CoinTrader to go public soon

CoinTrader, a Canada-based bitcoion exchange, has been acquired by Newnote Financial Corp for CAD $1.5 million ($1.18 million) in cash and stock and will be going public following the takeover.

Newnote Financial is involved in various digital currency related ventures. It is publicly traded on the Canadian Securities Exchange (CSE) and also on US OTC markets. Moreover, it is also listed on the Frankfurt Stock Exchange. It trades at CAD $0.19 per share at present, with total valuation at around CAD $5.77 million.

CoinTrader has been showing considerable growth, helped by the recent closures of major Canadian bitcoin exchanges Vault of Satoshi and CARVIRTEX. It added a CAD order book earlier this year.

Newnote has been working on developing its own trading platform 'PureTrade' reportedly, but for now it focuses on CoinTrader.