Sources: Canadian crypto exchange Coinsquare is in merger talks with WonderFi

According to BNN Bloomberg citing people familiar with the matter, Canadian encryption exchange Coinsquare and encryption technology company WonderFi Technologies are in advanced merger negotiations to form a Canadian encryption trading giant. WonderFi said in this regard that these discussions are preliminary and ongoing, and there is no guarantee that any agreement will be reached, the terms of the transaction will be agreed, or the transaction will be completed. A source said one scenario would be for Coinsquare shareholders to own a majority stake in the combined business and control more board seats than WonderFi. While talks may be at an advanced stage and an announcement could be made within days, it is uncertain whether the companies will close a deal, the sources said. If the deal goes through, the combined exchange operator would have a user base of about 1.15 million.