Coinsquare acquires StellarX decentralized exchange
Canadian crypto exchange Coinsquare acquires StellarX decentralized trading platform.
As the company explained in a press release, the purchase of StellarX was the next logical step after the acquisition of BlockEQ’s Stellar wallet last year, which will undergo a rebranding and become a key element of the decentralized platform..
The StellarX exchange uses the Stellar protocol and allows you to trade both digital and fiat currencies, which distinguishes it from most existing decentralized platforms. Customers are encouraged to use American bank accounts to deposit fiat on the exchange.
BlockEQ co-founder Mega Bambra will lead StellarX to lead further platform development in line with the roadmap. StellarX will retain the original brand, and Coinsquare intends to license the decentralized platform in Bermuda, where it is registered.
“We are deeply interested in the prosperity of the cryptocurrency markets. Diffusion of technology is key to achieving this goal. Stellar provides the world’s fastest payment network. We see tremendous opportunities to create leading services in this industry with StellarX, ”Cole Diamond, CEO of Coinsquare said..
A year ago, Coinsquare raised $ 30 million, which it pledged to spend on “fulfilling its global growth plan and diversification strategy aimed at making the platform even more responsive to a wide range of customers.” In early February, the company was forced to lay off 40 employees.
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