Image default
Blockchain

WonderFi to Acquire Canadian Crypto Exchange Parent Firm First Ledger with $206M

WonderFi, a Vancouver-based and Canadian politician Kevin O’Leary-backed agency, introduced the acquisition of First Ledger Corp., the mother or father firm of Canadian cryptocurrency trade Bitbuy with $206 million.

First Ledger Corp is Toronto-based, its cryptocurrency platform Bitbuy is the primary legally permitted cryptocurrency trade in Canada.

As introduced by The Ontario Securities Commission (OSC), the six encryption platforms, together with Bitbuy which have been registered with OSC.

Bitbuy is one among Canada’s hottest cryptocurrency exchanges. It has supplied companies to greater than 375,000 Canadian prospects, with a transaction quantity of greater than 4.4 billion U.S. {dollars} by means of the platform. Last 12 months, on September 30, 2021, the platform generated greater than $31 million in income in 12 months.

According to the phrases of the official settlement issued on Tuesday, the acquisition was carried out in money and inventory, with a complete transaction worth of $206 million.

WonderFi will conduct this acquisition by issuing 70 million new shares and paying $50 million in money, together with an advance cost of $20 million. This will probably be Canada’s first acquisition of a totally regulated cryptocurrency platform. It is anticipated that this harvest will probably be accomplished within the first quarter of this 12 months, and Bitbuy nominees, together with Bitbuy President Dean Skurka, will be a part of WonderFi’s board of administrators.

WonderFi Technologies and First Ledger Corp. promise to create a unified platform for customers to buy cryptocurrencies akin to Bitcoin and Ethereum and supply entry to decentralized finance (DeFi).

WonderFi, CEO Ben Samaroo, mentioned that relating to the acquisition:

“The integration of Bitbuy’s product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the company.”

O’Leary said in a press launch that the deal is “a combination of two management teams with excellent execution 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.” 

Image supply: Shutterstock

Related posts

Rio de Janeiro Plans to become “Crypto Rio” by Storing Part of its Reserves in Bitcoin

Crypto Advisor

Filecoin Miner RRMine Global Shuts Down Market in China, Moves HQ to Singapore

Crypto Advisor

Axie Infinity Loses $620 Million once Hacker Compromised Ronin Validators

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 19,204.28 0.84%
ethereum
Ethereum (ETH) $ 1,297.96 3.21%
tether
Tether (USDT) $ 1.00 0.03%
usd-coin
USD Coin (USDC) $ 1.00 0.03%
bnb
BNB (BNB) $ 268.78 0.70%
binance-usd
Binance USD (BUSD) $ 1.00 0.12%
cardano
Cardano (ADA) $ 0.456067 1.25%
xrp
XRP (XRP) $ 0.426724 5.51%
polkadot
Polkadot (DOT) $ 6.46 2.38%
solana
Solana (SOL) $ 32.29 1.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 3.41%
dogecoin
Dogecoin (DOGE) $ 0.059281 0.77%
staked-ether
Lido Staked Ether (STETH) $ 1,289.05 3.06%
matic-network
Polygon (MATIC) $ 0.753953 3.41%
tron
TRON (TRX) $ 0.059797 0.21%
dai
Dai (DAI) $ 1.00 0.03%
avalanche-2
Avalanche (AVAX) $ 17.60 4.48%
ethereum-classic
Ethereum Classic (ETC) $ 28.85 0.49%
leo-token
LEO Token (LEO) $ 4.72 2.36%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,244.67 1.31%
uniswap
Uniswap (UNI) $ 5.82 7.63%
litecoin
Litecoin (LTC) $ 53.31 2.31%
cosmos
Cosmos Hub (ATOM) $ 14.33 0.73%
okb
OKB (OKB) $ 14.86 0.13%
ftx-token
FTX (FTT) $ 23.35 0.67%
terra-luna
Terra Luna Classic (LUNC) $ 0.000284 0.93%
near
NEAR Protocol (NEAR) $ 3.86 1.40%
chainlink
Chainlink (LINK) $ 7.04 0.98%
crypto-com-chain
Cronos (CRO) $ 0.105936 1.72%
monero
Monero (XMR) $ 140.17 1.35%
stellar
Stellar (XLM) $ 0.116893 2.07%
bitcoin-cash
Bitcoin Cash (BCH) $ 115.71 2.91%
algorand
Algorand (ALGO) $ 0.37412 15.79%
flow
Flow (FLOW) $ 1.70 1.93%
vechain
VeChain (VET) $ 0.02273 0.69%
eos
EOS (EOS) $ 1.24 4.33%
internet-computer
Internet Computer (ICP) $ 6.13 4.71%
filecoin
Filecoin (FIL) $ 5.50 3.89%
chain-2
Chain (XCN) $ 0.066573 1.13%
frax
Frax (FRAX) $ 0.998596 0.00%
hedera-hashgraph
Hedera (HBAR) $ 0.059566 3.05%
decentraland
Decentraland (MANA) $ 0.71233 1.08%
apecoin
ApeCoin (APE) $ 5.98 5.71%
the-sandbox
The Sandbox (SAND) $ 0.856714 1.38%
tezos
Tezos (XTZ) $ 1.50 3.78%
quant-network
Quant (QNT) $ 105.43 4.60%
axie-infinity
Axie Infinity (AXS) $ 12.21 0.24%
aave
Aave (AAVE) $ 75.84 0.12%
lido-dao
Lido DAO (LDO) $ 1.88 4.37%
elrond-erd-2
Elrond (EGLD) $ 47.48 0.02%
theta-token
Theta Network (THETA) $ 1.09 4.69%
true-usd
TrueUSD (TUSD) $ 1.00 0.09%
chiliz
Chiliz (CHZ) $ 0.249475 9.49%
bitcoin-sv
Bitcoin SV (BSV) $ 49.91 2.36%
compound-usd-coin
cUSDC (CUSDC) $ 0.022679 0.08%
paxos-standard
Pax Dollar (USDP) $ 0.999127 0.11%
kucoin-shares
KuCoin (KCS) $ 8.86 1.21%
bittorrent
BitTorrent (BTT) $ 0.00000078700386 0.11%
ecash
eCash (XEC) $ 0.000039 0.74%
the-graph
The Graph (GRT) $ 0.099785 2.75%
iota
IOTA (MIOTA) $ 0.262894 1.77%
zcash
Zcash (ZEC) $ 55.24 3.19%
huobi-btc
Huobi BTC (HBTC) $ 19,242.42 1.65%
usdd
USDD (USDD) $ 0.999493 0.03%
huobi-token
Huobi (HT) $ 4.54 0.29%
evmos
Evmos (EVMOS) $ 2.47 3.09%
havven
Synthetix Network (SNX) $ 2.40 1.41%
cdai
cDAI (CDAI) $ 0.022072 0.09%
maker
Maker (MKR) $ 632.79 3.04%
bitdao
BitDAO (BIT) $ 0.494422 0.87%
klay-token
Klaytn (KLAY) $ 0.20814 3.67%
neutrino
Neutrino USD (USDN) $ 0.953405 1.52%
fantom
Fantom (FTM) $ 0.232235 3.06%
compound-ether
cETH (CETH) $ 25.91 3.66%
neo
NEO (NEO) $ 8.41 0.99%
helium
Helium (HNT) $ 4.69 2.88%
gatechain-token
Gate (GT) $ 4.20 0.66%
defichain
DeFiChain (DFI) $ 0.824564 0.07%
radix
Radix (XRD) $ 0.058241 3.35%
celsius-degree-token
Celsius Network (CEL) $ 1.66 14.78%
pax-gold
PAX Gold (PAXG) $ 1,662.76 0.50%
pancakeswap-token
PancakeSwap (CAKE) $ 4.29 0.72%
thorchain
THORChain (RUNE) $ 1.63 0.70%
osmosis
Osmosis (OSMO) $ 1.23 1.30%
zilliqa
Zilliqa (ZIL) $ 0.03308 4.93%
enjincoin
Enjin Coin (ENJ) $ 0.476572 1.44%
nexo
NEXO (NEXO) $ 0.917136 2.87%
arweave
Arweave (AR) $ 9.98 6.11%