Five Bells
Five Bells provides institutional digital asset post-trade infrastructure, offering automated trade clearing across 200+ tokens and Bitcoin-native Delivery versus Payment settlement via Taproot FROST contracts for financial institutions, trading firms, and exchanges.
- Company typePrivate
- Founded2024
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Five Bells does
Five Bells is a digital asset post-trade infrastructure provider serving institutional market participants, including financial institutions, trading firms, and crypto exchanges. Founded in 2024 by former NYDIG and Two Sigma executives Anthony Magliacca and Brian Langel, the company is headquartered in Hastings-on-Hudson, New York, and operates as Five Bells Settlement Corp. Its platform addresses fragmented and manual post-trade operations by replacing email- and spreadsheet-based trade reconciliation with automated bilateral trade matching, confirmation, and clearing workflows covering over 200 digital assets across spot and derivatives markets.
Five Bells firmographics
Firmographics- Name
- Five Bells
- Legal name
- Five Bells Settlement Corp.
- Website
- https://fivebells.io
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Five Bells provides institutional digital asset post-trade infrastructure, offering automated trade clearing across 200+ tokens and Bitcoin-native Delivery versus Payment settlement via Taproot FROST contracts for financial institutions, trading firms, and exchanges.
- Ownership category
- akta.pro rank
Five Bells industry classification
Industry- Product category
- Digital Asset Post-Trade Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Blockchain Settlement & Clearing Infrastructure (On-/Off-chain Post-Trade) (FSAGAMAC)
- akta.pro secondary industries
- Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade) (FSAPAIAI), Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance) (FSAPAJAI), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF)
Keywords
Where Five Bells is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Five Bells business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Post-Trade Infrastructure Software: SaaS-style platform fees for trade confirmation, clearing workflows, settlement coordination, and risk-mitigating processes across digital asset markets. The platform supports over 200 digital assets across spot and derivatives markets.
- Bitcoin Settlement Services: Transaction-based settlement services enabling institutional-grade Bitcoin settlement with DvP capabilities, reducing operational and counterparty risk for large Bitcoin transactions.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Five Bells product offering
Product offeringCore offering
Five Bells operates a blockchain-based settlement and clearing platform for digital assets. The platform provides Bitcoin-native Delivery-versus-Payment (DvP) settlement, automated trade matching, clearing workflows, and on-chain escrow for institutional counterparties trading digital assets, alongside a Sandbox for testing and an AI Settlement Agent module for automated post-trade verification.
Product overview
Five Bells is a modular digital asset post-trade infrastructure platform comprising four integrated products: Clearing (trade matching, compression, and bilateral confirmation for over 200 digital assets), Settlement (Bitcoin-native DvP settlement layer with on-chain escrow and 24/7 availability), Sandbox (testing environment using Bitcoin Signet with Plaid bank integration), and AI Settlement (Agent) (on-chain escrow tied to verifiable real-world events for AI agent payments with pre-built modules for USD wires, GitHub, API subscriptions, and compute). The platform is custodially agnostic and designed for institutional counterparties to reduce operational and counterparty risk.
Differentiator
Problem solved
Functional benefit
Products and services
- Clearing
Quantifiable outcome
- Reduces counterparty risk and settlement costs for large Bitcoin transactions
- +3 more outcomes
Companies that use Five Bells
Customer profileSegments1 record
Ideal customer profiles1 record
Five Bells technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Feature6 records
Five Bells partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- N3XTcoreFive Bells is partnered with N3XT as a launch partner for the N3XT Digital Dollar (NDD), a bank-issued tokenized deposit enabling real-time U.S. dollar settlement on blockchain. The partnership positions Five Bells as part of the institutional adoption ecosystem for tokenized dollar settlement, demonstrating adoption across institutional workflows alongside other crypto and financial companies.
Scale indicators2 records
Recent moves4 records
Expansion highlights5 records
Five Bells competitors and assessment
Company assessmentBroad incumbents
- NYDIG: Institutional Bitcoin services platform covering custody, execution, and treasury. Notable as the former employer of Five Bells' founders, providing direct institutional relationships and serving as both a credible reference and a potential competitor.
- Galaxy Digital: Institutional digital asset services spanning trading, asset management, and Bitcoin mining/infrastructure. Comparable on institutional crypto services broadly, though Galaxy is a diversified incumbent rather than a post-trade pure-play.
- Fidelity Digital Assets: Institutional Bitcoin and digital asset custody and execution services from Fidelity. Comparable as a credible institutional counterparty for digital asset post-trade, though operated as part of a much larger diversified financial services franchise.
- Coinbase Prime: Institutional crypto trading, custody, and financing platform. Comparable as a vertically integrated institutional infrastructure provider with overlapping post-trade functionality, but with significantly broader product scope and scale.
Emerging players
- Fnality: Wholesale CBDC settlement network using DLT for interbank settlement of tokenized commercial bank money. Comparable on the wholesale digital asset settlement infrastructure thesis, though Fnality operates at the central bank/clearing-bank tier rather than serving crypto-native counterparties.
- BlockFills: Institutional digital asset trading and settlement platform with OTC and electronic liquidity. Comparable as a mid-stage institutional infrastructure competitor offering settlement alongside trading, with a comparable scale trajectory to where Five Bells is heading.
- HQLAx: DLT-based platform for collateral mobility and settlement using a unified ledger across custodians. Comparable as an emerging DLT settlement infrastructure player, with similar custody-agnostic architectural principles.
Direct peers
- Fireblocks: Institutional digital asset custody, settlement, and transfer infrastructure serving exchanges, trading firms, and banks. Directly comparable as it provides settlement coordination for institutional counterparties, though it bundles custody whereas Five Bells is custody-agnostic.
- BitGo: Institutional digital asset custody and settlement provider with qualified custody and post-trade services. Comparable as a provider of institutional Bitcoin and multi-asset settlement infrastructure, though with substantially larger scale and bundled custody.
- Talos: Institutional digital asset trading infrastructure providing order and execution management, settlement, and portfolio tools to institutional counterparties. Directly comparable on the institutional post-trade infrastructure layer for digital assets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Five Bells social profiles
Digital presenceFive Bells financial estimates
Financial estimateRevenue estimate
Valuation estimate
Five Bells leadership team
Management profileNumber of profiles
Profiles2 records
Five Bells funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Five Bells M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Five Bells
What does Five Bells do?
Five Bells operates a blockchain-based settlement and clearing platform for digital assets. The platform provides Bitcoin-native Delivery-versus-Payment (DvP) settlement, automated trade matching, clearing workflows, and on-chain escrow for institutional counterparties trading digital assets, alongside a Sandbox for testing and an AI Settlement Agent module for automated post-trade verification.
Is Five Bells a public or private company?
Five Bells is a private company. It is classified as venture growth investor backed and is currently operating.
When was Five Bells founded?
Five Bells was founded in 2024. It employs 1 to 10 people.
Where is Five Bells based?
Five Bells is headquartered in New York, United States, in the North America region.
How does Five Bells make money?
Two revenue lines are on record. Post-Trade Infrastructure Software is the primary driver. The others are bitcoin Settlement Services.
Who are Five Bells's main competitors?
Broad incumbents on record are NYDIG, Galaxy Digital, Fidelity Digital Assets and Coinbase Prime. Emerging players are Fnality, BlockFills and HQLAx. Direct peers are Fireblocks, BitGo and Talos.
Does Five Bells have an API?
No public API is recorded for Five Bells.
What industry is Five Bells in?
Five Bells's product category is Digital Asset Post-Trade Infrastructure. Its primary akta.pro industry code is FSAGAMAC, Blockchain Settlement & Clearing Infrastructure (On-/Off-chain Post-Trade), with a secondary code of FSAPAIAI, Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade). Its NAICS code is 522320 and its SIC code is 6200.