Newnote Financial Corporation Has Acquired CoinTrader For 1.5 Million CADCoinTrader.net was founded around two years ago by a group called Bitcoiniacs in Vancouver and is considered to be the second largest Canadian Bitcoin exchange.
This new purchase completes Newnote’s core business model not to mention that the exchange will be adding up to the Bitcoin gift card and mining businesses which are already under their power.Newnote has decided to obtain the existing Cointrader exchange instead of continuing the difficult process of developing their PureTrade Bitcoin trading platform.Indeed, the website PureTrade.ca redirects to CoinTrader.
net.Traders can therefore be watchful that the company is not indolent about getting the outcome; instead they are more than willing to take practical approach to their development.Newnote will be expanding operations of the exchange into all fifty US states as well as countless European countries with the help of Vogogo Inc.The exchange is said to have received 10,000 active accounts with a regular growth of 1,000 per month.
Currently, it will be the first exchange in the world to be publicly traded on three separate exchanges. Newnote stock has already started trading at $0.15 CDN, $0.09 USD and $0.14EUR, respectively.The purchases of solvent assets help to boost a stock’s value as well as expand a company’s business into new fields.With time, a lot of firms are expected to call their move upon the Bitcoin space, which recently gave the dejected market an optimistic overall feeling.Newnote CEO and President Paul Dickson seemed blissful regarding the news, as he quoted “This transaction positions Newnote as the de-facto leader in the crypto-currency space in Canada”.He also went on adding, “Cointrader.net, CoinZero and the ATM network offer our shareholders direct exposure to the primary revenue generators in the digital currency space; it is our mission to deliver on our promise to offer the most innovative products and services available.”The assets of Newnote render huge marketing campaigns following their announcement which is one of the benefits to CoinTrader.net.Advertising campaigns will be necessary since the field of Bitcoin is being flooded heavily due to another major exchange which is running up in the lead.CoinTrader co-founder and chief technology officer Paul Szczesny said the deal made sense for his company due to the four founders’ interest in expanding to other markets.“We’re not exiting the company,” he said, adding it has yet to be determined in what capacity he will be serving at Newnote.
