Canadian crypto exchange Coinsquare raises $30M

Canadian cryptocurrency exchange Coinsquare has raised $30 million in new equity financing.

Announced today, the funding was led by financial services firm Canaccord Genuity and “will be used to fuel a global growth plan…”

Part of that push will include hiring as many as 100 employees over the coming months, with an eye to have 200 employees working for the exchange by the second quarter of this year

“We’re racing, but racing to do it right. We’re going to take the old-school route as an IPO to the Toronto Stock Exchange,” Cole Diamond, Coinsquare CEO, was quoted as saying.

Coinsquare said its expansion plans also include investments in cryptocurrency mining, the launch of a Trading and Arbitrage division and the creation of funds “focused on investments across the digital asset landscape” which will be called CoinCap Funds.

Author: Sara Bauer


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