The Canadian cryptocurrency exchange Coinsquare announced it got new funding of $30 million from equity financing round led by Canaccord Genuity Corp. The most recent round will be used to fule a global growth plan and diversification strategy.
In the past few months Coinsquare has raised a total of $47.3 million and its valuation rose from $30 million to $430 million.
“We have seen tremendous investor confidence in the Coinsquare business model, having raised a total of $47.3 million in just over four months – notable for this industry,” says Cole Diamond, CEO of Coinsquare. “We take a very different view than your typical digital currency trading platform. Virgile Rostand, Coinsquare’s Founder, was an early industry pioneer and blue-chip banking industry veteran. He built a custom platform that is unrivaled in Canada, boasting extremely high security standards.”
Coinsquare also said it is planning to expand globally through white-label partnerships and license its technology to proven operators in markets around the world.
Coinsquare is a Canadian cryptocurrency exchange that offers trading in Bitcoin, Bitcoin Cash, Ethereum, Dash, Dogecoin, Litecoin for CAD, USD, EUR, GBP, AUD and silver and gold. It has over 100 000 customers, 90 staff members and stores 98% of the client funds offline, which makes it pretty secure.