BlockEQ Wallet- A New Acquisition by Coinsquare Exchange

BlockEQ Wallet- A New Acquisition by Coinsquare Exchange

December 7, 2018

Coinsquare Crypto Exchange Amass BlockEQ Stellar Wallet

Coinsquare is a Canadian crypto exchange looking to explore its offerings beyond cryptocurrency trading. Usually, traders know this platform as a nickname- “Coinbase of Canada”. This deal was declared on Dec 6, saying that it pays $12 million CAD around (~$9 million USD) to earn the BlockEQ wallet.

BlockEQ touts itself as a 21st-century financial institution and is a non-custodial, secure, private wallet. Moreover, it let crypto users store stellar XLM along with other tokens operating on a stellar network. Currently, this crypto exchange takes a second-largest position providing CAD trading pairs, following LakeBTC.

Considering all exchange platforms, Coinsquare takes the 73rd ranking incorporating $7 million as per daily trading volume. Though, this acquisition gives Coinsquare a foothold towards stellar ecosystem.  However, a foundation is ongoing with plans to provide leveraging products and services via stellar Network.

The CEO at Coinsquare, Cole Diamond says that they have deep respect for the BlockEQ team that they are driving to Coinsquare. Meanwhile, he continues,

They are one of Canada’s best tech teams, and the product they’ve built is immensely valuable. That combination in partnership with Coinsquare’s technology and team means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond.

The CEO at BlockEQ, Satraj Bambra shows excitement to join the Coinsquare umbrella. Moreover, he believes Coinsquare is a reason to initially grab interest in the cryptocurrency space. Also, when they saw that Cole and team are approaching us to come on board, this might be a natural next step.

Coinsquare as a crypto platform is already initiating to explore internationally. They are forming cross-border collaborations with institutions including DLTa21, a Japanese startup. Additionally, the platform also provides a helping hand for launching an ETF investing in blockchain industry.

Do you use Coinsquare exchange? What do you think about this platform purchasing BlockEQ wallet? Share your thoughts and debate the big issues on Twitter.

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