Blockchain
CoinSmart Announces 2022 Financial Results
Toronto, Ontario–(Newsfile Corp. – March 28, 2023) – CoinSmart Financial Inc. (NEO: SMRT) (FSE: IIR) (“CoinSmart” or “CFI”), a leading Canadian headquartered crypto asset trading platform, announces the release of its audited consolidated financial statements for the year ended December 31, 2022 and related management discussion and analysis (“MD&A”) and Annual Information Form. These documents will be posted on CoinSmart’s website at www.coinsmart.com/invest and SEDAR at www.sedar.com.
CoinSmart’s 2022 Highlights:
- 2022 Gross Revenue reached $13.3MM a decrease of approximately 20% YoY
- Registered users reached 280,000, growing 53% YoY
- CoinSmart’s SmartPay Division grew by approximately 74% YoY
- Achieved total trading volume across all divisions of over 655MM
- Company Treasury reached approximately 10.2MM
- Company has no long term debt
Other CoinSmart 2021 Corporate Highlights
- Launched public facing API for SmartPay allowing custom integrations with a variety of Merchants.
- Expanded its Retail and Over the Counter Trading to additional European Countries.
- Launched new iOS and Android Mobile Apps.
CoinSmart CEO Justin Hartzman commented :
“Amidst the recent upheavals in the industry, with major players facing a downfall and smaller ones struggling with dwindling trading volumes and revenues, CoinSmart has stood out with its agility and adaptability. By swiftly responding to the changing market conditions and introducing new revenue streams, we have been able to achieve noteworthy results. I am pleased to share that despite the challenges, our QoQ revenue has increased by 20%, a testament to our unwavering commitment to innovation and customer satisfaction. Moving forward, we remain dedicated to expanding our product portfolio, forging strategic partnerships, and maintaining our growth trajectory in the upcoming fiscal year.”
About CoinSmart Financial Inc.
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 and 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.
CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency knowledge and unparalleled 24/7 omni-channel customer support. Offering instant verification, industry leading cold wallet storage, advanced charting with order book functionality and over-the-counter premium services, CoinSmart ensures every client’s needs are met with the highest level of quality and care. For more information please visit https://www.coinsmart.com/.
Connect with CoinSmart: Website | LinkedIn | Twitter | Instagram | Facebook
For further information please contact:
CoinSmart
Justin Hartzman
Chief Executive Officer
Email: [email protected]
Tel.: 1.647.923.7678
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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