Cryptocurrency-related firms WonderFi Technologies ( OTCQB:WONDF ) ( TSX: WNDR:CA ), Coinsquare and CoinSmart Financial ( OTCPK:CONMF ) all have merged their respective businesses to provide Canadian users various crypto-focused solutions , the companies said Monday. The combined company, which have over more than $600M in assets under custody and a registered user base exceeding 1.65M, will offer both retail and institutional crypto trading, staking products, B2B crypto payment processing and will also soon include sports betting and gaming. The transaction is expected to close after the shareholder meetings at each party in Q2. "With this combination, we have the scale to be the market leader in Canada, a strong balance sheet that will allow for expansion, and a clear path to profitability," said WonderFi President and CEO Dean Skurka. Mogo ( NASDAQ: MOGO ), a Canadian-based digital finance company, is expected to be the largest shareholder of the combined company with about 14% ownership, it said. Upon completion of the deal, WonderFi ( OTCQB:WONDF ) shareholders will own approximately 38% of the combined company, Coinsquare shareholders will own ~43% of the Combined Company, and CoinSmart shareholders will own ~19%, on a partially diluted basis. WONDF spiked 30% , CONMF surged 88.8% and MOGO slipped 1.1% . Bear in mind that all three tickers are worth less than $1 per share. The news comes on the heels of WonderFi posting its full-year results .
