WonderFi Technologies, a Canadian tech firm, is planning to acquire the crypto exchange company “Coinberry” for approximately $30 million. WonderFi Technologies gives access to financial services through DeFi. After the final acquisition, the project would bring two of Canada’s six recognised digital asset trading venues under the same roof, since WonderFi already owns Bitbuy.
Kevin O’Leary’s investment in WonderFi Technologies
WonderFi, which is funded by crypto bull Kevin O’Leary, purchased the Toronto-based crypto exchange Bitbuy Technologies Inc. earlier this year for around $163 million in cash and shares.
According to recent reports, the organisation is planning to increase its operations by purchasing Coinberry for approximately $30 million. If approved by authorities and shareholders, the transaction would provide WonderFi with 160 staff and 750,000 clients.
As Bitbuy and Coinberry are two of the six local exchanges with licences to operate in Canadian territory, experts believe the latest transaction is a step toward nationwide consolidation for the digital asset market.
O’Leary, a popular TV personality and one of WonderFi’s strategic investors, said that the business is planning “many more and much larger” acquisitions.
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