This week the acquiree announced that they’ve received notice from Coinsquare claiming to terminate the acquisition offer.
With the proposed acquisition and integration, Coinsquare would have become one of Canada’s largest crypto asset trading platforms with a diversified and compliant offering across various business lines including both retail and institutional trading, crypto payment processing, and digital asset custody.
According to CoinSmart’s announcement, their management and its board of directors are in the process of evaluating the validity and effectiveness of Coinsquare’s purported termination of the Share Purchase Agreement.
Founded in 2014, Coinsquare provides customers with a proprietary platform engineered to deliver a robust, secure, and intelligent interface for trading Bitcoin, Ethereum, Litecoin, and other digital assets.
Coinsquare has grown to become Canada’s oldest operating digital asset firm, trading on behalf of over half a million Canadians.
CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a marketplace with the Ontario Securities Commission. CoinSmart is also one of the first Canadian headquartered trading platforms to have an international presence, accepting customers across 40+ countries at a time when the digital asset industry continues to rapidly expand.