Coinsquare’s commitment to asset security

Coinsquare is Canada’s leading digital asset trading platform. Our mission drives us towards the pursuit of modernizing finance, creating an easy way to access digital assets, and providing a secure ecosystem for our customers to buy, sell and trade their assets. 

In the crypto market, every day can be unpredictable and asset security can become a real concern for our customers. Coinsquare has implemented robust protocols and safeguards as well as industry leading security technology, and we continue to take additional steps to protect your assets in a safe and secure manner.

For transparency, let us walk you through why your assets are in safe hands:

  • Coinsquare does not lend out or re-hypothecate our client’s assets. We are aware of the concerns being raised in the digital asset lending space on other platforms, but this does not impact your assets at Coinsquare. 
  • Coinsquare has strong business fundamentals and all of our corporate and client assets are safe and secure.
  • All client digital assets are segregated from Coinsquare’s own assets, and we do not use client assets for liquidity purposes or market-making. 
  • All client digital assets are held in cold storage at external, licensed trust companies that are approved, independently regulated digital asset custodians (Coinbase Custody and Tetra Trust Company).  Coinsquare uses only its own funds to facilitate client withdrawals. 
  • In accordance with our terms of use, your digital assets are held for you in trust, which means that you retain legal title to your assets, and they would not be subject to the claims of our creditors in the unlikely event of a Coinsquare insolvency.
  • Coinsquare’s independently regulated custodial partners, Tetra Trust and Coinbase Custody, alongside our hot wallet provider Fireblocks, offer a combined $470M in insurance for customer assets. Additionally, all fiat funds are held at a regulated Canadian Financial Institution covered by government regulated deposit insurance. 
  • Coinsquare is SOC 1 audited and is subject to annual third-party financial audits which verify that our assets under management meet or exceed our customer liabilities.
  • Coinsquare is working diligently with IIROC and the OSC to become the first native IIROC crypto investment dealer and regulated Alternative Trading System in Canada. Currently, a number of the crypto-asset trading platforms in the market operate under a temporary restricted dealer registration with the provincial securities commissions and will be obligated, under the terms of their exemption orders, to transition to the permanent IIROC regulatory framework and comply with the IIROC dealer requirements that Coinsquare will be approved under from the outset. 
  • Coinsquare systems are hardened with SSL and are regularly stress-tested to protect against DDoS attacks. We also offer clients the ability to turn on two-factor authentication (2FA) which we highly recommend for all clients. 

We will continue to prioritize the security of your assets and hold ourselves accountable to our valued customers.  Please contact us if you have questions on any of the information provided on this topic.  

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