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Cryptocurrencies

Crypto exchange Coinsquare acquires Stellar wallet BlockEQ

Friday 7 December 2018 | 01:11 PM CET

Crypto exchange Coinsquare, known as the ‘Coinbase of Canada’, has acquired Stellar wallet BlockEQ in order to expand its offerings beyond cryptocurrency trading.

Coinsquare revealed it had paid USD 12 million CAD, equivalent of approximately USD 9 million, to acquire BlockEQ, a non-custodial wallet that allows crypto users to store XLM and other tokens that run on the Stellar network. With this acquisition, Coinsquare gains a foothold in the Stellar ecosystem, a foundation which it plans to leverage to provide products and services using the Stellar Network.

Moreover, the crypto exchange has begun to expand internationally, forming cross-border partnerships with companies including Japan-based startup DLTa21. It also helped at the launch of an exchange-traded fund (ETF) that invests in blockchain industry companies.

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