Blockchain is here to stay. What was once eyed with suspicion has now been embraced by some of the world’s largest companies. As of this year, around 40 million people are using blockchain technology. But this number is set to jump as many businesses plan to start using the tech soon if they aren’t already. But who is leading the way in the blockchain sphere? Which companies have made a name for themselves and the technology? In this article, we will take a look at some of the world’s biggest blockchain companies.
We will look at their business model, the financials, and the products on offer. Perhaps you will get some inspiration!
Circle
Circle, one of the world’s biggest blockchain companies, was launched in October 2013 by Jeremy Allaire and Sean Neville. A peer-to-peer (P2P) payments site, its principal product Circle Pay allows customers to pay, hold, send, and receive fiat currencies. Two years after its launch, it started offering cryptocurrency services. It received a BitLicense in New York followed by a virtual currency license from the UK government. This resulted in Circle Pay also functioning as a Bitcoin wallet.
In 2018, they managed to raise another $110 million. This was used to create USD Coin, a virtual currency backed by the US dollar and running on the Ethereum blockchain. Then, during the summer of 2021, Circle announced they plan to go public. A merger with Concord Acquisition Corp was announced, and the deal should see the company’s value reach $4.5 billion.
Circle Pay is similar in some aspects to the popular fintech app Venmo, but it’s powered by blockchain. Now, they are shifting more towards social payments.
Coinbase
Coinbase Global, aka Coinbase, was incorporated in the US back in 2012. As of March this year, it was the biggest cryptocurrency exchange in terms of trading volume in the whole of the US. Also, in 2021, the company went public, and it’s now listed on NASDAQ. From its humble beginnings, it has now amassed more than $1.14 billion in annual revenue and employs more than 1200 people. In 2020, Coinbase announced it would go wholly remote and cease to have a physical headquarters. This year, the company started operating in India and began hiring local staff.
Their portfolio of products includes the Coinbase app, which allows the purchase, sale, and storage of different cryptocurrencies, including Bitcoin, Dogecoin, Ether, and Litecoin. They also offer professional asset trading platforms, a wallet, services to institutions and professionals, and a card and payment service.
Today, the site has 56 million verified users, more than 8,000 institutions, a staggering 134,000 partners in 100 countries. This makes it one of the biggest blockchain companies in the world.
Binance
Chinese entrepreneur Changpeng Zhao founded Binance in 2017. It has since become one of the most well-known and biggest blockchain companies in the world. It serves almost every country globally, except the US. Services on offer include a cryptocurrency exchange and its cryptocurrencies, Binance Coin and Binance Smart Chain.
The company has had its fair share of controversy, but it remains the largest cryptocurrency exchange globally in terms of trading value. This totals more than $2 trillion, and the Binance Coin is the third biggest crypto in terms of market cap. Zhao announced that almost all of his net worth, some $1.9 billion, is invested in cryptocurrency. He added he doesn’t have any money invested in fiat and only converted them when strictly necessary.
The key to Binance’s success was being in the right place at the right time and offering services globally. Today, it lists more than 500 altcoins, which sets it apart from many other exchange providers.
Voatz
Voatz may not be one of the biggest blockchain companies globally in terms of size or value, but they are huge when it comes to potential. Formed in December 2016, Voatz is a mobile election voting app. The company aims to “make voting not only more accessible and secure, but also more transparent, auditable, and accountable.”
The Voatz platform utilizes blockchain and biometric identification to confirm the identity of voters. It doesn’t store any user information on the system and instead allows secure voting to take place. A voter downloads the app, then verifies their credentials and receives a token for the elections they will vote in. Once the votes have been authorized, they are printed out on paper and fed into a particular machine. Security for the app and its various functions include fingerprint, facial recognition, and passwords.
The company has had some growing pains over the years, but remember, this is a new technology.
Contact Fast Offshore
As cryptocurrencies continue to get more popular, so too will platforms that facilitate their exchange for fiat or other currencies. If you’re considering setting up a fiat, crypto, or hybrid exchange, or another kind of blockchain company, Fast Offshore can help. We have been working in the crypto and blockchain sector since its inception. While we cant advise you on the technical bits, we can take care of company incorporation, tax, accounts, and payments for you.
What are you waiting for? Contact Fast Offshore to get more information on how to turn your dream into one of the world’s biggest blockchain companies.
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