Tag: coinsmart

Crypto Exchange Coinsmart Announces Donations for Ukrainian Humanitarian Crisis

Canada-based cryptocurrency exchange CoinSmart said it would donate aid for the emergency humanitarian crisis in Ukraine to help Ukrainian refugees.

Justin Hartzman, CEO of CoinSmart, said that to show support for the people of Ukraine and to assist the international community in alleviating their immense suffering, CoinSmart has donated to official relief efforts and added that:

“Incredibly, $19 million in crypto has been raised so far and we implore our customers and the wider crypto community to come together in supporting the appeal and help in whatever way they can.”

CoinSmart also lists the official donation crypto wallet addresses for Bitcoin and Ethereum as well as the stablecoin Tether USDT as follows,

Bitcoin (BTC) – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P

Ethereum (ETH) and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14

CoinSmart is also one of six crypto-asset trading platforms registered as a securities dealer and market by the Ontario Securities Commission. The Ontario Securities Commission listed six crypto platforms that had registered with the OSC last year, including Weathsimple, Coinberry, Netcoins, Coinsmart, Fidelity, and Bitbuy.

As reported by Blockchain.News on Feb 28, The entire public, particularly the crypto-savvy population, has shown solidarity with Ukraine and raised more than $10 million since the call.

Coinsquare Acquires CoinSmart to Float a Dominant Crypto Exchange in Canada

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.

Coinsquare CEO Martin Piszel expressed that the acquisition represents a monumental and exciting milestone for both companies and brings together two industry-leading management teams.

What are the Benefits of the Transaction? 

The firm will become one of Canada’s Largest Crypto Asset Trading Platforms, with a total user base of over 1 million and over $10 billion in crypto transactions since January 2018. Similarly, via CoinSmart’s Get Smart Hub, the community will have a reliable source for information and learning resources about cryptocurrencies, making learning simple and available to everyone.

Coinsquare will leverage the purchase to enhance speed-to-market, thereby combining technologies to optimize the tech stack and bring new features, functionality, and products to market faster. The platform will also have a peculiar payment system such as SmartPay. This will be an easy way to receive crypto payments by converting crypto to fiat with same-day payouts.

CoinSmart CEO Justin Hartzman has expressed his opinion regarding the deal. The CEO lends his excitement;

“We are thrilled to be working alongside the Coinsquare team to build one of the largest regulated crypto asset trading platforms in Canada and I could not be more proud of what we have accomplished so far.”

CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way of buying and selling digital assets.

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