Forbes defines cryptocurrency as decentralized money based on blockchain technology. While the most well-known versions include Bitcoin and Ethereum, more than 9,000 cryptocurrencies are used to buy goods and services, as well as assets like stocks.
While it’s gained popularity in the last few years, purchasing it can be risky — especially in Canada. Unlike its U.S. counterpart, Canadian crypto assets are not legal tender, meaning a government or central bank doesn’t issue or oversee them. Despite these barriers, these Toronto companies are rising to the challenge.
Crypto Companies in Toronto
- Block
- Ledn
- SmartPay
- Coinchange
- Newton.co
Crypto Companies in Toronto
Block offers integrated commerce solutions, business software and banking services to help sellers manage and grow their businesses. Comprising companies like Square, Cash App, Tidal and TBD, Block has 19 offices worldwide where employees can work if they choose. In addition to a hybrid schedule, the company’s other benefits include fertility and abortion travel.
Ledn offers a suite of lending, savings and trading products to digital asset holders in 130 countries. The company underwrote Canada’s first-ever Bitcoin-backed loan in 2018 and recently announced the world’s first Bitcoin-backed mortgage. Its only office is located in Toronto.
SmartPay is a payment processing platform from CoinSmart that allows users to buy and sell digital assets like Bitcoin and Ethereum. It’s one of the few crypto asset trading platforms in the country to be registered as a securities dealer and marketplace and one of the first trading platforms in the country to have an international presence.
Coinchange allows financial advisors, crypto hedge funds and high-net-worth clients to automate earnings, invest in institutional crypto funds, trade seamlessly and access yield as a service. The company is headquartered in Toronto between Trinity-Bellwoods and the Distillery District.
Newton.co’s mission is to build a financial system that is more open, fair and democratic by making crypto accessible to everyone. For example, Newton users can buy and sell with no withdrawal or funding fees when using Interac e-Transfer. The company has offices in both Toronto and Montréal.
