Following the acquisition of BlockEQ in Dec., 2018 by CoinSquare, Canada’s largest cryptocurrency exchange, the latter has now gone ahead to acquire decentralized Crypto Platform, StellarX.
In a statement released on February, 14, Bermuda-based StellarX will be a complete subsidiary of Coinsquare, and will also seek license to enable it function and extend its services.
The Chief Executive Officer of CoinSquare, Cole Diamond, while expressing delight at the acquisition, said: “We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key.”
“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,” he added.
Recall that Coinsquare announced in early 2019 that it raised $30 million in equity financing, in a deal which was led by financial services firm, Canaccord Genuity.
The investment company said at the time, that it “will be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers’ needs.”
More so, BlockEQ is being tipped to be rebranded, in a bid to become the anchor wallet for the StellarX platform.
StellarX which is the first full-featured trading app for Stellar’s universal marketplace, will operate as a true decentralized exchange and managed by Megha Bambra, co-founder of BlockEQ.