WonderFi, a tech company focused on decentralized finance, has announced it has entered into a definitive agreement to acquire Coinberry, a Canadian licensed cryptocurrency exchange. According to a press release, the deal is valued at approximately $38.3 million in an all-stock deal and is expected to close in Q2 2022.
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Ben Samaroo, WonderFi CEO, says the deal establishes a "great framework for our expansion into global markets in 2022." With the purchase, WonderFi will become the largest Web3 company in Canada with over 750,000 users, and will be Canada’s largest employer of crypto-industry with over 160 employees. Kevin O'Leary, strategic investor in WonderFi, said:
"Compliant access to crypto is what matters and WonderFi has quickly established itself as a leader in Canada. Next stop, global."
Founded in 2017, Coinberry transacted over $1 billion in crypto to date. The exchange currently features 29 of the top cryptocurrency trading pairs and services over 220,000 users, with over $13 million in revenue for the twelve months ended December 31, 2021.
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