- WonderFi Technologies (WNDR) has closed its previously announced acquisition of Coinberry Limited, one of Canada’s leading crypto asset trading platforms
- Payment consisted of an aggregate of 28,925,645 newly issued common shares of WonderFi
- Through the transaction, Coinberry added about 225,000 users and $99.5 million of client assets under custody as at March 31, 2022
- This gives the WonderFi group of companies over half a billion dollars in approximate total client assets under custody
- WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms
- WonderFi Technologies Inc. was up 5.155 per cent, trading at $0.51 at 9:59 AM ET
WonderFi Technologies (WNDR) has closed its previously announced acquisition of Coinberry Limited.
Coinberry Limited is one of Canada’s leading crypto asset trading platforms registered with the Canadian Securities Administrators and Canada’s first pure-play licensed crypto broker.
“This acquisition further solidifies WonderFi as a leader amongst crypto companies in Canada, and along with our acquisition of Bitbuy, establishes a great foundation for our expansion into global markets,” noted Ben Samaroo, CEO of WonderFi.
“Further, as we’ve seen over the past few weeks, the crypto market downturn has had a massive impact on the viability of unregulated crypto trading platforms and WonderFi’s value proposition as one of the few regulated crypto businesses makes us well positioned to continue our growth,” he added.
“Bringing together the Coinberry and Bitbuy teams under the WonderFi umbrella has created one of the largest combined compliant and licensed crypto companies in Canada and we are keen to continue building on our common success as we expand into new markets,” said Andrei Poliakov, CEO and Co-Founder of Coinberry.
In connection with the acquisition, the company will employ Andrei Poliakov in the position of Head of Brokerages of WonderFi, and President of Coinberry.
Through the transaction, Coinberry added about 225,000 users and $99.5 million of client assets under custody as of March 31, 2022. This gives the WonderFi group of companies over half a billion dollars in approximate total client assets under control.
With Coinberry making over 35 crypto assets available for trading on its proprietary platform, the acquisition further expands WonderFi’s ability to offer users secure and regulated access to one of the biggest selections of crypto assets in Canada.
Under the terms of the acquisition, among other things, the company acquired all of the issued and outstanding shares of Coinberry.
The consideration paid consisted of an aggregate of 28,925,645 newly issued common shares of WonderFi, the majority of which were subject to certain lock-up requirements.
WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms.
WonderFi Technologies Inc. was up 5.155 per cent, trading at $0.51 at 9:59 AM ET.
