CoinSmart
AcquiredRaised Since FeaturedSmart crypto trading for Canadians
Regulated Canadian crypto asset trading platform with 24/7 human support and institutional OTC desk.
About
CoinSmart was a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way to buy and sell digital assets like Bitcoin and Ethereum. One of the few crypto platforms in Canada registered as both a securities dealer and marketplace with the Ontario Securities Commission, CoinSmart differentiated itself through regulatory compliance, 24/7 human customer support, and a robust OTC desk for institutional traders. Founded in 2018 by serial entrepreneur Justin Hartzman, the platform went public on the NEO Exchange (SMRT) in 2021 and grew to serve hundreds of thousands of users. In September 2022, CoinSmart was acquired by Coinsquare for $29M, and in July 2023, both companies merged with WonderFi Technologies to create Canada's largest regulated crypto asset trading platform with 1.65 million registered users and over $17 billion in historical transaction volume.
DailyDropout Take
CoinSmart stood out as the rare Canadian crypto exchange that actually prioritized regulatory compliance from day one — getting OSC-registered before most competitors even considered it. While the broader crypto market was still the Wild West, CoinSmart bet that trust and 24/7 human support would win over Canadian traders. The subsequent acquisition by Coinsquare and merger into WonderFi validated the platform's value.
Discovery signal: Early mover on Canadian crypto regulation, OSC registration, NEO Exchange listing, strong growth in retail and OTC volumes
What Makes Them Unique
CoinSmart was one of the first Canadian crypto exchanges to achieve full regulatory registration with the Ontario Securities Commission as both a restricted dealer and marketplace, combined with 24/7 human customer support — a rarity in the crypto space.
1.65M+
Registered Users (combined)
$17B+
Historical Transaction Volume
$600M+
Assets Under Custody
$9.2M
TTM Revenue (March 2023)
$29M (by Coinsquare)
Acquisition Price
Target Markets
Founders
Justin Hartzman
Co-Founder & CEO
Serial entrepreneur who founded the first website brokerage exclusively serving online businesses, pioneering the industry and achieving over $100M in transactions to Fortune 1000 companies, PE firms, and venture funds. Now VP Product at WonderFi.
Michael Koral
Co-Founder & COO
Experienced operator and co-founder responsible for CoinSmart's operations and business development.
Jeremy Koven
Co-Founder & CRO
Chief Revenue Officer at CoinSmart, leading growth and revenue strategy for the platform.
Funding History
Lead: Undisclosed
Lead: N/A