The biggest Canadian cryptocurrency exchange, Coinsquare, just acquired the zero-fee decentralized exchange StellarX. StellarX is built on the blockchain of Stellar.
According to their blogpost, StellarX will continue develop and grow along the roadmap the exchange announced last fall. Coinsquare will add value by bringing top-notch programmers and designers that will help StellarX develop further.
In addition, Coinsquare will reportedly add several new features to its newly acquired company. Right now, StellarX users can exchange their XLM tokens for just a few fiat tokens and other alt coins, but this is supposed to change, as Coinsquare will add security tokens and fiat-pegged tokens.
The other reason for why this merger is a big advantage for StellarX is the fact that Coinsquare is in good relationships with European and US regulators. StellarX came with the following statement:
To fulfill its potential, StellarX needs a home with regulatory experience and with a full-scope plan to build around the app.
Coinsquare acquired BlockEx, and now the cofounder of BlockEx, Megha Bramba, will lead StellarX.
In addition, the original team of StellarX will be moving to SDF. The team will be working on new Stellar products and improving the user experience.
Amid the current “crypto winter”, this new acquisition is poised to do some good for Coinsquare, Stellar and StellarX.