Crypto. Blockchain. Web3. These are some of the hottest trends in tech.
Many longtime techies and entrepreneurs are jumping in, betting on what could be the next frontier of computing. Others are more cautious, particularly given the volatility of digital currencies and nascent technologies.
The Seattle region is home to several budding startups developing a bevy of products and services related to crypto (digital currency), blockchain (distributed ledger-based technology), and Web3 (blockchain-based internet). We reached out to industry leaders and compiled a list of Scroll down to read more about them.
Some say Seattle — given its clout as a tech hub and cloud computing mecca — should play a bigger role in this burgeoning new world, especially compared to cities such as Miami where lawmakers are trying to make easier for crypto and blockchain startups to succeed.
“Seattle entrepreneurs start significantly disadvantaged to those operating in other jurisdictions,” said Jesse Proudman, a veteran Seattle entrepreneur and CEO of Makara, which recently announced its acquisition to Betterment.
There is some regulatory progress. Last year Washington state launched a new Center for FinTech Information to gather licensing guidelines and regulations in one place.
Simon Yu, co-founder and CEO at Seattle crypto startup StormX, pointed to a lack of investor interest. He said local venture capitalists tend to prefer software companies and avoid high-risk bets.
“I’ve seen many good founders leaving this city because they couldn’t get the funding they needed,” Yu said.
Crypto, the most visible example of blockchain tech, remains a wild west, highlighted again over the past few weeks as prices of Bitcoin and other digital currencies have fallen. But industry watchers are hopeful.
“This is just the beginning,” said Arry Yu, chair of the Washington Technology Industry Association’s Cascadia Blockchain Council. “There’s so much opportunity to reimagine a decentralized, accessible, and empowering future for all people that’s built with a global-first mindset and digitally-native technology,”
Read on to learn about startups based in the Seattle area building crypto, blockchain, and Web3-related technologies. This is an active list, and we know there are more startups in the region. Email us at tips@geekwire.com with suggestions to add a company.
ArcBlock
Founded: 2017
What they do: Blockchain system for building decentralized apps
CEO: Robert Mao, previously worked for Microsoft Research and launched three startups
Related coverage: ‘AWS for blockchain’: ArcBlock aims to build, manage and deploy decentralized apps
Bittrex
Founded: 2014
What they do: Crypto trading platform
CEO: Richie Lai, previously worked for Microsoft and Amazon
Coinme
Founded: 2014
What they do: Crypto cash network
CEO: Neil Bergquist, previously worked for Point B and SURF Incubator
Related coverage: Coinme, a Seattle startup that is ‘crypto-enabling’ legacy financial services, raises $10M
Dragonchain
Founded: 2014
What they do: Hybrid blockchain platform for enterprise
CEO: Onno Pelser, previously worked for Mindscape
Luxor
Founded: 2018
What they do: Crypto mining
CEO: Nick Hansen, previously worked for Salesforce and LGS Innovations
Irreverent Labs
Founded: 2021
What they do: Blockchain-based gaming
CEO: Rahul Sood, previously launched Unikrn and Microsoft Ventures
Native Coin
Founded: 2020
What they do: Cryptocurrency used by Native American Tribes
CEO: Jeff Johnson
Nori
Founded: 2017
What they do: Carbon removal marketplace
CEO: Paul Gambill, previously worked for Deloitte and founded two startups
Related coverage: Toyota invests in Nori, a carbon removal startup trying to help reverse climate change
Seashell
Founded: 2021
What they do: Digital asset investment fund
CEO: Daryl Hok, previously worked for CetriK and FiscalNote
Related coverage: Mark Cuban, Robinhood CEO, Coinbase Ventures among investors in new Seattle fintech startup
Stably
Founded: 2018
What they do: Asset-tokenization-as-a-service
CEO: Kory Hoang, previously worked for PitchBook
Related coverage: Cryptocurrency startup Stably raises more cash, eyes growth amid pandemic
Strix Leviathan
Founded: 2018
What they do: Crypto hedge fund
CEO: Sadie Raney, previously worked for IBM
Related coverage: Cryptocurrency startup Strix Leviathan raises $1.6M from Joe Montana, Doug Baldwin, VC firms
StormX
Founded: 2014
What they do: Crypto cashback app
CEO: Simon Yu, previously worked at KeyBank and ran a food truck
Related coverage: After landing NBA jersey sponsorship deal, crypto startup StormX raises $9M
TaxBit
Founded: 2018
What they do: Digital assets tax and accounting
CEO: Austin Woodward, previously worked at Qualtrics
Related coverage: Cryptocurrency startup TaxBit, which just opened a new HQ in Seattle, lands $130M at $1.33B valuation
TerraChain
Founded: 2021
What they do: Digital securities management platform
CEO: Dominic Niolu, previously worked at Intellectual Ventures
Transparent Systems
Founded: 2018
What they do: B2B payment network
CEO: Alex Fowler, previously worked at Mozilla and Blockstream
Related coverage: Transparent Systems exits stealth mode with $22M in funding for blockchain-enabled instant payments
Why Grene
Founded: 2017
What they do: Blockchain-based energy exchange
CEO: Patrick Stevan Phelps, previously worked for Wyzant
Zenledger
Founded: 2021
What they do: Crypto tax and accounting
CEO: Patrick Larsen, previously worked for Profitics and Amazon
