With the merger of the three Canadian crypto exchanges, the combined platform would become one of the largest crypto trading platforms around the world. WonderFi, Coinsquare and CoinSmart have together amassing 1.65 million users and over $600 billion in assets under custody.

This isn't first time these firms have come together. In January, according to reports, WonderFi and Coinsquare were in advanced talks to combine and subsequently Coinsquare concluded an agreement to buy Coinsmart. But now the merger of these three companies has been announced, with the aim of becoming one of the largest crypto trading companies.

According to WonderFi President, Dean Shurka, “With the merger of the three Canadian crypto exchanges, the combined platform would have the scale to be the market leader in Canada, a strong balance sheet that will allow for expansion, and a clear path to profitability.”

The merged platforms would have advantages such as increased number of customers, providing customers a larger selection of products and services and expanding their reach to global cryptocurrency customers. Together these three companies plan to reduce costs using shared technology, and infrastructure, making cryptocurrency investments available to the everyday Canadian investor and creating a formidable challenger in the global cryptocurrency industry.

The effects are already being felt as WNDR shares have gone 43.75% up to C$0.23 in early trading after reports of the pending merger. Strategically investor to WonderFi, Kevin O'Leary, is also confident of the company’s new initiatives.

This merger is a huge step for the Canadian crypto market, and could potentially create one of the largest crypto trading platforms in the world. This could increase accessibility to everyday investors, turn crypto investments into a more secure option for investors and increase adoption of the crypto industry.



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