WonderFi’s Latest Acquisition Cements Company as Canada’s Crypto Leader

WonderFi Technologies Inc. | Listed on: TSX:WNDR | OTC:WONDF

The world of cryptocurrency can sometimes be viewed a bit like the Wild West. Many investors deliberately steer away from getting involved in crypto and digital assets due to fears about the volatile nature of this new frontier of finance.

But, for savvy investors who are willing to dip their toes in the crypto pool, rich rewards can be found. Regulation is becoming more prevalent as countries around the world begin to accept the fact that crypto is here to stay. At the forefront of this push is Canada, with many nations viewing them as the perfect blueprint for their own drive for regulation.

As a result, companies who are already well-versed in Canada’s regulatory infrastructure are at an advantage. And, if that company has also developed a platform that allows experienced and inexperienced crypto users alike to effortlessly navigate this space then even better.

This is where WonderFi Technologies (OTC: WONDF, NEO: WNDR, FTX: WNDR) comes in – a company that ticks all those boxes and much, much more. For example, many crypto users are forced to maintain multiple accounts across various different exchanges, wallets and other platforms. WonderFi, however, aims to cut through the clutter by offering users the ability to enjoy crypto investing and all that Web 3.0 has to offer through a single account.

It's this easy-to-use, unified and compliant product that has marked WonderFi out as a leader amongst crypto companies in Canada. But, far from sitting back and enjoying the fruits of their labor, WonderFi aren’t done yet as they announced another acquisition that further cements their place at the forefront of the crypto world.

On 18 April they announced they had entered into a definitive agreement to acquire Coinberry Limited – one of Canada’s leading crypto asset trading platforms and the country’s first pure-play licensed crypto broker. This news comes only a few weeks after the closing of their acquisition of Bitbuy, Canada’s first licensed crypto marketplace. 

WonderFi CEO, Ben Samaroo, said:

This acquisition further establishes a great framework for our expansion into global markets in 2022 [and] as we continue our consolidation of leading licensed crypto platforms, our user count, revenue and pool of talent continues to grow. 

The acquisition of these two important companies demonstrates WonderFi’s determination to continue to lead the way, both in Canada and around the world. But they also open up some really exciting new revenue streams for the company. For example, the Coinberry purchase adds over 220,000 users to the WonderFi ecosystem and over $100 million of assets under custody as at December 31, 2021.

It also presents numerous operational efficiency opportunities across the three platforms via user base integration, cross selling services and a combined global offering. The addition of over 50 staff, including engineers and other key departments also opens up many product development opportunities – allowing WonderFi to maintain their place at the head of the table.

If you're looking for further confirmation of how good an opportunity this is, just look at the incredible star power already on board this exciting venture. Shark Tank's own Kevin O'Leary - one of the world's richest men - is a strategic investor in WonderFi, as is entrepreneur Sam Bankman-Fried.

Put all this together and you can see how WonderFi becomes an attractive proposition to savvy investors. Simply put, WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. And if these acquisitions are anything to go by, they are just getting started.

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