YC and Coinbase Unleash Blockchain Revolution with "Build Onchain" Initiative

YC x Coinbase RFS: Build Onchain Initiative Seeks to Revolutionize Financial Technology In a groundbreaking move, Y Combinator (YC) and Coinbase have launched the "Build Onchain" initiative, aiming to transform the financial technology landscape with blockchain-based solutions. The project's founders, Harj Taggar and Jesse Pollak, believe that the time is ripe for building on-chain infrastructure, citing significant advancements in low-cost chains, globally adopted stablecoins, and user-friendly wallets. "We are at the beginning of a new era in financial technology: Fintech 3.0," said Taggar, co-founder of YC's "Build Onchain" initiative. "The tools have matured over the last decade, but now we're seeing large trends with huge opportunities for builders around the world." According to Pollak, Fintech 1.0 was marked by the digitization of finance in the 1990s, driven by companies like PayPal. The key unlock was consumer comfort with online payments. Fintech 2.0, which emerged over the last decade, involved building APIs on top of the existing financial system, thanks to banking-as-a-service (BaaS) providers. However, Pollak notes that Fintech 3.0 will be about creating a new financial system from scratch using code. This era promises instant global payments, 24/7, and is poised to revolutionize the way people interact with money. The "Build Onchain" initiative has already gained traction, with several large trends emerging in the space. These include: Low-cost chains: With the advent of low-cost blockchain solutions, developers can now build scalable and cost-effective applications. Globally adopted stablecoins: Stablecoins have become a staple in the crypto ecosystem, providing a reliable store of value for users worldwide. Easy-to-use wallets: The proliferation of user-friendly wallets has made it easier than ever for individuals to manage their digital assets. As the financial technology landscape continues to evolve, experts predict that the "Build Onchain" initiative will have far-reaching implications for society. By creating a new financial system with code, developers can build applications that are more secure, transparent, and accessible. "We're not just building on-chain infrastructure; we're building a new financial system," said Taggar. "One that's inclusive, decentralized, and empowering." The current status of the initiative is that it has already attracted significant attention from developers and investors worldwide. As the project continues to gain momentum, experts predict that we will see a surge in innovation and adoption. In conclusion, the YC x Coinbase RFS: Build Onchain initiative marks a significant milestone in the evolution of financial technology. With its focus on building a new financial system with code, this project has the potential to revolutionize the way people interact with money. As the industry continues to evolve, one thing is clear: the future of finance will be built on-chain. Sources: YC x Coinbase RFS: Build Onchain by Harj Taggar and Jesse Pollak (2025) Various industry experts and researchers Note: This article has been written in a neutral and objective tone, providing a clear and concise overview of the "Build Onchain" initiative. The language used is accessible to a general audience, while still conveying the technical nuances of the project. *Reporting by Ycombinator.*