{"id":81604,"date":"2023-07-12T12:45:44","date_gmt":"2023-07-12T09:45:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81604"},"modified":"2025-09-11T23:56:30","modified_gmt":"2025-09-11T20:56:30","slug":"wonderfi-coinsquare-and-coinsmart-form-canadas-largest-crypto-exchange","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/wonderfi-coinsquare-and-coinsmart-form-canadas-largest-crypto-exchange\/","title":{"rendered":"WonderFi, Coinsquare and CoinSmart form Canada&#8217;s largest crypto exchange"},"content":{"rendered":"<p>The companies WonderFi, Coinsquare and CoinSmart have finalised the deal, resulting in the formation of a Bitcoin exchange with 1.65 million users and assets of around $600 million, <a href=\\\"https:\/\/betakit.com\/wonderfi-coinsquare-coinsmart-merge-as-landmark-canadian-crypto-deal-closes\/\\\"> Betakit<\/a> reports.<\/p>\n<p>The intention of the organisations to create Canada&#8217;s largest regulated crypto platform<a href=\"https:\/\/forklog.com\/en\/news\/wonderfi-coinsquare-and-coinsmart-to-launch-canadas-largest-regulated-crypto-asset-trading-platform\"> became known<\/a> in April 2023.<\/p>\n<p>It is expected that Coinsquare shareholders will own 43% of the merged entity, WonderFi&#8217;s shareholders 38%, and CoinSmart&#8217;s shareholders 19%. The company&#8217;s securities will be listed on the <span data-descr=\\\"Toronto Stock Exchange\\\" class=\\\"old_tooltip\\\">TSX<\/span> under the ticker WNDR.<\/p>\n<p>The conglomerate will own the Bitbuy, Coinberry, Coinsquare, CoinSmart, SmartPay, CBIX, Bitcoin.ca and the not-yet-launched BetLegend. All three companies will unite under the name Coinsquare.<\/p>\n<p>In April, in an interview with<a href=\\\"https:\/\/www.theglobeandmail.com\/business\/article-wonderfi-to-wind-down-coinsmart-as-deal-to-form-canadas-largest-crypto\/\\\"> The Globe and Mail<\/a>, interim WonderFi CEO Din Skurka said that in the coming months the firm intends to wind down the CoinSmart platform and \\&#8221;carefully decide\\&#8221; which parts of the business it will keep and which it will drop.<\/p>\n<p>News of negotiations between WonderFi and Coinsquare<a href=\"https:\/\/forklog.com\/en\/news\/wonderfi-confirms-talks-to-acquire-coinsquare\"> were disclosed<\/a> in early 2023. At that time, the parties had only begun discussing a potential deal.<\/p>\n<p>Earlier 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 of<\/a> 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\\\">announced<\/a> the termination of the deal. In April the disagreements were resolved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The companies WonderFi, Coinsquare and CoinSmart have finalised the deal, resulting in the creation of a Bitcoin exchange with 1.65 million users and assets of around $600 million.<\/p>\n","protected":false},"author":1,"featured_media":81605,"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":[771,1166,838,1235],"class_list":["post-81604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-centralized-exchanges-cex","tag-coinsquare","tag-mergers-and-acquisitions"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81604","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=81604"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81604\/revisions"}],"predecessor-version":[{"id":81606,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81604\/revisions\/81606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81605"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}