2025 marked a defining chapter for Enzyme. What began as a protocol enabling onchain asset management has continued its evolution into a global infrastructure for tokenized finance, designed to support the full lifecycle of institutional-grade funds and financial instruments.

This year was not about incremental improvements. It was about setting direction: clarifying Enzyme’s role in the financial stack, expanding our product surface, and proving — through live deployments — that tokenized finance can move from experimentation to durable, scalable production.

As we close the year, this article looks back at the milestones that shaped this transition, and how they position Enzyme for what comes next in 2026.

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A Strategic Shift: Enzyme as Global Financial Infrastructure

In 2025, Enzyme sharpened its strategic focus: moving beyond a single product toward a modular, composable infrastructure layer capable of enabling a wide range of tokenized financial products.

This shift reflects a broader market reality. Financial institutions, asset managers, and product issuers are no longer asking if tokenization will play a role in their operations, but how it can be implemented in a way that meets real-world requirements, across compliance, administration, execution, and interoperability.

Enzyme’s infrastructure is designed to operate at that intersection:

• Onchain by default, without sacrificing institutional controls
• Flexible enough to enable the creation of diverse product designs and strategies
• Built to integrate with existing systems, custodians, and workflows

Rather than positioning tokenization as a niche alternative, Enzyme has continued to focus on making it a foundational layer for modern financial products.

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The Launch of Enzyme Onyx

Onyx is a modular tokenization and administration stack that enables managers and issuers to design, deploy, and operate tokenized investment vehicles directly onchain. It brings together strategy execution, product logic, and administrative controls into a unified framework, without forcing teams into rigid structures or bespoke development.

Onyx is not a single product type. It is a foundation on which funds, structured products, and other financial instruments can be built and operated with precision.

Since launch, more than 15 managers are already using Onyx in production or active deployment phases. This early adoption validates both the demand for such infrastructure and Enzyme’s approach to building it.

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Making tokenized products administration seamless with Chainlink Runtime Environment

CRE is an all-in-one orchestration layer that enables institutional-grade smart contracts to interoperate effortlessly with blockchains, APIs, and traditional financial systems. It brings data, compliance, privacy, and operational integrity to environments where multiple systems need to communicate reliably.

As demand grows for funds and financial instruments deployed on-chain with exposure to real-world assets, multi-chain portfolios, and hybrid strategies, the need for accurate and compliant reporting becomes essential. The integration of CRE will support Onyx users by streamlining valuation and reporting processes across networks, systems, and data sources in a unified and scalable manner.

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Strengthening Standards with Particula

Enzyme and Particula announced a strategic partnership to elevate industry standards for risk-rated on-chain RWAs, enabling asset managers and product issuers to efficiently launch risk-rated tokenized investment products and unlock broader institutional distribution across the on-chain economy.

At the core of the collaboration is the integration of Enzyme’s Onyx solution with Particula’s RWA risk‑intelligence framework. Enzyme Onyx provides a technology stack for issuing and administering tokenized funds and instruments, including ETPs and structured notes. Particula applies its rules-based methodology to deliver independent risk ratings and ongoing monitoring across structural design, counterparty risk, underlying asset quality, and other key risk factors.Together, the integration creates a unified environment enabling issuers to design, launch, and scale tokenized products with embedded risk assessment capabilities from inception.

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Expanding the Operational Surface with Octav

This year also marked a deeper integration of Octav into Enzyme Onyx. The collaboration enables asset managers using Onyx to automatically reconcile positions and consolidate gross asset value across chains. As strategies increasingly span multiple networks, having a single, reliable view of portfolio exposure becomes essential. With Octav, managers can operate multi-chain strategies while maintaining clear, accurate, and automated oversight of their assets.

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Hedgeweek Blockchain Technology of the Year

Enzyme’s progress in 2025 was also recognized externally, with Enzyme being awarded Hedgeweek’s Blockchain Technology of the Year.

This recognition reflects not a single product launch, but a sustained effort to deliver infrastructure that meets the expectations of professional market participants, bridging the gap between traditional financial standards and onchain innovation.

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Looking Ahead to 2026

If 2025 was about execution and proof, 2026 will be about scale.

With a global infrastructure in place, a growing base of live products, and deeper integrations across the tokenization stack, Enzyme enters the new year focused on:

• Expanding adoption among institutional issuers and managers
• Continuing to raise the standard for onchain financial products
• Supporting more complex, regulated, and cross-chain use cases

Tokenized finance is no longer a future concept. It is an active, evolving market and Enzyme is building the infrastructure to support it for the long term.

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