Interested in CSE blockchain stocks? Here’s a rundown of five companies on the exchange to watch.
With blockchain technology set to reach a staggering market size of US$56.7 billion by 2026, investor interest in the space has never been hotter — and CSE blockchain stocks are at the forefront of the industry's development.
In terms of publicly traded companies in the sector, the CSE, or Canadian Securities Exchange, 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 CSE blockchain stocks that are directly involved in blockchain technology or have deep interests in blockchain applications and digital assets. The CSE blockchain stocks below were selected using the CSE's stock screener; they are listed in order of biggest market cap to smallest, and all had market caps of at least C$10 million as of October 27, 2021.
1. BIGG Digital Assets (CSE:BIGG)
Market cap: C$274.43 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 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.
BIGG announced a strategic partnership with LQwD Fintec Corp (TSXV:LQWD,OTC:LQWDF) in October. The agreement will see BIGG subsidiary Netcoins serve as LQwD's preferred liquidity provider, and will also establish a node on the Bitcoin Lightning Network via LQwD's proprietary Lightning PaaS (Platform as a Service) software, marking the first institutional grade Lightning payment channel for Netcoins and BIGG. BIGG's Blockchain Intelligence Group will provide LQwD with a suite of institutional and government grade compliance software, including BitRank® and QLUE™.
2. Taal Distributed Information Technologies (CSE:TAAL)
Market cap: C$125.4 million
Next up on our list of top CSE blockchain stocks is Taal Distributed Information Technologies, which is focused on becoming a vertically integrated blockchain infrastructure and service provider with the ability to create custom solutions for its clients. The CSE blockchain stock's services include transaction processing, managed services, data storage solutions and miner API.
In its five year roadmap, TAAL discusses the major changes it sees coming in the blockchain industry, including "a transition away from a block rewards subsidy model to a transaction fee-based model."
3. NetCents Technology (CSE:NC)
Market cap: C$55.87million
Cryptocurrency platform NetCents Technology offers a streamlined and simplified payment platform. Put simply, the company accepts and confirms blockchain transactions and eliminates delays. With its risk analysis and zero-confirmation technology, it allows users to make secure cryptocurrency payments.
NetCents is advancing on entering the Non-Fungible Tokens (NFT) space via its
Partnership with The Human Interest Group, which has decades of experience working in the professional sports business world. NetCent intends to create consumer product opportunities that to tie in with branded athletes or products in developing tokens that assist in verifying authenticity or official ties into celebrity athletes.
4. Intellabridge Technology (CSE:KASH)
Market cap: C$49.51 million
Intellabridge Technology develops blockchain applications for mobile and web platforms, and provides consulting services across a variety of sectors, including identity management, electoral systems, supply chain management and telecommunications.
The company announced partnerships with LunaBulls and Terra Cards in October to create the first-ever utility NFT in the Terra ecosystem that provide NFT owners with utility value on the Kash DeFi platform. "We believe that the future of NFTs is in their utility value, and these partnerships reflect the potential of NFTs to provide meaningful benefits for NFT owners, " said John Eagleton, CEO of Intellabridge.
5. Luxxfolio Holdings (CSE:LUXX)
Market cap: C$21.52 million
Last on our list of top CSE blockchain stocks is Luxxfolio Holdings, a digital asset company operating an industrial scale cryptocurrency mining facility in the United States, powered primarily by renewable energy.
Luxxfolio confirmed an order for 500 Bitmain S19j Pro (100 TH/s) Bitcoin miners in October for US$3.02 million (Us$60/TH) with delivery scheduled for May 2022. By the end of July 2022, the company projects it will be operating a total of 3,590 miners with a total projected future hash rate of 360 PH/s. As of October 21, Luxxfolio had 1,309 miners operating at a hash rate of 124.4 PH/s.
This is an updated version of an article first published by the Investing News Network in 2018.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.