Wall Street-based Coinsetter will move CAVIRTEX headquarters office to Toronto and integrate its institutional-class exchange technology to offer Canadian bitcoin traders a best-in-class Canadian Dollar bitcoin exchange
NEW YORK, NY (April 8, 2015) - Coinsetter, the global bitcoin exchange based in New York City, today announced the acquisition of Canadian Virtual Exchange, commonly known as CAVIRTEX, a major Canadian bitcoin exchange operating since 2011. The acquisition marks the first major consolidation in the bitcoin exchange market, and represents one of the largest M&A deals to take place in the burgeoning digital currency space.
Alongside its acquisition, CAVIRTEX today has reopened its doors to customers and resumed trading under Coinsetter’s leadership. Both exchanges will remain open for business in their own names, sharing technology, capital, management and banking access to maximize the value to traders. Previous account holders at CAVIRTEX and Coinsetter will continue to be able to use their existing login credentials at the same websites to access their accounts.
The acquisition was completed through a negotiated agreement with CAVIRTEX voting shareholders. Coinsetter chief executive Jaron Lukasiewicz has been named CEO of CAVIRTEX, effective today.
Jaron Lukasiewicz, CEO of Coinsetter and CAVIRTEX said, “Coinsetter is proud to make Canadian bitcoiners a core focus of our company through CAVIRTEX, the most profitable and longest-running bitcoin exchange in Canada. Together we are making history, combining talent and resources to give clients an unparalleled BTC-CAD trading experience with a wide range of domestic bank transfer options.”
Marshall Swatt, CTO of Coinsetter added, “Traders have trusted Coinsetter since 2012 to provide the best combination of high speed trading technology, ironclad security and liquid markets. As we integrate Coinsetter’s CSX exchange technology into CAVIRTEX in the coming weeks, we will create an unparalleled Canadian bitcoin exchange with low latency trade execution, margin trading and growing interaction with customers through our Toronto office.”