- Sets monthly records in client assets under custody, assets staked on platform, client registrations and monthly transacting users
- Delivers sharp increases in revenue and interest income, and total trading volume
Toronto, Ontario--(Newsfile Corp. - December 3, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) ("WonderFi" or the "Company"), a global leader in centralized and decentralized financial services and products, is pleased to share that its wholly-owned and operated Bitbuy and Coinsquare crypto trading platforms achieved a number of historic milestones in the month of November 2024.
"The records we've set in the past month underscore our ability to offer reliable, safe and secure trading in the world's premier cryptocurrencies while delivering an exceptional customer experience," said WonderFi President & CEO Dean Skurka. "We're also pleased the strong momentum in our business is carrying into December, supported by a broader bull market for digital assets and a promotional holiday campaign aimed at rewarding loyal customers and driving higher engagement. We remain focused on continuous improvement and innovation as we build Bitbuy and Coinsquare into world-class cryptocurrency destinations for retail and institutional investors alike."
Key Financial and Operational Highlights for November 2024:
- Achieved $8.5 million in revenue and interest income, representing an increase of 141% from October, and 210% increase from the Q3 2024 Monthly Average. Costs associated with the revenue were in-line with ordinary course operating conditions.
- Bitbuy and Coinsquare facilitated $450 million in trading volumes in November, representing a 185% increase from the Q3 2024 Monthly Average.
- Achieved a new record in client assets under custody, surpassing $2.2 billion as of the end of November, an increase of 125% year-to-date.
- User registrations surpassed 20,000 in November, the best month this year, representing an increase of 120% compared to October, and 219% compared to the Q3 Monthly Average.
- Monthly Transacting Users on the Bitbuy and Coinsquare platform increased by 82% compared to October, and 80% compared to the Q3 Monthly Average.
- During the month of November, the Company re-purchased for cancellation 3,075,500 common shares at an average price of $0.195.
ABOUT WONDERFI
WonderFi is the largest regulated crypto trading platform in Canada and a global leader in centralized and decentralized financial services and products.
With over $2.2B 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/232278
SOURCE: WonderFi Technologies Inc.
