As the adoption of blockchain technology becomes more mainstream, the market is set to reach a staggering size of US$69 billion by 2030. Blockchain stocks are at the forefront of the industry’s development.
In terms of publicly traded companies, 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 the CSE’s three largest 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 September 26, 2023.
1. POSaBIT Systems (CSE:PBIT)
Market cap: C$90.69 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 September 2023, the company announced the launch of its POSaBIT POS 2.0. Features include ‘a simplified and more intuitive user interface, enhanced data analytics, and expanded integrations with popular e-commerce platforms.’
2. BIGG Digital Assets (CSE:BIGG)
Market cap: C$57.45 million
BIGG Digital Assets owns three operating companies: Blockchain Intelligence Group (blockchaingroup.io), Netcoins (gonetcoins.com) and TerraZero Technologies, which it acquired in September 2023.
Blockchain Intelligence Group has developed two patent-pending technologies that are deployed through its forensic services division. The first is BitRank, 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. The second is QLUE, which helps law enforcement and financial institutions detect fraudulent and criminal Bitcoin transactions using advanced search algorithms.
Recently, BIGG Digital Assets’ subsidiary Netcoins, an online cryptocurrency brokerage, relaunched Netcoins Pay in partnership with Koho Financial and Mastercard (NYSE:MA).
3. Cypherpunk Holdings (CSE:HODL)
Market cap: C$13.09 million
Cypherpunk Holdings invests in emerging blockchain technologies, cryptographic security architectures and cryptocurrencies. The firm’s portfolio includes gaming software company Animoca Brands; mobile Bitoin wallet Samouri Wallet; NGRAVE, a cryptocurrency hardware wallet backed by Binance Labs; and Chia Network, a green cryptocurrency that uses less energy to mine.
Cypherpunk has also allocated 40 percent of its net assets to holdings totaling 214.98 Bitcoin, and invests in mining assets such as concierge mining services, mining pools and jointly operated partnerships.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.