Blockchain
CoinSmart Announces Q3 2021 Financial Results
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.
For further information please contact:
Justin Hartzman
Chief Executive Officer
E-mail: [email protected]
Tel.: (647) 923-7678
- 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
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
-
Blockchain5 days agoBridging Innovation and Regulation: How Yellow Network is Transforming Non-Custodial Trading in a Pro-Crypto Future
-
Blockchain6 days ago
Prosper Adds 7,000 More ASIC Miners from BITMAIN To Drive Tokenization of Hashrate as Multichain RWA ; Targets 170MW Capacity With New Strategic Round
-
Blockchain Press Releases5 days agoHTX Ventures Identifies Five Rapidly-Growing Sectors in 2024, Expects Positive Crypto Regulations Driven by Trump Next Year
-
Blockchain6 days ago
Blocks & Headlines: Today in Blockchain (Reserve Bank of India (RBI), Aethir, Blockchain Center Abu Dhabi, Qubetics, )
-
Blockchain3 days ago
50,000+ Mined Coins and 100,000 New Users: EMCD Summarizes 2024
-
Blockchain6 days agoLoan Brokers Market Opportunities and Strategies Report to 2033 – Loan Brokers Market Poised for Strong Growth, Forecasted to Reach $947.9 Billion by 2033
-
Blockchain4 days agoBuilding Bridges in Crypto: Bybit Sparked Dialogues and Joined Industry Leaders at Bitcoin MENA
-
Blockchain3 days ago
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
