The Investing News Network profiles five companies on the Canadian Securities Exchange with a pure focus on blockchain.
With blockchain technology set to reach a staggering market size of US$25 billion by 2025, investor interest in the space has never been hotter — and Canadian companies are at the forefront of the industry’s blockchain development.
In terms of publicly traded companies in the sector, the Canadian Securities Exchange (CSE) has positioned itself as an epicenter for blockchain companies listing their common shares, making CSE blockchain stocks a hot commodity in the capital markets.
The CSE also launched a blockchain-powered platform in early 2018 — the first in Canada for clearing and settling securities by way of blockchain — further solidifying itself as a leading stock market in the Canadian blockchain revolution.
However, while there are many companies dipping into this ever-evolving industry, not all of them are purely focused on the development of blockchain technology.
Here’s a look at five stocks listed on the CSE that are directly involved in blockchain technology or have deep interests in blockchain applications and digital assets. The CSE blockchain stocks below are listed in alphabetical order and market capitalizations were current at the time of publication.
1. BIGG Digital Assets Inc. (CSE:BIGG)
Market cap: C$17.2 million
BIGG Digital Assets owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (gonetcoins.com). Blockchain Intelligence Group has developed two patent-pending technologies, QLUE and BitRank, that are deployed through its forensic services division.
BitRank is a “risk scoring” application that provides visibility into a cryptocurrency wallet’s history. Through this platform, banks, money service businesses, exchanges, miners and bitcoin ATMs can identify, mitigate and report cryptocurrency transaction risks.
QLUE helps law enforcement and financial institutions detect fraudulent and criminal bitcoin transactions using advanced search algorithms.
This blockchain stock has been listed on the exchange since June 12, 2017.
2. Hydro66 Holdings (CSE:SIX)
Market cap: C$32.66 million
Hydro66 Holdings is a business that offers scalable hosting services through its data center located in Boden, Sweden.
The company’s data center is completely powered by renewable energy and provides industrial wholesale power to meet the demands of blockchain miners. Hydro66 offers high-performance computing racks, cages and halls to supply power for blockchain companies. In June 2020, Hydro66 announced that it has joined with Techster and Stakater to deliver a fully-managed Enterprise Kubernetes application platform from Hydro66’s data enter.
The blockchain company listed on the CSE on June 13, 2018.
3. NetCents Technology (CSE:NC)
Market cap: C$82.99 million
Crypto currency platform NetCents is a company that offers a streamlined and simplified platform for payment on the CSE. NetCents accepts and confirms blockchain transactions and eliminates delays in them. Through the release of its Risk Analysis and Zero Confirmation Technology, NetCents allows users to make secure crypto currency payments.
In June 2020, NetCents secured a $US1.4 billion credit facility which will allow the company to mitigate the volatility risk for all of its merchants.
“This is a huge win-win-win,” stated Clayton Moore, Founder and CEO of NetCents Technology. “Merchants benefit because this facility and trading program will reduce our operating costs, which will enable us to charge smaller fees to our merchants in the future. NetCents will benefit as it has a new revenue stream to support operations – these trading strategies we can deploy are highly profitable. The exchanges benefit as well due to the increased capital deployed in the market, which means that over time, volatility will decline, creating an environment allowing mainstream participants to adopt crypto as a means of exchange and not purely speculation.”
NetCents began listing on the CSE on March 9, 2016.
4. Victory Square Technologies (CSE:VST)
Market cap: C$11.69 million
Victory Square Technologies is a blockchain-focused venture company that helps entrepreneurs implement blockchain solutions. The company has a portfolio of companies that spans virtual reality, artificial intelligence, personalized health, gaming and film.
In June 2020, Victory Square Technologies reported record net income of C$3,291,457 in the first quarter of 2020. “I am proud of our first quarter performance, as each portfolio company delivered strong results despite rapidly changing market conditions associated with the COVID-19 pandemic,” said Shafin Diamond Tejani, Chief Executive Officer.
The blockchain company has been listed on the CSE since June 9, 2017.
5. First Growth Funds Limited (CSE:FGFL)
Market cap: C$1.09 million
First Growth Funds Limited is the newest CSE blockchain stock.
The Australian based company provides advisory services and invests globally across a diversified portfolio of different asset classes, including technology companies involved in the development of blockchain solutions as well as direct investments in established and liquid Cryptocurrency (for example Bitcoin and Ethereum).
The company listed on the CSE on June 29, 2020.
This is an updated version of an article originally published by the Investing News Network in 2018.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.