For Visa, tracking stablecoin flows is a data engineering problem. The payments giant needs to see every mint, burn, and transfer across a dozen blockchains, reconcile it against fiat reserves, and deliver that data in a format its internal audit teams can trust. In 2024, it turned to a two-year-old startup, Allium, to build the system of record.
That deal, and a similar one with Coinbase, underscores the bet driving Allium. The New York-based company is selling enterprise-grade blockchain data infrastructure, managed databases, APIs, and real-time alerting, to institutions that cannot afford errors or gaps. Its wedge is not another blockchain explorer, but a SOC 1 and SOC 2 certified pipeline that transforms raw, chaotic on-chain data into something a CFO can sign off on.
The audit-grade data wedge
Allium’s core product is a normalized data layer that sits atop dozens of blockchains. It ingests petabytes of raw chain data daily, according to a Tech in Asia feature, and transforms it into clean, queryable schemas [Tech in Asia]. The platform supports over 100 data schemas for different protocols and financial use cases, from simple token transfers to complex DeFi liquidity events [Crunchbase].
For buyers, the value is in the transformation. Raw blockchain data is notoriously messy; transactions are encoded, smart contract logic is opaque, and standards vary chain-to-chain. Allium’s engineers map this into standardized tables with clear fields like sender, receiver, amount, and asset_type. The output is served via SQL-compatible APIs or through a web interface called Allium Explorer [Wellesley Hills Financial, July 2024].
- Compliance-ready pipelines. The platform is SOC 1 (Type I & II) and SOC 2 (Type I & II) certified, a non-negotiable for regulated financial clients [allium.so].
- Cross-chain coverage. Allium claims to cover 150+ blockchains and 1,000+ protocols, a scope that expanded with 17 new chains, including Bitcoin Cash and Litecoin, added in May 2025 [allium.so, 2025].
- Financial modeling. The company analyzes over $300 billion in labeled payment volume, providing the granularity needed for treasury management and risk assessment [allium.so].
Why Kleiner Perkins and Theory Ventures wrote the check
Allium closed a $16.5 million funding round in 2024, bringing its total disclosed funding to $21.5 million. Theory Ventures led the round, with participation from Kleiner Perkins and Amplify Partners [getlatka.com].
The investor logic tracks a clear market shift. As traditional finance firms and large tech companies engage with crypto assets, they hit a data wall. Building internal infrastructure to index, normalize, and maintain dozens of blockchains is a massive capital and engineering drain. Allium offers a managed service that abstracts that complexity, competing on reliability and audit trails rather than just data breadth.
| Metric | Value |
|---|---|
| 2024 Series A | $16.5M |
| Total Disclosed Funding | $21.5M |
The team behind the pipes
Co-founders Ethan Chan (CEO) and Cheng Han Lee (CTO) launched Allium in late 2021 [jobs.ashbyhq.com/allium]. Chan’s background is in AI, ML, and data infrastructure, previously serving as Director of Engineering at fintech startup Primer [The Org]. Lee also has an AI engineering background and was a staff software engineer at Poynt [The Org]. Their public record shows a focus on large-scale data systems, a relevant pedigree for the plumbing Allium is selling.
Where the wheels could come off
The space for blockchain data is crowded and competitive. Allium lists direct competitors like Goldsky and Amberdata, and adjacent giants like Chainalysis and TRM Labs. Its differentiation rests on depth and compliance for financial use cases, but that is a niche others can target.
Finally, the reliance on named enterprise logos like Visa, Coinbase, and Uniswap Foundation is powerful, but the depth of those relationships is self-reported [Coindesk, 2024]. The renewal motion at seven-figure annual contract values remains unproven.
The next twelve months
Allium’s trajectory will be measured in enterprise logo acquisitions and product depth. The company is likely to raise a Series B within the next 12 to 18 months to fund further expansion and outpace competitors in building chain-specific data models.
Key milestones to watch include a formal announcement of the Visa partnership depth, a move into more adjacent regulated verticals like insurance and tax accounting, and whether it can convert early design wins into expanded footprints within those accounts. The $21.5 million war chest from Kleiner Perkins and Theory Ventures buys runway, but in infrastructure, the race often goes to the platform that ingrains itself deepest into the customer’s core financial workflows.