Canadian crypto exchanges reach $1B in assets under management

Bitbuy and Coinsquare, two of the largest crypto exchanges domiciled in Canada, have surpassed $1 billion CAD in assets ($736 million) under management.

According to the Dec. 6 announcement by parent company WonderFi, the two entities currently hold $1 billion CAD in clients’ cash and digital asset deposits, up from $695 million ($512 million) the third quarter. 

“During the month of November, the platforms experienced a combined 16% increase in monthly active users as compared to the monthly active user count in October. The platforms also recorded a 54% increase in total trading volume,” the company wrote.

In July 2023, Bitbuy and Coinsquare merged with the decentralized finance (DeFi)…

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