BlockEQ (BlockEquity Inc.) has been acquired for $12 million by Coinsquare, Canada’s largest cryptocurrency trading platform. Coinsquare will be leveraging the technology to provide new products and services using the Stellar Network.
“We have enormous respect for what the BlockEQ team brings to Coinsquare.” said Cole Diamond, CEO of Coinsquare. “They are one of Canada’s best tech teams, and the product they’ve built is immensely valuable. That combination in partnership with Coinsquare’s technology means that we have the opportunity to build amazing things for the cryptocurrency community in Canada and far beyond.”
BlockEQ was co-founded by Satraj Bambra, Megha Bambra, and Jon Lister who started building the platform 9 months ago. They expanded their team by adding three more engineers: Nick DiZazzo, David Fernandez, and Daniel Wang. The team has released mobile wallets on the App Store and Google Play Store as well as desktop versions for MacOS and Windows. The wallets have received awards from Stellar’s Build Challenges and have been downloaded in more than 70 countries.
BlockEQ will continue developing the platform as its own entity, operating as a subsidiary of Coinsquare. Recognized as one of the fastest-growing Canadian companies, Coinsquare has been actively launching new business lines in it’s mission to become a leading financial institution.
We have a number of people and organizations to thank for helping us reach this point. Through The Working Group (TWG) and another angel investor, we were able to dedicate our full-time on developing BlockEQ. TWG provided us office space and access to their amazing facilities. The Stellar Development Foundation and Inter/stellar teams have been incredibly supportive of our platform. We are excited to continue working with them on growing the Stellar ecosystem. We also have to thank all of our open source contributors who have completed bounties on our GitHub page. Your contributions are much appreciated and we will continue to offer more bounties in the future. Last but certainly not least, we would like to thank the Stellar community for all your support and feedback. Every suggestion you make helps us to improve the experience for everyone.