Vancouver, British Columbia–(Newsfile Corp. – August 2, 2022) – WonderFi Technologies Inc. (TSX: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (FSE: WNDR) (the “Company” or “WonderFi“) is pleased to announce it has initiated the application process in multiple jurisdictions including in the United States, the United Kingdom and Australia to expand Bitbuy Technologies Inc. (and together with its affiliates, “Bitbuy“) internationally, in furtherance of the Company’s mission to provide simple access to crypto trading in a compliant and regulated manner.
These G20 jurisdictions have advanced financial infrastructure and are leaders in the global economy. WonderFi believes its investment in working with the regulators in these key jurisdictions to bring regulated crypto to their populations will help to legitimize crypto and create more confidence for users and investors in the years to come. The United States, the United Kingdom and Australia have a combined population of over 400 million.
Further, WonderFi announces that, in connection with its recent acquisitions of Bitbuy and Coinberry Limited (“Coinberry“), the Company is executing on its acquisition integration strategy to streamline internal functions across the three companies, primarily with respect to Information Technology, Security, Operations and Marketing (the “Integration Strategy“).
WonderFi anticipates reductions in expenses associated with salaries and wages of approximately 20% for fiscal 2022, along with further potential reductions in operating costs among WonderFi, Bitbuy and Coinberry as synergies from consolidating vendors and renegotiating terms are realized. In connection with the Integration Strategy, Michael Arbus, CEO of Bitbuy, will step down on mutually agreed terms with the Company and Dean Skurka, President of Bitbuy will continue to provide overall leadership support to both Bitbuy and Coinberry in his role of Head of Exchanges at WonderFi.
Michael Arbus stated: “I want to thank everyone that helped to make Bitbuy a leading crypto asset trading platform. It has been a pleasure working with investors, management and our amazing team. It has been an incredible journey at Bitbuy and WonderFi and I continue to believe strongly in the Company’s future.”
WonderFi CEO Ben Samaroo commented: “The Integration Strategy that we are undertaking will allow us to be more agile and streamlined as we expand globally. We have built a strong foundation for future growth by streamlining our operations, and we will continue to maximize shareholder value through bringing compliant crypto to the masses.”
Additional Information
For additional information, please contact:
WonderFi Technologies Inc.
Ben Samaroo, CEO
[email protected]
(778) 843-9637
Investor Relations Contact: [email protected]
Media Contact:
Binu Koshy, Communications Director
[email protected]
ABOUT WONDERFI
WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized…
