Riot Blockchain, Inc. (NASDAQ: RIOT) (“the Company”) announced that its subsidiary RiotX Holdings Inc (“RiotX”) has entered into a Software License and Services Agreement (the “Agreement”) with goNumerical Ltd. (dba “Coinsquare”) to provide a RiotX branded version of the Coinsquare platform with customized functional integrations and associated transaction processing services for use by RiotX. RiotX has obtained an exclusive license for the U.S. market through this partnership with Coinsquare. The Company intends to provide this offering for select customers at RiotX.com.
RiotX has been investigating and pursuing the regulatory pathway for the launch of a cryptocurrency exchange in the United States since the start of the year. The Agreement with Coinsquare finalizes a key component in the ability to offer certain customers in the United States a proven platform that prides itself on security and customer experience. Coinsquare has built itself into a market leader in Canada since launching in 2015, and has successfully raised over CAD $50 million in the past twelve months with prominent investor participation.
RiotX, through its subsidiary Logical Brokerage Corp, is a futures introducing broker that is registered with the Commodity Futures Trading Commission (“CFTC”) and is a member of the National Futures Association (“NFA”)*. RiotX is licensed with FinCEN as a Money Service Business, has obtained a Florida Money Transmitter License, and is actively pursuing additional state Money Transmitter Licenses.
About Riot Blockchain
Riot Blockchain is focused on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency mining, targeted development of exchange and mining pool platforms, along with other investments within the sector.
Coinsquare is Canada’s most secure digital currency trading platform for buying, selling, and trading Bitcoin, Ethereum, and other digital currencies. Since its founding in 2014, they have never lost a coin. Remaining steadfastly focused on transparency, risk mitigation, and building an open-minded culture, Coinsquare is on a mission to grow into a multi-faceted financial services company anchored in blockchain technology.
RiotX is working to launch a cryptocurrency exchange initially serving select customers within the United States. RiotX aims to simplify cryptocurrency for the masses and will be focused on providing retail customers a transparent and secure offering to transact in cryptocurrencies.