Nearly half of decentralized finance (DeFi) or Open Finance (OFI) startups tracked by The Block are headquartered in the U.S.
Out of the total 73 OFI firms in our database, nearly 50% are based in the U.S., followed by the U.K. and Germany, according to recent findings published by The Block’s Steven Zheng.
When looking at the legal domiciles of these firms, the percentages change up a bit. The U.S.-based share of the pie shrinks from nearly 50% to 44%.
Through that lens, Singapore, Switzerland, Cayman Island and the British Virgin Islands take a larger share of the pie. Twenty-one percent of firms in The Block's data set have different legal domains and headquarters.
Notably, 2017 was the most popular year for OFI firm launches. Over 57% of firms in The Block's data set were founded that year.