Cryptocurrency exchange Coinsquare has reached a partnership agreement with a major Canadian bank and we’ve covered the announcement in The Daily. Also in Canada, a large bitcoin farm may be cut off from the grid by a mayor concerned about electricity consumption, and elections in Québec are likely to change the game for mining companies. In China, a bitcoin billionaire turns back on the industry; the government crackdown may have played a role.
Also read: Fake Volume, Tether Troubles, Bitcoin’s “Inevitable” Mass Adoption
Coinsquare in Agreement With Leading Canadian Bank
Canadian crypto exchange Coinsquare has managed to secure a partnership agreement with one of Canada’s leading banks. The deal will help the trading platform streamline the process of depositing and withdrawing funds for its users. According to a press release, the relationship with a Big 5 Canadian bank, which has not been identified yet, will also serve as a foundation for the firm’s global growth. The Ontario-based company has previously announced plans to expand its operations in Europe by the end of this year and launch an exchange in Japan.
Coinsquare CEO Cole Diamond described the agreement as a “tremendous boost” not only for Coinsquare but for the entire Canadian cryptocurrency industry. Quoted by Prnewswire, he said: “This announcement is one of many examples of how institutional third party partners put their faith in our approach to the cryptocurrency business. We’re thrilled to start a relationship with a major Canadian bank and we’re excited for what it means for our users.”
The announcement comes after Coinsquare recently completed a third-party consolidated financial audit which concluded that its financial statements are “free from material misinformation.” According to its Chief Financial Officer Ken Tsang, both developments are part of the efforts
