Coinsquare to set up shop in Europe by Q4 as part of global expansion
Canadian crypto exchange Coinsquare on Thursday said it plans to venture into the European market by the fourth quarter of this year. This marks the exchange’s first ever international expansion under the Coinsquare brand.
Once the expansion is complete, crypto users in Europe will be able to access the exchange’s entire suite of digital coins including Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH].
“…we are careful in how we expand internationally to ensure we can offer the same high quality, secure service in every country we operate,” said Cole Diamond, CEO of Coinsquare, in a statement.
However, this is not the first time that the trading platform has ventured into other global markets. Most recently, the exchange had partnered with crypto investment bank DLTa21 to launch a centralized trading platform for digital currencies in Japan.
The exchange said that plans were in place to expand to other Asian countries as well.
Coinsquare on a roll
The trading platform has been subject to many positive developments in recent days. The exchange recently announced the launch of Coincapital – a multi-manager crypto hedge fund – which manages a portfolio of over 40 virtual currencies.
The exchange also launched Coinsquare Licensing, which focuses on powering crypto trading solutions globally, which led to the DLTa21-partnership in Japan.
Coinsquare is reportedly also planning a $120 million initial public offering (IPO) on the Toronto Stock Exchange, according to a Bloomberg report early this year. The proceeds from the IPO, expected to take place next month, will be used to help finance an overseas expansion.
“We believe that we will be a strong competitor to Coinbase and other exchanges in the U.S. by the end of the year,” Diamond told Bloomberg.
At the time of writing, the exchange saw daily trading volumes of $8.6 million, according to CoinMarketCap. The platform is currently ranked 68th in terms of daily trading volumes.
Image via Coinsquare
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