systems before turning their attention to blockchain data specifically. Chan had led machine learning and analytics infrastructure work at Primer and studied computer science at Stanford. Lee had worked on payments and cloud systems at Meta and Poynt. The two saw that as money moved onto blockchain networks, the industry would need the same kind of standardized, trustworthy data systems that already existed in traditional finance.
In plain terms, Allium works like a translator. Blockchains record every transaction that happens on them, but that information arrives raw and inconsistent, a bit like a foreign language only a specialist could read. Allium collects this raw data from more than 150 blockchains, checks it for accuracy, and reorganizes it into a standardized format that banks, payment companies, and researchers can query and use. It delivers this through a product called Terminal, along with APIs and direct integrations with the data warehouses companies already rely on, so the information fits into existing workflows instead of staying stuck on a dashboard.
Since raising its Series A round, Allium says it has grown revenue more than tenfold. It now serves more than 150 enterprise customers across financial institutions, fintech companies, and government agencies. Beyond Visa and Boston Consulting Group, the company counts Stripe, Uniswap Foundation, and crypto wallet provider Phantom among the institutions that rely on it as a data partner.
Allium's Series B round was led by Amplify Partners, a venture firm that has backed the company since its earliest days. Returning investors Kleiner Perkins and Theory Ventures, both of which also took part in Allium's previous round, joined as well. The new investment brings Allium's total disclosed funding to more than $60 million.
The company's previous round was a $16.5 million Series A, led by Theory Ventures with participation from Kleiner Perkins and seed backer Amplify Partners. That round closed roughly two years before the Series B and brought Allium's total funding at the time to $21.5 million. Theory Ventures founder Tomasz Tunguz joined the board as part of that investment.
With this new round, Amplify Partners has moved from an early backer into the lead investor position. David Beyer is now joining Allium's board alongside Tunguz.
