WonderFi becomes one of the largest registered crypto asset trading ecosystems in Canada
Three crypto asset trading firms have completed their combination to create a registered crypto trading ecosystem.
WonderFi, Coinsquare, and CoinSmart announced their intention to merge in April this year and as of last week the new entity WonderFi Technologies Inc. is in operation and listed on the TSX with the ticker WNDR. It’s also listed on exchanges in the US and Germany.
The combined entity operates the Bitbuy, Coinsquare, CoinSmart, and Coinberry crypto asset platforms and has a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $600 million.
The firm has also announced the appointment of Dean Skurka as the permanent CEO having led WonderFi since 2022 in an interim role.
“We have a huge opportunity to contribute significant value to the Canadian digital asset industry and to our shareholders,” Skurka said. “I am fully committed to ensuring WonderFi's long-term success and eagerly anticipate expanding our offerings following the transformative transaction we recently announced."
Former CoinSmart executive Gordon Brocklehurst is another senior leader at the combined firm, reprising his role as chief financial officer.
Long-term growth trends
Among the firm’s shareholders are Mogo Inc. through its 34% stake in Coinsquare.
Mogo’s president and CFO Greg Feller congratulated the companies on completing their transaction.
“Mogo shareholders move forward with meaningful ownership in a public company with the only fully regulated crypto exchange, as well as scale and diversification that we believe positions them well to benefit from long-term growth trends in the industry and to build value for shareholders over time,” he said.
