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$25 billion by 2025, 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 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 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 August 20, 2020.
1. NetCents Technology (CSE:NC)
Market cap: C$95.63 million
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.
In mid-2020, NetCents Technology secured a US$1.4 billion credit facility that will allow the company to mitigate volatility risk for all of its merchants.
“This is a huge win-win-win. 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,” said Clayton Moore, founder and CEO of NetCents Technology, in a release at the time.
“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.”
2. Hydro66 Holdings (CSE:SIX)
Market cap: C$56.7 million
CSE-listed Hydro66 Holdings is a blockchain 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 mid-2020, Hydro66 joined with Techster and Stakater to deliver a fully managed Enterprise Kubernetes application platform from Hydro66’s data center.
3. Taal Distributed Information Technologies (CSE:TAAL)
Market cap: C$45.59 million
Taal Distributed Information Technologies, formerly known as Squire Mining, 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.
After rebranding at the beginning of 2020, Taal has had a busy year. In its five year roadmap, the company 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.”
4. BIGG Digital Assets (CSE:BIGG)
Market cap: C$26.13 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, BitRank and QLUE, 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.
5. Blockchain Foundry (CSE:BCFN)
Market cap: C$13.34 million
CSE blockchain stock Blockchain Foundry provides custom blockchain consulting, development and integration solutions to its clients with the goal of leveraging blockchain technology to help them solve their business problems. Put simply, the company aims to help the companies it works with incorporate blockchain technology into their operations.
Much of Blockchain Foundry’s news and activity centers on its partnerships, which include the likes of Microsoft (NASDAQ:MSFT) and Decentralized Identity Foundation, along with exchanges like Changelly.
This is an updated version of an article first published by the Investing News Network in 2018.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.