Fintech
CoinSmart Announces Public Listing on NEO Exchange; Trading Begins Today Under Symbol “SMRT”
Toronto, Ontario–(Newsfile Corp. – November 2, 2021) – CoinSmart Financial Inc. (NEO: SMRT) (“CoinSmart” or the “Company”) the online crypto asset trading platform that makes the buying, selling, and holding of crypto assets accessible and safe for all Canadians, is pleased to announce that the Company’s common shares (the “Common Shares”) will commence trading today on the Neo Exchange Inc. (the “NEO Exchange”), under the ticker symbol “SMRT“.
Today’s listing on the NEO Exchange follows the Ontario Securities Commission registration of its wholly-owned operating subsidiary Simply Digital Technologies Inc. as a restricted dealer under securities laws across Canada.
CoinSmart is now one of only a handful of Canadian-based crypto asset trading platforms to be fully-regulated and publicly traded. Founded in 2018, CoinSmart has provided the most accessible platform to buy and sell crypto assets in Canada, offering a selection of the most popular cryptocurrencies through an intuitive, easy to use platform that offers trading features for both novice and experienced traders. With a global presence in over 40 countries, CoinSmart also includes a simple fiat on-ramp, powerful security, and 24/7 online client support.
“This is an exciting day for CoinSmart and for the broader digital asset industry in Canada,” said Justin Hartzman, Chief Executive Officer of CoinSmart. “We have been on a mission to provide Canadians with the easiest, accessible platform to buy and sell digital assets in Canada and have been ecstatic at the 99% satisfaction rate from our over 120,000 users(1). Our listing is a pivotal moment for CoinSmart as we look to further accelerate our growth in Canada’s digital asset market and continue to expand our operations into new jurisdictions in the future. CoinSmart will continue its regulatory-first approach as we continue to work hand-in-hand with our regulatory partners around the world.”
CoinSmart has demonstrated robust growth with a user base of 121,859 clients and year-to-date revenues of C$7.3M already doubling 2020 total revenue of C$3.6M. With unit economics reported at 8:1, CoinSmart is poised to continue demonstrating strong growth as a leading crypto asset trading platform(1).
Investors can trade shares of SMRT through their usual investment channels including discount brokerage platforms and full-service dealers.
RSU Issuances
CoinSmart is pleased to announce the issuance of 615,000 restricted share units (“RSUs“) to employees, directors and consultants pursuant to CoinSmart’s omnibus long term incentive plan (the “Incentive Plan“). The RSUs are subject to various vesting schedules from the date of issuance and shall grant the holder the ability to acquire one Common Share of CoinSmart underlying each such RSU by delivering a notice of acquisition to CoinSmart in accordance with the Incentive Plan. In accordance with the Incentive Plan, the RSUs were priced at C$1.00 based on the opening price of the Common Shares on the NEO Exchange on November 2, 2021.
Integral Wealth Securities Limited
CoinSmart also announces that it has retained Integral Wealth Securities Limited (“Integral“) to provide market making services in accordance with the policies of the NEO Exchange, for the purposes of maintaining an orderly market and improving the liquidity of the Company’s Common Shares traded on the NEO Exchange.
In consideration of the services provided by Integral, CoinSmart will pay Integral a monthly cash fee of C$7,500, plus any reasonable costs and expenses it incurs in connection with the services provided. CoinSmart has retained Integral for no less than a three-month term. Integral will not receive any securities of CoinSmart as compensation pursuant to the agreement. CoinSmart and Integral are unrelated and unaffiliated entities. Integral does not currently own any securities of CoinSmart. However, Integral and its clients may acquire a direct interest in the securities of the Company.
Early Warning Report Disclosure
In connection with a three-cornered amalgamation completed on October 27, 2021 amongst CoinSmart (formerly, Mesa Exploration Corp. (“Mesa“)), Simply Digital Technologies Inc. and 12553562 Canada Inc. (the “Transaction“), Justin Hartzman, the President, Chief Executive Officer and Director of CoinSmart, has acquired ownership and control over 8,920,241 Common Shares and 316,664 options of CoinSmart pursuant to the Transaction. Prior to the completion of the Transaction, Mr. Hartzman did not hold any securities in the capital of Mesa. Mr. Hartzman holds approximately 15.3% of the outstanding Common Shares of CoinSmart on a non-diluted basis and 14.3% of the outstanding Common Shares of CoinSmart on a fully diluted and converted basis.
Jeremy Koven, the Chief Operating Officer, Secretary and Director of CoinSmart, has acquired ownership and control over 8,920,241 Common Shares and 316,664 options of CoinSmart pursuant to the Transaction. Prior to the completion of the Transaction, Mr. Koven did not hold any securities in the capital of Mesa. In the aggregate, Mr. Koven holds approximately 15.3% of the outstanding Common Shares of CoinSmart on a non-diluted basis and 14.3% of the outstanding Common Shares of CoinSmart on a fully diluted and converted basis.
Michael Koral, the Chief Business Officer of CoinSmart, has acquired ownership and control over 8,920,241 Common Shares and 316,664 options of CoinSmart pursuant to the Transaction. Prior to the completion of the Transaction, Mr. Koral did not hold any securities in the capital of Mesa. In the aggregate, Mr. Koral holds approximately 15.3% of the outstanding Common Shares of CoinSmart on a non-diluted basis and 14.3% of the outstanding Common Shares of CoinSmart on a fully diluted and converted basis.
The securities of CoinSmart were acquired by Justin Hartzman, Jeremy Koven and Michael Koral (the “Acquirors“) for investment purposes. The Acquirors will evaluate their respective investments in CoinSmart from time to time and may, depending on various factors including, without limitation, CoinSmart’s financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, CoinSmart’s business or financial condition, and other factors and conditions deemed appropriate by the respective Acquirors, increase, decrease or change their respective beneficial ownership over the Common Shares or other securities of CoinSmart in the future, but have no current plans to do so.
Pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and applicable Canadian securities legislation, Early warning reports will be filed by Justin Hartzman, Jeremy Koven and Michael Koral. Copies of the early warning reports will be available under CoinSmart’s SEDAR profile at www.sedar.com and available on request from Justin Hartzman c/o CoinSmart Financial Inc., 1055 West Hastings Street, Suite 1700, The Guinness Tower, Vancouver, British Columbia V6E 2E9.
About CoinSmart Financial Inc.
CoinSmart is a leading Canadian-headquartered digital asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets, like Bitcoin and Ethereum, combined with the seamless ability to on-ramp and off-ramp fiat. Clients’ security and protection is CoinSmart’s primary focus. CoinSmart is registered as a money services business with the Financial Transactions and Reports Analysis Centre (FINTRAC) in Canada and in multiple jurisdictions.
CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources tailored to every level of cryptocurrency customer and unparalleled 24/7 omni-channel customer success/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
Cautionary Note Regarding Forward-Looking Information and Other Disclosures
This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including with respect to: the receipt of the Exchange’s final approval and the issuance of the listing bulletin. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: regulatory approvals. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
All information contained in this press release with respect to the corporate entities referenced herein was supplied, for inclusion herein, by the respective parties and each party and its directors and officers have relied on the other party for any information concerning the other party.
The NEO Exchange is not responsible for the adequacy or accuracy of this press release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Investor Enquiries
Jeremy Koven, Chief Operating Officer and Director
[email protected]
Media Contact
Michele McDermott-Fox or David Lewis
The Top Floor Public Relations
[email protected] or [email protected]
Not for distribution to United States newswire services or for dissemination in the United States.
(1) As of June 30, 2021
Fintech
Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Fintech
SPAYZ.io prepares for iFX EXPO Dubai 2025
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Fintech
Airtm Enhances Its Board of Directors with Two Strategic Appointments
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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