The transaction enables WonderFi to give Canadians access to a series of products, including retail and institutional crypto trading, staking products, B2B crypto payment processing and digital asset custody. In addition, the business merger will include sports betting and gaming products.
The combined company has transacted over $17bn since 2017 and has over $600m in assets under custody. The combined company is now one of Canada’s largest regulated crypto-investing ecosystems, hosting over 1.6 million registered users.
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“We congratulate the companies on completing this milestone transaction, creating a unique investment opportunity with the leading crypto exchange in Canada”, said Greg Feller, president and CFO at Mogo. “Mogo shareholders move forward with meaningful ownership in a public company with the only fully regulated crypto exchange, as well as scale and diversification that we believe positions them well to benefit from long-term growth trends in the industry and to build value for shareholders over time.”
For WonderFi, the announcement comes after, in June 2022, the company partnered with Web3 payments firm Banxa to extend local payment and banking options for its international users.
Mogo is the largest shareholder of the combined company – owning approximately 14%. In 2020, the Canadian fintech entered the US market through its subsidiary Carta Worldwide, a card-issuing platform.
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