WonderFi Joins Forces with Coinsquare and CoinSmart – The combination of the Canadian businesses WonderFi Technologies Inc, Coinsquare Ltd, and CoinSmart Financial Ltd, who, taken as a whole, have more than 1.65 million users registered, would become Canada’s biggest regulated crypto asset trading platform.
A wide variety of varied products and services, including retail and institutional cryptocurrency trading, staking goods, business-to-business cryptocurrency payment processing, sports betting, and gaming, will be made available to Canadians by the newly combined company. The newly united company will have handled more than $17 billion since 2017 and will have more than $600 million in assets in its care, according to the press release.
See Tweet Below
PRESS RELEASE: WonderFi, Coinsquare and CoinSmart to Combine to Create Canada’s Largest Regulated Crypto Asset Trading Platform with 1.65 Million Registered Users
— WonderFi (@WonderFi) April 3, 2023
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The combined company wants to increase its product selection, which should appeal to a wider range of customers and hence improve its revenue prospects. By the time the merger is complete, it is anticipated that the combined company will be debt-free and have at least $50 million in cash and investments.
“What we will deliver with the combination of both Coinsquare and CoinSmart is a unique platform where users will trade, earn and pay with crypto, invest in equities, and soon, place wagers all in one compliant ecosystem,”
– WonderFi president and interim CEO Dean Skurka
Founded in 2018, CoinSmart was a cryptocurrency exchange that Coinsquare purchased in September of last year for an unknown sum. Coinsquare is expected to publish its financial condition and keep enough cash on hand to cover liabilities under the Investment Industry Regulatory Organization of Canada (IIROC)’s regulatory authority. In return, the Canadian Investment Protection Fund will safeguard client accounts in the case of bankruptcy.
In January, Kevin O’Leary supported WonderFi and said that it was in discussions with Coinsquare regarding a potential merger. At that time, WonderFi made it clear that there was no assurance that an agreement would be reached because the conversations were still in their early stages.
WonderFi Price Prediction
The current price of WonderFi is $ 0.175000. Based on our most recent price prediction, we anticipate a 0.00% increase in value, reaching $ 0.175000 by April 8, 2023. The Fear & Greed Index is currently displaying 63, but our technical indicators indicate that the current sentiment is Neutral (Greed). Over the previous 30 days, WonderFi recorded 30/30 (100%) green days with 0.00% price volatility. Our WonderFi forecast indicates that this is a good time to buy WonderFi.