Coinsquare, one of the largest digital currency trading operations in Canada, announced the next phase of its bid as a worldwide crypto exchange, which will be opened for companies in the European Union in the fourth quarter of 2018.
Coinsquare, also known as Canada & # 39; s Coinbase, said Thursday in a statement that customers throughout Europe have access to the entire package of coins. At the moment it supports trading in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, Dogecoin and Dash. Coinsquare stores most of its assets in so-called cold storage, which uses offline servers to prevent theft.
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The Toronto-based stock market claims $ 5 billion a year in cryptocurrency transactions and more than 100,000 customers. The company raised $ 23.63 million in a financing round earlier this year and is targeting a $ 120 million IPO in September to help finance overseas expansion.
The trading platform is also conquering Asia because it intends to open a new cryptocurrency exchange in Japan. The move, which is accompanied by a partnership with blockchain investment bank DLTa21, is because Japanese regulators are investigating such exchanges in the country after hackers have stolen millions in the world's largest cyberheists.
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Coinsquare expressed confidence that its business would run smoothly, as the new partnership combines its crypto platform technology with "DLTa21"'s Japan and Canada-based team of experts in trading, compliance and blockchain / distributed ledger technologies (DLT). ). "
Prospects of lucrative business
Europe is seen as a global cryptocurrency hub, and with the exponential increase in last year's prices, the number of market participants also increased.
In general, 2017 was a turning point for the virtual asset class in Europe. A recent survey showed that one in three German millennials, which currently has no exposure to cryptocurrencies, would consider including the digital asset class in their investment portfolios. % consider seriously investing in a digital currency by the end of 2018, the study found.
Cole Diamond, CEO of Coinsquare, said of the news: "Entering a huge market such as the EU is an exciting step closer to Coinsquare's vision of becoming a global financial institution of the 21st century." All the best cryptocurrency- exchanges in Canada, we are cautious about how we expand internationally to ensure that we can provide the same high quality, secure service in every country where we operate. "