WonderFi Technologies (NEO:WNDR) (OTC:WONDF) is a technology company backed by Kevin O’ Leary that provides us with an easy gateway to DeFi. On January 4th, WonderFi announced that it had entered into a definitive agreement to acquire the parent company of BitBuy (First Ledger Corp.).
“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.”
As mentioned, BitBuy became the first crypto platform that was regulated as a marketplace in Canada, thereby establishing WonderFi as a leading consumer platform for people who are interested in accessing regulated cryptocurrency and decentralized finance (DeFi).
Kevin O’Leary, a globally-renowned investor and one of WonderFi biggest backers, said:
“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.”
In addition, WonderFi just announced that it has closed its previously announced upsized bought deal public offering led by Canaccord for a total of $45 million pursuant to the bought deal at a price of $2.40 per unit. The company intends to use the net proceeds to partially fund the purchase of the previously announced acquisition of First Ledger and to fund future growth initiatives including global expansion of the WonderFi and Bitbuy brands.
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Source: Cryptocurrency - investing.com
