Many notable companies in crypto have largely been based in Asia or various offshore jurisdictions, in an attempt to exploit regulatory grey areas. But one publicly traded company has taken a completely different approach. And now, they are on the verge of becoming the preeminent crypto company in Canada.
What’s happening:
- Toronto based digital asset company WonderFi (TSX:WNDR) has made a recent series of significant moves to establish themselves as a leader in Canadian crypto
- WonderFi now has Canada’s largest user base of crypto participants and operates with full regulatory clarity
Going deeper:
- WonderFi's three wholly owned subsidiaries- Bitbuy, Coinsquare and Smartpay- have all experienced significant growth in their underlying operations since being acquired by WonderFi
- Across institutional capital, payments, asset custody, staking and ATM networks, WonderFi has built out a full ecosystem for accelerating crypto adoption in Canada
Why it matters:
- Regulatory uncertainties and legal challenges have been a persistent obstacle for ramping up crypto adoption in North America
- WonderFi has uniquely positioned themselves as a leader in Canada for regulated crypto exchanges and digital asset payment platforms
By the numbers:
- Between WonderFi’s two wholly owned subsidiaries Bitbuy and Coinsquare, there are over $1B CAD of customer assets under custody
- Currently there are 1.6M active users across all of WonderFi’s brands
The intrigue:
- Bitbuy recently launched a collaboration with Localcoin to expand their ATM presence across Canada and enable easier accessibility to digital assets for Canadians
