Business
WonderFi's Bitbuy Announces Acquisition of Bitstamp's Canadian Clients
WonderFi grows its total retail and institutional client accounts to over 1.75 million Canadians ...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi's Bitbuy Announces Acquisition of Bitstamp's Canadian ClientsWonderFi grows its total retail and institutional client accounts to over 1.75 million CanadiansToronto, Ontario--(Newsfile Corp. - April 26, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the \"Company\" or \"WonderFi\"), Canada's leading operator of regulated crypto trading platforms and other digital asset businesses, today announced that its wholly owned subsidiary Bitbuy Technologies Inc. (\"Bitbuy\") has purchased the Canadian clients of Bitstamp (\"Bitstamp\"). Bitstamp is the world's longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. All financial references are in Canadian dollars unless otherwise noted.Bitbuy has acquired the 110,000+ Canadian client accounts of Bitstamp. The transaction was completed by way of a business transfer agreement. Key Details and Other Information Include: Bitbuy has acquired Bitstamp's Canadian client accounts, comprising of both retail and institutional client accounts.WonderFi anticipates nominal incremental operating costs to service the client accounts on a go-forward basis.Bitbuy will share a portion of the revenues from the acquired business.\"We are excited to welcome Bitstamp's Canadian clients to the WonderFi ecosystem,\" said WonderFi President and Chief Executive Officer, Dean Skurka. \"The non-dilutive acquisition of Bitstamp's Canadian clients, following the announcement of our expansion into Australia, is consistent with WonderFi's disciplined approach of pursuing growth opportunities on its platforms,\" added Mr. Skurka.ABOUT WONDERFIWonderFi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms with strongholds in the Canadian market; WonderFi operates Internationally through its expansion in Australia, as well as through Smartpay, its global crypto payments platform.With a collective user base of over 1.75 Million registered Canadians and a combined assets under custody exceeding $1.5 Billion, WonderFi serves one of the largest crypto investor communities in Canada.For more information, visit www.wonder.fi.Additional Information For additional information, please contact: Media / Investor RelationsCharlie [email protected] Information and Statements This press release contains...