WonderFi Technologies has announced the launch of an innovation and development arm.
The newly established WonderFi Labs possesses a focus on building future applications for decentralized technologies to expand the company’s offerings beyond its trading platforms.
“It’s clear the future of crypto involves on-chain solutions,” comments chief executive officer Dean Skurka, “and this will allow WonderFi to remain at the forefront of the industry.”
Reflecting this aim, initial products to include WonderFi L2, a Layer 2 blockchain built on Ethereum, and WonderFi Wallet, an EVM-compatible non-custodial wallet.
“The introduction of WonderFi Labs will enable the development of a number of innovative on-chain global products that will complement our existing offerings,” Skurka stated.
WonderFi Labs will be headed by WonderFi’s vice president of engineering, Kartik Bajaj. His dedicated team will develop, incubate, and invest in on-chain applications that drive client engagement through the company’s various channels.
“Innovation and creativity are the lifeblood of the digital asset industry,” added Cong Ly, who serves WonderFi as chief of technology. “The creation of WonderFi Labs allows us to continue our culture of experimentation and further advances our technological capabilities.”
Skurka also alluded to an “international expansion plan” that will build off his company’s “strong balance sheet.”
“We’re prioritizing our investment in innovation and growth,” he said, “and focusing on centralized and decentralized applications that can reach a global audience.”
With $1.5B in assets under custody, WonderFi is the largest regulated crypto trading platform in Canada. The Vancouver-born web3 firm operates an array of trading platforms and other digital asset businesses, including Bitbuy, Coinsquare and Coinsmart, and Bitvo.
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