Canada’s leading cryptocurrency asset trading platform, Coinsquare has reached a landmark deal with CoinSmart Financial Inc to purchase the cryptocurrency trading platform.
According to the development, Coinsquare has acquired all of the issued and remaining shares of wholly owned operating subsidiary Simply Digital Technologies Inc. This is the unit that owns and operates the CoinSmart trading platform. Consequently, the acquisition and the platform integration will make Coinsquare one of the largest and most important trading platforms in Canada.
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Following the acquisition, CoinSmart will own approximately 12% of Coinsquare at a pro-formal level, and the business will benefit from significant revenue and cost synergies through cross-selling opportunities and expense optimization. Meanwhile, Coinsquare is nearing its bid to become Canada’s first licensed crypto asset trading platform as an Investment Industry Regulatory Organization of Canada broker-dealer and market operator (“ IIROC”).
Coinsquare CEO Martin Piszel said the acquisition represents a monumental and exciting step for both companies and brings together two cutting-edge management teams.
What are the advantages of the transaction?
The company will become one of the largest crypto asset trading platforms in Canada, with a total user base of over one million and over $10 billion in crypto trades since January 2018. via CoinSmart’s Get Smart Hub, the community will have a reliable source of information. and cryptocurrency learning resources, making learning simple and accessible to everyone.
Coinsquare will leverage the purchase to improve speed to market, combining technologies to optimize the tech stack and bring new features, functionality, and products to market faster. The platform will also have a particular payment system such as SmartPay. It will be an easy way to receive crypto payments by converting crypto to fiat with same day payments.
CoinSmart CEO Justin Hartzman has expressed his opinion on the deal. The CEO lends his enthusiasm;
“We are thrilled to be working alongside the Coinsquare team to build one of the largest regulated crypto asset exchanges in Canada and I couldn’t be prouder of what we’ve accomplished so far. here.”
CoinSmart is a Canadian-headquartered crypto asset trading platform dedicated to providing clients with an intuitive way to buy and sell digital assets.
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Coinsquare Acquires CoinSmart To Launch A Dominant Crypto Exchange In Canada
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