Emerging Toronto-Based Blockchain Startups Reshaping Canada’s Tech Industry

January 23, 2024

Welcome to another installment in our series highlighting some of the most exciting and innovative startups to watch out for in Canada. In this article, we focus on late-stage startups founded in 2020 and later, working in the exciting realm of blockchain technology. Our methodology factored in such elements as fund-raising, the pedigree of the management team, stage of the business, sales and customer engagement among others. From cryptocurrencies to cloud services, these startups are reshaping the landscape of digital finance and beyond – all from their home base in Toronto, Ontario.

Blockchain technology promises to significantly disrupt many industries, including finance, supply chain management and even the art market. Toronto has been a major hub for these groundbreaking developments and has seen a flurry of activity in the past couple of years.

Whether it’s a novel Defi protocol, mining solutions provider, storage infrastructure development, or unique artist marketplace, these startups are making significant strides in their respective sectors. Without further ado, let’s explore these companies and what they bring to the table.

Firefly Exchange

Founded by Nikodem Grzesiak and Zabi Mohebzada, Firefly Exchange is a decentralized exchange for financial products. The company combines the security and transparency of decentralized exchanges with the sub-second trade settlement and low cost of centralized ones. Check them out on LinkedIn and follow them on Twitter.

Charged Particles

At the forefront of DeFi, Charged Particles is a non-fungible token protocol that fuses arts and finance. Founded by Ben Lakoff, CFA, and Rob Secord, the company aims to become a core infrastructural technology in the development of non-fungible token platforms. Stay connected with them on Facebook, Twitter and LinkedIn.

Kylin Network

Kylin Network, founded by Dylan Dewdney, is a decentralized data feeding protocol that builds data infrastructure for DeFi and Web 3.0. It aims to build a cross-chain platform powering the data economy on Polkadot. Follow them on Twitter and LinkedIn.

Libre DeFi

Libre, founded by Josh Davis and Julian V., is a decentralized finance protocol on the Binance Smart Chain offering rewarding financial services necessary for the DeFi ecosystem. Follow them on Twitter and LinkedIn.

ASIC Power Company

Founded by Daniel Novak, ASIC Power provides state-of-the-art ASIC technology and royalty streaming financing to the cryptocurrency mining industry. Follow them on Twitter and LinkedIn.


CanETH, founded in 2020, provides clients with staking solutions for Ethereum. Stay connected with them on LinkedIn.


Desentra, founded by Roman Vassilenko, seeks to redefine crypto education. Specializing in bite-sized courses, Desentra introduces people into the blockchain and cryptocurrencies. Follow them on Facebook and Twitter.


Peggy is a secure investment-grade art marketplace founded by Adam Meghji and Craig Follett. This platform enables investment in art at affordable prices while ensuring artists earn royalties for all future sales. Follow them on Instagram, Twitter and LinkedIn.

Führen Holdings Inc.

Führen Holdings Inc., founded by Aidan Payne and Tomas Henkenhaf, is a technology-focused company designed to fund, accelerate, and optimize a diversified technology portfolio. Stay connected with them on LinkedIn.


FilSwan, founded by Charles Cao in 2021, develops a storage and computing infrastructure layer for Web3. It enables web3 developers to integrate decentralized storage, edge computing, and payment across multiple chains. Follow them on Twitter and LinkedIn.


Founded by a team of four, Functionland is a peer-to-peer platform that enables users to share storage and compute resources. The platform disrupts traditional cloud storage and challenges the subscription-based model. Stay connected with them on Twitter and LinkedIn.

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