Toronto-based Coinsquare Ltd., a trading platform for cryptocurrencies, is entering the wealth-management business with the launch of Coin Capital Investment Management Inc.
Coin Capital, a subsidiary of Coinsquare, is registered through the Ontario Securities Commission as an exempt-market dealer, investment fund manager and portfolio manager. The new wealth division will offer investment products focused on emerging technologies such as blockchain, artificial intelligence (AI) and cryptocurrencies.
“With the launch of Coin Capital, we will leverage our knowledge of the emerging technology sector to provide an excellent investment opportunity for Canadians across a wide range of high-growth assets,” said Cole Diamond, CEO of Coinsquare, in a statement.
Coin Capital also has entered into a partnership with Frankfurt-based Deutsche Boerse Group’s index provider, STOXX, to launch two indices. One index will focus on AI and biotech, and the other will focus on blockchain technology.
The iSTOXX Development Markets B.R.AI.N. Index, which went live on July 26, tracks a diversified portfolio of global securities focused on the biotech, robotics, AI and nanotechnology sectors.
The STOXX Yewno Developed Markets Blockchain Index will track the blockchain sector by using proprietary AI algorithms to identify companies that invest heavily in this technology. This index has not yet launched.
“We are at a critical inflection point in the technology sector,” said Lewis Bateman, CEO of Coin Capital, in a statement, “and Coin Capital is perfectly positioned, given its relationship to Coinsquare and deep sector expertise, to take advantage of the next phase of industry growth.”