NeoFi, or Neo Finance, describes financial products and protocols that operate on blockchain infrastructure while serving institutional or structured finance objectives. A product qualifies as NeoFi if it meets all three criteria: (1) on-chain execution — core mechanics settled on a public or permissioned blockchain, (2) real-world financial utility — serves a recognisable financial function such as lending, yield, credit, collateralisation, or asset management, and (3) institutional or structured design — incorporates compliance frameworks, identity verification, counterparty controls, or structured risk management.

What are the NeoFi qualifying criteria?

All three criteria must be met: (1) On-chain execution — core mechanics settled on a public or permissioned blockchain, not merely referenced by one. (2) Real-world financial utility — serves a recognisable financial function: lending, yield, credit, collateralisation, or asset management. (3) Institutional or structured design — incorporates compliance frameworks, identity verification, counterparty controls, or structured risk management.

What are examples of NeoFi protocols?

Examples of NeoFi protocols include Maple Finance (institutional USDC lending), Ondo Finance (tokenised US Treasuries), Morpho (institutional lending vaults), Centrifuge (real-world asset collateral), and Superstate (on-chain Treasury funds). Products like Uniswap (permissionless DEX), open Aave pools, and algorithmic stablecoins do not qualify.

What is the difference between NeoFi and DeFi?

NeoFi occupies the middle ground between DeFi and TradFi. While DeFi is fully permissionless and algorithmic, NeoFi products combine on-chain execution with institutional-grade controls — including KYC, compliance frameworks, and structured risk management. Unlike traditional finance (TradFi), NeoFi products settle on public or permissioned blockchains rather than centralised infrastructure.

Tracking the Emerging NeoFi Ecosystem

NeoFi

The home of Neo Finance, a new category operating at the intersection of blockchain infrastructure, institutional finance, and emerging financial technology.

Browse Protocols ↓ What is NeoFi?

Data as of 13 Apr 2026 · Not financial advice

Category TVL

$57.6B

Across all tracked protocols

Avg APY 7d

5.2%

Institutional-grade yield

Protocols indexed

Qualifying NeoFi products

Protocol Index

NeoFi Protocols

Financial products qualifying under the NeoFi criteria: on-chain execution, real-world financial utility, and institutional or structured design. Click any row to expand detail.

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Protocol	Category	Product / vault	APY 7d	TVL ↓	TVL Δ7d	Risk score	Access	Yield	Chain(s)

Risk scores provided by independent third-party assessment. Click any row to expand detail. Nothing on this platform constitutes financial advice.

Category Definition

What is NeoFi?

NeoFi, or Neo Finance, describes financial products and protocols that operate on blockchain infrastructure while serving institutional or structured finance objectives. These products sit at the emergent intersection of on-chain execution and real-world financial utility.

DeFi

◈ NeoFi

TradFi

Permissionless · Algorithmic Centralised · Regulated

All three of the following criteria required:

On-chain execution

Core mechanics settled on a public or permissioned blockchain such as stablecoin payments, use of tokenised assets, or on-chain settlement of financial instruments.

Real-world financial utility

Serves a recognisable financial function such as lending, yield, credit, collateralisation, or asset management for institutional or structured participants.

Institutional or structured design

Incorporates compliance frameworks, identity verification, counterparty controls, or structured risk management that distinguish it from purely permissionless protocols.

NeoFi is / is not

✓ Is NeoFi

Maple Finance: USDC loan pool
Ondo Finance: USDY T-bills
Morpho: Institutional vaults
Centrifuge: Use of RWA collateral
Superstate: On-chain funds

✕ Is not NeoFi

Permissionless DEX protocols (i.e. Curve Finance)
Banks (i.e. HSBC) with no blockchain rails
Traditional Fund Vehicles (i.e. ETFs, Capital Bonds etc.)
Algorithmic stablecoins (not pegged to underlying real-world asset)
Governance-only protocols

Meeting the Criteria

To qualify as NeoFi products must meet all three conditions: on-chain execution, real-world financial utility, and institutional or structured design. Explore the full protocol index to see how each product qualifies.

Browse the Protocol Index →

Ecosystem Map → Protocol Index →

Product Spotlight

Maple Finance — Institutional Credit

USDC Loan Pool

NeoFi

NeoFi Protocols

What is NeoFi?

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