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WonderFi Technologies Inc. and Eightcap Announce Letter of Intent to Offer Multi-Asset Trading for Bitbuy and Coinsquare
Through Eightcap, Bitbuy and Coinsquare intend to expand their offering by giving users access to...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Technologies Inc. and Eightcap Announce Letter of Intent to Offer Multi-Asset Trading for Bitbuy and CoinsquareThrough Eightcap, Bitbuy and Coinsquare intend to expand their offering by giving users access to popular financial markets - including Equities, Indices, Commodities, and FXThe offering is subject to entering into definitive agreements and regulatory approvals in both Canada and Australia, with an expected go live date in H2 2025.Toronto, Ontario--(Newsfile Corp. - March 5, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\"), a global leader in centralized and decentralized financial services and products, announced today that it has entered into a non-binding Letter of Intent (\"LOI\") to form a new partnership with Eightcap and Embedded, its market-leading Trading-as-a-Service (\"TaaS\") solution. This collaboration aims to give users on WonderFi's wholly owned crypto trading platforms, Bitbuy and Coinsquare, access to derivatives across a wide range of popular financial markets, including foreign exchange, major indices, oil, metals, and a curated selection of individual stocks.These products will be offered as contracts for difference (\"CFDs\"), which are regulated over-the-counter derivatives that allow users to speculate on asset price movements without owning the underlying assets, offering flexibility to profit in both rising and falling markets. Eightcap will act as the trading technology and liquidity provider for Bitbuy and Coinsquare, enabling these offerings in Canada and for Bitbuy APAC in Australia.The partnership leverages Embedded, a TaaS solution powered by Eightcap that will bring seamless multi-asset trading to Bitbuy and Coinsquare's growing userbase, to enable the offering of CFDs in both Canada and Australia. With a focus on speed and efficiency, the integration of Eightcap's Embedded technology is designed to be fast to market and straightforward, ensuring a smooth trader experience. It is proposed that Eightcap will also manage liquidity and settlement, ensuring a seamless interaction with these new markets for Bitbuy and Coinsquare users.Dean Skurka, CEO of WonderFi, expressed his enthusiasm for the partnership: \"We're incredibly excited to partner with Eightcap with a view to offering multi-asset trading to our 1.7 million r...