Coinsquare, WonderFi and CoinSmart Create Canada’s Largest Crypto Exchange
Negotiations to create the largest regulated crypto platform in Canada concluded successfully in April between WonderFi, Coinsquare, and CoinSmart.
The conglomerate had 1.65 million users and ~$600 million in assets and planned to merge under the name Coinsquare.
Through the acquisition, shareholders from all three companies were expected to own 43%, 38%, and 19% of the company, respectively.
The engineering of the deal saw WonderFi purchase Canadian cryptocurrency exchange Coinberry back in July 2022.
However, a breakdown at the beginning of 2023 between Coinsquare and CoinSmart led to the termination of negotiations.
Luckily, the differences were settled and the deal finalized in April. The company’s securities are expected to be issued on the TSX under the ticker symbol WNDR.
The conglomerate owns the platforms Bitbuy, Coinberry, Coinsquare, CoinSmart, SmartPay, CBIX, Bitcoin.ca and the soon-to-launch BetLegend.
