Fresh after its announcement to acquire First Ledger Corporation, the parent of Bitbuy, the first approved crypto marketplace in Canada, WonderFi Technologies Inc (NEO: WNDR), which is backed by famous investor Kevin O’Leary, said it is acquiring Coinberry for $32.2 million.
This acquisition of one of Canada’s largest crypto-trading platforms positions WonderFi as one of the world’s leading consolidators of licensed crypto exchanges.
That’s according to CEO Ben Samaroo, who spoke with Benzinga ahead of the announcement.
See below for more on WonderFi’s go-forward action plan.
Market Leader: WonderFi is mending the inequalities of current finance ecosystems.
It’s doing so through decentralized finance or DeFi, the technology that allows market participants to lend, borrow and swap smart contracts.
Unlike centralized finance (CeFi), in DeFi there are no intermediaries that tax the system. Participants on WonderFi’s platform earn yields or trading revenue for posting liquidity.
Further, WonderFi’s demonstrated its first step in merging the worlds of CeFi and DeFi through its acquisition of Bitbuy, earlier this year.
In also acquiring Coinberry, WonderFi is positioning itself as one of the largest crypto ecosystems and leading consolidators in the space seeking to pass along cost efficiencies to users and accelerate crypto innovation, broadly.
In total, WonderFi has over 750,000 registered users.
“That would give us the biggest user base for any crypto company,” Samaroo said on …
