Milestone marks an increase of 65% since quarter-end and 110% year to date
Client assets staked on the platforms surpassed $120M, an increase of 165% YTD
Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) ("WonderFi" or the "Company"), a global leader in centralized and decentralized financial services and products, is pleased to announce that its Bitbuy and Coinsquare crypto trading platforms have achieved a new record in client assets under custody, surpassing the $2.1 billion mark, as at market close on November 25, 2024.
The significant milestone was reached amidst an increasingly optimistic global sentiment for digital assets and marks an increase of over 65 percent since the end of the third quarter and a 110 percent increase as compared to year-end 2023. Client cash balances have also increased 66 percent since quarter-end, representing a meaningful surge in client deposits.
The total value of assets staked on the platforms now exceeds $120 million, an increase of 165 percent year-to-date, including a 50 percent surge since quarter-end.
WonderFi's flagship Bitbuy and Coinsquare crypto trading platforms have continued to reach new heights in recent weeks, with the two Canadian market leaders marking upswings in revenue, client registrations and assets under custody, as investors continue to react to the sector's positive momentum and increasing acceptance as a long-term asset class.
"We're extremely pleased with the new market confidence demonstrated by investors," said Dean Skurka, President and CEO of WonderFi. "Consumers have long been optimistic about the value in the industry and their confidence has now been bolstered through the recent moves by multiple global jurisdictions and institutional-level investors to treat digital assets as a viable long-term investment option."
ABOUT WONDERFI
WonderFi operates the largest regulated crypto trading platform in Canada and a global leader in centralized and decentralized financial services and products.
With over $2B in assets under custody, WonderFi is well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications.
Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining applicable licenses. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay and Tetra Trust.
As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.
For more information, visit www.wonder.fi
For additional information, please contact:
Investor Relations
Charlie Aikenhead
WonderFi
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. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation, decisions to modify, pause or discontinue certain treasury management strategies. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended September 30, 2024, available on its SEDAR+ profile at www.sedarplus.ca.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in 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 subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231391
SOURCE: WonderFi Technologies Inc.
