Crypto trading platform reveals new leadership team as it aims to become Canada's first regulated marketplace for digital assets
Digital asset platform Coinsquare is bolstering its leadership team as it pursues its commitment to creating a secure, regulated crypto trading marketplace for Canadians.
The platform has announced the appointment of Nicholas Thadaney and Wendy Rudd to its board of directors.
A senior executive with over 25 years of experience in finance, technology, and corporate markets, Thadaney’s career includes being president of the Toronto Stock Exchange and CEO of Global Equity Capital Markets, TMX Group. Rudd, meanwhile, spent over seven years at IIROC as a senior vice president, playing an instrumental role in modernizing the regulation of Canadian equity and debt markets as well as the prudential regulation of investment dealers.
The appointments of Thadaney and Rudd follow Coinsquare’s confirmation of Stacey Hoisak as its new CEO, as well as the additions of Lawrence Truong as chief compliance officer and Eric Richmond as COO. Hoisak, Truong, and Richmond likewise bring to the table significant experience and expertise in Canadian securities regulation, investment dealer operations, and regulated marketplace.
“The outstanding leaders who have joined our executive team and Board will play an important role in informing and executing our mandate to deliver full transparency and compliance in all aspects of our operations,” Hoisak said.
Coinsquare has also submitted a dealer membership application to the Investment Industry Regulatory Organization of Canada (IIROC) as well as an application to the Ontario Securities Commission (OSC) to operate Canada’s first regulated marketplace for digital assets.
The drive to establish oversight of crypto assets in Canada got a significant push last year following the high-profile collapse of the QuadrigaCX digital coin exchange due to the reported death of founder Gerald Cotton. Between allegations of misappropriation of funds and digital vaults proving inaccessible, the defunct exchange was found to owe investors more than $200 million.
The proposed marketplace will feature automated trading systems, bringing together institutional and retail orders from buyers and sellers of digital assets deemed securities under the Ontario Securities Act.
“The measures we have taken are in strict adherence to regulatory requirements and demonstrate Coinsquare’s strengthened commitment to our clients, employees, shareholders, and the digital asset community,” Hoisak said. “Our goal is to create a customer-centric safe place for Canadians to trade digital assets.”
