The ascent of Bitcoin and Ethereum have been extraordinary, despite the major slump in the current global economy. Today, many companies utilize these cryptocurrencies to drive transparency, speed up business processes, and make investments. A quick look into the crypto world will allow you to find plenty of big players benefiting from cryptocurrency prices moving higher. In this article, we selected five of the most influential crypto companies in 2020. Some of these companies are already generating revenues in the billions. We all know that digital assets can hold excellent investment opportunities but did you know they can also offer career opportunities. The crypto world is always on the lookout for new talents with specialized skill sets. So if you are looking to start a career in the cryptocurrency space, these companies are good places to start your search.
Eight years and 35 million accounts later, Coinbase is still one of the world’s prominent crypto companies. The company is estimated to top a whopping $800 million in revenue this year. And the company holds assets worth 21 billion dollars. Coinbase is the blue-chip among dozens of cryptocurrency exchanges, with a portfolio that’s impeccable both in numbers and services. Launched in 2012, Coinbase is a popular crypto exchange that allows users to buy, sell, store and manage their cryptocurrency portfolio. As of now, Coinbase deals with the trading of 20+ cryptocurrencies. Some of the features provided by Coinbase include recurring buys, vault protection, and mobile apps. The company has also announced that it would be issuing its credit cards in the future.
- Silvergate Capital corp
Silvergate is the first of the high profile banks to open accounts for cryptocurrency exchanges. Silvergate Capital is a California-based pro-crypto commercial bank that offers innovative financial solutions and services to the crypto industry. The bank now serves about 750 cryptocurrency businesses, including some big names like Coinbase, Kraken, Gemini, etc. Their deep understanding of the digital currency market and their commitment to business development within the space has helped them gain the trust of leaders in the industry. Their Silvergate Exchange Network (SEN) is a global payment platform from Silvergate. It enables investors to move funds to cryptocurrency exchanges 24 hours a day, seven days a week, 365 days a year. The transfer can be done via their API or online banking portal. The SEN has improved the process of trading digital assets by reducing time and cost. In 2020 alone, the Silvergate Exchange Network handled 31,405 transactions. SEN has helped Silvergate to rise to the top and become a leading financial services provider for businesses in crypto.
Square is an American financial services company. It functions as a payment aggregator and a mobile payment company that helps people grow their business. From Bitcoin payments to inventory tracking, Square offers a full suite of merchant payment services that are effective and easy to use. Their most popular product is the Cash App. With over 30 million monthly active users, the Cash App facilitates buying bitcoin and digital payments. This year the App acquired $1.92 billion in revenue, out of which $875 million was from Bitcoin. Although the App had only enabled Bitcoin buying in November 2017, it has grown to become a dominant player in the space in such a short period. You can also set up an automatic recurring purchase of Bitcoin through CashApp.
- Intercontinental Exchange
Intercontinental Exchange Group, Inc. is the leading network of regulated exchanges and clearing houses for financial and commodity markets. It delivers data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext. Currently ICE holds assets worth over $100 billion. In 2019, Intercontinental Exchange, the world’s second-largest exchange group by market value, launched Bakkt, a platform for institutional investors to buy, sell and store their digital assets. Their vision was aimed at bringing trust and transparency to the crypto space. Bakkt offers users instant liquidity and allows them to collect, convert, and pay with their digital assets on a global network. The platform is loaded with features such as custodial services, derivatives, crypto trading, payments, loyalty and merchant products.
- Galaxy Digital
Galaxy Digital is a diversified financial service and investment management company. Specifically, they provide trading, asset management, and investment banking services. They invest in many blockchain and crypto-related companies. Seeing Galaxy Digital on this list may come as a surprise since the last two years were not kind to the merchant bank. However many investors believe the company is currently undervalued. In fact, 2020 turned out to be a good year for them as the company reported an increase of $38.5 million in revenue. In addition, they recently acquired two cryptocurrency trading firms: Drawbridge Lending and Blue Fire Capital. It also holds significant stakes in blockchain startups such as Ripple, BlockFi, Ciphertrace, and many others.