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$69 billion by 2030, investor interest in the space has been growing — 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 three 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 November 23, 2022.
POSaBIT Systems (CSE:PBIT)
Market cap: C$90.4 million
Fintech company POSaBIT Systems delivers blockchain-enabled payment processing and point-of-sale systems to the cannabis industry. and other cash-only businesses. The company's payment solutions provide compliance, safety and transparency for merchants while creating a user-friendly experience for consumers.
In October 2022, the company reported that its 3Q 2022 revenues will reach a record level of at least US$10.0 million, up 60 percent over Q3 2021 revenues.
2. BIGG Digital Assets (CSE:BIGG)
Market cap: C$57.54 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.
3. Taal Distributed Information Technologies (CSE:TAAL)
Market cap: C$42.2 million
Last 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.
TAAL has a hosting partnership agreement with Hut 8 Minin Corp. (TSX:HUT), a leader in North America's digital asset mining industry. 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."
In August 2022, TAAL announced its transition to a Metanet service provider. "Metanet is the next generation of global data commerce, whereby transactions are completed without third-party intervention," stated the press release. "Metanet evolves TAAL’s base business of capturing blockchain subsidies towards the monetization of blockchain transactions as a service platform and will drive the next leg of growth for the Company."
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.