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
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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.
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