Benedetto Biondi
Benedetto Biondi is the CEO of Folks Finance, a DeFi platform that began on Algorand and has evolved into a cross-chain protocol for lending, borrowing, staking, and trading.[1][2] As CEO, Biondi has overseen the launch of cross-chain lending markets and the xALGO liquid staking token, the adoption of interoperability tools such as Wormhole, and growth to around $400 million in total value locked in November 2024, representing over 75% of Algorand’s DeFi TVL, alongside a funding round led by Borderless Capital.[8][9][10]
Education
Biondi attended Politecnico di Milano, receiving his Bachelor’s in Mechanical Engineering in 2018. He then earned his Master of Science in Engineering Innovation and Management from Cardiff University in 2020.[2]
Career
Mechanical Design Engineer
Benedetto Biondi started his professional career at Pirovano Engineering Srl in Milan, Italy, where he worked as a Mechanical Design Engineer through an internship from February to June 2018, which served as the basis for later work with blockchain.
Innovation Manager at Blockchain Italia
Biondi moved into the blockchain industry in 2018, joining Blockchain Italia as an Innovation Manager. According to the provided career information, he held the position from October 2020 to April 2021 in Milan. His work involved blockchain solutions and innovation projects.
Chief Executive Officer at Folks Finance
Biondi became Chief Executive Officer of Folks Finance in March 2021 and continues to hold the position. He founded the company in 2021 and has overseen its operations since its launch.
Folks Finance initially operated as an Algorand lending and borrowing protocol, launched in April 2022. In September 2024, the company introduced xChain Lending, a cross-chain lending system that allows collateral to be deposited and loans to be accessed across multiple blockchain networks through unified markets. Its infrastructure uses Wormhole's messaging layer and a hub-and-spoke architecture centered on Avalanche, with connections to networks including Ethereum, Arbitrum, and BNB Chain.
In 2024, Folks Finance introduced xALGO, a liquid staking token for Algorand. By the end of that year, the protocol reported approximately $400 million in total value locked, representing more than 75% of the DeFi TVL on Algorand. A fundraising round conducted during 2024 and 2025 was led by Borderless Capital and brought the total investment in Folks Finance to $6.2 million.
During Biondi's tenure as CEO, Folks Finance expanded its lending and borrowing services to nine blockchain networks and more than 90 supported assets. Other products introduced within the ecosystem include Ultraswap, Folks Router, Folks Feed Oracle, and xPortal.
Biondi discussed the development of Folks Finance and its use of Algorand in interviews. He attributed the decision to work with Algorand to factors including transaction costs, transaction speed, finality, and the technical characteristics of the network. He also described the role of the Algorand Europe Accelerator program in the development of Folks Finance, including its provision of mentorship, resources, and connections with investors.
DeFi Advisor at Climatecoin
In July 2022, Biondi became a DeFi Advisor at Climatecoin. His responsibilities include advising on decentralized finance strategies and implementations.
Mentor at Algorand Accelerate
Since September 2022, Biondi has served as a Mentor at Algorand Accelerate. The position involves providing expertise and supporting projects in the blockchain industry.
Forbes Technology Council Member
In April 2026, Biondi joined the Forbes Technology Council as a member. His activities in the council include contributing perspectives on digital finance, blockchain technology, and financial infrastructure through articles, expert panels, and leadership initiatives. [1] [2] [3] [4] [5] [6] [7] [8] [9] [10]
Panels
Financial Inclusion
In a fireside chat at the Algorand Impact Summit, Biondi and Eric Wragge of the Algorand Foundation discussed decentralized finance (DeFi) and its potential impact on financial inclusion. Biondi shared his journey from engineering studies in Italy to his role at Blockchain Italia and eventually founding Folks Finance on Algorand. He detailed the challenges and innovations in building DeFi platforms, particularly focusing on Folks Finance's evolution from a project manager to an entrepreneur. The conversation covered the growth of DeFi, the benefits of transparency and efficiency over traditional finance, and the integration of real-world assets like tokenized gold and silver. Biondi also highlighted his experiences in India, appreciating the local culture and entrepreneurial spirit.[7]
