A list of startups in Seattle building crypto, blockchain, and Web3 technology

(Photo Bigstock)

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.

ArcBlock

(ArcBlock picture)

Based: 2017

What theyre doing: Blockchain system to create decentralized applications

CEO: Robert Mao, previously worked for Microsoft Research and launched three startups

Related coverage: “AWS for blockchain”: ArcBlock aims to create, manage and deploy decentralized applications

Bittrex

(Picture Bittrex)

Based: 2014

What theyre doing: Crypto trading platform

CEO: Richie Lai, previously worked for Microsoft and Amazon

Coinme

(Coinme Image)

Based: 2014

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

dragon chain

(Dragon chain picture)

Based: 2014

What theyre doing: Enterprise Hybrid Blockchain Platform

CEO: Onno Pelser, previously worked for Mindscape

Luxor

(Image of Luxor)

Based: 2018

What theyre doing: Crypto mining

CEO: Nick Hansen, previously worked for Salesforce and LGS Innovations

Irreverent Laboratories

(Image of Irreverent Labs)

Based: 2021

What theyre doing: Blockchain based game

CEO: Rahul Sood, previously launched Unikrn and Microsoft Ventures

native coin

(Native coin image)

Based: 2020

What theyre doing: Cryptocurrency used by Native American tribes

CEO: Jeff Johnson

nori

(Picture Nori)

Based: 2017

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

Shellfish

(Seashell picture)

Based: 2021

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

Stable

(steady picture)

Based: 2018

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

Strix Leviathan

(ImageStrix)

Based: 2018

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

StormX

Portland Trail Blazers StormX jersey crest. (Photo courtesy of Bruce Ely/Trail Blazers)

Based: 2014

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

TaxBit

(Picture TaxBit)

Based: 2018

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

TerraChain

(Image from Terra Channel)

Based: 2021

What theyre doing: Digital securities management platform

CEO: Dominic Niolu, previously worked at Intellectual Ventures

Transparent systems

Based: 2018

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

Why Grene

(Why Grene Image)

Based: 2017

What theyre doing: Blockchain-based energy exchange

CEO: Patrick Stevan Phelps, previously worked for Wyzant

Zenledger

(Photo ZenLedger)

Based: 2021

What theyre doing: Crypto Tax and Accounting

CEO: Patrick Larsen, previously worked for Profitics and Amazon

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