Coinsquare Adds XRP in Beta Ahead of Global Expansion

For the time being, clients of Coinsquare will be able to deposit and trade XRP, but not to withdraw it.

Coinsquare, one of Canada’s leading cryptocurrency exchanges, has added Ripple’s coin XRP to its instrument portfolio.

According to a Coinsquare post in the help section of its website, the XRP is still in beta testing mode, but supports all typical trading transactions. Clients can fund their accounts with XRP, trade or exchange XRP for fiat or another cryptocurrency.

The only limitation is on direct XRP withdrawals to external wallets, which are currently still not available.

„Our team is working hard to have XRP withdrawals implemented as soon as possible,“ Coinsquare said in the post.

The exchange also warned its clients to be careful when depositing XRP and make sure they have put the XRP tag, or their deposit will be lost.

"XRP has been a highly requested asset which we are thrilled to now be offering to Canadians. Now that we have the technical infrastructure built out to add more currencies safely and efficiently, I'm excited to announce that we will be adding more coins to our offering in the near future," Cole Diamond, CEO of Coinsquare, was quoted as saying in a company statement.

"The carefulness that we took with listing XRP will enable us to more seamlessly support coins moving forward, and has allowed Coinsquare to have the groundwork in place for more streamlined expansion," said Thomas Jankowski, Chief Digital and Growth Officer of Coinsquare.

Coinsquare is Canada’s leading cryptocurrency exchange. It was founded in 2014 and supports crypto-for-fiat (CAD) and crypto-for-crypto trading. In addition to XRP, the platform offers Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin and Dash.

Recently, Coinsquare announced it has set up a new division, called Coin Capital Investment Management Inc (Coincapital), that will provide users with a variety of investment services revolving around blockchain, cryptocurrencies, artificial intelligence (AI), and other innovative technologies.

Also in July, Coinsquare revealed plans to expand to Japan and open a crypto exchange there, in partnership with blockchain investment bank DLTA 21 Blockchain. There has also been talk of Coinsquare venturing south of the border, to the USA.