coin square I plan to buy a rival coin smart In a deal worth approximately C$29 million to establish the company as one of Canada’s largest cryptocurrency trading platforms.
After the acquisition and integration, CoinSmart will retain approximately 12% ownership of Coinsquare on a pro forma basis. The combined company has transacted more than $10 billion since January 2018. He also has $350 million in assets under custody and a user base totaling over his million.
CoinSmart described the acquisition as an exciting day. Justin HertzmanCEO of CoinSmart said:
With a diverse product suite, outstanding crypto talent, and one of Canadas largest user bases, the combined company is well positioned to pursue aggressive expansion plans. While still in the building phase of the cycle, this trade will provide the necessary torque to position itself well for the next bull market.
On the other hand, Coinsquare CEO Martin Pizet This acquisition marks a monumental and exciting milestone for both companies and brings together two industry-leading management teams. We are excited to together shape how the Canadian crypto industry grows and evolves. This enables us to offer our customers the most innovative and safest products backed by the highest regulatory standards in the industry.
combined platform
The combined company will process over $10 billion in cryptocurrency transactions and $350 million in assets under custody since January 2018. It offers a diverse and regulated platform across trading, payments, wealth management and digital asset management. Bitcoin, Ethereum, Litecoin and other digital assets are traded.
Purchase price is subject to standard post-closing adjustments upon transaction closing Be expected During Q4 2022. eight capital As its financial advisor, Wildeboer Dellelce LLP as its legal adviser. Meanwhile, Coinsquare has hired Origin Merchant Partners as financial advisor, Goodman’s LLP as its legal adviser.
Coinsquare is currently seeking regulatory approval. Investment and Industry Regulatory Organization of Canada (IIROC).