Today’s strategic investment news builds on a multi-year relationship between the two companies. The agreement also includes the ability for Mogo to acquire an additional 20 percent ownership interest in Coinsquare through the acquisition of shares from current shareholders and the exercise of warrants.
Coinsquare acts as the trading platform for MogoCrypto, a service Mogo launched in 2018 to allow its members an easy and convenient way to buy and sell bitcoin.
Launched in 2014, Coinsquare has grown to become the leading digital asset trading platform in Canada, with trading volume in excess of $525 million last month. The trading platform makes buying and selling digital assets quick and convenient, with customers able to easily manage their portfolio of digital assets.
“We believe strongly in the growing importance of cryptocurrency in the financial wallets of consumers, and deepening our relationship with Coinsquare will enable us to bring enhanced functionality and value into the MogoCrypto product,” said David Feller, CEO of Mogo.
“We’ve had a relationship with Coinsquare for nearly three years and built strong familiarity with their team and platform, which we view as the most robust trading platform in Canada for digital assets.”