Bitbuy APAC has officially launched, marking a major milestone in WonderFi's global ambitions
Announces partnership with leading Australian e-commerce platform completing first trade in Australia
Toronto, Ontario--(Newsfile Corp. - August 13, 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 the official launch of WonderFi subsidiary Bitbuy APAC ("Bitbuy") in the Asia-Pacific region ("APAC") and the Company's new partnership with Kogan.com (ASX:KGN) ("Kogan"), a leading Australian e-commerce platform.
Bitbuy Officially Launches in APAC
Today, Bitbuy completed its first ever international crypto trade, following WonderFi's March 2024 acquisition of Australian-based FX Institutions Pty. Ltd. Bitbuy has now established a local team based in Melbourne, Australia and is planning further expansion in the coming months. As part of WonderFi's current AUSTRAC Digital Currency Exchange ("DCE") and Payment Remittance registrations, Bitbuy is able to onboard and work with institutional and individual customers throughout APAC.
"Launching in APAC is a significant step forward in our international growth strategy," said Dean Skurka, CEO & President of WonderFi. "We're focused on developing market-leading products and services that will resonate with a global audience and the highly active crypto market in APAC is an ideal entry point."
WonderFi will continue to work closely with local Australian regulators and global law firm Clyde & Co. to obtain an Australian Securities & Investment Commission (ASIC) licence, which will allow it to offer derivatives, non-cash payments and other financial products within the region.
Bitbuy's OTC division is now open for customers and live for trading across the APAC region. More information can be found here.
Strategic Partnership and First Purchase with Kogan
In conjunction with the APAC launch, WonderFi also announced a strategic marketing partnership with Kogan today. Kogan FIRST members will receive exclusive promotions and benefits from Bitbuy to celebrate its launch in Australia, and Kogan will promote and advise Bitbuy across multiple marketing channels in return. To kick off the partnership, Kogan made the first purchase of Bitcoin through Bitbuy APAC and will hold the Bitcoin in their corporate treasury.
"Bitbuy's launch in Australia brings full circle the acquisition of the Bitbuy.com domain from Kogan.com in 2021," said Bobby Halpern, Chair of the Board of Directors of WonderFi. "Bitbuy's long-term plan has always been to develop and market its proprietary products and technology to regulated markets globally and we're extremely pleased to have made substantive progress in that goal. We look forward to collaborating with the entire Kogan team."
"We're excited to partner with Bitbuy on its APAC launch and to provide our Kogan FIRST members with exclusive access to a number of benefits and offers," said David Shafer, Executive Director of Kogan.com. "We're also looking forward to partnering with the Bitbuy team to explore new opportunities within the cryptocurrency space."
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 $1.35B 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 and SmartPay.
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.
About Kogan.com
Kogan.com's purpose is helping customers live their best lives by delivering remarkable value. Kogan.com is a portfolio of retail and services businesses including Kogan Retail (the Kogan.com and DickSmith.com.au and NZ retail websites), Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Travel and Kogan Money. The Kogan brand is renowned for value leadership in Australia and New Zealand through digital efficiency. KOGAN First members receive free shipping, priority customer service, and exclusive discounts across Kogan.com 1000's products and multiple services.
This news release constitutes "a designated news release" for the purposes of the Company's prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.
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, Australia 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 June 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.
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