Coinsquare to Acquire StellarX

StellarX team belives Coinsquare is a great fit and it will help to develop the exchange
15 February 2019   562

Coinsquare, the largest Canadian bitcoin exchange, has acquired the decentralized StellarX exchange. The deal became a natural continuation of the BlockEQ XLM purse purchase in December 2018.

The StellarX Exchange is built on the Stellar protocol and offers users peer-to-peer trading in a number of cryptocurrencies and even some fiat pairs.

Note that the site does not provide custodial services and does not have access to the means of users.

Coinsquare intends to request a license for StellarX from the regulators of Bermuda. The position of CEO of the platform will be taken by the head of BlockEQ, Megha Bambra.

From here, StellarX will continue along the roadmap we announced last Fall, led by a dedicated team at Coinsquare of developers and designers who will make StellarX into the product we know it can be. StellarX will continue to operate and grow under its own brand. [...] To fulfill its potential, StellarX needs a home with regulatory experience and with a full-scope plan to build around the app. Coinsquare is the perfect fit.
 

StellarX Team

At the beginning of last year, the Canadian stock exchange raised $ 30 million from Canaccord Genuity. In 2018, she entered the European market, and also planned expansion to Japan.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.