Coinsquare Looks To Europe As International Expansion Begins
Canadian cryptocurrency exchange Coinsquare will soon be expanding its services to the European market. The exchange revealed that its services will be available to the European market in the fourth quarter of this year.
The move by the top exchange in Canada comes at a time when the market is experiencing one of the most bearish periods in recent months.
Despite these rough times, exchanges have been one of the fastest expanding sectors of the crypto industry. As such, Coinsquare’s move is in line with similar global trends, most recently by U. S based Bittrex.
According to the announcement, the exchange will allow its clients access to the top cryptocurrencies. Users will be able to trade top coins like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dash.
Even more importantly, the firm added Ripple (XRP) as one of the fiat trading pairs on its site. It adds significantly to the platform’s liquidity.
Coinsquare has also announced the new market will access the same premier services it allows current customers.
The company’s Chief Digital and Growth Officer Thomas Jankowski said;
“Coinsquare is a regulated, fully-compliant trading platform and we’re thrilled to offer the European market the same secure and intuitive interface that we offer to Canadians.”
Coinsquare has been in operation since 2014, steadily establishing itself as the leading crypto exchanges in Canada.
It is particularly popular for offering services much similar to those of Coinbase in the USA, including fiat to crypto trading for top digital assets like BTC and ETH.
Venturing out into Europe marks the first time Coinsquare is looking to offer services on its trading platform to an international customer base.
However, it is not a first for the company in terms of going international. In July, the Canadian exchange partnered with Japanese firm DLTa21.
Partnering the Japan-based crypto investment bank allowed Coinsquare the opportunity to launch a new cryptocurrency exchange tailor-made for the Japanese market.
Coinsquare CEO Cole Diamond added;
“Entering on a massive market like the EU is an exciting step closer to Coinsquare’s vision of becoming a global 21st-century financial institution.”
He added that as a top cryptocurrency exchange in the country, they had to be careful in their international expansion efforts to ensure that what they offer remains to be of high quality and secure.
Coinsquare has not indicated which countries it will operate from as it launches into Europe. However, there is a likelihood it will choose one of the crypto-friendly countries like Malta, and Switzerland.
These countries are some of the most cryptocurrency-supportive in the world, encouraging blockchain technology and related digital assets. It is, therefore, more likely that the Canadian firm will find doing business in one of them much easier.
There is a market-wide drive by exchanges to continue expansion activities, despite most of it suffering from a bearish 2018. Many coins have lost more than 70 percent of their value since January.
However, that has not stopped exchanges like Binance, Coinbase, and Bittrex from expanding their business.
The leading cryptocurrency exchange in Canada has also embarked on similar expansion efforts. For example, the company recently announced the launch of a subsidiary Coin Capital Investment Management.
It will offer an investment fund manager and portfolio manager that provides for a number of attractive products based on the blockchain, crypto assets, and artificial intelligence (AI).
At the moment, Coinsquare continues to be the premier exchange in Canada. Its main attraction is QuickTrade, a feature that allows instant trading between currencies. Users can easily trade CAD to Bitcoin or Bitcoin to Ethereum instantly.
The services are also available on mobile, both on Android and iOS.