Top Startups in the APAC Cryptocurrency Ecosystem

Old is gold: does the proverb still hold true in today’s world? In the FinTech industry, and especially in the cryptocurrency ecosystem, everything is new, but highly valued nonetheless. It was just about a decade ago that the first cryptocurrency was made public and since then, the market has grown massively. Research estimates that the overall cryptocurrency market is set to reach $1.40 billion by 2024. Between 2019-2024, it is expected to grow at a CAGR of 6.18%.

Although North America plays a major role in the cryptocurrency ecosystem due to its early adoption of the digital currency, the focus, with respect to the coming years, is on the Asia-Pacific (APAC) region. APAC has a significant chunk of the market, with 36% of all participants in the industry, and 27% of the cryptocurrency exchanges. In contrast, North America accounts for 27% of all participants and 18% of transactions. Moreover, owing to factors such as a lower cost of electricity, high penetration of internet access, increased usage of smartphones, and flexibility in the regulatory markets, the emerging APAC markets are considered crucial in the global cryptocurrency ecosystem.

While APAC has 33% of the global cryptocurrency companies, the growth story of cryptocurrency in APAC is also influenced by startups that enable these currencies to be held, traded, exchanged and paid out. In light of this, we present to you some of the top cryptocurrency startups headquartered in APAC:

  1. Chainflyer, formerly known as Bitflyer, and founded in 2014, enables the buying and selling of  Bitcoin, crowdfunding with  Bitcoin and more. The company operates in the US and Europe and is the only one licensed in Europe that allows users to trade with Japan. The company is headquartered in Japan, and has raised $37.3 million in total funding.
  2. Terra, founded in 2018, is a crypto project offering a decentralized stable coin that can be used on various e-commerce platforms. The company is headquartered in Singapore, and has raised $32 million in total funding.
  3. Liquid.com, formerly known as Quoine, founded in 2014, is a  Bitcoin exchange platform facilitating  Bitcoin trading with multi-currency deposits such as JPY, USD, EUR, SGD, HKD, IDR, PHP, AUD. It also offers services such as wallet, vault and a  Bitcoin payments platform for online and offline merchants. The company is headquartered in Japan, and has raised over $20 million in total funding. In its latest Series C round, the company has achieved Unicorn status.
  4. Cobo, founded in 2017, offers a multi-asset blockchain wallet that helps users to store and use their cryptocurrencies. The mobile app helps users trade in over 20 cryptocurrencies. The company is headquartered in China, and has raised $20 million in total funding.
  5. KuCoin, founded in 2017, is a cryptocurrency exchange platform that enables users to buy/sell digital currencies like Bitcoin, Ethereum, Litecoin, Monero, ZCash, DigitalNote, Ardor, etc. The company is headquartered in Singapore, and has raised $20 million in total funding.
  6. CoolBitX, founded in 2014, is a crypto hardware wallet manufacturing company that allows users to trade and store digital assets through its wallet. Currently, it supports multiple cryptocurrencies like  Bitcoin, Litecoin, Ethereum, XRP,  Bitcoin cash, and ERC20 tokens. The company is headquartered in Taiwan, and has raised $13.7 million in total funding.
  7. Binance, founded in 2017, is a decentralized crypto exchange platform which lets one exchange digital currencies on the market. The company is headquartered in China, and has raised $10 million in total funding.
  8. OKLink, founded in 2016, is a money transfer network that can be utilized by cryptocurrency, remittance and payment companies for enabling transactions across geographies. It operates as a settlement platform to send money across borders by leveraging blockchain technology. The company is headquartered in Hong Kong, and has raised $10 million in total funding.
  9. Chronobank.io, founded in 2016, leverages blockchain technology to provide a cryptocurrency wallet and cryptocurrency exchange services to business users and individuals. It helps HR, recruitment and finance industries transact in cryptocurrencies. The company is headquartered in Australia, and has raised $4 million in total funding.
  10. BTC China, founded in 2011, is a  Bitcoin trading platform that enables consumers to buy and sell  Bitcoins in the native Chinese CNY currency. The company is headquartered in China, and has raised $5 million.
  11. ViaBTC, founded in 2016, is a Bitcoin mining exchange platform that allows individuals to rent mining rigs in contracts. It also allows them to increase a delayed payment in the  Bitcoin blockchain by paying an additional fee to include a particular transaction in the next block. The company is headquartered in China, and has raised $2.9 million in total funding.
  12. Spiking, founded in 2016, is an international stock tracing app that tracks transactions by large investors (whales) in both traditional and digital assets including cryptocurrencies. It offers a social stock trading platform that enables retail investors to track the transactions of significant shareholders of publicly listed companies. The company is headquartered in Singapore, and has raised $2.6 million in total funding.
  13. TravelbyBit, founded in 2017, is a payment platform that enables merchants to accept crypto payments in their business. The company is headquartered in Australia, and has received $2.6 million as a grant.
  14. Tenx, founded in 2015, provides cryptocurrency payment solutions based on a blockchain platform, enabling users to transact using their digital assets. The company is headquartered in Singapore, and has raised an undisclosed amount in seed funding.
  15. CDRX, founded in 2018, is a free-to-use cryptocurrency trading platform. It allows users to deposit and withdraw digital instruments such as coins, tokens, and crypto depository receipts, via securely dedicated wallets. The company is headquartered in Singapore.

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