WonderFi Takes Over the Crypto World: Bitbuy Acquisition

Bitbuy Subsidiary, WonderFi, Acquires Bitvo - Now Canada's Largest Exchange with Nearly Half of All Market Share

WonderFi subsidiary Bitbuy acquires Bitvo, now owning almost half of all Canadian exchanges.

In a move that rocked the North American crypto-trading scene, WonderFi, the Canadian-based technology company, announced its acquisition of Bitvo Inc. on Wednesday, November 15th. You might be wondering, with this acquisition, does WonderFi now have control over 50% of all regulated crypto-trading platforms in Canada? You betcha!

“We are excited to welcome Bitvo’s clients to the WonderFi ecosystem,” said WonderFi President and CEO, Dean Skurka. “This acquisition represents a non-dilutive addition, giving us immediate cash flow and increased scale. It’s basically like winning the lottery, but without all the taxes!”

You won’t believe this, but WonderFi has now consolidated five, yes FIVE, out of the eleven regulated crypto exchanges in the country. It’s like becoming a superhero, but instead of having superpowers, all you need is a love for blockchain technology. WonderFi has already acquired Coinberry, CoinSmart, and Coinsquare, making them the dominant force in the market.

Picture this: Bitvo has over 17,000 client accounts, and they generated a staggering $235 million in trading volume in just one year alone. And that’s not all! In just the last month, they raked in a cool $35 million from trading volume on their exchange. We’re talking about some serious cha-ching!

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Now, let’s talk about the big kahuna—the North American cryptocurrency market. According to a report by Chainalysis, transfers in this market reached a mind-blowing $1.2 trillion between July 2022 and July 2023. That’s right, trillion with a ‘t’! If the crypto market was a fancy buffet, North America would be stacking its plate with more than their fair share.

But wait, there’s more! WonderFi isn’t just interested in dominating the market. With over 1.6 million Canadian users and $875 million worth of assets under their custody, they’re in it to win it. As part of the acquisition, Bitvo clients will receive added benefits and services, including regulated staking. It’s like getting a deluxe vacation package, but instead of sandy beaches, you’re lounging in the world of crypto.

Bitvo’s Chairman of the Board, Jeffrey Smith, is just as thrilled as we are about this partnership. “We chose to partner with Bitbuy due to our longstanding relationship with the Bitbuy team and their commitment to providing an overall great crypto trading experience,” he said. Talk about a match made in the blockchain!

And let’s not forget about what’s brewing up north. According to the Ontario Securities Commission, around 30% of Canadians are eagerly preparing to dive into the crypto world within the next 12 months. It’s like a frenzy of zealous aquatic adventurers seeking to explore the hidden depths of digital assets.

But wait, there’s even more! The popular exchange Coinbase recently launched in Canada, acknowledging the country as “the world’s third-most crypto-aware nation.” Canada isn’t just known for its maple syrup and politeness—it’s becoming a hotbed of crypto enthusiasts and technological innovation. It’s like a secret society of crypto wizards, casting spells of financial freedom.

So dear reader, the world of crypto is expanding, and WonderFi is leading the charge. Strap in and prepare for the ride of a lifetime. Who knows, maybe one day you’ll be sipping cocktails on a yacht, funded by your crypto investments. The possibilities are endless, and the future is blockchain-powered. Cheers to that!

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