Top Canadian cryptocurrency asset trading platform, Coinsquare has entered into a decisive agreement with CoinSmart Financial Inc to purchases the crypto trading platform.
According to the development, Coinsquare acquired all issued and remaining equity of wholly-owned operating subsidiary Simply Digital Technologies Inc. This is the unit that owns and operates the CoinSmart trading platform. Consequently, the acquisition and integration of the platform will make Coinsquare become one of the biggest and leading trading platforms in Canada.
Following the acquisition, CoinSmart will own about 12% of Coinsquare on a Pro-formal level, and the firm would benefit from considerable revenue and cost synergies through cross-selling opportunities and expense optimization. Meanwhile, Coinsquare is coming close to its application to become Canada's first licensed crypto asset trading platform as an Investment Industry Regulatory Organization of Canada ("IIROC") dealer and marketplace operator....
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