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Canadian financial institutions are increasingly taking an interest in crypto as regulatory clarity emerges in the country, according to WonderFi CEO Dean Skurka, who met up with Cryptox at the Blockchain Futurist Conference in Toronto.Skurka claimed that his exchange had seen an uptick in trading by institutions as opposed to
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Canadian-based companies WonderFi Technologies Inc., Coinsquare Ltd., and CoinSmart Financial Inc. have announced their merger to create Canada's largest regulated crypto asset trading platform with over 1.65 million registered users. The newly merged company will offer Canadians a wide range of diversified products and services, including retail and institutional crypto trading,
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Today, both WonderFi and Coinsquare are big players in the Canadian crypto industry.A Bloomberg report suggesting that WonderFi is in talks with Coinsquare over a potential merger has emerged. In that report, Bloomberg noted that the merger talks were advanced and an official announcement could follow in a few days.
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Crypto exchange WonderFi, which is backed by crypto investor and billionaire Kevin O’Leary, has confirmed it is in preliminary discussions with fellow Canadian crypto exchange Coinsquare for a possible merger.In a statement on Jan. 12, WonderFi responded to a Bloomberg report suggesting the two exchanges were in "advanced merger talks"
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The combination would create the country’s largest cryptocurrency exchange. Source
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"Providing seamless access to stock trading makes Bitbuy the first in Canada to offer a full suite of crypto trading as well as fractional trading of equities with real-time settlement,” WonderFi CEO Ben Samaroo said. “This is in furtherance of our goal of making users' lives easier and bringing key
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"Pursuing both a NASDAQ listing and registration of the Shares in the United States enables the Company to accelerate its previously announced international expansion strategy to enhance shareholder value, while attracting institutional and retail investors globally," WonderFi said. Original Source
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In addition, WonderFi said it may purchase other crypto companies as the shakeout in the sector continues. CEO Ben Samaroo told CoinDesk he thinks other nonregulated crypto trading platforms might have similar issues as Voyager Digital, which had exposure to troubled hedge fund Three Arrows Capital and has had to
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WonderFi Technologies, a decentralized finance (DeFi) platform, plans to continue its expansion in Canada by purchasing the Coinberry crypto exchange for $38 million. The platform will be the second regulated crypto exchange under WonderFi once the acquisition is finalized. The firm recently closed its acquisition of Bitbuy's parent company First Ledger
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“It’s really another stream to acquire users,” Samaroo said of the Sun Machine deal, noting its potential to reach users that aren’t focused on crypto trading. In turn, those gamers can earn NFTs and claim them through WonderFi’s combined platforms. Original Source
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