Canadian Cryptocurrency Exchange Coinsquare Acquires Crypto Platform StellarX

News | February 15, 2019 By:

Coinsquare, Canada’s largest crypto trading platform, has acquired StellarX, a peer-to-peer wallet with global fiat gateways.

StellarX claims to be the world’s first fee-less, decentralized marketplace based on Stellar. It offers trading of a range of assets including cryptocurrencies from multiple blockchains, using Stellar Lumens (XLM) as the base currency. The platform permits its users to trade directly from their own wallet, and one can deposit or redeem off-chain assets.

With acquisition, StellarX will become a wholly owned subsidiary of Coinsquare, but it will continue to operate and grow under its own brand. It will apply with regulators in Bermuda to become licensed to operate and scale its offering under Coinsquare’s compliance leadership.

“We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key”, said Cole Diamond, CEO of Coinsquare. “Stellar is the fastest payment network in the world and we see enormous potential to create industry leading services on StellarX to further broader adoption.”

In December 2018, Coinsquare acquired cryptocurrency wallet BlockEQ to help its users connect further with the world of cryptocurrencies. BlockEQ will now be rebranded to become the anchor wallet for the StellarX platform.

“Megha Bambra, BlockEQ co-founder, will now lead StellarX,” Coinsquare said. “Megha and her new team of Toronto-based developers will continue to build out the product roadmap announced by Stellar last fall.”