First Blockchain Company Goes Public on Toronto Stock Exchange
Canadian blockchain technology startup Blockchain Tech Ltd (BTL) has been successfully listed on the VentureBoard of the Toronto Stock Exchange, with the tracker BTL (TSXV:BTL).
The Toronto stock Exchange Venture listing is a part of an initiative from its newly raised US$1.5 million funding round to invest in proprietary blockchain technology and its core software.
Through the improvement of its technologies, Blockchain Tech Ltd aims to establish itself as the key game-changer of the “international FinTech movement,” and support financial institutions as well as banks to utilize the blockchain technology to bridge conventional payment systems to new generation transaction settlement networks.
Guy Halford-Thompson, CEO of BTL said:
“Today represents an important milestone for BTL. We are proud to be the first blockchain technology company to be listed on the TSX Venture – it is a phenomenal achievement. Critically, we believe this move further validates our assumptions for blockchain technologies, and allows us to maximise our reach, connecting with businesses across the globe.”
In relation to today’s announcement, Blockchain Tech Ltd has also launched a blockchain-based remittance platform called Interbit, allowing users to send international remittances with lower transaction and conversion fees.
The firm is targeting multiple billion dollar remittance industries, including the UK and Canada market, which settled more than US$23 billion remittances in 2011 alone. Using the newly released Interbit platform, anyone from the U.K and Canada will be able to send remittance with ease to a number of global territories including South America, Southeast Asia, and Africa.
“As a leader within this dynamic community BTL further solidifies its place as a vital and important organization, driving the growth of the blockchain market. Lastly, the Company is also exploring other pioneering blockchain,” stated the BTL team.
BTL is officially the first blockchain technology firm to be listed on the Toronto Stock Exchange and one of the few digital currency-related startup to engage in an IPO since Vogogo Inc’s public listing back in September, 2014 and more recently with Coinsilium in the UK.