Coinsquare, a major Canadian crypto exchange has announced its first international expansion.
The crypto exchange, founded in 2014 and claiming to be “Canada’s most secure digital currency trading platform,” is planning to open its services to the European market. Stating: “Customers across Europe will have access to Coinsquare’s entire suite of coins – bitcoin, bitcoin cash, ethereum, litecoin, XRP, dogecoin, and dash.” As well as the seven cryptos, Coinsquare offers trading in four fiat currencies: U.S. dollars, British pounds, Canadian dollars, and euros.
This will be the Coinsquare brand’s first expansion, as according to their statement: “This is Coinsquare’s first international expansion under the Coinsquare brand, but not Coinsquare’s first step in the global cryptocurrency market.”
At the moment Coinsquare only offers their services to Canadian citizens or residence, documents that are accepted as proof include driver’s license, passports, resident cards, etc. The company has expanded by associating with Canadian and European firms to “launch fully white-labelled platforms that offer a consistent brand experience, and are specifically tailored to individual markets and the needs of their clients.”
Coinsquare has also shared their intent to enter the Japanese market, however, they are still waiting for the approval of the Japanese Financial Services Agency (FSA).
WHY IS THIS IMPORTANT?
- Europeans will have a bigger variety in choosing the exchange to trade their crypto.
- Moving into the global market, Coinbase is creating more competition, which means that both they, and other crypto exchanges will need to up their game in order to attract more users.