StellarX, the decentralised exchange, changes hands

The struggling Canadian bitcoin exchange Coinsquare has sold the decentralized exchange StellarX to Ultra Stellar, the software development company.

We are very excited to announce that StellarX has been acquired by Ultra Stellar, the company behind @Lobstrco and @Stellarterm.https://t.co/8suVhHnoBH

— StellarX (@stellarxhq) November 30, 2020

StellarX joined Ultra Stellar’s product portfolio along with the cryptocurrency wallet LOBSTR and StellarTerm, an open-source client for accessing decentralized exchanges (DEX).

StellarX began operating in September 2018. It supports peer-to-peer trading of both cryptocurrencies and fiat. Coinsquare acquired the platform in February 2019.

In July 2020, the Ontario Securities Commission accused Coinsquare of falsifying 90% of its trading volumes. After that, nearly all of the exchange’s leadership left.

In November 2020 the Canada Revenue Agency requested data on Coinsquare’s users for the past seven years.

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