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WonderFi to Acquire Bitbuy, Canada's First Approved Crypto Marketplace with Over $4.4B Transacted
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2022) - WonderFi Technologies Inc. (...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi to Acquire Bitbuy, Canada's First Approved Crypto Marketplace with Over $4.4B TransactedVancouver, British Columbia--(Newsfile Corp. - January 4, 2022) - WonderFi Technologies Inc. (NEO: WNDR) (OTC PINK: WONDF) (WKN: A3C166) (FTX:WNDR) (the \"Company\" or \"WonderFi\") today announced that it has entered into a definitive agreement to acquire First Ledger Corp., the parent company of Bitbuy Technologies Inc. (\"Bitbuy\"), a leading cryptocurrency platform and the first approved crypto marketplace in Canada. The acquisition and integration will establish WonderFi as a leading end-to-end consumer platform for people seeking access to crypto and decentralized finance (\"DeFi\").\"The integration of WonderFi and Bitbuy is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto,\" said Ben Samaroo, CEO of WonderFi. \"A licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy's product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the Company.\"Bitbuy was founded in 2016 and has grown to become one of North America's leading crypto marketplaces. Today, Bitbuy is a trusted execution platform that services over 375,000 users, with more than $4.4 billion transacted through the platform.In November 2021, Bitbuy became Canada's first approved crypto marketplace, and was recently ranked 9th in the Deloitte Technology Fast 50™ program, with 3,379% in revenue growth from 2017 to 2020 making it the highest-ranking crypto asset trading platform amongst the Fast 50 winners. In the twelve months ended September 30, 2021, Bitbuy generated over $31.0 million in revenue.Kevin O'Leary, globally renowned investor, ambassador and strategic advisor to WonderFi commented: \"this is a combination of two management teams with excellent executional skills that now have the bandwidth, assets and licenses to provide an institutional grade compliant crypto platform to investors interested in exposure to centralized and decentralized financial services.\"\"This transaction represents an exciting new chapter for Bitbuy,\" said Dean Skurka, President and CFO of Bitbuy. \"The alig...