Expanding the WonderFi Ecosystem
“We are excited to welcome Bitvo’s clients to the WonderFi ecosystem,” said WonderFi President and Chief Executive Officer, Dean Skurka. “The acquisition of Bitvo’s clients represents a non-dilutive acquisition for WonderFi, with immediate cash flow, increased scale, and an expected payback period of less than six months.”
According to a press release, WonderFi has now consolidated five out of eleven of the country’s regulated crypto exchanges, including Coinberry, CoinSmart, and Coinsquare.
- Currently, Bitvo has over 17,000 client accounts, generating over $235 million in trading volume within this past year.
- As of last month, the company generated over $35 million from trading volume on the exchange alone.
“This acquisition also accelerates our growth efforts, and diversifies our client profile with Bitvo’s strong institutional client base,” stated Mr. Skurka. “We look forward to working with the Bitvo team to ensure a smooth transition.”
