If there’s one crypto leader whose dedication to bringing the global financial system on-chain has been unwavering since the outset, it’s Sergey Nazarov, co-founder of the decentralized oracle network Chainlink.
This piece is part of CoinDesk’s Most Influential 2025 list.
Since the formation of Chainlink Labs in 2017, separate from the Chainlink protocol, Nazarov has broadened the network’s purpose from being “just an oracle” for decentralized finance (DeFi) to a comprehensive suite of tools designed to supply nearly every aspect of on-chain finance—from tokenization and cross-chain connectivity to enterprise-level data infrastructure.
“Chainlink facilitated over $27 trillion in on-chain transaction value and accounts for over 70% of all DeFi, as well as more than 80% of leading chains like Ethereum. But the real milestone was demonstrating that advanced smart contracts can function effectively across diverse chains and real-world systems, reliably, at scale, and in actual operations,” Nazarov stated to CoinDesk.
Earlier this year, the 37-year-old entrepreneur described 2025 as the “final stage” of blockchain adoption, suggesting that governments, banks, and asset managers are starting to construct a global financial system based on the “Chainlink standard”: a framework for secure data, interoperability, and settlement across different chains.
As the year draws to a close, Nazarov’s prediction appears increasingly feasible. By 2025, Chainlink formed partnerships with top financial entities such as Swift, DTCC, and UBS, and even collaborated with the U.S. government to transition everything from macroeconomic data to real-world assets onto blockchains. Nazarov’s protocol has become the vital connective layer between the digital asset ecosystem and traditional finance, edging Chainlink closer to its “endgame.”
Looking ahead to the next year, Nazarov anticipates even further adoption by traditional financial institutions. “We’re approximately 30% of the way toward global on-chain adoption. By 2026, I expect that figure to rise significantly as institutions and DeFi finally coexist in a unified environment,” Nazarov remarked.
Unsurprisingly, Grayscale Research recently characterized Chainlink as the “essential infrastructure” for tokenized finance, highlighting that the protocol’s LINK—currently valued at nearly $10 billion—offers investors diversified exposure to crypto’s foundational layer.
In 2023, CoinDesk dubbed Nazarov the individual capable of effortlessly donning both a plaid shirt and a three-piece suit, symbolizing his role in connecting two different worlds. As we approach 2025, with Chainlink solidifying its status as the crucial “plumbing” for tokenized assets and cross-chain financial systems amid the convergence of these realms, this symbolism feels even more appropriate.
Sergey Nazarov will speak at CoinDesk’s upcoming Consensus 2026 conference in Miami next May.
