Cryptocurrency Stock News: WonderFi's (TSX: WNDR) Bitbuy and Coinsquare Platforms Exceed $1 Billion in Combined Client Assets Under Custody
Toronto, Ontario - September 6, 2023 (Newsfile Corp.) (Investorideas.com Newswire) WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") is pleased to announce that Bitbuy Technologies Inc. ("Bitbuy") and Coinsquare Capital Markets Ltd. ("Coinsquare"), its two wholly owned crypto trading platforms, have surpassed $1 billion in combined client cash and digital assets under custody.
"After completing the third quarter with combined client assets under custody of $695 million, we are encouraged by improving industry conditions and increased activity across the Bitbuy and Coinsquare platforms," shared Dean Skurka, President and Chief Executive Officer of WonderFi. "As two of Canada's largest and most trusted cryptocurrency exchanges, Bitbuy and Coinsquare continue to be the preferred partners for Canadians looking to access and purchase digital assets in a safe and secure way," added Mr. Skurka.
Bitbuy and Coinsquare's client assets under custody have positively benefited from new user growth, increased user activity and price appreciation in the digital asset sector. During the month of November, the platforms experienced a combined 16% increase in monthly active users as compared to the monthly active user count in October. The platforms also recorded a 54% increase in total trading volume during the month of November, compared to the average monthly total trading volume in the third quarter.
ABOUT WONDERFI
WonderFi owns and operates leading digital asset businesses in Canada. WonderFi is the holding company for Bitbuy and Coinsquare, two of Canada's largest crypto trading platforms and SmartPay, a crypto payments processing platform.
With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $1 billion, WonderFi serves one of the largest crypto investor communities in Canada.
For more information, visit www.wonder.fi.
Additional Information
For additional information, please contact:
Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.
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