Business
WonderFi Announces Pursuit of New Strategic Verticals Designed to Provide Expanded Product Offerings, and Names Dean Skurka President & Interim CEO
Toronto, Ontario--(Newsfile Corp. - October 25, 2022) - WonderFi Technologies Inc. (TSX: WND...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces Pursuit of New Strategic Verticals Designed to Provide Expanded Product Offerings, and Names Dean Skurka President & Interim CEOToronto, Ontario--(Newsfile Corp. - October 25, 2022) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (FTX: WNDR) (the \"Company\" or \"WonderFi\") announces that Ben Samaroo has resigned as the Chief Executive Officer of the Company effective as of October 24, 2022 and that Dean Skurka, the President of Bitbuy Technologies Inc. (\"Bitbuy\"), a wholly-owned subsidiary of the Company, has been appointed President and Interim Chief Executive Officer. The Board of Directors of the Company (the \"Board of Directors\") thanks Ben for his contributions, and will support Mr. Skurka's transition into his role as President and Interim Chief Executive Officer. Mr. Skurka was instrumental in Bitbuy increasing its registered users from 2,600 in 2018 to over 400,000 in 2021. For its 2021 fiscal year, Bitbuy's annual revenues were $32+ million while facilitating over $4+ billion in trading volume. In response to market trends and user demands, the Company is pleased to announce its focus around three business groups designed to maximize the revenue potential from its approximately 600,000 Canadian customers - digital assets, traditional equities, and staking and yield products, subject to regulatory approval as required.Dean Skurka elaborates on WonderFi's diversified business goals under his leadership as President and Interim Chief Executive Officer, \"The company will be entering two new verticals, while furthering its cryptocurrency product offering. Revenue growth and profitability are WonderFi's top priority and by including these additional strategic verticals to our business we expect to bolster our average revenue per user, while simultaneously developing a comprehensive ecosystem for our users to generate wealth in the most modern of ways.\" \"The key to wealth generation is diversification,\" explains WonderFi strategic investor Kevin O'Leary. \"There is a direct correlation between those who buy and sell crypto, stocks, and seek out other wealth generating products. It makes perfect sense to deliver that to WonderFi's approximately 600,000 customers within one Canadian-operated ecosystem. I invest in management teams who are agile, listen to their customers, and bu...