Enzyme
Enzyme provides institutional-grade blockchain infrastructure for issuing, administering, and trading tokenized funds and on-chain options. It serves asset managers, fund platforms, custodians, brokers, and family offices via white-label Vault-as-a-Service products (Onyx, Myso, Blue) deployed across EVM, Canton, and Rayls networks.
- Company typePrivate
- Founded2017
- HeadquartersZürich, Switzerland
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Enzyme does
Enzyme is a Zürich-headquartered (with UK operations via Avantgarde Finance Ltd) infrastructure provider for tokenized finance, founded in 2017 as Melon Protocol and rebranded to Enzyme in 2020. The platform enables institutions to issue, administer, and trade tokenized financial products — including tokenized hedge funds, money market funds, mutual funds, structured products, and on-chain options — through a suite of three core products: Enzyme Onyx (Vault-as-a-Service for fund issuance and administration), Enzyme Myso (on-chain covered calls and cash-secured puts), and Enzyme Blue (decentralized strategy management across 30+ DeFi protocols). The underlying technology is built on EVM-compatible chains and is being natively extended to the Canton Network and Rayls, with orchestration, valuation, and risk layers integrated via Chainlink (Runtime Environment, Proof of Reserve, Price Feeds) and Particula (RWA risk-intelligence framework).
The platform's modular architecture separates administrative functions (NAV reporting, compliance, investor onboarding, fee management) from execution layers, allowing white-label OEM embedding into customer platforms and integration with any custody or trading venue. Enzyme sells primarily to enterprise and institutional clients — asset managers, fund platforms, custodians, brokers, neobanks, family offices, and capital allocators (DAOs, foundations, treasuries) — via quote-based multi-year Onyx subscriptions, transaction and administration fees, and an SDK/API channel for developer-led integration. Distribution extends through channel partners such as exchanges and wallet providers, and through grant programs that allocate $MLN tokens to strategic builders. The company claims $7B+ in cumulative transaction volume, $200M+ in assets under technology, zero security breaches across 8+ years of operation, and time-to-launch of under 4 weeks from fund incorporation to execution. Compliance coverage spans MiFID, MiCA, AIFM, UCITS, SEC, and FCA frameworks.
Revenue is not publicly disclosed and the team is small (1-10 employees), consistent with an early-commercialization enterprise SaaS business. Recent strategic momentum is concentrated in 2025-2026 through partnerships with Chainlink, Particula, CV5 Capital, Canton Network, and Rayls — the latter two giving Enzyme direct distribution reach into Latin American banking infrastructure and into a Tier-1 institutional consortium respectively. Ownership remains private with a native $MLN token governance layer; no venture funding rounds are disclosed in the source data.
Enzyme firmographics
Firmographics- Name
- Enzyme
- Legal name
- Enzyme
- Website
- https://enzyme.finance
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Enzyme provides institutional-grade blockchain infrastructure for issuing, administering, and trading tokenized funds and on-chain options. It serves asset managers, fund platforms, custodians, brokers, and family offices via white-label Vault-as-a-Service products (Onyx, Myso, Blue) deployed across EVM, Canton, and Rayls networks.
- Ownership category
- akta.pro rank
Enzyme industry classification
Industry- Product category
- Tokenized Finance Infrastructure
- NAICS
- Open-End Investment Funds (525910), Funds, Trusts, and Other Financial Vehicles (525), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Asset-Backed Securities (6189)
- akta.pro primary industry
- Tokenization Platforms (RWA, Securities, Funds) (FSAGAMAA)
- akta.pro secondary industries
- Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ), Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned) (FSAPAIAL), Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)
Keywords
Where Enzyme is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices1 record
Markets served
Enzyme business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Vault-as-a-Service Platform Licensing: Enzyme provides white-label Vault-as-a-Service infrastructure enabling enterprises to issue and administer tokenized funds and financial instruments. Revenue derived from platform licensing and technology fees associated with fund deployment, administration, and management.
- Transaction and Administration Fees: Fees associated with fund operations including subscriptions, redemptions, NAV reporting, fee management, and investor onboarding within the Onyx platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enzyme Onyx Vault-as-a-Service pricing is enterprise quote-based |
| Freemium | Annual | Grant Program for builders and managers |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Enzyme product offering
Product offeringCore offering
Enzyme provides blockchain-based institutional infrastructure for tokenized finance. Its core products include Enzyme Onyx (Vault-as-a-Service for issuing and administering tokenized funds), Enzyme Myso (on-chain covered calls and cash-secured puts protocol), and Enzyme Blue (decentralized strategy management platform interacting with 30+ protocols and hundreds of assets). The platform operates natively across EVM-compatible chains, Canton Network, and Rayls.
Product overview
Enzyme is a platform-plus-modules architecture providing global infrastructure for tokenized finance. The core offering consists of three main products: Enzyme Onyx (Vault as a Service for issuing and administering tokenized funds and instruments), Enzyme Myso (protocol for on-chain covered calls and cash-secured puts), and Enzyme Blue (end-to-end platform for decentralized strategy management). These products share the underlying Enzyme Vaults infrastructure and are available natively on both EVM-compatible chains and institutional networks like Canton and Rayls. Additional services include Distribution, Seeding and Investment, Advisory and Development, and Curation and Management support.
Differentiator
Problem solved
Functional benefit
Brands
- Enzyme Onyx: The complete technical stack for issuing, structuring, and administering tokenized funds and financial instruments. Provides institutional-grade infrastructure covering the full lifecycle of a tokenized vehicle including accounting, subscriptions, redemptions, NAV reporting, fee management, and investor onboarding.
- Enzyme Myso
- Enzyme Blue
Products and services
- Enzyme Onyx Complete technical stack for issuing, structuring, and administering tokenized funds and financial instruments. Provides institutional-grade infrastructure covering the full lifecycle of tokenized vehicles including accounting, subscriptions, redemptions, NAV reporting, fee management, and investor onboarding, delivered in a white-label environment for fund platforms, custodians, brokers, and asset managers.
- Enzyme Myso Premier protocol for creating, trading, and managing fully customizable on-chain options strategies. Enables issuers and trading firms to create and sell bespoke covered calls and cash-secured puts with non-custodial settlement through automated marketplace or OTC. Configurable parameters include strike prices, expiries, auction mechanics, and premium structures.
- Enzyme Blue End-to-end platform for decentralized strategy management. Interacts with 30+ DeFi protocols and hundreds of assets in one unified environment, with built-in analytics, delegation controls, and automation for managing tokenized and crypto strategies.
- Enzyme Vaults Core vault infrastructure supporting all Enzyme products. Enzyme Vaults support all types of cryptocurrencies, real-world assets (RWA), and tokenized assets with protocol compatibility for seamless integration with leading DeFi protocols.
Quantifiable outcome
- $7B+ total transaction volume processed through the Enzyme protocol infrastructure
- +5 more outcomes
Companies that use Enzyme
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles4 records
Enzyme technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature8 records
Enzyme partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, strategic and minor.
- RaylscoreEnzyme joined Rayls as a launch partner, deploying Enzyme Onyx and Enzyme Myso natively on the Rayls network. Rayls is an EVM-compatible Layer 1 blockchain for financial institutions combining compliant public chain with private institutional nodes. Rayls selected by Central Bank of Brazil for Drex wholesale CBDC pilot and installed within 16 of the largest banks in the region.
- ParticulacoreStrategic product partnership integrating Enzyme Onyx with Particula's RWA risk-intelligence framework. Enables asset managers and product issuers to design, launch, and scale tokenized investment products with embedded independent risk ratings across structural design, counterparty risk, and underlying asset quality. Creates unified environment for risk-rated tokenized products on-chain.
- CV5 CapitalstrategicStrategic partnership with CV5 Capital, a leading regulated platform for launching institutional-grade hedge funds and digital asset funds in the Cayman Islands. CV5 will power new generation of regulated funds using Enzyme Onyx infrastructure.
- ChainlinkcoreEnzyme is integrating the Chainlink Runtime Environment (CRE), an orchestration layer for institutional-grade smart contract operations. CRE enables seamless administration of complex tokenized financial products across traditional and decentralized ecosystems, streamlining valuation and reporting across networks and data sources. Joint webinar hosted by Enzyme and Chainlink.
- Canton NetworkcoreEnzyme Onyx and Enzyme Myso are being ported natively to the Canton Network. Canton is an institutional blockchain network launched by consortium including BNP Paribas, Goldman Sachs, Deutsche Börse, CBOE, and Moody's in 2023. Enzyme's expansion to Canton expected in early Q3 2026.
- PassifstrategicPassif, a digital asset investment manager, built the Passif Alpha Fund — a tokenized hedge fund — on Enzyme Onyx. Fund engineered to preserve capital while enabling daily liquidity and real-time investor visibility into strategy activity.
- SwissborgminorEnzyme facilitated Stader Labs' Hyperloop distribution through Swissborg, demonstrating Enzyme's distribution network connecting Vault products with exchanges, wallet providers, and dApps.
- Chainlink LabsstrategicChainlink Labs collaborated with Enzyme and Nexus Mutual to integrate Chainlink Proof of Reserve into Nexus Mutual's Enzyme Vault, enabling accurate valuation of ETH staking platform assets within the vault for NXMTY token pricing.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Enzyme competitors and assessment
Company assessmentDirect peers
- Tokeny: Tokeny is an institutional-grade tokenization platform offering white-label infrastructure for issuing, managing, and transferring tokenized securities. Closely comparable to Enzyme Onyx in target customer (fund issuers, asset managers) and EU regulatory focus (MiCA, MiFID).
- Lyra: Lyra is a leading on-chain options protocol for trading covered calls and cash-secured puts with automated market-making. Direct peer to Enzyme Myso, offering the same non-custodial options primitives to institutional and DeFi users.
- Centrifuge: Centrifuge provides infrastructure for tokenizing real-world assets (invoices, receivables, real estate) and connecting them to DeFi liquidity via the Tinlake protocol. Comparable to Enzyme Onyx's RWA tokenization use case with similar modular architecture for asset managers and issuers.
- Maple Finance: Maple Finance is an institutional on-chain credit marketplace with white-label lending infrastructure and fund administration capabilities. Comparable to Enzyme Onyx for tokenized private credit and structured fund vehicles, with a strong institutional lender base.
- Securitize: Securitize is a leading RWA and security token issuance platform with white-label fund issuance, transfer agent services, and institutional integrations. Directly comparable to Enzyme Onyx's Vault-as-a-Service for tokenized fund issuance, with a stronger focus on regulated US securities.
- Polymath: Polymath is one of the original security token platforms providing issuance, compliance, and identity infrastructure for tokenized securities. Comparable to Enzyme Onyx's compliance-ready tokenization focus, with a longer history but slower recent product velocity.
Emerging players
- Backed Finance: Backed Finance issues tokenized securities tracking real-world assets (equities, bonds, ETFs) on public chains with full regulatory wrappers. Comparable to Enzyme Onyx for tokenized securities issuance, particularly for EU-distributed structured products.
- OpenEden: OpenEden is a regulated tokenized T-bills and money market platform focused on bringing US Treasury exposure on-chain. Comparable to Enzyme Onyx's tokenized treasury and money market fund use cases, but more narrowly focused on yield-bearing RWA.
- Archax: Archax is a FCA-regulated digital asset exchange, broker, and custodian in the UK offering end-to-end infrastructure for tokenized securities. Comparable to Enzyme Onyx as an institutional tokenization platform with strong UK regulatory positioning, though Archax operates its own exchange and custody.
Broad incumbents
- Ondo Finance: Ondo Finance provides tokenized US Treasuries, money market funds, and structured yield products with institutional-grade infrastructure. Comparable to Enzyme Onyx for tokenized RWA / treasury products but operates more as an issuer than a white-label infrastructure provider.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Enzyme social profiles
Digital presenceEnzyme compliance and trust
Trust signalCompliance8 records
Enzyme financial estimates
Financial estimateRevenue estimate
Valuation estimate
Enzyme leadership team
Management profileNumber of profiles
Profiles1 record
Enzyme funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Enzyme M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Enzyme
What does Enzyme do?
Enzyme provides blockchain-based institutional infrastructure for tokenized finance. Its core products include Enzyme Onyx (Vault-as-a-Service for issuing and administering tokenized funds), Enzyme Myso (on-chain covered calls and cash-secured puts protocol), and Enzyme Blue (decentralized strategy management platform interacting with 30+ protocols and hundreds of assets). The platform operates natively across EVM-compatible chains, Canton Network, and Rayls.
Is Enzyme a public or private company?
Enzyme is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Enzyme founded?
Enzyme was founded in 2017. It employs 1 to 10 people.
Where is Enzyme based?
Enzyme is headquartered in Zürich, Switzerland, in the Europe region.
How does Enzyme make money?
Two revenue lines are on record. Vault-as-a-Service Platform Licensing is the primary driver. The others are transaction and Administration Fees.
Who are Enzyme's main competitors?
Direct peers on record are Tokeny, Lyra, Centrifuge, Maple Finance, Securitize and Polymath. Emerging players are Backed Finance, OpenEden and Archax. Ondo Finance is listed as a broad incumbent.
Does Enzyme have an API?
Yes. Enzyme offers APIs and SDKs for developers to build on its platform. The developer hub provides documentation for integration purposes. The platform supports white-label integration with customizable page and domain name, white-label front-end integration, and 1-click deposit functionality. Developer documentation is at docs.enzyme.finance.
What industry is Enzyme in?
Enzyme's product category is Tokenized Finance Infrastructure. Its primary akta.pro industry code is FSAGAMAA, Tokenization Platforms (RWA, Securities, Funds), with a secondary code of FSAPAEAJ, Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management). Its NAICS code is 525910 and its SIC code is 6200.