Canadian Coinsquare Exchange Starts Crypto TV Commercial
Coinsquare, a Canadian exchange has chosen to tread the traditional path by looking towards an initial public offer later in September 2018. The exchange will become a publicly traded company. In hopes of lancing a successful IPO, it has unveiled a television commercial to enable both crypto and non-crypto savvy Canadians to be aware of and invest in the firm later in the year.
Coinsquare is known as the “ Canadian Coinbase”, because it offers excellent services and highly qualified platform. After the ad was released to media houses, it was scheduled to release all this week for Canadian television subscribers.
Coinsquare is known as Canada’s most secure platform for crypto-trading and further paints the exchange in a good side.
There are very few crypto-exchanges in the IPO space. It is uncertain, why the Coinsquare team has chosen to embark on the journey of conducting a traditional sale since the processes involved can be quite lengthy and often cumbersome.
Also, it is worth to note, that the most significant cryptocurrency exchange Binance was launched via an ICO. The daily trading volume of it was $10 billion in less than six months.
Coinsquare aims to generate $120 million in its upcoming fundraiser. The Chief Executive Officer Cole Diamond told Bloomberg;
“The United States and the U.K. market are next. We believe that we will be a strong competitor to Coinbase and other exchanges in the U.S by the end of the year.”
It could take several years for Coinsquare to get to the level at which Coinbase is operating right now, even after a successful fundraising.
The reports emerged on April 6, that the exchange was in advanced talks with the SEC to acquire a license and become a brokerage firm. This action could basically change the way of operating.
In the world of blockchain finance, nothing is impossible. The crypto world is keenly watching to see how high the Coinsquare project will fly after September 2018. Whether it will succeed in hitting the moon like Binance or touch the skies like Coinbase remains to be seen.