WonderFi Seeks NASDAQ Listing: Major Crypto Expansion Plan
In a noteworthy development, WonderFi Technologies Inc., a prominent Canadian cryptocurrency service provider listed on the TSX under the ticker symbol WNDR, has disclosed its intentions to register with the United States Securities and Exchange Commission (SEC).
This strategic move signifies WonderFi’s bold stride into the international arena as it aims to list its common shares on the NASDAQ exchange.
This announcement marks the inception of a global expansion initiative by the Toronto-based multi-service crypto company. According to a press release disseminated via Yahoo Finance on October 6, Dean Skurka, WonderFi’s President and Chief Executive Officer, shared insights into the significance of this SEC registration in their broader growth strategy:
“Securing SEC registration is an instrumental first step for WonderFi as we embark on expanding our company’s footprint in the United States.”
A noteworthy aspect of WonderFi’s profile is its ownership of four cryptocurrency service provider entities and a substantial equity stake in Tetra, a leading Canadian digital asset custodian. This consolidated structure translates into a vast user base exceeding 1.6 million registered Canadians and a combined assets under custody tally exceeding $730 million.
Among the quartet of wholly-owned companies within WonderFi’s portfolio, three occupy pivotal roles as registered crypto trading platforms in Canada: Bitbuy, Coinsquare, and Coinsmart. Complementing these exchanges is SmartPay, a global platform specializing in cryptocurrency payment processing.
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Meanwhile, the stock of WNDR is actively trading on the Toronto Stock Exchange, currently quoted at $0.13 CAD per share. Despite a year-to-date loss of 7%, WNDR has experienced a 4% surge in its value over the past 24 hours, reflecting investor enthusiasm in response to the new expansion strategy and SEC registration.
However, it’s crucial to note that while the company has initiated the listing registration process, obtaining approval is by no means guaranteed. It’s widely recognized that the U.S. SEC has taken assertive regulatory actions against cryptocurrency exchanges and service providers in the American market, which introduces anticipated challenges to this strategic move.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
