CoinSquare, which is a Canadian-based cryptocurrency platform dealing with buying, selling, and trading bitcoins, litecoins, ripple, dogecoin,squarecoin and ethereum has unveiled its plans to extend its services to the European market. This is a great step as Europe has an extensive cryprocurrency market and if it will be able to gauge its ability to launch its operations to other states.
To be able to compete with the more established cryptocurrency companies in Europe like Coinbase, CoinSquare will require a huge amount of capital. This is where there is an IPO of $120 million to help in topping up the $30 million that has been set aside for breaking through into the European market.
Cole Diamond, who is CoinSquare’s CEO, was quoted saying that ‘entering a massive market like the EU is an exciting step closer to CoinSquare’s vision of becoming a global 21st-century financial institution.’ This is an indication that they have adequate plans in place to ensure that the standard of their services that is very high in Canada will be maintained or made better so that they can remain relevant in the international markets.
This is not the first time that CoinSquare is launching its services in the international market, though it will be the first time it is entering the international market using its Coinsquare brand. The company has already partnered with Dlta21, a Japanese cryptocurrency investment bank.
European customers who will choose to trade on CoinSquare’s platform will have the benefit of paying a low transaction fee and will be able to trade with any amount since the company does not have a trading minimum. This means that a person who wants to test how the cryptocurrency market works will be able to do so without paying a high amount of money.
The expansion into Europe will be taking place in the last quarter of 2018 and there is a promise that the European customers will get the same high-quality services that the clients in the Canadian Market are getting. The Europe market has been promised a well-regulated and a fully-compliant platform which will ensure that their investment will be safe.
Among the benefits that the European citizens will be able to enjoy is the low transaction fee. Coinbase charges a 4% fee on transactions whereas the transaction fee of Coinsquare platform is 0.2% for taker or 0.1% for maker. Customers will also be able to transact using a credit card when they transact on Coinsquare’s platform unlike buying through the Coinbase platform where the use of credit card is not allowed.