WonderFi Joins Forces with Coinsquare and CoinSmart to Create Canada’s Biggest and Most Secure Crypto Trading Platform
Canada’s crypto trading platforms are set to face ‘enhanced’ rules under new regulations as the country’s financial regulators seek to increase oversight and address concerns over money laundering and fraud. While the new regulations may be seen as a burden by some in the crypto industry, many firms are taking steps to comply with the new rules and are forming secured and regulated crypto platforms. In recent news, WonderFi, a leading digital asset platform, has merged with Coinsquare and CoinSmart to create Canada’s largest regulated crypto trading platform. This marks a significant milestone in the Canadian cryptocurrency landscape, as the merger brings together three of the most trusted and secure platforms in the industry.
Canada Gets Its Largest Crypto Trading Platform
WonderFi Technologies Inc., Coinsquare Ltd., and CoinSmart Financial Inc., all Canadian-based companies, have announced their merger to create the largest regulated crypto asset trading platform in Canada.
With over 1.65 million registered users, the new entity will offer Canadians a comprehensive range of products and services. These include retail and institutional crypto trading, staking products, business-to-business crypto payment processing, sports betting, and gaming. The newly-merged company has transacted over $17 billion since 2017 and has over $600 million in assets under custody.
After the merger, the combined company aims to broaden its revenue potential by expanding its product offerings, which are expected to attract a wider range of customers. The newly formed company is projected to have at least $50 million in cash and investments, with no outstanding debt.
Crypto Firms to Follow Canada’s Strict Crypto Rules
In September of last year, Coinsquare acquired CoinSmart, a cryptocurrency exchange established in 2018, for an undisclosed sum. Just a month later, in October, Coinsquare became the first crypto exchange to receive dealer registration from the Investment Industry Regulatory Organization of Canada (IIROC). As a result of IIROC’s regulatory requirements, Coinsquare must report its financial position and maintain sufficient capital for liabilities. In exchange, customer accounts are safeguarded by the Canadian Investment Protection Fund in case of insolvency.
WonderFi president and interim CEO Dean Skurka said,
“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.”
The merger of WonderFi, Coinsquare, and CoinSmart is a significant development for the Canadian cryptocurrency industry. It brings together the expertise, experience, and resources of three leading players in the market, creating a platform that is both secure and innovative. The new platform is expected to set a new standard for crypto trading in Canada and provide investors with an unparalleled trading experience.
Coinsquare First Exchange Receiving IIROC Approval In Canada
The Investment Industry Regulatory Organization of Canada recently agreed to let Coinsquare operate within its borders, improving the prospects for those who want to trade crypto within the country. Previously, buying and selling cryptocurrencies was less than straightforward in Canada, and this is news many residents have been eagerly anticipating.
The news also shows an increased acceptance that crypto is here to stay and has a considerable future. With trading options now improved for Canadian residents, so are the prospects for several different crypto projects. Uniglo looks set to capitalize on this news and continue its expansion into North America.
Uniglo (GLO)
Uniglo is one of the most eagerly anticipated crypto launches for some time, but it’s still available at a discount during pre-sale for a few weeks longer. This gives you a small window to act, as many experts expect it to fire further up the price charts when it hits mainstream exchanges. Current prices may be a massive saving compared to what many expect GLO to achieve in the coming months.
The world needs an answer when inflation is rising in the global economy and things are becoming more expensive in stores. That answer is Uniglo, which has the most robust set of deflationary credentials ever seen in crypto.
With the innovative GLO vault, a range of assets are held, which include NFTs, digital gold, crypto, and more. These provide a solid base price for GLO, which isn’t prone to massive pumps and dumps or over-speculation. GLO is wholly protected against market volatility and gives investors complete peace of mind.
The radical dual-burn mechanism takes things further for GLO by ensuring the token becomes more scarce over time, with the strongest burn tokenomics in the business.
Conclusion
Crypto’s move into Canada could help boost the price of Uniglo. It’s well-placed to become a key player in the future of the space, so now might be the perfect time to invest.
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