Coinsquare, WonderFi in talks to form largest crypto exchange in Canada: BNN Bloomberg
Two of Canada's largest exchanges, Coinsquare and WonderFi, are in advanced merger talks, BNN Bloomberg reported, citing sources. If the deal goes through, the merged company would become the biggest crypto exchange in Canada with about 1.15 million users.
Coinsquare had been planning to acquire crypto trading platform CoinSmart but shelved the plans this month. One source with knowledge of the discussions with WonderFi told BNN Bloomberg that Coinsquare's regulatory status with Canada's Investment Industry Regulatory Organization could help it play a role in consolidating distressed crypto firms in the country. one possibility would see Coinsquare shareholders take a majority stake in the merged business.
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