Financial News
Bitbuy to Provide Access to Stock Trading
WonderFi Technologies Inc (TSX:WNDR) (OTC:WONDF), a technology company that gives individuals access to financial services through DeFi, has a mission to make the DeFi world more accessible and improve the user experience.
On September 29, Bitbuy Technologies Inc., a subsidiary of WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF), announced its collaboration with a leading Canadian investment bank and IIROC member and Alpaca Securities LLC. As a result, Bitbuy will be able to provide fractional trading and investing in hundreds of U.S. stocks, exchange-listed securities, and ETFs within the current Bitbuy product.
Customers of Bitbuy will be able to trade fractions in real-time and have their trades settled immediately away, thanks to Alpaca’s Broker API. In collaboration with FINRA and IIROC members Alpaca and a leading Canadian investment bank and IIROC member, Bitbuy will provide stock trading services. This leading Canadian investment bank and IIROC member will route, execute, clear, and hold all customer accounts and trades in custody. The product is anticipated to launch in the first quarter of 2023, and the precise date will be disclosed in advance.
WonderFi (TSX:WNDR) (OTC:WONDF) CEO Ben Samaroo commented: “Providing seamless access to stock trading makes Bitbuy the first in Canada to offer a full suite of crypto trading as well as fractional trading of equities with real-time settlement. This is in furtherance of our goal of making user’s lives easier and bringing key asset classes within our easy to use, regulated platforms.”
Kevin O’Leary, a strategic investor in WonderFi (TSX:WNDR) (OTC:WONDF), said that stock trading through Bitbuy promises to be highly efficient, low cost and innovative in the Canadian market.
WonderFi to Acquire Blockchain Foundry
On September 1, WonderFi Technologies (TSX:WNDR) (OTC:WONDF) disclosed that it had signed a contract to acquire Blockchain Foundry (BCF), one of the leading blockchain development firms in North America.
For the fifteen months that concluded on March 31, 2022, BCF reported revenue of around $1.67 million. In addition, as of June 30, 2022, it reported owning a portfolio of private emerging crypto investments worth $500,000 and cash and liquid digital assets totaling around $7.24 million.
As a platform for minting non-fungible tokens (NFTs) and a marketplace for collectors’ and artists’ one-of-a-kind NFT drops, BCF introduced LastKnown in January 2022. Currently, BCF offers three collections from different award-winning artists on the marketplace.
A beta version of BCF’s learn-to-earn Metacademy, a program that teaches users how to mint, buy, and sell NFTs and discern between Web2 and Web3, was made available in May 2022. It is a learn-to-earn learning resource.
Coinberry, the first pure-play legal cryptocurrency broker in Canada and one of the country’s top platforms for trading crypto assets, was also bought by WonderFi Technologies earlier this summer. Coinberry is registered with the Canadian Securities Administrators (CSA). The acquisition of Coinberry strengthens WonderFi‘s (TSX:WNDR) (OTC:WONDF) position as a pioneer in the Canadian cryptocurrency market and, along with our earlier purchases of BCF and Bitbuy, lays a strong groundwork for the company’s international expansion.
For more information on WonderFi Technologies (TSX:WNDR) (OTC:WONDF), please visit this link.
SOURCE WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF)
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