WonderFi Technologies, a decentralized finance (DeFi) platform, plans to proceed its growth in Canada by buying the Coinberry crypto trade for $38 million. The platform would be the second regulated crypto trade below WonderFi as soon as the acquisition is finalized.
The agency not too long ago closed its acquisition of Bitbuy’s mum or dad firm First Ledger Corp. for $162 million. In an interview, Kevin O’Leary talked about that there might be “several more and even bigger” acquisitions which are on the best way.
O’Leary additionally highlighted that the corporate is competing on the worldwide stage whereas ensuring that it is on “a regulated foundation.” The billionaire talked about that the staff is “not taking any dangers” and are working below regulated situations.
According to O’Leary, the shoppers of each platforms acquired won’t see any on the spot modifications. However, the Shark Tank star additionally famous that WonderFi plans so as to add options to every platform.
With the acquisition of Coinberry, WonderFi will personal two out of the six regulated exchanges in Canada. Bitbuy, WonderFi’s current buy turned totally regulated after being licensed by the Ontario Securities Commission (OSC) in November 2021. On the opposite hand, Coinberry additionally registered within the OSC in August final 12 months.
Apart from the 2 exchanges, solely 4 different platforms are registered for offering crypto buying and selling. These embrace Wealthsimple, CoinSmart, Netcoins and Fidelity.
Related: Mr. Wonderful plans to spend money on mining firm shares
Kevin O’Leary, previously a Bitcoin skeptic, talked about final 12 months that his crypto holdings have surpassed his gold portfolio. However, O’Leary additionally talked about that gold and Bitcoin (BTC) comparisons are irrelevant as they’re “two completely different asset lessons.”
In an unique interview with Cointelegraph, the businessman in contrast investing in BTC to investing in tech companies like Google and Microsoft. According to O’Leary, when folks spend money on these companies, they’re “investing in software program.” O’Leary believes that investing in crypto is analogous.