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CoinSmart Announces Q3 2021 Financial Results

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Toronto, Ontario–(Newsfile Corp. – November 15, 2021) – CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) (“CoinSmart”), a leading Canadian headquartered crypto asset trading platform, announces the release of the financial statements of Simply Digital Technologies Inc. (“Simply Digital”) for the interim period ended September 30, 2021 and related management discussion and analysis (“MD&A”). These documents will be posted on CoinSmart’s website at www.coinsmart.com and SEDAR at www.sedar.com.

Simply Digital is the “reverse takeover acquirer” for the reverse takeover transaction that was completed on October 27, 2021 after the end of the interim period. From an accounting perspective for comparative purposes, the financial results of CoinSmart for financial periods ending after completion of the reverse takeover will be those of Simply Digital.

CoinSmart’s Q3 2021 Highlights:

  • Q3 Revenue reached $3.27MM growing 238% YoY
  • Registered Users reached 150,353 growing 692% YoY
  • Quarterly Active Users grew by 651% YoY
  • Retail Trading Volume for the 9 month period ended September 30th grew by 1717% YoY
  • Assets Under Management (AUM) reached $65MM growing 660% compared to fiscal year ended December 31, 2020

Other CoinSmart 2021 Corporate Highlights

  • Continued geographic diversification with the launch of the Company’s retail trading platform in Europe.
  • Completed listing on NEO exchange including a concurrent subscription receipt financing for aggregate gross proceeds of CAD$12,642,900.
  • Approved as a restricted dealer by Ontario Securities Commission and all other securities regulators across Canada.
  • Launched Beta version of new compliance dashboard and monitoring tools.

CoinSmart CEO Justin Hartzman commented:
“Q3 2021 continued to show growth in the digital asset space with new entrants and improved on chain metrics. Q3 2021 did bring an industry wide decrease in global trading volume of 40% however CoinSmart’s trading volume decreased by only 23%. Q4 2021 has begun with a significant increase in global trading volume with the crypto assets market cap reaching a new all time high. CoinSmart is working on a number of product enhancements as well as further geographic expansion. We will provide additional details on these initiatives in a timely manner. With new additions to our team in legal, product and marketing we are poised for further growth in Q4 2021 and beyond.”

About CoinSmart

CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada to be registered as a securities dealer 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.

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For further information please contact:

Justin Hartzman
Chief Executive Officer
E-mail: [email protected]
Tel.: (647) 923-7678

  1. All figures stated above are preliminary, unaudited and subject to final adjustment. Numbers above do not include any digital or FIAT currency fluctuations.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103417

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Bybit Expands bbSOL Yield Opportunities Through Strategic DeFi Partnerships

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Blockchain

This Week in Finance News: 11 Stories You Need to See

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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

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Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

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Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

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