CoinSmart has successfully registered its subsidiary Simply Digital Technologies Inc. as a restricted dealer under securities laws across Canada in a move to strengthen its position as an online crypto asset trading platform in the jurisdiction.
The cryptocurrency exchange allows users to buy, sell, and hold crypto assets at a specific moment in time when digital assets are growing in popularity across the world for both investors and consumers.
With this move, CoinSmart became one of only a few crypto asset trading platforms in Canada to be registered as a securities dealer.
The digital asset trading platform is headquartered in Canada and one of a few that have a global presence. In this case, the company accepts customers across more than 40 countries.
CoinSmart plans to roll out several initiatives over the coming months including a public listing on a regulated Canadian exchange, the addition of new crypto assets, the launch of a mobile app for iOS and Android devices, extending operations to multiple exciting jurisdictions, and a public listing on a European exchange.
Justin Hartzman, Chief Executive Officer at CoinSmart, commented: “CoinSmart is delighted to have received approval from the Ontario Securities Commission and securities regulators across Canada for CoinSmart to become registered as a restricted dealer.
“Today’s announcement is an important step in CoinSmart’s journey to be the largest crypto trading platform in Canada. With the digital asset industry growing at such rapid rates, this registration allows CoinSmart to continue expanding our operations in Canada and offering Canadians the best trading platform service in the country. As one of the first crypto companies in Canada to be registered under securities laws, CoinSmart is now strongly positioned to continue to grow alongside the broader industry..”
CoinSmart utilizes some of most trusted custody providers in the world to keep investors’ holdings safe and secure. Bitgo and Fireblocks are the custodial partners that also ensure cold storage, verifications, and 2FA.
The cryptocurrency exchange is registered in multiple jurisdictions. Besides being registered as a restricted dealer with OSC in Canada, the firm is also authorized by Canada’s FINTRAC, the United States of America’s FINCEN, and Estonia’s Digital Assets & Wallet Provider License.