The Canadian blockchain stocks on our list could see strong returns even if cryptocurrencies do not recover
SmallCapPower | May 16, 2018: Blockchain technology can provide quick, stable, and completely secure transactions. Currently, major banks such as TD (TSX:TD) and RBC (TSX:RY) are looking into blockchain solutions to improve various financial products. The Canadian blockchain stocks on our list today utilize blockchain technologies for payment and banking solutions. The Mint Corporation (TSXV:MIT,OTCQB: MITJF) shares, for example, have surged 85% during the past six months.
Glance Technologies Inc. (CSE:GET) – $0.50
Software & Payment Solutions
Glance Technologies provides payment solutions to clients primarily in the restaurant business. The Company’s Glance Pay app allows users to pay restaurant bills without the need for a card machine, and offers restaurants expense tracking, rewards and records for bookkeeping purposes. Glance operates its own cryptocurrency for use in its app, as well as a subsidiary in the cannabis payment vertical.
- Market Cap: $68.0 Million
- 1 Month Total Return: 16.3%
- YTD Total Return: -75.6%
- 6 Month Total Return: -59.3%
Fintech Select Ltd. (TSXV:FTEC) – $0.14
Wireless Telecommunications Services
Fintech Select provides pre-paid card programs and mobile banking solutions to clients and has recently incorporated blockchain technologies onto its existing platforms. The Company created Selectcoin, a cryptocurrency platform which enables existing point of sale terminals to act as cryptocurrency exchanges. The platform remains in the process of activating in retail locations across Canada. On April 2, the Company announced discussions with a cryptocurrency brokerage for distribution of Bitcoin and Ethereum using Selectcoin, as well as updates to Selectcoin infrastructure.
- Market Cap: $10.0 Million
- 1 Month Total Return: -15.2%
- YTD Total Return: -61.1%
- 6 Month Total Return: -58.2%
BTL Group Ltd. (TSXV:BTL) – $6.84
IT Services & Consulting
BTL Group offers a variety of blockchain solutions to clients, primarily through Interbit. Interbit is a blockchain development platform that allows users to develop blockchain capabilities for enterprise applications, allowing for secure information transfer. The Company also has a blockchain-based payments platform called Xapcash. BTL test launched Interbit on April 23.
- Market Cap: $161.1 Million
- 1 Month Total Return: -10.6%
- YTD Total Return: -47.0%
- 6 Month Total Return: 7.9%
Mogo Finance Technology Inc. (TSX:MOGO) – $3.51
Mogo Finance Technology is a Canada-based IT company. The Company operates a suite of financial services technologies, including identity fraud protection, Bitcoin wallet, and loan solutions. The Company has 600k active users across its PC and mobile apps.
- Market Cap: $78.1 Million
- 1 Month Total Return: 0.3%
- YTD Total Return: -44.3%
- 6 Month Total Return: -40.4%
The Mint Corporation provides payroll, insurance, and employee deposit services to ~400,000 workers not qualified for traditional bank accounts in the UAE. The Company’s primary business is its automated payroll system, provided to employers through its partnership with Abu Dhabi Islamic Bank (ADIB). Employees receive a Mastercard or Unionpay payroll card, and can conduct banking transactions through its mobile app. The Company’s Mint Block Corp. subsidiary aims to develop blockchain remittance technology for use in its existing business.
- Market Cap: $41.9 Million
- 1 Month Total Return: -36.7%
- YTD Total Return: 4.2%
- 6 Month Total Return: 85.2%
Ubika Research/SmallCapPower has received compensation from The Mint Corp and Fintech Select to provide analyst research coverage. For full disclosure please visit here >>.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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