Coinsquare and StellarX DEX
Despite the dumping market, Coinsquare has made a big deal today by acquiring the Stellar. Moreover, it is the second stellar-related purchase for Coinsequare in 90 days (i.e 3 months).
— Stellar Lumens $XLM (@xlmstellarlumen) February 14, 2019
Stellar refers to Stellar Lumens or XLM, a cryptocurrency platform. Per the acquisition deal, Stellar will still be operating under its own brand. Additionally, the core of agreement would let Stellar work and accomplish the goal outlined in the road-map. Moreover, Cole Diamond, CEO of Coinsquare says that;
“We are deeply committed to ensuring that the cryptocurrency market thrives, and adoption is key. Stellar is the fastest payment network in the world and we see enormous potential to create industry-leading services on StellarX to further broader adoption”.
It’s quite important to note that Coinsquare has already acquired BlockEQ, a private Stellar wallet in late 2018 for $12 Million and with the new acquisition of StellarX, BlockEQ’s co-founder Megah Bambra will lead the operation. Furthermore, the blog post explains that StellarX would need a home to fulfill its potential and a platform work with regulatory experience. StellarX believes Coinsquare is the best fit with close relationship across regulators of US., Europe and Canada.
Consequently, Megha Bmbra will further responsible to outgrow stellar ecosystem.
Megha Bambra, BlockEQ cofounder, will now lead StellarX. Megha and her new team of Toronto-based developers will continue to build out the product roadmap announced by Stellar last fall. As part of the acquisition, StellarX will continue to operate and grow under its own brand.
What do you think about the latest acquisition of Coinsquare? share your opinion with us.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com