Crypto exchange Coinsquare acquires Stellar wallet BlockEQ

Coinsquare revealed it had paid USD 12 million CAD, equivalent of approximately USD 9 million, to acquire BlockEQ, a non-custodial wallet that allows crypto users to store XLM and other tokens that run on the Stellar network. With this acquisition, Coinsquare gains a foothold in the Stellar ecosystem, a foundation which it plans to leverage to provide products and services using the Stellar Network.

Moreover, the crypto exchange has begun to expand internationally, forming cross-border partnerships with companies including Japan-based startup DLTa21. It also helped at the launch of an exchange-traded fund (ETF) that invests in blockchain industry companies.