CoinSmart’s Daily Active Users Jump 651% YoY in Q3

Canadian-headquartered crypto asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, CoinSmart published its financial results today for the third quarter of 2021 (Q3 2021). During the quarter ended 30 September 2021, revenues reached $3.27 MM, which is 238% higher than the same period last year.

The company saw a substantial increase in the total number of clients in Q3 of 2021. Daily active users spiked 651% YoY. Moreover, CoinSmart’s registered users reached 150,353, an increase of 692% compared to the same period in 2020.

In terms of retail trading volume, the number jumped by 1717% YoY in Q3 of 2021. The total assets under management (AUM) touched $65MM. CoinSmart also highlighted its global expansion in the recent announcement.

"Q3 2021 continued to show growth in the digital asset space with new entrants and improved on-chain metrics. Q3 2021 did bring an industry-wide decrease in global trading volume of 40%, however, CoinSmart's trading volume decreased by only 23%. Q4 2021 has begun with a significant increase in global trading volume with the crypto assets market cap reaching a new all-time high,” Justin Hartzman, CEO of CoinSmart, said.

Product Enhancements

During the quarter ended 30 September 2021, the company expanded its products and services to meet the growing crypto demand. CoinSmart launched its retail trading platform in Europe. Moreover, the firm introduced the Beta version of the new Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term dashboard and monitoring tools.

“CoinSmart is working on a number of product enhancements as well as further geographic expansion. We will provide additional details on these initiatives in a timely manner. With new additions to our team in legal, product and marketing, we are poised for further growth in Q4 2021 and beyond,” Hartzman added.

CoinSmart is one of the few digital assets trading platforms in Canada to be registered as a securities dealer with the Ontario Securities Commission. The company is offering services in various digital currencies, including BTC and ETH to clients in more than 40 countries.