London has always been a city of innovation, and now it’s becoming a major hub for blockchain startups. From finance to gaming, new companies are using blockchain technology to change the way we do things. These startups, founded in 2020 or later, are exploring all the ways blockchain can be used. Here are some of the most exciting blockchain startups in London that you should know about.

Key Takeaways

• London is emerging as a major center for blockchain and cryptocurrency startups.
• These startups cover a wide range of industries, including finance, gaming, and big data.
• Many of these companies were founded in 2020 or later, showing rapid growth in the sector.
• London’s rich ecosystem of tech talent and venture capital supports these innovative startups.
• Blockchain technology is being used to revolutionize traditional industries.

Blockchain.com

Blockchain.com is a major player in the blockchain space, known for being the backbone for crypto transactions. Founded in 2011, this London-based startup has grown to become one of the most trusted platforms for buying, selling, and managing cryptocurrencies. They offer a wide range of services, including a popular cryptocurrency wallet, an exchange, and various blockchain explorer tools.

Key Features

• Cryptocurrency Wallet: Blockchain.com provides a secure and user-friendly wallet for storing various cryptocurrencies.
• Exchange: Their exchange platform allows users to trade a wide range of digital assets with ease.
• Blockchain Explorer: This tool enables users to explore and verify transactions on the blockchain, ensuring transparency and trust.

Environmental Sustainability

Blockchain.com is also focusing on making blockchain technology more environmentally sustainable. They are exploring greener consensus mechanisms like Proof-of-Stake (PoS) to reduce the carbon footprint of blockchain operations. This aligns with the broader global movement towards sustainability and environmental responsibility.

Blockchain.com is not just a platform; it’s a pioneer in the blockchain industry, continually pushing the boundaries of what’s possible in the world of digital finance.

Copper

Copper, based in London, is a top digital asset technology company. They help big investors safely buy, trade, and store cryptocurrencies and other digital assets.

Copper’s award-winning custody solution uses advanced Multi-Party Computation (MPC) technology. This tech makes sure no single party holds the private keys, making it much safer than traditional methods. Their ClearLoop product secures trades and allows instant settlement without pre-funding exchanges. Their trading engine also offers advanced order types, aggregation tools, and algorithmic trading features.

Copper has raised a total of £42.3m in equity funding over four rounds. Their latest round brought in £25m, led by Alan Howard. Other investors include Dawn Capital, Illuminate Financial Management, LocalGlobe, MMC Ventures, and angel investors. The company was also named in the Forbes Blockchain 50 2022.

Copper is one of the fastest-growing blockchain companies in London, making it a key player to watch in the industry.

Elliptic

Elliptic is a London-based startup that focuses on making crypto assets safer and more transparent. They use blockchain analytics to help financial institutions and cryptocurrency businesses detect and prevent criminal activities. Since its inception in 2013, Elliptic has grown from a simple Bitcoin storage service to a comprehensive blockchain analysis provider.

Key Highlights

• Founders: James Smith, Tom Robinson, Adam Joyce
• Funding: $100 million
• Last Funding Round: Series C
• Address: 35, 37 Ludgate Hill, London EC4M 7JN, UK

Achievements

• Ranked #1 in Deloitte’s Technology Fast 50 for 2023.
• Recognized by the World Economic Forum as a Technology Pioneer.
• Manages 66% of all crypto volume exchanges globally.

Services

Elliptic offers a range of services including blockchain analytics, certifications, regulatory compliance, and financial management. Their technology helps trace illegal Bitcoin transactions and identify ransomware attacks, making the crypto ecosystem safer for everyone.

Elliptic’s cutting-edge technology and expansive database provide the insights needed to navigate the complex landscape of cryptocurrency with confidence and compliance.

Zamna

Zamna is a leading UK blockchain startup that focuses on creating a secure identity data management system for both organizations and individuals. Their main goal is to make sure your identity information moves smoothly and safely, especially when traveling around the world.

Using blockchain technology, Zamna has developed applications that allow for digital identity verification. This means you can share your digital ID securely across different platforms. For instance, when traveling internationally and checking into hotels, you won’t need to show your physical passport. This is the kind of innovative solution Zamna is bringing to the table.

They are also extending this concept to the healthcare sector. Imagine having your health status verified digitally without worrying about your information being mishandled or leaked.

Zamna recently raised $5 million and started working with Emirates and the UAE’s General Directorate of Residency and Foreigners Affairs (GDRFA). This collaboration aims to improve the check-in and transit process for travelers at Emirates airports, making the experience smoother and more efficient.

As one of the top UK blockchain startups, Zamna is using technology to transform how we manage and share identity information, making travel and healthcare more secure and efficient.

Adhara

Adhara collaborates with large corporations and financial institutions to manage liquidity and international payments for decentralized financial networks. Their solutions include multi-currency payment processing, foreign exchange (FX), and international payments using tokenized money over smart contracts.

In 2021, Adhara was honored as a Technology Pioneer by the World Economic Forum. Additionally, their CEO was recognized as one of the top 25 blockchain technology CEOs of 2020 by Technology Innovators Magazine.

The company recently raised $7.5 million in Series A funding from investors like Yabeo and FOMCAP, bringing their total equity fundraising to around $14 million. In 2023, Adhara launched its Liquidity platform, which is already being utilized by several decentralized financial networks.

Adhara is making significant strides in the blockchain space, particularly in the realm of decentralized finance, by providing innovative solutions for liquidity management and international payments.

Argo Blockchain

Argo Blockchain is the first and only cryptocurrency mining company to gain admission to the London Stock Exchange through a standard listing. The company is publicly traded now and focuses on large-scale cryptocurrency mining.

Argo Blockchain has state-of-the-art mining facilities with cutting-edge equipment and highly energy-efficient machines. Their focus is on creating affordable consumer services for crypto mining to channel in as many consumers as possible. This startup is one of the only blockchain technology development companies in the UK that has become ‘climate positive’ for Scope 1, 2, and 3 greenhouse gas emissions.

The total equity funding it has raised amounts to $24.4 million. In July 2023, Argo announced a private placement and public sale to raise $10 million. Proceeds were used to pay down debt and potentially expand operations.

Travala.com

Travala is a standout among UK crypto companies, pushing boundaries in the travel industry. This platform allows users to book over 3 million travel products worldwide using their favorite cryptocurrencies. Launched in 2017, Travala has quickly risen in popularity, offering a seamless booking experience powered by blockchain technology and smart token incentives.

Travala’s unique approach makes travel more accessible and inclusive. By leveraging blockchain, it enables secure, peer-to-peer transactions, bypassing the complexities of traditional booking systems.

Covering more than 2,200,000 properties and 90,124 destinations across 230 countries, Travala offers travelers prices up to 40% lower than other platforms. This demonstrates how UK blockchain companies like Travala are using technology to make real improvements in everyday life.

Travala is not just about technology; it’s about making travel easier and more affordable for everyone.

Cudos

Cudos is a next-generation cloud platform developed by Cudo. It connects consumers of cloud computing to providers who want to make money from their unused hardware. This platform is powered by the CUDOS Token, allowing Cudo to offer computing power at a fraction of the usual cost—up to ten times cheaper.

With the ever-growing demand for computing power across various sectors—from video rendering to medical research—Cudos provides a solution by tapping into external hardware resources. This opens up the world of computing resources to everyone, offering regular users a chance to earn extra cash by sharing their unused computing power. Additionally, it helps build a greener and more efficient cloud system.

On the business side, Cudos is like finding a treasure trove of affordable computing power without being tied down by the usual big cloud companies. But there’s more to Cudos than just swapping computing power. They are also creating a dynamic world of decentralized apps (dApps), each leveraging what makes their platform unique. This includes everything from gaming platforms that aren’t controlled by a single entity to secure spots for storing digital assets.

Cudos is a layer 1 blockchain and layer 2 community-governed compute network, making it a versatile and innovative player in the blockchain service marketplace.

Fetch.ai

Fetch.ai, originally founded in Cambridge, UK, is an exciting company operating at the intersection of Artificial Intelligence (AI) and blockchain technology. Fetch.ai’s core technology revolves around building and developing the Fetch.ai Network, a permissionless, open-source DAN powered by their Fetch token (FET). This network fosters collaboration and coordination between AI agents, facilitating autonomous transactions and smart contracts.

It has raised an estimated $26 million in funding over three rounds and four years of operation. Its backers include GDA Group and Outlier Ventures. Also Fetch.ai partnered with Bosch, a leading provider of automotive and industrial technology, to explore the application of their AI and DAN technology in the automotive industry.

Fetch.ai faces competition from other blockchain-based AI projects and established players in the AI and autonomous systems domain. However, their unique focus on DANs and agent-based solutions provides them with a potential competitive advantage.

SETL

SETL is a standout startup in the blockchain world, known for its fast and secure solutions in financial settlements, asset management, and payments. It’s not just about speed, though that’s a big part of it, with the platform handling up to 30,000 transactions every second. This means things get done fast, without skimping on the security you’d expect from traditional banks. Plus, its system is tough – it keeps running smoothly even if some parts go offline. Since its inception in 2015, SETL has rapidly grown its clientele and continues to draw significant media attention. Esteemed organizations like Citibank, Deloitte, and Orange place their trust in SETL, which has successfully raised approximately $39 million in funding.

In a notable move in 2024, SETL launched an ongoing blockchain test network through its LedgerSwarm software for the Regulated Liability Network (RLN). It is an initiative that unifies various regulated monetary forms – including tokenized deposits, central bank digital currencies, and regulated stablecoins – with tokenized assets.

The UK really stands out as a special place for growing and developing businesses in the blockchain world. It’s got this great mix of supportive government rules, easy access to funding, and a strong entrepreneurial culture.

Conclusion

London is proving to be a powerhouse for blockchain innovation, with startups across the city pushing the boundaries of what’s possible. From finance to gaming, these companies are not just participating in the blockchain revolution; they are leading it. The rich ecosystem of talent, investment, and supportive regulations makes London an ideal place for these startups to thrive. As we look to the future, it’s clear that London will continue to be a major player in the blockchain space, driving forward new technologies and applications that will shape industries worldwide. Keep an eye on these innovators—they are the ones to watch.

Frequently Asked Questions

What is blockchain technology?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. It is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

Why is London a hub for blockchain startups?

London has a rich ecosystem of technology talent, venture capital, and a supportive regulatory environment, making it a prime location for blockchain innovation. Its established financial sector also provides a strong foundation for blockchain applications.

What industries are London-based blockchain startups focusing on?

London-based blockchain startups are exploring a variety of industries including financial services, FinTech, AI, machine learning, supply chain management, and digital assets.

How does blockchain benefit supply chain management?

Blockchain provides greater transparency, traceability, and security in supply chain management. It helps in tracking goods, verifying authenticity, and ensuring ethical sourcing, which enhances efficiency and trust within the supply chain.

What are Non-Fungible Tokens (NFTs)?

NFTs are unique digital assets that represent ownership of a specific item or piece of content, often used in art, gaming, and real estate. Unlike cryptocurrencies, NFTs are not interchangeable as each one has a distinct value.

How are blockchain startups funded?

Blockchain startups often receive funding through venture capital, private investors, and sometimes through Initial Coin Offerings (ICOs). Successful startups like Blockchain.com have raised significant amounts of capital from various investors.

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