TORONTO, April 1, 2022 /CNW/ – CoinSmart Financial Inc. (“CoinSmart” or “CFI”) (NEO: SMRT) (FSE: IIR), a Canadian-headquartered crypto asset trading platform, announces the release of its financial statements audited consolidated financial statements for the year ended December 31, 2021 and related management report (“MD&A”) and annual information form. These documents will be posted on CoinSmart’s website at www.coinsmart.com/invest and SEDAR at www.sedar.com.
Highlights of CoinSmart in 2021:
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2021 gross revenue reached $16.7 million, growing 357% year-over-year
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Company cash reached around 22MM, up 406% YoY
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Registered users reached over 183,000, growing 612% annually
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Retail transaction volume increased 875% YoY
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Assets under management (AUM) reached a record $74 million
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Adjusted EBITDA1 of approximately $2.1 million growing 216% year-over-year
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No debt
Other 2021 CoinSmart Business Highlights
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1 of only 2 crypto asset platforms to be granted market status by the Ontario Securities Commission and all other securities regulators across Canada.
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The only crypto asset trading platform to not only be publicly listed in Canada and Europe but also to have its marketplace registrations
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1 of 5 crypto asset platforms approved as a broker-restricted by the Ontario Securities Commission and all other securities regulators across Canada.
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Expanded its retail and OTC business to other European countries.
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Launch of new iOS and Android mobile applications.
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In February, issued $4.5 million convertible debentures (which were converted into common shares on October 27, 2021
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Listing on the NEO Exchange completed, including concurrent funding of Subscription Receipts for aggregate gross proceeds of $12,642,900.
CoinSmart CEO justin hartzman commented :
“2021 has been a very exciting year for CoinSmart. Even though we were navigating a new “normal” and COVID continued to play a big role in our daily lives, we saw increased demand for crypto and its adoption around the world. Rather than stepping back and waiting for things to fall into place naturally, we embraced head-first innovation We quadrupled business and strengthened our balance sheet We received our restricted dealer and market listings and entered the public markets while remaining profitable. This is a testament to the amazing team I’ve built at CoinSmart, and I look forward to sharing our progress with you in the months to come. I’m extremely proud of what we achieved in 2021 and you will see a lot more coming from us in 2022. Let the trend be your friend!”
About CoinSmart Financial Inc.
CoinSmart is a Canada-based crypto asset trading platform dedicated to providing customers with an intuitive way to buy and sell digital assets, like Bitcoin and Ethereum. CoinSmart is one of the few crypto asset trading platforms in Canada be registered as a broker and dealer with the Ontario Securities Commission. CoinSmart is also one of the first trading platforms headquartered in Canada to have an international presence, accepting customers in over 40 countries at a time when the digital asset industry continues to develop rapidly.
CoinSmart further builds on its mission to make cryptocurrency accessible by providing educational resources suitable for every level of cryptocurrency knowledge and unparalleled 24/7 omnichannel customer support. Offering instant verification, industry-leading cold wallet storage, advanced charting with order book functionality, and premium over-the-counter services, Coi3nSmart ensures that every customer’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
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1 Adjusted EBITDA includes net income before tax, interest, amortization, RTO listing fees (one-time expense) and |
SOURCECoinSmart
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