фото показано с : blokt.com

Riot Blockchain Inc., announced on Tuesday, Sept. 4, that the company, through its subsidiary RiotX Holdings Inc., is partnering with Coinsquare to create a US-focused cryptocurrency exchange. The exchange will be a RiotX branded version of the Coinsquare platform, complete with customizations like functional integration and associated transaction processing services. The service will be offered to selected customers on RiotX.com. The partnership also allows RiotX exclusive license to operate in the US market.

Since the beginning of the year, Riot Blockchain has been looking for ways to enter the US cryptocurrency market. In its second-quarter report, the company stressed on its objective of launching a crypto exchange in select states.

The recent Coinsquare agreement will open a regulatory gateway for offering services to US customers. Coinsquare has a secure platform that could help RiotX in gaining its users’ trust. The Canadian market leader has already received CAD$50 million in funding in the last one year alone.

Through its subsidiary Logical Brokerage Corp., RiotX operates as a futures introducing broker. It is a member of the National Futures Association (NFA) and is registered with the Commodity Futures Trading Commission (CFTC). RiotX holds a money service business license from FinCEN. It has also obtained a Florida money transmitter license to engage in the crypto market actively.

The NASDAQ-listed Riot Blockchain Inc. witnessed a 1.6-percent increase in share prices after Bitcoin rallied about 4.8 percent on Tuesday. The company currently deploys about 8,000 Bitmain S9 miners for mining Bitcoin, Bitcoin Cash and Litecoin from its US-based mining facilities. It is one of the largest publicly listed Bitcoin mining firms in the US with 100 Petahash mining power and 735 Bitcoins in inventory. However, it is still not profitable and shows a loss of $24.4 million on its balance sheet.

It is important to note that Riot owns 12.9 percent of goNumerical Ltd., the parent company of Coinsquare. Interestingly, Riot Blockchain is one of the many publicly listed companies to pivot their business model and enter the blockchain and cryptocurrency business. It earlier operated as Bioptix Inc. and made diagnostic machinery for the biotech sector. When it announced its foray into blockchain about a year ago, the penny stock’s value doubled in a matter of days. Upon formal announcement of the pivot, the stock gained 17 percent in just one day.

Riotx Enters Agreement With Coinsquare to Help It Launch U.S. Focused Cryptocurrency Exchange was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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