A wave of major financial and technology firms has begun building products directly on Ethereum, pushing blockchain use into mainstream finance.
In recent months, 35 large institutions have launched services on the network, according to Ethereum’s official account.
These firms include BlackRock (NYSE: BLK), JPMorgan (NYSE: JPM), and Fidelity Investments. Their efforts focus on tokenizing real-world assets like stocks, funds, and deposits. As a result, Ethereum is moving beyond speculative trading toward core financial plumbing.
The activity suggests institutions now view public blockchains as usable settlement rails. Additionally, many of these products operate under existing regulatory frameworks. That shift makes blockchain tools easier for traditional investors to understand.
Kraken, for example, launched xStocks on Ethereum for eligible clients. The service lets users move fully collateralized U.S. equities on-chain. Meanwhile, Ondo Finance released access to more than 100 tokenized U.S. stocks and ETFs. Those tokens mirror real securities held off-chain.
Asset managers have followed a similar path. Fidelity introduced a tokenized money market fund, called FDIT, on Ethereum. Additionally, China Asset Management’s Hong Kong unit launched a tokenized U.S. dollar money market fund. It marked one of the first such products from a major Chinese manager. In Europe, asset manager Amundi (EPA: AMUN) rolled out a tokenized share class of a euro money market fund.
Banks have also expanded their presence on public rails. JPMorgan moved its JPM Coin deposit token from an internal system to Base. Base operates as a Layer 2 network built on Ethereum. Subsequently, the bank launched a tokenized money market fund on Ethereum. It seeded that fund with USD$100 million of its own capital.
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Multiple companies have adopted Ethereum
Furthermore, Societe Generale (EPA: GLE) FORGE deployed euro and dollar products through Ethereum-based DeFi tools. Payment and fintech firms joined the trend.
Stripe expanded stablecoin subscriptions using USDC on Ethereum. Additionally, SoFi (NASDAQ: SOFI) issued SoFiUSD on a public blockchain. The move made it the first U.S. national retail bank to do so. Meanwhile, Alphabet (NASDAQ: GOOGL), through Google, announced a stablecoin payments protocol. It built the system with partners including the Ethereum Foundation and Coinbase Global (NASDAQ: COIN).
On-chain metrics have risen alongside institutional adoption. Ethereum staking climbed past 30 per cent of supply this month. About 36.2 million ETH now sit locked, based on Ultrasound Money data.
Additionally, wallet creation reached a single-day record on January 11. However, Ethereum co-founder Vitalik Buterin raised concerns about complexity. He warned that layered features could weaken security and user independence over time. Consequently, he urged developers to keep the base protocol simpler.
The recent launches show Ethereum and its Layer 2 networks serving as live testing grounds. Additionally, they reveal ongoing debates over governance as adoption accelerates.
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