★ Company profile
Coinsquare Ltd. is a digital asset trading platform based in Toronto, Canada, founded in 2014. The company aims to provide users with trading services for cryptocurrencies.
★ Regulatory information
Coinsquare Capital Markets Ltd. is a subsidiary of Coinsquare and is regulated in Canada. Coinsquare is a member of the Investment Industry Regulatory Authority (CIRO) of Canada and the first cryptocurrency marketplace platform in Canada to be regulated by CIRO. As a CIRO member firm, cash held in client accounts is insured by the Canadian Investment Protection Fund (CIPF), which will provide compensation for cash shortfalls of up to $1,000,000 per account in the event of the bankruptcy of Coinsquare Capital Markets Ltd. In addition, all client assets are held in trust by external licensed custodians, including Coinbase Custody, Tetra Trust Company, and BitGo Trust Company, which together have more than $680 million in insurance. Coinsquare Capital Markets Ltd. also holds cold storage risk insurance that goes beyond custodian insurance coverage. As a CIRO Investment Dealer member, Coinsquare's finances are monitored and audited by an independent CIRO-approved accounting firm. Client assets are securely stored in cold storage at a 1:1 ratio, separate from working capital, and are not used for lending purposes.
it is worth noting that on July 16, 2020, the Ontario Securities Commission (OSC) issued a statement of allegations against Coinsquare Ltd. and its founder, Virgile Rostand, CEO Cole Diamond, and former Chief Compliance Officer Felix Mazer. The allegations include that Coinsquare inflated trading volume through "wash trades" between July 2018 and December 2019, accounting for more than 90% of reported trading volume, and reported false trading volume to the public through its website and API. The OSC also accused Coinsquare of retaliation against internal whistleblowers. Coinsquare then reached a settlement agreement with the OSC and agreed to pay fines and make management changes.
★ trading product
The Coinsquare platform supports the trading of a wide range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and more. The platform also supports the exchange between fiat currencies and cryptocurrencies. As of March 2025, Coinsquare is partnering with Eightcap to expand its product offering to offer users access to CFDs on stocks, indices, commodities, and forex.
★ trading software
Coinsquare offers trading services primarily through its official website and mobile app, which may support iOS and Android. According to information from its partner, TradingView, Coinsquare offers advanced charting tools and market analysis features.
★ customer support
Coinsquare offers online customer support services, This may include frequently asked questions (FAQs), email support, and an online help center.
★ core business and services
Coinsquare's core business is to serve as a digital asset trading platform, providing Canadian users with cryptocurrency buying, selling, and trading services. Coinsquare's goal is to become Canada's leading cryptocurrency trading platform. Its service targets are mainly retail users, aiming to provide them with a convenient entrance to cryptocurrency trading. Through its partnership with Eightcap, Coinsquare plans to expand its core business to include multi-asset CFD trading, providing users with wider access to financial markets.
★ technical infrastructure
Coinsquare's technical infrastructure is designed to ensure the stability and security of the trading platform. The platform uses multi-layer encryption technology and hot and cold wallet storage solutions to protect user assets. Through its partnership with Eightcap, Coinsquare will leverage its transaction-as-a-service (TaaS) solution, "Embedded," to provide multi-asset trading capabilities, demonstrating that its technology architecture supports integrations with third-party technology providers.
★ Compliance and risk control system
Coinsquare has established a compliance and risk control system to comply with the requirements of Canadian regulators. As a CIRO-regulated trading platform, Coinsquare has implemented strict KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures. Client assets are held in independent custody by licensed custodians and are protected by CIPF funds. Platform Finance is subject to regular audits by CIRO-approved accounting firms to ensure the security of its business operations and the interests of its clients. However, as the 2020 OSC's allegations show, Coinsquare has faced compliance challenges related to misstated trading volumes and internal controls in the past and has since taken steps to strengthen compliance.
★ Market positioning and competitive advantage
Coinsquare is primarily positioned in the Canadian market and is the first cryptocurrency trading platform in Canada to be CIRO-regulated. Its competitive advantage lies in its regulatory compliance in the Canadian market, which provides customers with a higher level of security and trust. Through the business combination with Bitbuy and CoinSmart, Coinsquare has a large user base in the Canadian market and plans to further expand its market share in the multi-asset trading space through a partnership with Eightcap.
★ Customer Support & Enablement
Coinsquare offers educational content through the "Learning" section of its website, designed to empower customers, Help them understand cryptocurrencies and the trading market. The platform is committed to enhancing the user experience by providing an easy-to-use interface and reliable customer support.
★ Strategic Partnership Ecosystem
Coinsquare Significant progress has been made in strategic cooperation.
March 5, 2025: Coinsquare (and its sister platform Bitbuy, both owned by WonderFi) has signed a letter of intent with Eightcap to offer users CFDs on stocks, indices, commodities and forex through Eightcap's Trading-as-a-Service (TaaS) solution, Embedded. Eightcap will serve as Coinsquare's trading technology and liquidity provider.
Previously: Coinsquare partnered with Riot Blockchain (now Riot Platforms) in 2018, and RiotX had planned to leverage Coinsquare's platform infrastructure and security technology.
Escrow Partnerships: Coinsquare works with external licensed custodians such as Coinbase Custody, Tetra Trust Company, and BitGo Trust Company to ensure the secure storage of customers' digital assets.
★ financial health
According to public information, Coinsquare has raised more than $60 million in funding from investors, including the Fidelity Investments Canada fund. As of May 2021, platform assets increased by more than 230% year-over-year to $900 million, with an annualized revenue run rate of more than $95 million. On April 3, 2023, Coinsquare, WonderFi, and CoinSmart completed a business merger with the aim of creating Canada's largest regulated cryptoasset trading platform with 1.65 million registered users.
★ future roadmap
Coinsquare's future roadmap focuses on its leadership in cryptoasset trading in Canada and expanding its services through strategic partnerships. The partnership with Eightcap shows that Coinsquare plans to expand its business into the traditional financial markets, offering a wider range of trading products to meet the diverse investment needs of users. The company is committed to providing users with a safe and convenient trading experience through continuous regulatory compliance and technological innovation.
