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WonderFi Transforms Market With Launch Of Institutional Crypto Service Coinsquare Alpha

Renato Capelj
June 15, 2024

WonderFi Technologies Inc (TSX:WNDR) (OTCQB:WONDF), a regulated cryptocurrency trading and digital asset management company, has made a significant move in the market, launching CoinSquare Alpha, a unique crypto service for institutional clients with large portfolios and volumes.

Why It Matters: WonderFi strategically addresses imbalances in traditional financial systems through key acquisitions, platform integrations and user-friendly sign-on experiences. Its acquisition of platforms like Bitbuy, CoinSmart and Coinsquare has strengthened its global expansion and positioned it to establish one of the largest user bases in the crypto market.

Further, WonderFi delivered on its promise to attract institutional investors this week by launching Coinsquare Alpha, an institutional crypto offer designed to meet the diverse needs of trading firms, advisors, asset managers and more. The features of this service include enhanced trading functionality, 24/7 API connectivity and bespoke custody solutions.

"We saw the launch of the US spot Bitcoin ETFs earlier this year as the official signal that institutions are finally entering the crypto space meaningfully," said Dean Skurka, president and CEO of WonderFi. "We expect institutional interest to move beyond Bitcoin and into other areas of crypto as regulations continue to progress. It’s critical that WonderFi has institutional-grade offerings, and we are assisting these firms in onboarding to crypto in a safe and regulated way."

What To Watch For Next: WonderFi’s commitment to regulation and transparency has positioned it as a pillar of stability and innovation, particularly following the volatility that led to the downfall of its larger peers over the past three years.

"It turns out that the bet I made up in Canada was right," early backer Kevin O'Leary said, adding that the slow and steady approach has worked in WonderFi's favor. "I think the Canadians are the shining model of what will happen in other geographies. My auditors and compliance department can mark-to-market positions daily, just like they do in our equity and bond portfolios. Bitbuy, Coinsquare, and CoinSmart are proven platforms with licenses that will attract institutional investors."

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