The Future of Fintech Is on the Blockchain
In a bold prediction that’s quickly gaining traction, OP Labs’ Head of Product, Sam McIngvale, says the next wave of fintech innovation will be driven by custom-built blockchains. Speaking about the future of decentralized finance (DeFi), McIngvale believes that within five years, nearly every major crypto exchange and fintech platform will operate its own blockchain.
The idea might sound ambitious, but it’s grounded in real-world success—namely, the explosive rise of Base, a Layer-2 (L2) blockchain launched by Coinbase in 2023.
How Base Became the Blueprint for Blockchain-Driven Fintech
According to McIngvale, Base has become a template for how exchanges and platforms can benefit from launching their own L2 networks. Built on OP Stack, a development framework by Optimism, Base offers faster and cheaper Ethereum-compatible transactions while supporting an expanding ecosystem of DeFi apps.
Base didn’t just enhance Coinbase’s infrastructure—it unlocked new ways to monetize idle crypto assets. For example, users can now move their Bitcoin from Coinbase to Base in one click and borrow USDC using it as collateral. That borrowed USDC can then be used anywhere in the DeFi world.
It’s a powerful model—and one that other major players are now eager to follow.
Why Everyone Wants Their Own Blockchain
The appeal is straightforward: custom Layer-2 chains help exchanges and fintechs lower transaction fees, improve user experience, and keep users within their ecosystem. And with the help of frameworks like OP Stack, launching a blockchain has never been easier.
Following Base’s lead, companies like Kraken (with its new network Ink), Bybit, Bitget, and OKX are already building or exploring their own L2 networks. Fintech disruptors like Robinhood are also reportedly interested in integrating Ethereum-based blockchains into their services.
According to McIngvale, what we’re seeing is the rise of a modular blockchain supernetwork, where moving between chains is as simple as navigating from one website to another.
Optimistic Rollups and a New Era of UX
Optimism and its biggest rival, Arbitrum, both use optimistic rollups—an approach that assumes transactions are valid by default and only checked if challenged. This reduces pressure on the Ethereum mainnet while maintaining security. An alternative is zero-knowledge proofs, a cryptographic method used in other rollups to verify off-chain transactions.
What matters most is that blockchains are becoming more usable. McIngvale admits that early adopters were willing to tolerate long waits and high fees, much like people did during the early days of the internet. But expectations have changed—and platforms are racing to meet them.
Conclusion: A Blockchain for Every Brand?
McIngvale’s vision is becoming reality. Blockchain-powered ecosystems are no longer niche—they’re the future of fintech. As infrastructure becomes more accessible and profitable, it’s only a matter of time before every fintech firm and exchange builds its own chain.
Optimism’s vision of a seamlessly connected Superchain could very well become the standard for Web3—redefining how we interact with financial services in the process.
