This week brought an exciting announcement from Canada’s leading cryptocurrency exchange. Coinsquare announced their imminent expansion to Europe.
Access to the platform is expected to be made available for Europeans by the end of 2018. This access will not be stripped down. Users of the platform will be able to take full advantage of the current suite of cryptocurrencies supported.
Speaking on the expansion, Coinsquare CEO Cole Diamond commented, “Entering on a massive market like the EU is an exciting step closer to Coinsquare’s vision of becoming a global 21st century financial institution…Already the premier cryptocurrency exchange in Canada, we are careful in how we expand internationally to ensure we can offer the same high quality, secure service in every country we operate.”
In addition to this, there will be the option of a XRP-FIAT trading pair. This is yet another step to lowering the barrier of entry into cryptocurrencies. We have seen in recent months multiple leading exchanges being to offer FIAT based trading pairs. In the past many have been hesitant to enter crypto, because they felt as though they would not be able to convert their money to FIAT and realize their profits. This is now actively changing.
News of this expansion comes after months of its talk. Not only is Coinsquare planning on expanding to Europe, but to Asia and the United States as well. In July the company developed a partnership with DLTa21 – a blockchain bank based out of Japan.
Plans for these further expansions are expected to be funded by the up-coming IPO of Coinsquare. In this sale, they are planning to raise $120 million to fund these ventures. Speaking with Bloomberg regarding the IPO, Cole Diamond stated, “We’re racing, but racing to do it right….we’re going to take the old-school route as an IPO to the Toronto Stock Exchange.”
How’d they get here?
Coinsquare was founded in Toronto in 2014. Since then, they have steadily expanded the services that they offer to the public. In doing so they have found themselves a leader in the Canadian cryptocurrency market.
Along the way the company has ensured that they remain a trustworthy institution. They intend to uphold the same standards that they have held themselves to in the past. In their press release, the Coinsquare Chief Digital of Growth Officer, Thomas Jankowski, stated, “Cryptocurrency investors globally want a platform they can trust…Coinsquare is a regulated, fully-compliant trading platform and we’re thrilled to offer the European market the same secure and intuitive interface that we offer to Canadians.”