• Leading Canadian Cryptocurrency Exchange, Coinsquare acquires StellarX Decentralized Exchange
• Megha Bambra, co-founder of BlockEQ will lead the development of the StellarX platform under CoinSquare and Stellar Development Foundation’s guidance.
The pioneer Canadian Cryptocurrency Exchange, Coinsquare has announced on the medium that it has “acquired” StellarX. CoinSquare’s acquisition of StellarX is to promote the growth of the StellarX platform. StellarX would retain its brand in the process.
Coinsquare is a Canadian cryptocurrency investment platform. You can use it to buy, sell and trade cryptocurrencies on a variety of markets that include Bitcoin, Litecoin, Ethereum, Ethereum Classic, Dash, XRP, BSV, BCH, and Dogecoin. In all probability it will add support for Stellar Lumens (XLM) markets soon; it is the cryptocurrency which is used by StellarX by default to settle transactions.
StellarX is the decentralized cryptocurrency exchange built on the Stellar Universal Marketplace. The decentralized platform is designed to exchange and store all types of assets including currency, stocks, bonds, and derivatives. StellarX is a user-friendly way to trade all kinds of assets cheaply and quickly while maintaining sole control of your keys.
The trading fees on StellarX platform is meager, hence, any trade order placed on the platform is cost-free. StellarX also reimburses the weekly generated XLM out of their inflation program. The market place on Stellar is transparent for both the issuers and the buyers. It is like a decentralized peer-peer OTC trade platform.
StellarX is a decentralized platform built by the Stellar Organization. However, since its release in the Q4 of 2018, it hasn’t gained much user volume. The partnership will foster the growth of the StellarX platform with increased potential, and with a diverse, experienced exchange, team to manage developments at the helm.
The partnership is a step ahead for both the entities to increase the efficiency and efficacy of asset and cryptocurrency exchange. Esteemed Co-founder of BlockEQ and Entrepreneurial Manager, Megha Bambra has been assigned the task of leading the StellarX team and leveraging their qualities on the Coinsquare exchange.
StellarX has already added fiat currency stablecoins or tethered asset that can be traded on the Stellar Decentralized exchange. The Stellar Development Foundation (SDF) will retain the team behind StellarX. Coinsquare and SDF will together take part in the further development of the StellarX decentralized exchange.