Wonderify Technologies Inc., Coinsquare Ltd., and CoinSmart Financial Inc. merged to form Canada's largest regulated crypto-asset trading platform, with more than 1.65 million users.
The newly merged company will provide a wide range of diverse goods and services, such as cryptocurrency trading for businesses and individuals, B2B cryptocurrency payment processing, sports betting, gaming, and other related activities.
The new company, which will manage more than $17 billion, was said to own assets worth more than $600 million, according to the announcement.
In contrast, the new business intends to increase its revenue potential by diversifying its product offerings, which are anticipated to attract a wide range of customers. When the merger is finished, the business is expected to own about $50 million and not have any debts.
Dean Skurka, interim CEO and chief Wonderify, responded in turn:
By combining Coinsquare and CoinSmart, we will create a novel platform on which users can trade, earn, and pay with cryptocurrencies, invest in stocks, and place bets in a unified ecosystem. It is important to note that CoinSmart, a cryptocurrency exchange established in 2018, acquired Coinsquare in September of last year for an undisclosed sum.
Furthermore, I became Coinsquare In October, the first crypto trade to get enrolled with The Speculation Business Administrative Association of Canada (IIROC)..
As that WonderifyUpheld by the finance manager Kevin O'LearyIn January, it affirmed that it was in discusses a potential consolidation with Coinsquare.
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