Canada-based Coinsquare exchange becomes new owner of StellarX platform

Posted 15 February, 2019

The major Canadian crypto trading platform Coinsquare has announced an acquisition of the decentralized exchange StellarX, following the previous purchase of the wallet BlockEQ.

The background for the purchases is believed to be prepared back last December, when the company acquired Stellar-based wallet, as the company press release reads. Coinsquare noted that the current deal is obviously good development after the last-year purchase. BlockEQ wallet is said to be reworked to become the main feature of the DEX platform.

"We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key", said in the press release Cole Diamond, CEO of Coinsquare 

The StellarX is based on the Stellar protocol, which means that the exchange can offer trading of both fiats and digital currencies which hardly can be found at the bulk of the decentralized platforms presented in the market. At the same time, the project is not going to feature custodian instruments, while the deposits can be made via accounts in the US banks.

 “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”, Coinsquare added.

Notably, the platform has no access to users' assets.

The StellarX spokesperson commented that the Canadian exchange is perfect choice for their business citing the leading position of the platform, its relationships with the regulatory authorities in Canada, the USA as well as Europe and the experience with Stellar.

The platform will be headed by the co-founder of BlockEQ project Megha Bambra. According to the available data, the exchange will run under its original brand. The parent company is going to register StellarX on the Bermuda Islands.

Previous story

15 February, 2019 14:07

← Fairfax County discloses details about investments in Morgan Creek crypto fund

Fairfax County Retirement Systems from Virginia has unveiled some details about the investments made by two local public pension funds in the new Morgan Creek's $40 million fund that is designed to deal with the blockchain and cryptocurrencies. The investments came from Employees’ Retirement System and Police Officer’s Retirement Systems reaching $10 million and $11 million (0.3% and 0.8% of their available assets) respectively. 

Fairfax County discloses details about investments in Morgan Creek crypto fund

Next story

15 February, 2019 11:41

US Court eventually issues temporary ban on Blockvest business for sales of unregistered token →

On February 14, US District Court for the Southern District of California issued a temporary ban on Blockvest LLC operations charging fraud connected with a securities offering. As a result, the court actually revised its previous decision made in late 2018. The court prohibited the defendants to perform any activities involving the fraudulent offering or sale of securities, violating federal securities laws. 

US Court eventually issues temporary ban on Blockvest business for sales of unregistered token
Write a comment
 
Prove you’re not a bot + 6 = 23