A list of startups in Seattle building crypto, blockchain, and Web3 technology
Crypto. Block chain. Web3. These are some of the hottest trends in technology.
Many longtime techies and entrepreneurs are jumping in, betting on what could be the next frontier of computing. Others are more cautious, especially given the volatility of digital currencies and emerging technologies.
The Seattle area is home to several budding startups developing a host 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 learn more about them.
Some say Seattle — given its influence as a tech hub and cloud computing mecca — should play a bigger role in this burgeoning new world, especially compared to cities like Miami where lawmakers are trying to facilitate the success of crypto and blockchain startups.
“Seattle entrepreneurs are starting to be at a distinct disadvantage compared to those operating in other jurisdictions,” said Jesse Proudman, a seasoned Seattle entrepreneur and CEO of Makara, which recently announced its acquisition to Betterment.
There are regulatory advances. Last year, Washington State launched a new Center for FinTech Information to bring licensing guidelines and regulations together in one place.
Simon Yu, co-founder and CEO of Seattle-based crypto startup StormX, pointed to the lack of investor interest. He said local venture capitalists tend to prefer software companies and avoid high-risk bets.
“I’ve seen a lot of good founders leave this town because they couldn’t get the funding they needed,” Yu said.
Crypto, the most visible example of blockchain technology, remains a Wild West, highlighted again in recent weeks as the prices of Bitcoin and other digital currencies have fallen. But industry watchers are hopeful.
“This is just the beginning,” said Arry Yu, president of the Washington Technology Industry Association’s Cascadia Blockchain Council. “There are so many opportunities to reimagine a decentralized, accessible and empowering future for all, built with a global mindset and native digital technology,”
Read on to learn about Seattle-area-based startups building crypto, blockchain, and Web3-related technologies. It’s an active list, and we know there are more startups in the area. Email us at [email protected] with suggestions for adding a business.
What theyre doing: Blockchain system to create decentralized applications
CEO: Robert Mao, previously worked for Microsoft Research and launched three startups
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What theyre doing: Crypto trading platform
CEO: Richie Lai, previously worked for Microsoft and Amazon
What theyre doing: Crypto Cash Network
CEO: Neil Bergquist, previously worked for Point B and SURF Incubator
Related coverage: Coinme, a Seattle startup that “crypto-enables” legacy financial services, raises $10 million
What theyre doing: Enterprise Hybrid Blockchain Platform
CEO: Onno Pelser, previously worked for Mindscape
What theyre doing: Crypto mining
CEO: Nick Hansen, previously worked for Salesforce and LGS Innovations
What theyre doing: Blockchain based game
CEO: Rahul Sood, previously launched Unikrn and Microsoft Ventures
What theyre doing: Cryptocurrency used by Native American tribes
CEO: Jeff Johnson
What theyre doing: Carbon Removal Market
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
What theyre doing: Digital Asset Investment Fund
CEO: Daryl Hok, previously worked for CetriK and FiscalNote
Related coverage: Mark Cuban, CEO of Robinhood, Coinbase Ventures among investors in new Seattle fintech startup
What theyre doing: Asset-tokenization-as-a-service
CEO: Kory Hoang, previously worked for PitchBook
Related coverage: Cryptocurrency startup stably raises more money, eyes growth amid pandemic
What theyre doing: Crypto Hedge Fund
CEO: Sadie Raney, previously worked for IBM
Related coverage: Cryptocurrency startup Strix Leviathan raises $1.6M from Joe Montana, Doug Baldwin and venture capitalists
What theyre doing: Crypto cashback app
CEO: Simon Yu, previously worked at KeyBank and ran a food truck
Related coverage: After landing an NBA jersey sponsorship deal, crypto startup StormX raises $9 million
What theyre doing: Taxation and accounting of digital assets
CEO: Austin Woodward, previously worked at Qualtrics
Related coverage: Cryptocurrency startup TaxBit, which just opened a new headquarters in Seattle, lands $130 million at a valuation of $1.33 billion
What theyre doing: Digital securities management platform
CEO: Dominic Niolu, previously worked at Intellectual Ventures
What theyre doing: B2B payment network
CEO: Alex Fowler, previously worked at Mozilla and Blockstream
Related coverage: Transparent Systems exits stealth mode with $22 million in funding for blockchain-enabled instant payments
What theyre doing: Blockchain-based energy exchange
CEO: Patrick Stevan Phelps, previously worked for Wyzant
What theyre doing: Crypto Tax and Accounting
CEO: Patrick Larsen, previously worked for Profitics and Amazon