WonderFi Announces Closing of Landmark Bitbuy Acquisition - CEO Ben Samaroo - RICH TV LIVE
Channel: RICH TV LIVE
Date: 2022-03-25

WonderFi Announces Closing of Landmark Bitbuy Acquisition - CEO Ben Samaroo - RICH TV LIVE - #wonderfi #bitbuy #richtvlive #ceo #bensamaroo #news #business #crypto
WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (FTX: WNDR) (the "Company" or "WonderFi") today announced that it has closed the previously announced acquisition (the "Acquisition") of First Ledger Corp., ("FLC") the parent company of Bitbuy Technologies Inc. ("Bitbuy"), a leading cryptocurrency platform and the first approved crypto marketplace in Canada.

On Friday, March 25 at 11:00AM Eastern Time, the NEO Exchange will host a live event with Ben Samaroo, CEO of WonderFi, Michael Arbus, CEO of Bitbuy and Kevin O'Leary, strategic investor in WonderFi, to discuss the landmark acquisition and future plans of WonderFi. To register for the event, please visit: https://bit.ly/3wjKXIj.

Michael Arbus, CEO of Bitbuy commented: "The combination of Bitbuy, Canada's largest approved crypto trading marketplace, and WonderFi's decentralized product line-up creates an innovative experience for our Clients, and a globally competitive platform, positioned to enter new markets."

"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."

Kevin O'Leary, globally renowned investor, ambassador and strategic advisor to WonderFi commented: "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."

Key Transaction Benefits

WonderFi now owns Canada's largest approved crypto marketplace, and one of fastest growing crypto platforms.
This transaction diversifies WonderFi's business lines to now including a regulated crypto marketplace, OTC business and liquidity provider which services retail, corporate and institutional clients.
WonderFi has now further vertically integrated its business, introducing a strong front-end business line and enabling licensed fiat on-ramp and other features amidst growing market demand.
Bitbuy's over 400,000 registered users are now a part of the growing WonderFi ecosystem, bringing over $455 million of assets under custody as at December 31, 2021.
The combined company, with over 120 on staff, will be exclusively focused on introducing new features, offerings and functionality, creating Canada's largest talent pool of crypto tech professionals.
The combination of two experienced Canadian teams will bring material revenue and cost synergies through user base integration, cross-selling services and a combined global offering with new innovative products.
With the capital markets expertise of seasoned advisors such as Kevin O'Leary, the company is positioned to expand beyond the Canadian borders and is targeting expansions into other high growth markets.

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