Bitbuy Technologies recently acquired all 110,000 Canadian client accounts from Bitstamp, a cryptocurrency exchange operating since 2011.
The announcement was made by WonderFi Technologies, which wholly owns Bitbuy (as well as Coinsquare).
“We are excited to welcome Bitstamp’s Canadian clients to the WonderFi ecosystem,” stated Dean Skurka, chief executive of WonderFi.
The move further bolsters the web3 war chest of Vancouver-born WonderFi, which is now based in Canada’s crypto capital, Toronto.
“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,” the CEO stated.
With the addition of Bitstamp’s clients, the collective user base of WonderFi’s ecosystem comprises over 1.7 million registered Canadians and combined assets under custody north of $1.5 billion—a sizeable portion of Canada’s crypto community.
Skurka’s vision for WonderFi is one of “combining prominent digital assets businesses into a leader in the digital asset industry.”
The company trades on the Toronto Stock Exchange as WNDR, with shares up more than 100% in the past six months, as the Canadian fintech aims for profitability.
“WonderFi is well positioned to benefit from long-term growth trends in the industry and to build value for shareholders over time,” Greg Feller of Vancouver fintech Mogo—which owns a 13% stake in WonderFi—posited earlier this year, as Canada moves toward becoming “an improving environment for digital assets.”
Leave a Reply