Mogo has agreed to buy a nearly 20% stake in the cryptocurrency trading platform operator and will have the right to double this through a secondary transaction.
Digital wallet provider Mogo has agreed to invest approximately $56.4m in Canada-based cryptocurrency trading platform Coinsquare for a 19.9% stake.
The deal, which is expected to close in the first quarter of 2021, includes the right for Mogo to acquire an additional 20% stake in Coinsquare from current shareholders.
The two companies already had a multi-year relationship, with Coinsquare acting as the trading platform for Mogo’s cryptocurrency services product, MogoCrypto, which launched in 2018.
Founded in 2014, Coinsquare operates an…
