Boursier.com) - The centralized cryptocurrency Ripple, which ranks among the top three digital currencies by capitalization (with Bitcoin and Ethereum), has a difficult day. The XRP yields nearly 4% on Poloniex at around $ 1.31. However, the Ripple should be integrated on one of the main Canadian cryptocurrency exchange platforms, Coinsquare, next month!
Coinsquare currently offers Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Dogecoin and Squarecoin.
Coinsquare plans $ 120M IPO in Canada
Coinsquare is showing off its ambitions, and has just unveiled plans to go public in Toronto. The platform is considering a $ 150 million Canadian operation, or about $ 120 million US. The IPO is scheduled for the month of September, and is expected to finance the expansion projects of the firm internationally, the United States and the United Kingdom. The firm is already raising 50 million Canadian dollars, as part of a tour de table led by Canaccord Genuity and Cormark, whose completion is expected in the coming days.
Coinbase in the viewfinder
Quoted by the agency Bloomberg, Cole Diamond, the boss of Coinsquare, explains indeed that "the markets of the United States and the United Kingdom are the next". The platform hopes to be operational in the second quarter. "We believe that we will be a strong competitor for Coinbase and other exchanges in the US by the end of the year," says the leader ... Coinbase who has not yet adopted the Ripple ...
Operation in the rules
Coinsquare wants to proceed with an IPO on the Toronto Stock Exchange, while some of its peers have opted for an entry on the TSX Venture Exchange, much less regulated. Cole Diamond, quoted by Bloomberg, relaying remarks made at a Canaccord blockchain conference in Vancouver, has also tapped these "low quality operations". For its part, Coinsquare intends to play in the rules.
And security?
Coinsquare is also reassuring about the risk of piracy frequently mentioned in the cryptocurrency segment. According to the boss of the firm, 98% of the assets are stored on servers 'offline', in order to avoid any theft. The platform claims 100,000 users, and intends to reach half a million by the end of the year ...
Soon the Ripple
Coinsquare, based in Toronto, plans to offer the Ripple, crypto-currency, which had an incredible end of 2017, before going through a more difficult period in early 2018. The XRP will make its debut on Coinsquare in February. The Canadian platform intends to launch a digital currency per month "in the foreseeable future".
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This should be very good for Ripple. I feel many have lost confidence but all we need is a couple more things like this to happen. And an alternative to Coinbase would be nice.