Riot Blockchain, Inc. (NASDAQ: RIOT) Investments Solidify Effort to Build Decentralized Tech Platforms

  • Company’s investments in Verady, Coinsquare and TessPay among recent work to increase security for transactions
  • Blockchain, cannabis sectors accounted for nearly 10 percent of rising daily activity for TD Ameritrade in 4Q2017
  • Estimated $10 billion in cryptocurrency transacted each day

Riot Blockchain, Inc. (NASDAQ: RIOT) is advancing its focus on the rising blockchain technology and its cryptocurrency applications, as exemplified by its November announcement of its strategic investment in Verady, LLC, a company that provides accounting, auditing and verification for blockchain-based assets such as cryptocurrencies (http://cnw.fm/lNMe5). The strategy paid off with news that Riot Blockchain’s stock surged from $7 in November to more than $46 in a month, and the company remains committed to gaining “exposure to the blockchain ecosystem through targeted investments in the sector.”

Riot’s primary focus is on the bitcoin and Ethereum cryptocurrencies, and the company owns a share in Coinsquare, a Canada-based cryptocurrency exchange, as well as a majority share in TessPay, which serves as a blockchain-enabled payment vehicle for wholesale telecom carriers. Despite fluctuations in the value of bitcoin as the stock reached stratospheric levels following a hard-charging yearlong rally, and amid ongoing concerns in some sectors that its value is…

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