About Cryptocurrencies sector in Toronto, Canada
The Cryptocurrencies sector in Toronto, Canada comprises 347 companies, including 83 funded companies having collectively raised $2.92B in venture capital money and private equity. Out of these, 40 are Series A+ funded, and 1 has achieved unicorn status.
Cryptocurrencies sector in Toronto, Canada has seen 18 acquisitions and 10 IPOs. This represents almost 8.1% of all such companies - which is higher than the 4.0% exit rate of tech companies in general.
This sector includes all companies that provide bitcoin and other digital currency products and services.
Cryptocurrencies sector is also known as Crypto Assets, Virtual Currencies, Crypto Tokens, Decentralized Currencies, Crypto Fintech or crypto.
Companies enabling circulation of Bitcoin/ Cryptocurrency. They help in mining, trading, investments, transfer, save or spend (payments) Bitcoins are included in this sector. Excludes bitcoin faucets or websites that enable bitcoin circulation without being registered or do not plan to register as companies in near future.
Top Cryptocurrencies Companies in Toronto, Canada
There are 347 Cryptocurrencies startups in Toronto, Canada which include Wealthsimple, Polymath, Ledn, Tokens.com, StableCorp. Out of these, 83 startups are funded, with 40 having secured Series A+ funding, and 1 achieving unicorn status.
2026 has seen the creation of 4 Cryptocurrencies startups in Toronto, Canada. Over the past 10 years, an average of 27 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Toronto, University of Waterloo and University of Pennsylvania.
Here is the list of top Cryptocurrencies startups in Toronto, Canada
1. Wealthsimple
Provider of financial services including investing, trading, saving, and borrowing. The company offers chequing accounts, credit cards, and savings accounts. It provides self-directed investing in stocks, ETFs, options, margin, gold, and crypto. Wealth management services include portfolios, direct indexing, and income portfolios. Mortgages and tax filing services are also available.
Key facts about Wealthsimple
- Founded Year: 2014
- Location: Toronto (Canada)
- Stage: Series F
- Total Funding till date: $1.29B
- Investors: Power financial, Meritech and 39 Others
- Latest Funding Round: Series F, Oct 27, 2025, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 20 of 3,984 Competitors
2. Polymath
The Polymath network provides a platform that lets users issue tokens on blockchain that have properties similar to financial securities. The platform aims to assist in creating of tokens, fundraising for projects, secondary market trading of the tokens, and more while complying with regulations.
Key facts about Polymath
- Founded Year: 2017
- Location: Toronto (Canada)
- Stage: Funding Raised
- Investors: Bauhaus Group, Yasar Corporation and 8 Others
- Latest Funding Round: Grant (prize money), Sep 01, 2021, $*****
- Tracxn Score: 64/100 What is this?
- Competitors Rank: 1 of 144 Competitors
3. Ledn
Ledn is a blockchain-based &crypto-backed lending platform. Offers loans secured by Bitcoin. Provides a segregated wallet address allowing for real-time proof of reserves on-chain. Allows users to repay the loan in Dollars and Bitcoin. Uses the Coindesk Bitcoin price index to determine loan-to-value ratios for Ledn loans.
Key facts about Ledn
- Founded Year: 2018
- Location: Toronto (Canada)
- Stage: Series B
- Total Funding till date: $104M
- Investors: 10T, Kingsway Capital and 26 Others
- Latest Funding Round: Series B, Nov 18, 2025, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 1 of 6 Competitors
4. Tokens.com
Blockchain-based technology focused on transaction processing and validation services for various digital assets. It provides transaction processing and validation services for digital assets that power Defi applications and NFT platforms. It also provides technical expertise and scale to provide staking operations and security.
Key facts about Tokens.com
- Founded Year: 2020
- Location: Toronto (Canada)
- Stage: Public
- Total Funding till date: $25M
- Latest Funding Round: Post IPO, Oct 26, 2021, $*****
- Tracxn Score: 60/100 What is this?
- Competitors Rank: 8 of 754 Competitors
5. StableCorp
Decentralized stable coin used for enabling B2B payments. The coin is pegged to the Canadian dollar enables instant B2B transactions for various domestic & international purposes. Provides KYC and AML compliant authentication solutions to restrict access to these transactions. Also, it offers exchange solutions to convert to Canadian dollars.
Key facts about StableCorp
- Founded Year: 2019
- Location: Toronto (Canada)
- Stage: Series A
- Total Funding till date: $8.51M
- Investors: FTP Ventures, Circle Venture Capital and 11 Others
- Latest Funding Round: Series A, Sep 24, 2025, $*****
- Tracxn Score: 59/100 What is this?
- Competitors Rank: 6 of 568 Competitors
Companies founded year-on-year in the Cryptocurrencies sector in Toronto
4 new startups have been founded so far in 2026 in the Cryptocurrencies sector in Toronto. 72 Cryptocurrencies startups in Toronto were founded in 2025 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 4 |
2025 | 72 |
2024 | 4 |
2023 | 9 |
2022 | 23 |
2021 | 25 |
2020 | 13 |
2019 | 34 |
2018 | 53 |
2017 | 34 |
Stage-wise distribution of Cryptocurrencies sector companies in Toronto
Out of the total 347 Cryptocurrencies companies in Toronto, 83 have secured funding. Among them, 40 have reached Series A or higher, and 34 to Series B or beyond.
Founded - 347
Funded - 83
Series A+ - 40
Series B+ - 34
Series C+ - 31
Company Stage | No. of companies |
|---|---|
Founded | 347 |
Funded | 83 |
Series A+ | 40 |
Series B+ | 34 |
Series C+ | 31 |
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Funding Trends in the Cryptocurrencies sector in Toronto
Total funding year-on-year in the Cryptocurrencies sector in Toronto
The Cryptocurrencies sector in Toronto saw a total funding of more than $2.9B in the last 10 years. The most amount of funding was in 2021 at more than $1.19B. There has been a total funding of $2.62M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $2.62M |
2025 | $1.02B |
2024 | $65M |
2023 | $45.1M |
2022 | $48.4M |
2021 | $1.19B |
2020 | $98.3M |
2019 | $116M |
2018 | $205M |
2017 | $104M |
Recent Funding Rounds in Cryptocurrencies in Toronto
In the year 2025, till December 2025, Cryptocurrencies companies in Toronto have raised $401M in equity funding across 8 rounds.
In the same period last year (i.e. till December 2024), Cryptocurrencies companies in Toronto had raised $13.1M across 6 rounds.
So, 2025 has seen a 2973% rise in funding in Cryptocurrencies companies in Toronto as compared to 2024.
Here are some recent, important funding rounds in Cryptocurrencies companies in Toronto:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 6436 | Dec 04, 2025 | ||
Series B | 4264 | Nov 18, 2025 | ||
Series F | 2071 | Oct 27, 2025 | ||
Seed | 1123 | Oct 19, 2025 | and 2 more | |
Series A | 3736 | Sep 24, 2025 |
Top Investors in Cryptocurrencies in Toronto
Plug and Play Tech Center is the top investor in Cryptocurrencies companies in Toronto based on number of companies invested.
Here are some top investors in Cryptocurrencies companies in Toronto:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
New York City (United States) | Ledn and Thala Labs | |
Shanghai (China) | - | |
Toronto (Canada) | - | |
Toronto (Canada) | - |
M&A activity in Cryptocurrencies sector in Toronto
In the year 2024, till December 2024, 1 acquisition happened in Cryptocurrencies sector in Toronto. Last year, in 2023, a total of 2 acquisitions happened in Cryptocurrencies sector in Toronto.
Here are some recent, important acquisitions in Cryptocurrencies sector in Toronto:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Dec 16, 2024 | ||
Business Acquisition | Nov 16, 2023 | ||
Business Acquisition | May 05, 2023 | ||
Business Acquisition | Nov 26, 2022 | ||
Business Acquisition | Oct 06, 2022 |
Acquisition trends in Cryptocurrencies sector in Toronto
Here are the acquisition trends in Cryptocurrencies sector in Toronto:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 1 |
2023 | 2 |
2022 | 5 |
2021 | 6 |
2020 | 2 |
2019 | 1 |
2018 | 4 |
2017 | - |
IPOs in Cryptocurrencies in Toronto
In the year 2025, till December 2025, 1 IPO happened in Cryptocurrencies sector in Toronto.
Here are some recent, important IPOs in Cryptocurrencies sector in Toronto:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Dec 10, 2025 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Dec 16, 2024 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Apr 19, 2022 | Toronto Stock Exchange - Venture Exchange (TSX-V) | |
Feb 08, 2022 | Toronto Stock Exchange (TSX) | |
Sep 13, 2021 | OTC Markets (OTCMKTS) |
Colleges which produce the most Cryptocurrencies companies in Toronto
Companies founded by alumni from top colleges in the Cryptocurrencies in Toronto
Most number of Cryptocurrencies startups in Toronto have been founded by alumni from University of Toronto, University of Waterloo and University of Pennsylvania.
College | No. of companies |
|---|---|
University of Toronto | 11 |
University of Waterloo | 4 |
University of Pennsylvania | 2 |
Harvard Business School | 1 |
Harvard University | 1 |
Humboldt-Universität zu Berlin | 1 |
IIT Kharagpur | 1 |
Ivey School of Business | 1 |
London School of Economics and Political Science | 1 |
Massachusetts Institute of Technology | 1 |
Total funding in Cryptocurrencies companies founded by alumni from top colleges in Toronto
In the last 10 years, University of Oxford graduates' Cryptocurrencies companies in Toronto have raised the most funding among top colleges. University of Toronto alumni are second, and Ivey School of Business alumni are third.
College | Total Funding |
|---|---|
University of Oxford | $1.29B |
University of Toronto | $230M |
Ivey School of Business | $98.4M |
University of Pennsylvania | $6.4M |
Harvard Business School | $6.2M |
University of Waterloo | $2.56M |
IIT Kharagpur | $1.6M |
Harvard University | $340K |
Yale University | $340K |
Humboldt-Universität zu Berlin | - |
Top News in Cryptocurrencies in Toronto
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DMCC and Tether Sign MoU to Advance Blockchain, Tokenisation and Digital Finance CollaborationAlBawaba•Jun 17, 2026•DMCC, Tether, Ledn, Neura Robotics and 6 others
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Bitfarms Plans Washington Site Conversion to HPC/AI Workloads,Targeting Dec 2026 CompletionGlobeNewswire•Nov 13, 2025•Bitfarms
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