Coinsquare snaps up crypto trading app StellarX

Ben Heathcote

In App Deals. February 17, 2019

StellarX, a decentralised, peer-to-peer marketplace app for trading digital currencies, has been acquired by Canada’s Coinsquare. The financial terms of the acquisition deal have not been disclosed.

StellarX is the first full-featured trading app for Stellar’s universal marketplace. It operates as a true decentralised exchange, meaning users retain sole custody of their funds, trades are executed against other users, and StellarX has no access to funds.

The undisclosed purchase comes on the heels of Coinsquare’s December 2018 acquisition of BlockEQ, which will be rebranded to become the anchor wallet for the StellarX platform.

Cole Diamond, CEO of Coinsquare, said:

“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.”

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.