{"id":76648,"date":"2023-04-04T11:48:42","date_gmt":"2023-04-04T08:48:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76648"},"modified":"2025-09-10T18:36:31","modified_gmt":"2025-09-10T15:36:31","slug":"wonderfi-coinsquare-and-coinsmart-to-launch-canadas-largest-regulated-crypto-asset-trading-platform","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/wonderfi-coinsquare-and-coinsmart-to-launch-canadas-largest-regulated-crypto-asset-trading-platform\/","title":{"rendered":"WonderFi, Coinsquare and CoinSmart to Launch Canada&#8217;s Largest Regulated Crypto-Asset Trading Platform"},"content":{"rendered":"<p>WonderFi, Coinsquare and CoinSmart will merge their businesses to create a joint platform for trading digital assets in Canada.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">PRESS RELEASE: WonderFi, Coinsquare and CoinSmart to Combine to Create Canada\u2019s Largest Regulated Crypto Asset Trading Platform with 1.65 Million Registered Users<\/p>\n<p>FULL DETAILS: <a href=\"https:\/\/t.co\/wnETQ4YOOr\">https:\/\/t.co\/wnETQ4YOOr<\/a> <a href=\"https:\/\/t.co\/8SxdssHW2A\">pic.twitter.com\/8SxdssHW2A<\/a><\/p>\n<p>\u2014 WonderFi (@WonderFi) <a href=\"https:\/\/twitter.com\/WonderFi\/status\/1642876516877910024?ref_src=twsrc%5Etfw\">April 3, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The merger is expected to expand the service&#8217;s customer base to 1.65 million users, with initial capital investments reaching $50 million.<\/p>\n<p>The new ecosystem will offer the following services:<\/p>\n<ul class=\"wp-block-list\">\n<li>retail and institutional trading of digital assets;<\/li>\n<li>global processing of crypto transactions;<\/li>\n<li>sports betting and video games;<\/li>\n<li>staking programs;<\/li>\n<li>trading fractional shares.<\/li>\n<\/ul>\n<p>All three companies will operate under the name Coinsquare.<\/p>\n<p>The board of directors unanimously approved the deal, but the final merger will take place in the second half of 2023 after shareholder votes.<\/p>\n<p>The conglomerate will own the platforms Bitbuy, Coinberry, Coinsquare, CoinSmart, SmartPay, CBIX, Bitcoin.ca and the yet-to-launch BetLegend.<\/p>\n<p>In October 2022, Coinsquare became the first cryptocurrency trading platform to register and gain membership in the Investment Industry Regulatory Organization of Canada.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cFor many years, regulation for crypto platforms was considered a drawback, as competitors offering services without the burden of compliance costs were far more profitable. Those days are over,\u201d said WonderFi representative Kevin O\u2019Leary.<\/p>\n<\/blockquote>\n<p>The documents show that the combined revenue of the three companies in 2022 was about $37 million.<\/p>\n<p>Information about talks between WonderFi and Coinsquare <a href=\"https:\/\/forklog.com\/en\/news\/wonderfi-confirms-talks-to-acquire-coinsquare\">was disclosed<\/a> in early 2023. At that time, the parties had only begun discussing a potential deal.<\/p>\n<p>In July 2022, WonderFi <a href=\"https:\/\/forklog.com\/en\/news\/wonderfi-closes-acquisition-of-coinberry\">acquired<\/a> the Canadian cryptocurrency exchange Coinberry.<\/p>\n<p>In September, Coinsquare <a href=\"https:\/\/forklog.com\/en\/news\/coinsquare-to-acquire-publicly-traded-coinsmart\">announced the purchase<\/a> of the publicly traded cryptocurrency exchange CoinSmart. However, in January 2023 the latter <a href=\"https:\/\/www.newswire.ca\/news-releases\/coinsmart-announces-receipt-of-notice-from-coinsquare-ltd-purporting-to-terminate-share-purchase-agreement-859339379.html\">\u043e\u0431\u044a\u044f\u0432\u0438\u043b\u0430<\/a> \u043e \u0440\u0430\u0441\u0442\u043e\u0440\u0436\u0435\u043d\u0438\u0438 \u0441\u0434\u0435\u043b\u043a\u0438.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WonderFi, Coinsquare and CoinSmart will merge their businesses to create a joint platform for trading digital assets in Canada.<\/p>\n","protected":false},"author":1,"featured_media":76649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[771,1166,1235],"class_list":["post-76648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-centralized-exchanges-cex","tag-mergers-and-acquisitions"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76648"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76648\/revisions"}],"predecessor-version":[{"id":76650,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76648\/revisions\/76650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76649"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}