Coinsquare Acquires CoinSmart to Float a Dominant Crypto Exchange in Canada

Coinsquare, a top Canadian cryptocurrency trading platform has reached a definitive agreement with CoinSmart Financial Inc in order to purchase the crypto trading platform. 

According to the developmentCoinsquare purchased all equity and issued shares of Simply Digital Technologies Inc., a wholly-owned subsidiary. This unit is responsible for the operation and ownership of the CoinSmart trading platform. The following is the Acquisition Coinsquare will become Canada’s largest and most trusted trading platform when it integrates with the platform. 


CoinSmart will now own approximately 12% in Coinsquare on a pro-formal basis. This acquisition would bring the firm significant revenue and cost savings through cross-selling and expense optimization. Coinsquare is close to submitting its application to be Canada’s first licensed cryptocurrency asset trading platform.


Martin Piszel, CEO of Coinsquare, stated that the acquisition is a significant and exciting milestone for both businesses and brings together two industry-leading management groups.


What are the benefits of the transaction? 


With over 1,000,000 users and more than $10 billion in cryptocurrency transactions since January 2018, the firm will be Canada’s largest crypto asset trading platform. The community will also have access to CoinSmart’s Get Smart hub, which provides reliable information and learning resources on cryptocurrencies. This will make learning easy for everyone.


Coinsquare will make use of the acquisition to speed up time-to-market. It will also combine technologies to improve the tech stack and bring more features, functionality, products and products to the market faster. SmartPay will be the payment system used by Coinsquare. This will make it easy to receive crypto payments. You can convert crypto to fiat for same-day payouts.


Justin Hartzman, CEO of CoinSmart, has voiced his opinion on the deal. The CEO expresses excitement.


“We are thrilled to be working alongside the Coinsquare team to build one of the largest regulated crypto asset trading platforms in Canada and I could not be more proud of what we have accomplished so far.”


CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way of buying and selling digital assets.

Image source: Shutterstock



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