{"id":6501,"date":"2019-02-15T14:45:11","date_gmt":"2019-02-15T12:45:11","guid":{"rendered":"https:\/\/forklog.media\/?p=6501"},"modified":"2019-03-02T09:28:29","modified_gmt":"2019-03-02T07:28:29","slug":"stellarx-acquired-by-major-canadian-crypto-exchange-coinsquare","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/stellarx-acquired-by-major-canadian-crypto-exchange-coinsquare\/","title":{"rendered":"StellarX Acquired by Major Canadian Crypto Exchange Coinsquare"},"content":{"rendered":"<p>Largest Canadian crypto exchange Coinsquare has acquired StellarX, a Stellar-based zero-fee decentralized crypto exchange and payment network. According to the announcement, StellarX will be a fully owned subsidiary of Toronto-based Coinsquare and will seek regulatory approval to operate and expand its service under Coinsquare\u2019s compliance.<!--more--><\/p>\n<p>The deal was announced on Thursday, Feb. 14, via StellarX post on Medium. The financial terms are not disclosed, however StellarX will continue to operate under its own brand.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Big news for <a href=\"https:\/\/twitter.com\/search?q=%24XLM&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$XLM<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Stellar?src=hash&amp;ref_src=twsrc%5Etfw\">#Stellar<\/a> Lumens! Coinsquare, the biggest <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> exchange in Canada, has acquired StellarX <a href=\"https:\/\/t.co\/60bRXn7BvU\">https:\/\/t.co\/60bRXn7BvU<\/a><\/p>\n<p>\u2014 Stellar Lumens $XLM (@xlmstellarlumen) <a href=\"https:\/\/twitter.com\/xlmstellarlumen\/status\/1096057483376812033?ref_src=twsrc%5Etfw\">February 14, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Highlighting the potential of StellarX, the team says that by dollar-equivalent volume the platform was a top-3 decentralized marketplace just weeks after launch, with tens of millions of dollars of value claimed to be held by StellarX account holders today.<\/p>\n<p>However, to fulfill its potential, StellarX is said to be in need of \u201ca home with regulatory experience and with a full-scope plan to build around the app.\u201d<\/p>\n<blockquote><p><strong>\u201cCoinsquare is the perfect fit. They are already the leading Canadian cryptocurrency platform. They have very close relationships with regulators in the U.S., Europe, and Canada. The Bank of Montreal is their banking partner. They have experience with Stellar, having acquired BlockEQ a few months before. And, in Megha Bambra\u200a\u2014\u200athe BlockEQ cofounder who will now lead StellarX\u200a\u2014\u200athey have an extremely capable entrepreneur excited to grow StellarX and the Stellar ecosystem as a whole,\u201d<\/strong> reads the announcement.<\/p><\/blockquote>\n<p>In a separate <a href=\"https:\/\/www.businesswire.com\/news\/home\/20190214005878\/en\/Coinsquare-Acquires-StellarX-Global-Decentralized-Crypto-Platform\" target=\"_blank\" rel=\"noopener\">press release<\/a>, Coinsquare says that BlockEQ will be rebranded to become the anchor wallet for the StellarX platform.<\/p>\n<blockquote><p><strong>\u201cWe are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key\u201d, <\/strong>said Cole Diamond, CEO of Coinsquare.<strong> \u201cStellar is the fastest payment network in the world and we see enormous potential to create industry leading services on StellarX to further broader adoption\u201d.<\/strong><\/p><\/blockquote>\n<p>StellarX is based on Stellar\u2019s (XLM) universal marketplace and positions itself as a \u201creal fiat onramp,\u201d allowing users to make deposits directly from a U.S. bank account. The exchange <a href=\"https:\/\/forklog.com\/en\/interstellar-launches-stellarx-decentralized-crypto-exchange-with-zero-fee-and-fiat-support\/\" target=\"_blank\" rel=\"noopener\">was launched<\/a> in September 2018 by Interstellar, a company formed earlier the same month after San Francisco-based technology startup Chain Inc. <a href=\"https:\/\/forklog.com\/en\/blockchain-startup-chain-acquired-by-lightyear-to-move-business-to-stellar-protocol\/\" target=\"_blank\" rel=\"noopener\">was acquired<\/a> by Lightyear Corp. Interstellar migrated Chain\u2019s customer base and products onto Stellar\u2019s public ledger, creating a platform with aim of enabling organizations to issue, exchange and manage digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Largest Canadian crypto exchange Coinsquare has acquired StellarX, a Stellar-based zero-fee decentralized crypto exchange and payment network. According to the announcement, StellarX will be a fully owned subsidiary of Toronto-based Coinsquare and will seek regulatory approval to operate and expand its service under Coinsquare\u2019s compliance.<\/p>\n","protected":false},"author":1,"featured_media":5877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[838,787,48,884],"class_list":["post-6501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinsquare","tag-dex","tag-exchanges","tag-stellarx"],"aioseo_notices":[],"amp_enabled":true,"views":"251","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=6501"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6501\/revisions"}],"predecessor-version":[{"id":6502,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6501\/revisions\/6502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/5877"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=6501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=6501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=6501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}