NEW: Kevin O’Leary-backed WonderFi plans to acquire Canadian crypto exchange CoinberryHQ for $31 million. By mikeybellusci
Crypto platform WonderFi Technologies intends to buy Canadian crypto trading platform Coinberry for $30.6 million as the Kevin O’Leary-backed company continues to consolidate its presence in Canada, WonderFi said Monday., a crypto trading platform in Canada with over 400,000 users. Coinberry currently services more than 220,000 registered Canadian clients. WonderFi expects the all-stock deal for Coinberry to close in Q2.
Canada’s crypto market remains fragmented, thus consolidation is key for WonderFi, according to CEO Ben Samaroo. WonderFi is also planning to expand globally this year while diversifying its offerings of digital asset products. Samaroo noted that WonderFi is in the process of expanding Bitbuy’s brand into Australia, while “actively looking” at U.S. expansion later this year.
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