Coinsquare, a leading Canadian cryptocurrency exchange, announced on August 23, 2018, its plan to expand into the European market during the fourth quarter of the year. This is the first time the exchange is expanding internationally under its own brand, following previous efforts through partnerships with other companies.
Full Suite of Crypto Services for Europe
The exchange stated that customers across Europe will have access to its entire suite of coins: bitcoin, bitcoin cash, ethereum, litecoin, XRP, dogecoin, and dash. Founded in 2014, Coinsquare claims to be “Canada’s most secure digital currency trading platform” with a 95% cold storage policy. The platform currently serves over 100,000 customers.
According to its website, Coinsquare supports trading for seven cryptocurrencies against four fiat currencies: the British pound, Canadian dollar, euro, and US dollar. The Australian dollar is listed but not yet supported.
Regulatory Compliance and Regional Verification
Thomas Jankowski, Coinsquare’s Chief Digital and Growth Officer, told news.Bitcoin.com: “We’re in the final stages of vetting a few select KYC and AML vendors who, in tandem with our amazing in-house customer success teams, will allow us to handle verification for EU countries.” He added: “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.”
The company has also established a subsidiary called Coin Capital Investment Management Inc. (Coincapital), registered with the Ontario Securities Commission as an exempt market dealer, investment fund manager, and portfolio manager. This division will offer investment products focused on blockchain, artificial intelligence, and cryptocurrencies.
First Branded International Expansion
Coinsquare noted that this expansion is its first under its own brand, but not its first step into global markets. Currently, verification is limited to Canadian residents. However, the company has previously partnered with businesses in Canada and the EU to launch white-label platforms through Coinsquare Licensing, which powers cryptocurrency trading solutions. In July 2018, Coinsquare also announced plans to enter Japan via Coinsquare Licensing, pending approval from the Japanese Financial Services Agency, in partnership with global crypto investment bank Dlta21.