Acquisition of Skyrun Technology and Digital Currency Brokerage Platform
Canadian-based Coronado Resources has announced the acquisition of the outstanding common shares of Skyrun Technologies Corporation. Coronado has acquired the company and the digital currency brokerage platform it was currently developing. The platform is scheduled to launch in Canada later this year in which registered users can deposit and sell cryptocurrency. Coronado has stated it is pursuing business opportunities in the technology sector.
Coronado is best known as an energy and natural resources provider currently classified as a ‘Utility’ issuer. The acquisition of Skyrun will constitute as a ‘change of business’ subject to approval from the Toronto Stock Exchange (TSX), Venture Exchange, issuing the shares in Skyrun. Once approved Coronado will become a digital asset exchange able to provide customers with the means to sell Bitcoin through their platform.
Skyruns brokerage platform will use a variety of API and payment instructions to facilitate orders for both buying and selling crypto. Exchanges need to provide an innovative, secure experience whilst meeting regulatory compliance to keep competitive. The company also develops solutions for wallets and exchanges for commerce applications with a global network of financial and payment partners. These partners will be able to provide users with the ability to withdraw earnings accrued through selling Bitcoin.
There seems to be no stopping companies investing in the benefits of blockchain technology and the cryptocurrencies they power. Hopefully regulation of the space will keep up with the innovation of technology and services.
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