Canadian-based companies WonderFi Technologies Inc., Coinsquare Ltd., and CoinSmart Financial Inc. have announced their merger to create Canada's largest regulated crypto asset trading platform with over 1.65 million registered users. 

The newly merged company will offer Canadians a wide range of diversified products and services, including retail and institutional crypto trading, staking products, business-to-business crypto payment processing, sports betting, and gaming. The newly-merged company "will have transacted over $17 billion since 2017 and have over $600 million in assets under custody," the announcement said.

The combined company plans to diversify its revenue potential by expanding its product offerings, which are expected to appeal to a wider range of customers. Upon completion of the merger, the combined company is anticipated to possess roughly $50 million or more in cash and investments and will have no outstanding debt.

(by Judith BannermanQuist)