ABOUT COIN­SQUARE

The Globe and Mail (Prairie Edition) - - LEADING EDGE - Marjo Johne

Head­quar­ters: Toronto In busi­ness since: 2014 Em­ploy­ees: 140 An­nual rev­enue: Not avail­able

If you want to get into cryp­tocur­ren­cies but you’re not sure how to start, Toronto-based Coin­square Ltd. gives Cana­di­ans a se­cure place on­line to buy and sell them.

Since its launch, Coin­square has grown into one of the coun­try’s largest dig­i­tal-cur­rency ex­changes and is in the top 100 world­wide, ac­cord­ing to CoinMar­ketCap, a web­site that tracks cryp­tocur­ren­cies and ex­changes. Us­ing their com­put­ers or phones, Coin­square users can buy and trade up to seven types of cur­rency, in­clud­ing bit­coin, ethereum and rip­ple.

Chief ex­ec­u­tive of­fi­cer Cole Diamond de­clined to give the num­ber of Coin­square users, say­ing only there are “sev­eral hun­dred thou­sand – all Cana­dian.” There’s plenty of room for growth in the mar­ket, he adds. In­deed, a Bank of Canada sur­vey found an in­creas­ing aware­ness of dig­i­tal cur­rency among Cana­di­ans: Last year, 85 per cent said they knew about bit­coin, com­pared with 64 per cent in 2016.

Mr. Diamond notes that Coin­square, which has raised more than $50-mil­lion in fund­ing, is more than a trad­ing plat­form. The com­pany has six lines of busi­ness, in­clud­ing min­ing, as­set man­age­ment and li­cens­ing of its cryp­tocur­rency trad­ing-plat­form tech­nol­ogy. The com­pany plans to launch in Europe this year.

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