Crypto Exchange Coinsquare to Launch European Operations in Fourth Quarter

Coinsquare, one of Canada’s biggest digital currency exchanges, has announced the next phase of its bid to become a global crypto exchange, opening for business in the European Union in Q4 2018.

Coinsquare, aka Canada’s Coinbase, said in a statement on Thursday that customers across Europe will have access to its entire suite of coins. At present, it supports trading of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, Dogecoin, and Dash. Coinsquare stores the bulk of its assets in so-called Cold Storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term, which uses offline servers to prevent theft.

The Toronto-based exchange claims $5 billion per year of cryptocurrency trades and over 100,000 customers. The company raised $23.63 million in a funding round earlier this year and is targeting a $120 million IPO in September to help finance an overseas expansion.

The trading venue is also making inroads into Asia as it plans to open a new cryptocurrency exchange in Japan. The move, which involves a partnership with Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term investment bank DLTa21, comes as Japanese regulators investigate such exchanges in the country after hackers stole millions in some of the world’s biggest cyber-heists.

Coinsquare expressed confidence that its venture would pass without hitches as the new partnership combines its crypto platform technology with “DLTa21’s Japan and Canada based team of experts in trading, compliance, and blockchain / distributed ledger technologies (DLT).”

Prospects of lucrative business

Europe‎ is seen as a global cryptocurrency hub, and with the ‎exponential increase in prices last year, the number of market participants ‎also ramped up.‎

Overall, 2017 was a watershed year for the virtual asset class in Europe.‎ A recent survey showed that one in three German millennials would consider including cryptocurrency into their investment portfolios.‎ A further 46 percent are seriously considering investing in a digital currency by the end of 2018, the study found.

Commenting on the news, Cole Diamond, CEO of Coinsquare, said: "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. Already the premier cryptocurrency exchange in Canada, we are careful in how we expand internationally to ensure we can offer the same high quality, secure service in every country we operate."