Coinsquare trading platform secures bond with a Big 5 Canadian bank  24157
News
Ashmita Dutta
Sep 27, 2018 at 9:00 PM

Coinsquare, a Canada based crypto exchange makes headline for securing a bond with a Big 5 Canadian financial institution. On Thursday, the state's top most trading platform has announced about this new relationship, however, it has not disclosed the name of the bank among the top 5. The Big 5 banks include Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD), Bank of Nova Scotia (Scotiabank), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CIBC). The development ushers international growth of Coinsquare and would also trim the withdrawal and depositing procedures of the users' funds.

This official bonding has formed at a time when the trading platform accomplished its third party financial auditing. This made Coinsquare the sole digital asset platform who successfully completed this procedure. These two major events occurred back to back and they are likely to give an impetus to the platform. An ''unmodified opinion'', upholding absence of manipulation of financial data, is expressed by the national accounting firm. The financial statement and data provided by Coinquare are "free from material misinformation," assured the firm.

Statements

Ken Tsang, Coinsquare Chief Financial Officer in his official statement referred to both the events stating that they will "push forward on our vision to be the most trusted cryptocurrency platform in the world."  Coinsquare CEO Cole Diamond is optimistic that the new relation will not only boost the Canadian cryptocurrency exchange but will have a positive impact on the country's crypto industry, as a whole.

"This announcement is one of many examples of how institutional third party partners put their faith in our approach to the cryptocurrency business. We're thrilled to start a relationship with a major Canadian bank and we're excited for what it means for our users," Cole commented.

Since the beginning of this year, Coinsquare has witnessed an exponential growth with LinkedIn ranking it second in the list of top Canadian start-ups. The ranking is calculated by this professional network site on the basis of the information provided by its 575 million user base.

 

See also: Coinsquare makes its foray into the ETF arena, launches two new funds 

See also: Coinsquare to set up shop in Europe by Q4 as part of global expansion

Image via Google

Join our Telegram group