Trading Platform Acquires One of Stellar (XLM) Top Wallets

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Leading Canada-based Trading Platform Acquires One of Stellar (XLM) Top Wallets

Stellar (XLM) is still ranked as one of the top 5 cryptocurrencies, now representing the 4th largest crypto after XLM managed to push Bitcoin Cash down the list of toppers during the time of November crisis in the crypto market.

As of the recent case of events, it was announced on December 6th that one of the leading exchanges in Canada acquired one of the top wallets for Stellar (XLM).

The exchange platform named Coinsquare announced buying off a Stellar wallet named BlockEQ.

BlockEQ is a wallet for XLM units, based in Toronto, and had just been bought by the leading Canadian exchange for around 9 million dollars.

Canada-based Coinsquare Trading Platform Buys Off BlockEQ Stellar Wallet

One of the Canadian top leading exchanges named Coinsquare announced the purchase of one the wallets especially designed for Stellar Lumens (XLM).

The wallet is also based in Toronto, and had been acquired on the mentioned date for 12 million CAD, which is equivalent to 9 million USD.

The wallet allows users to safely store their XLM units, also enabling sending and receiving of Stellar. However, what may be the most interesting feature is the ability to tokenize assets on the Stellar network, also providing near-instant experience in terms of settlements.

Coinsquare is said to be one of the fastest leading projects in the course of the last year and with this acquisition, the platform is now able to issue tokens, which is the exact objective of their announced product.

Coinsquare Will Use Stellar Wallet BlockEQ to Issue their First Coinsquare Stable Coin

Apparently, as the representatives from one of the top platforms in Canada stated, the team behind Coinsquare will be using the newly acquired subsidiary in order to be able to issue their own stable coin.

One of the well-known stable coins is Tether (USDT), a crypto tied to the value of the dollar, however, more companies seem to be interested in issuing stable coins as IBM announced the issuance of their own “first stable currency,” also announced in collaboration with Stellar Lumens (XLM).

In the meanwhile, XLM is collecting notable rises with the rest of the market on December 9th, going up against the fiat by over 4%.

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