Three Canadian crypto platforms merge to create a regulated giant

Three Canadian crypto platforms, WonderFi (WNDR), Coinsquare and CoinSmart, announced recently that they have signed a business combination agreement to merge their trading businesses into a regulated crypto asset trading platform that offers a variety of products and services to Canadian retail and institutional customers.

According to the announcement, the three platforms have a combined trading volume of over $17 billion, custodial assets of over $600 million and more than 1.65 million registered users. The merged platform will continue to use the Coinsquare brand, while WonderFi and CoinSmart will operate as its sub-brands.

The merged platform will leverage its respective technological advantages and market positions to offer customers a range of products and services, including crypto trading, staking products, B2B crypto payment processing and more. It also plans to launch sports-related products and services in the future.In addition, the merged platform will comply with Canadian regulatory requirements and provide customers with a safe, reliable and compliant trading experience.

This merger is an important milestone in the development of the Canadian crypto industry and a strong response to the increasingly harsh crackdown on crypto platforms by US regulators. Some industry experts believe that this merger will help enhance Canada’s competitiveness and influence in the global crypto market.