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The acquisition was closed for $ 12 million CAD and brings the main cryptocurrency portfolio on
the star platform in the Coinsquare ecosystem
TORONTO, 6 December 2018 / PRNewswire / – Today Coinsquare, of Canada premier cryptocurrency trading platform for the trading of Bitcoin, Ethereum and other cryptocurrencies, has announced that it has acquired BlockEQ, the main cryptocurrency portfolio on the Stellar network. Coinsquare bought BlockEQ for $ 12 million CAD and will use BlockEQ technology to help Coinsquare and its users to further connect with the world of cryptocurrencies.
"We have enormous respect for what the BlockEQ team brings to Coinsquare," he said Cole Diamond, CEO of Coinsquare. "I'm one of of Canada the best technology teams and the product they have built has immense value. This combination in collaboration with the Coinsquare technology and team means we have the opportunity to build amazing things for the cryptocurrency community in Canada and much further. "
BlockEQ, which was co-founded by Jonathan Lister, Megha Bambra and Satraj Bambra, is a cryptocurrency portfolio that allows users to buy, exchange and store cryptocurrencies securely. It allows the tokenization of cryptographic resources to allow them to move on the star network, at a fraction of the cost of moving any other resource in the world, with an almost instantaneous settlement. Their innovative technology implies a greater acquisition by users and an incredible ability to climb the world of cryptocurrencies in rapid maturation. Coinsquare and BlockEQ will work to launch a huge number of cryptographic resources together, no more noticeable in the short term than an upcoming Coinsquare stable currency.
"We are thrilled to work under the umbrella of Coinsquare," said Satraj Bambra, CEO of BlockEQ. "Coinsquare was the reason that initially we were interested in the cryptocurrency space, so when Cole and the team approached us for coming on board, it seemed like a natural next step".
BlockEQ will remain its own entity, operating as a subsidiary of Coinsquare while the company continues to diversify its business lines and is set to become a 21st century financial institution. At the start of this year, Coinsquare announced the launch of Coincapital, the portfolio and management division of investment funds of the trading platform; and was recognized by LinkedIn as the fastest growing company in the Top Canadian Startup ranking, based on the growth of 92% of the company from July 2017 to June 2018.
To learn more about Coinsquare, visit coinsquare.com. To learn more about BlockEQ, visit blockeq.com.
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About Coinsquare
Coinsquare is of Canada premier cryptocurrency trading platform for the trading of Bitcoin, Ethereum and other cryptocurrencies. Since our foundation in 2014, we have never lost a coin.
Remaining firmly focused on transparency, risk mitigation and the construction of an open-minded culture, Coinsquare is set to become a multinational financial services company anchored in blockchain technology.
SOURCE Coinsquare
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