Exploring Emerging California-Based Ontario Blockchain Startups: A Spotlight

The blockchain industry has shown an aggressive growth pattern, especially in recent years with an increasing number of startups. Irrespective of the disrupted worldwide economy caused by Covid-19, a significant number of ambitious ventures emerged in the blockchain sector in 2020. Especially in California’s budding startup scene, we have seen many new companies spring to life, particularly in the city of Ontario. This article is a part of a series that shines a spotlight onto these startups who are making ground-breaking developments in the blockchain industry.

Blockchain technology has been receiving a fair bit of hype for a good reason. Rightly compared to the Internet revolution in the 1990s, blockchain has the potential to truly transform various industries, leading to better transparency, improved traceability, increased efficiency, and improved security. 2020 became a launching year for several innovative players in this sector who now harness this technology’s potential to create innovative solutions across a diverse range of applications.

In this article, we have collated a list of startups, all founded in 2020 or later, that are based in Ontario and are operating within the Blockchain industry. Let us take a closer look into these ventures, their work, and their potential impact on our lives.

Axelar Network

UK-based Axelar Network is a cross-chain communication tool developing interoperability software to connect blockchain ecosystems, applications, and users. Founded by Sergey Gorbunov and Georgios Vlachos in 2020, Axelar enables developers to build on the best platform for their needs while leveraging the Axelar stack to unlock cross-chain composability and liquidity.

Firefly Exchange

Firefly is a decentralized, orderbook-based exchange for financial products. This Toronto-based startup is backed by Polychain Capital, Three Arrows Capital, and many other investors. The exchange uses a trustless layer-2 blockchain to combine the security and transparency of decentralized exchanges with the sub-second trade settlement and low cost of centralized ones.

Charged Particles

Charged Particles is a non-fungible token protocol that fuses art and finance. The founders, Ben Lakoff and Rob Secord, are striving to make it a core infrastructural technology in the development of non-fungible token platforms. They enable users to deposit digital assets inside their non-fungible tokens.

Kylin Network

Kylin Network is a decentralized data feeding protocol that offers any applications and blockchains valid on/off-chain market and social data by leveraging the power of the Polkadot/Substrate Framework. The company’s goal is to build a cross-chain platform powering the data economy.

Libre DeFi

Libre is a decentralized finance protocol on the Binance Smart Chain offering transparency and rewarding financial services that are crucial for the DeFi ecosystem. With founders Josh Davis and Julian V., LibreDeFi is set on being a one-stop Defi shop for both crypto veterans and newcomers.

ASIC Power Company

ASIC Power, founded by Daniel Novak and based in Toronto, offers state-of-the-art ASIC technology and royalty streaming financing to the cryptocurrency mining industry.


CanETH, a Toronto-based startup provides clients with staking solutions for Ethereum. CanETH was founded in 2020 and currently headquartered in Toronto, Canada.


Ottawa-based startup, Thred, facilitates the minting and ownership of Smart Utils, a revolutionary way to dynamically activate utilities on NFT Collections.


Desentra aims to redesign crypto education with courses designed for maximum learning outcomes with a minimum time commitment. The Toronto-based company founded by Roman Vassilenko strives to introduce people into blockchain and cryptocurrencies and enhance their knowledge and experience in the field.


MoogleLabs, based in Mississauga, is a leading AI development company that offers digital transformation to its clients. This startup focuses on human empowered automation services, crafting machines, and deep learning algorithms for automating international businesses. It also offers a range of software solutions satisfying the needs of various clients.


Peggy is the secure marketplace for investment-grade art. By partnering with galleries and artists, Peggy makes living with and investing in art accessible for all. The startup, founded by Adam Meghji and Craig Follett, is rooted in Toronto and leverages AI and Machine Learning to provide a secure platform for art trading.

As we can see from the list, each of these companies has distinct value propositions and focuses on different areas within the blockchain industry. The founders shine a light on California’s disruptive and dynamic startup scene, changing the course of industries. The rise of these creative problem solvers points to an exciting future for Ontario, California, and the blockchain industry.

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