xTAO Lists on Canada’s TSX Venture Exchange After $22.8M Raise to Power Decentralized AI
xTAO, a key infrastructure provider for the Bittensor network, made its trading debut on Canada’s TSX Venture Exchange, marking a significant step in its mission to support the growth of decentralized artificial intelligence (AI). The listing follows a $22.8 million capital raise from institutional investors including Animoca Brands, Digital Currency Group (DCG), and others.
The company plans to use the funds to expand its validator operations and build production-grade tools and services on top of Bittensor’s open AI protocol. The move comes amid growing market enthusiasm for decentralized AI, with xTAO positioning itself as a core infrastructure layer for the ecosystem.
xTAO’s public debut comes just days after fellow listed company TAO Synergies announced a $10 million purchase of the TAO token. While TAO Synergies has made the move as part of its treasury allocation strategy, xTAO’s focus is on scaling validation and operational capacity within the Bittensor network.
“Our public listing and fundraising milestone reinforce our vision to accelerate decentralized AI innovation,” said Karia Samaroo, founder and CEO of xTAO. “With Bittensor quickly emerging as the ‘Bitcoin of AI,’ xTAO is ideally positioned to capitalize through validator growth and the strategic use of TAO as a treasury reserve.”
The TAO token, native to the Bittensor protocol, is currently trading above $440—up 5.5% over the past 24 hours—outpacing broader crypto benchmarks like the CoinDesk 20 Index, which remained flat.
Analysts say investor appetite for AI-focused digital assets continues to rise as decentralized platforms offer new avenues for participation—especially as traditional access to AI startups becomes increasingly restricted. With growing institutional interest, xTAO’s public listing highlights the accelerating convergence of crypto infrastructure and artificial intelligence.
