Canadian crypto exchange Coinsquare has partnered with payment solutions provider Processing.com to allow its users to purchase cryptocurrencies quickly via debit and credit card.
Coinsquare is one of Canada’s biggest digital currency exchanges for popular cryptocurrencies. The company currently facilitates approximately $5 billion per annum of cryptocurrency trades and is poised for exponential growth. It supports bitcoin, Bitcoin Cash, ethereum, Litecoin, Dash and Dogecoin. Coinsquare stores 98% of the company’s assets offline.
Processing.com focuses on providing e-commerce payment processing solutions and services that allow for the acceptance of online payments in multiple currencies around the globe. It connects its customers through the company’s proprietary payment processing platform to an extensive network of acquiring banks. In addition, the company deploys industry-leading security and fraud analytics as well as real-time reporting tools.
Under the partnership, Processing.com will help enable online payments functionality for Coinsquare users to buy cryptocurrencies with their credit or debit cards instantaneously. The goal is to enable larger numbers of participants to buy and sell altcoins without the need for digital wallets and digital coin conversions.
“It was important for us to partner with a market leading innovative payments partner,” said Cole Diamond, CEO of Coinsquare. “Processing.com has exceeded our expectations, and it is refreshing to collaborate with such a partner to provide this much needed solution to our customer base. We believe that this partnership will be a further catalyst to our already exceptional growth.”
“As digital currencies increasingly make their way into the mainstream conscious, service providers have a responsibility to ensure the broader public can access the rapidly growing blockchain ecosystem,” said James Bergman, Chief Revenue Officer of Processing.com. “Processing.com is proud to facilitate fiat currency payments of digital currencies for the general public through Visa and MasterCard transactions.”
Last month, Coinsquare announced that it was targeting about $120 million in an initial public offering (IPO) to help finance an overseas expansion. It plans to sell shares through an IPO on the main Toronto Stock Exchange in September. The company hopes its IPO will serve to establish the exchange as a reputable entity in the eyes of investors.
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