Thursday, May 6, 2021
Times of Georgia
HomeWorldCoinSmart Closes CAD$4.5 Million Seed Funding; Plans To Expand Into Europe

CoinSmart Closes CAD$4.5 Million Seed Funding; Plans To Expand Into Europe


ONTARIO, CA, Mar 5, 2021 – (ACN Newswire) – Canada-based
cryptocurrency exchange CoinSmart has announced the closing
of a CAD$4.5 million (roughly US$3.5 million) seed funding
round and extensive plans to expand into
Europe.

CoinSmart, owned by Simply Digital
Technologies, told CoinDesk in a statement Monday the
investment was raised earlier this year through the issuance
of interest-bearing convertible debentures, a type of debt
instrument. Investors in the round were not
disclosed.

The funding will be used to expand
CoinSmart’s platform into European markets and support
operational changes. It will also help Simply Digital
Technologies prepare for a planned reverse takeover ahead of
a hoped-for public listing on the TSX Venture Exchange, said
the firm.

Enabling its European expansion, CoinSmart
said it has obtained a Financial Intelligence Unit license
issued in Estonia. “CoinSmart’s fundamental mission is to
make cryptocurrency accessible for people of all experience
levels,” said CoinSmart CEO Justin Hartzman. “We’re excited
about the ways in which crypto can help streamline payments
within Europe’s financial system and subsequently better
serve and protect our customers.”

Coinsmart (

bit.ly/38b7IkQ

):
Justin Hartzman CEO (

https://www.coinsmart.com

)

Source:
Plato Data Intelligence
(Zephyrnet.com)

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