European Union ‘s growing crypto industry and friendlier regulatory policies are slowly making it a catchment area for crypto business. A lot of business is shifting their headquarters to European countries in order to grow in a quick but sustainable way. After Zebpay, the latest addition to this list is Canadian crypto exchange Coinsquare.
Lucrative growth opportunities pull Coinsquare to Europe
Remaining steadfastly focused on transparency, risk mitigation and after having tested waters in a tough North American market, Coinsquare has now launched an operation in 25 countries of Europe simultaneously. According to the news reports, this move has expanded Coinsquare’s market opportunity by 1200%. Coinsquare move dint comes as a surprise though, as the exchange had already announced earlier this year that it had its eyes on the European markets.
Coinsquare is one of the world’s premier cryptocurrency trading platform for trading Bitcoin, Ethereum, and other cryptocurrencies. The exchange operates out of Canada and mostly caters to the North American Market. Founded in 2014, the exchange boosts of its superior technology and security claiming to have never lost a single coin due to hacks or other malicious activities that are pretty rampant in the crypto world.
The news further states that European customers can now fund their Coinsquare accounts with a variety of funding methods. This move also provides European users access to all major services from Coinsquare including cryptocurrency purchase and trade, Coinsquare Wealth concierge services, Coinsquare APIs for B2B clients, and Coinsquare Capital Markets for institutional and family office investors.
Cole Diamond, CEO of Coinsquare was quoted saying in the press release that
“From our earliest days, Coinsquare has been focused on building the most compliant and secure trading business in the cryptocurrency space. After building a great deal of new infrastructure, achieving a successful third party financial audit, and securing top-tier Canadian banking, we felt the time was right to expand our offering to another market. We decided to begin with Europe given the size of the opportunity and our ability to offer something unique to that market,”
His views on the European Crypto Market were
“Europe is a rapidly-growing cryptocurrency market and the cryptocurrency community there is excited to have an option that puts security, compliance, and risk management at the forefront of its offering.”
This move of Coinsquare clearly establishes two things. 1) Europe is becoming a big catchment area for crypto and blockchain businesses 2) Exchanges are seeing enough market opportunity to grow to indicate there is wide interest in cryptos despite volatility.
Coinsquare entry into the budding European markets comes after India’s Zebpay launched itself into the European markets. Although Zebpay was forced to shift its base to Europe from India due to regulatory roadblocks, its selection of the European market was also because of the huge opportunity the continent presents to crypto businesses.
With the presence of already established exchanges (who have entered crypto markets) like SIX and Börse Stuttgart and entry of new exchanges such as Coinsquare and Zebpay, Europe is becoming an interesting market. Let’s see who the market would shape out in days to come.
Is Europe ready to take the lead in the future world of decentralization and cryptocurrencies? Do let us know your views on the same
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.