BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

On behalf of WonderFi Technologies Inc.

The financial world is on fire.

BTC’s explosive climb past $66,000 is no fluke—it’s the spark that’s igniting a digital currency boom like we’ve never seen before.

image2 4 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift — Source: TradingView, Oct 15, 2024

This is more than just a price rally—it’s a market shift fueled by powerful economic and geopolitical forces:

China’s Economic Stimulus: China’s decision to inject liquidity into its slowing economy has triggered an incredibly large rotation of capital, pushing investors toward BTC as a store of value.¹
Inflation Concerns: With inflation steadily eating away at the value of fiat currencies, BTC is emerging as a hedge against a weakening dollar and other traditional assets. And with potential Fed rate cuts on the horizon, the stage is set for an even bigger flood into digital assets.
BTC Exchange-Traded Funds Soar: BTC ETFs have attracted $19 billion in net flows since their launch² and inflows just hit a multi-month record of $556 million in a single day,³ highlighting growing institutional confidence in BTC as a global asset.

Breaking News

WonderFi Reports Third Quarter 2024 Results

Even Wall Street titans like BlackRock CEO Larry Fink, who was once a major skeptic, has changed his tune – and not a moment too soon.

In just nine months, BlackRock’s BTC ETF has amassed $23 billion in assets,⁴ signaling strong institutional confidence in the future of digital currencies.

It’s really no surprise analysts are predicting that BTC could hit $115,000 by year-end.⁵

We’re not just witnessing change; we’re standing on the front lines of a financial revolution of historic proportions.

And one forward-thinking company is standing at the forefront of this financial revolution—WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF).

As the parent of Canada’s largest regulated digital currency trading platform, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is positioned to thrive in this evolving market, offering cutting-edge services in trading, payments, and decentralized finance.

With over $1.35 billion in assets under custody,⁶ WonderFi is positioned to thrive in the global market, offering cutting-edge solutions in trading, payments, and decentralized products like its upcoming WonderFi Layer 2 blockchain and WonderFi Non-Custodial Wallet (more on these game-changers later).

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) has been experiencing substantial increases in trading volumes and client assets under custody over the last year.

In Q1 2024 alone, WonderFi’s platforms smashed records by processing an astounding $1.1 billion in trading volumes—a jaw-dropping 58% increase from Q4 2023.

This momentum continued into Q2 2024, when WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) achieved a 303% year-over-year revenue increase, generating C$12 million in the quarter.⁷

Bitbuy and Coinsquare, two of WonderFi’s powerhouse platforms, surpassed $1.35 billion in client assets under custody by June 30, 2024—an impressive 337% increase from the prior year.

This surge is expected to continue as WonderFi expands into high-growth regions like APAC (Asia Pacific) and Australia, promising to significantly boost trading activities and user engagement.

But, this is all really just the beginning of where this company is headed…

Emerging Giants in the APAC Digital Currency Rush

Digital currency adoption is skyrocketing worldwide, but nowhere is this growth more explosive than in the Asia-Pacific (APAC) region.

APAC is not just emerging as a player—it’s positioning itself as the epicenter of the digital currency revolution, thanks to a groundbreaking shift in the region’s approach to regulation.⁸

In the wake of high-profile collapses like Sam Bankman-Fried’s FTX exchange⁹ and Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon, APAC countries have responded with an unprecedented boom in digital currency regulations.¹⁰

Now, the APAC region is projected to lead global revenue growth in banking and financial services, reaching $81.5 billion by 2030.¹¹

Governments across the region have acted swiftly and decisively, implementing robust regulatory frameworks that are now being hailed as the gold standard for blockchain regulation.¹²

Ripple’s Fiona Murray predicts a significant rise in digital currency adoption in APAC by 2024, reflecting the region’s proactive stance on regulation.¹³

This is where WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) comes in as a key player in this rapidly evolving market.

WonderFi operates Bitbuy, Coinsquare, and SmartPay, leading platforms in Canada and global payments.

Already a powerhouse in Canada that serves one of the largest digital currency investor communities with over 1.6 million registered Canadians and assets under custody¹⁴ exceeding $1.35 billion,¹⁵ WonderFi is now making headlines with its strategic expansion into the APAC region.

WonderFi’s acquisition of FX Institutions (FXI) in Q2 2024¹⁶ marks a monumental entry into Australia’s vibrant digital asset community, where the rate of digital currency adoption is the highest among developed nations at 23%—outpacing the USA’s 16% and the UK’s 12%.¹⁷

This move is more than just an expansion; it’s a strategic foothold in one of the most dynamic and rapidly growing digital currency markets in the world.

Let’s now explore why WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) stands out as a powerhouse in the digital currency landscape.

7 Highlights

That Make WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) a MUST-WATCH

Launch of WonderFi Labs and its “Wallet 2.0”: WonderFi Labs is building the WonderFi Non-Custodial Wallet (WonderFi Wallet) and the WonderFi L2 blockchain.¹⁸ This Wallet 2.0 will offer access to thousands of digital currencies ,new generation apps, EVM-compatible integrations and unmatched security and flexibility.

BTC and ETH Treasury Program: WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) has started accumulating BTC and ETH, with total holdings valued at approximately US$3.85 million as of mid-July.¹⁹ This program, launched on July 16, 2024, aims to hedge against fiat currency inflation, showcasing WonderFi’s strategic approach to asset management.

Coinsquare Alpha Launch: WonderFi’s Coinsquare just launched Coinsquare Alpha, offering improved trading functionality, API connectivity, OTC services, custody solutions, and staking for institutions. This platform targets professional OTC clients with significant trading volumes, enhancing WonderFi’s service offerings.

Strategic Expansion into APAC: WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) aims to launch OTC trading services in Australia this year,²⁰ which boasts the highest rate of digital currency adoption among developed nations at 23%.²¹ This expansion includes launching a trading desk and institutional offerings, with Kogan.com as its first major client in Australia.²²

Consolidation of Digital Currency Trading Platforms: Coinsquare acquired Bitbuy’s client accounts, making WonderFi’s Coinsquare the largest CIRO-regulated digital currency trading platform in Canada.²³

Strong Financial Performance: WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) reported impressive net revenue of $12 million in Q2 2024,²⁴ following record quarterly revenue of $18.5 million in Q1 2024.

Ongoing Developments and Strategic Acquisitions: WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) continuously evolves with strategic acquisitions and ongoing developments. The company has acquired Bitvo’s clients accounts,²⁵ Bitstamp’s Canadian clients, Coinsquare, and CoinSmart Financial.²⁶

WonderFi Labs: Pioneering the Next Era of Digital Finance

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is making a profound impact with the launch of WonderFi Labs, an innovation hub dedicated to pushing the boundaries of decentralized technologies and creating cutting-edge products that will redefine the global digital finance landscape.

image1 3 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

At the forefront is the upcoming WonderFi Wallet aka “Wallet 2.0”—a groundbreaking digital wallet designed to give users unparalleled control, security, and flexibility.

Designed for unparalleled control, security, and flexibility, Wallet 2.0 integrates advanced DeFi and on-chain capabilities with the WonderFi Layer 2 blockchain, positioning it as a key tool in markets like APAC and Australia, where digital wallets lead in payment methods.

With APAC leading in digital currency adoption²⁷ and Australia’s user rate at 23%,²⁸ the WonderFi Wallet 2.0 is poised to capture market share. Its state-of-the-art features and robust security make it the ideal solution for users seeking secure and versatile payment options.²⁹

Press Releases

According to Statista, digital wallets are the most used payment method for both e-commerce and point-of-sale transactions across APAC,³⁰ with similar trends emerging in Europe and North America.³¹

Under the leadership of VP of Engineering Kartik Bajaj, WonderFi ensures high security standards and an enhanced user experience. Beyond internal innovation, WonderFi Labs nurtures external projects on its Layer 2 blockchain, creating a thriving ecosystem of decentralized applications designed for fast, low-cost, and secure global transactions.

Strategic expansion into Australia and the broader APAC region positions WonderFi to increase its user base and trading volumes, solidifying its role as a dominant force in the global digital currency ecosystem.

WonderFi’s Portfolio of Market-Leading Brands

WonderFi Labs is just the icing on the cake for what WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) offers. Over the last couple of years, the company has assembled a top-tier market-leading portfolio of digital solutions. WonderFi’s success in Canada bodes well for anticipated growth in the Asia-Pacific (APAC) and Australia (AU) region.

image8 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Bitbuy is Canada’s go-to platform for digital currency trading and a household name among Canadian investors. It’s not just about trading; Bitbuy was one of the first digital currency-native restricted dealers to offer regulated staking overseen by the Ontario Securities Commission (OSC)³² and Canadian Securities Administrators (CSA).³³

With over 900,000 satisfied users and $7 billion in trades, Bitbuy offers something for everyone. Whether you’re a seasoned trader or just starting, Bitbuy provides advanced tools for experts and simple options for beginners. Security is paramount, with 90% of digital currencies stored in cold storage and insured.

Now, Bitbuy is expanding its reach with the launch of its OTC division across the Asia-Pacific (APAC) region, marking a significant milestone in its global strategy. Bitbuy APAC is now live for trading in Australia, supported by a local team based in Melbourne. As part of WonderFi’s AUSTRAC Digital Currency Exchange (DCE) and Payment Remittance registrations, Bitbuy is well-positioned to onboard and work with both institutional and individual customers throughout the APAC region.³⁴

In a strategic move to bolster its presence, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) has also announced a partnership with Kogan, one of Australia’s largest online retailers. This partnership will not only enhance Bitbuy’s market visibility but also provide a robust platform for further expansion in the coming months.

image2 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Coinsquare is modernizing finance with its secure and transparent platform. It was the first digital currency-native marketplace accepted as a CIRO (formerly IIROC) member firm.³⁵

With over 50 digital currencies and 1,300+ trading pairs, Coinsquare offers unparalleled diversification options.³⁶ Its suite of tailored services—from Coinsquare Trade to Coinsquare Pro and Wealth—provides flexibility for all types of users.

image3 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

SmartPay is revolutionizing digital payments for businesses, offering high-volume processing with instant settlements.

Businesses can convert digital currency to fiat instantly, with same-day payouts to bank accounts. Supporting multiple digital and fiat currencies, SmartPay’s global reach and lower transaction fees are particularly appealing in APAC and AU, where cross-border transactions are rising—expected to grow by a third in H2 2024 alone.³⁷

image4 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Tetra Trust is Canada’s only qualified custodian authorized to safeguard digital assets,³⁸ with WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF)holding the largest stake with 37%.

Tetra’s role in promoting a safer digital asset ecosystem complements WonderFi’s vision of global expansion and leadership in digital currency services.

image12 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

WonderFi’s Financial Success: A Story of Growth and Strategy

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) has shown remarkable financial performance, proving its strength and strategic vision in the digital currency sector.

image5 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Q1 & Q2 2024 Earnings: Breaking Records

In the first quarter of 2024, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) generated record net revenues of $18.5 million, a significant increase from the previous quarter’s $12.9 million.³⁹

This 43.4% surge underscores the company’s expanding market presence and its ability to attract and retain a growing number of users. A positive EBITDA of $7.0 million, exceeding previous guidance, further highlights WonderFi‘s operational efficiency and financial health.

Building on this momentum, WonderFi reported net revenue of $12 million in Q2 2024.⁴⁰ The company’s ability to maintain high revenue levels in consecutive quarters underscores its resilience and consistent market demand.

The company’s net income for Q1 2024 soared to $4.9 million, compared to a net loss of $7.6 million in Q1 2023. This turnaround is a testament to WonderFi‘s effective management and strategic focus on high-growth opportunities. The positive financial performance in Q2 further reinforces WonderFi’s position as a leader in the digital asset space, with strong adjusted-EBITDA and contributing to a robust overall financial outlook.

image13 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

BTC and ETH Treasury Program

In July 2024, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) launched a BTC and ETH Treasury Program, bringing its total holdings to approximately US$3.85 million in BTC and ETH.⁴¹ This strategic initiative aims to hedge against fiat currency inflation and showcases WonderFi’s forward-thinking approach to asset management.

By holding significant amounts of BTC and ETH, WonderFi not only diversifies its asset base but also positions itself to benefit from the anticipated growth in the value of these digital currencies.

image10 1 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Strong FY 2023 Performance: Building a Robust Foundation⁴²

Fiscal Year 2023 was a landmark year for WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF), marked by substantial increases in trading volumes and client assets under custody. The company’s platforms processed a record $1.1 billion in trading volumes in Q1 2024, a 58% increase from Q4 2023. Bitbuy and Coinsquare surpassed $1.6 billion in client assets under custody, representing a 60% increase from the previous quarter.

Coinsquare’s launch of staking services, with the largest selection of stakeable assets among CIRO dealer members, saw over $17 million staked since its introduction.⁴³ This innovation attracted significant interest, with clients staking approximately $100 million of assets across Coinsquare and Bitbuy by the end of Q1 2024.

Despite these strong results, WonderFi’s current valuation metrics suggest growth potential compared to industry peers. The table below provides a comparative analysis of WonderFi and Coinbase, illustrating the current difference in valuation:

Chart BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) currently trades at approximately 1.51x its TTM P/S Ratio, which is significantly lower than Coinbase Global.’s 10.35x.

This notable difference highlights WonderFi’s relatively lower valuation compared to industry giants like Coinbase, presenting potential upside as WonderFi continues to grow, enhance its offerings, and capture more market share in the rapidly evolving digital currency space.

image15 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Strategic Costs and Growth: Investing in the Future

WonderFi Technologies Inc’s (TSX:WNDR) (OTCQB:WONDF) Q2 performance, while facing some strategic costs, is positioned to drive future growth. The company’s investments in technological advancements and market expansions, including the acquisition of FX Institution Pty. Ltd. in Australia, demonstrate a forward-thinking approach. This acquisition, which closed subsequent to Q1 2024, provides a solid foundation for WonderFi’s international expansion strategy.⁴⁴

Additionally, WonderFi’s purchase of Bitstamp’s Canadian clients and its active share repurchase program reflect the company’s commitment to enhancing shareholder value and expanding its market footprint.⁴⁵

image16 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

Ongoing Developments and Milestones

Through the end of the year, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is slated to roll out a series of new features. This continuous pipeline of updates is designed to keep the platform dynamic and responsive to user needs. Each new feature aims to enhance the overall user experience, providing more tools and functionalities to meet the evolving demands of digital currency investors.

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is also making significant strides in expanding its market reach.. This move is part of WonderFi’s broader strategy to extend its capabilities and service offerings in the APAC region. WonderFi Australia aims to offer a wider range of financial products, catering to both retail and institutional clients in Australia and beyond.

These ongoing developments and milestones highlight WonderFi’s commitment to growth and innovation. By continuously enhancing its products and expanding its market reach, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is positioning itself as a leader in the digital currency space.

image7 2 BTC Surge Sparks Broader Digital Currency Boom as Global Markets Shift

WonderFi Technologies’ Strong Leadership Team

Dean SkurkaPresident and Chief Executive Officer

Skurka leads WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF), driving strategy and growth. Under his leadership, WonderFi acquired Blockchain Foundry and Bitvo Inc., launched regulated staking for Bitbuy and Coinsquare, and expanded into Australia. In 2023, he orchestrated the three-way merger with Coinsquare and CoinSmart, establishing WonderFi as Canada’s market leader with over 1.6 million client accounts and $1.35 billion in assets. He previously headed exchanges at WonderFi and served as President of Bitbuy Holdings Inc., where he led its $200 million acquisition by WonderFi.

Cong LyChief Technology Officer

Ly oversees WonderFi’s technology strategy. With extensive experience in fintech, blockchain, and distributed computing, he previously led technology at First Coin Capital, acquired by Galaxy Digital.

Torstein BraatenHead of Regulatory Affairs and Chief Compliance Officer

Braaten manages regulatory affairs and compliance at WonderFi. He also oversees compliance for Bitbuy and Coinsquare, both regulated platforms. He has three decades of experience, including roles at Instinet Canada, BMO Capital Markets, and TriAct Canada Marketplace.

Gordon BrocklehurstChief Financial Officer

Brocklehurst, a Chartered Professional Accountant, manages WonderFi’s financial operations. With over 30 years of experience in corporate finance, M&A, and compliance, he has served in senior roles in both private and public markets, including the TSX and NYSE. Brocklehurst began his career at KPMG and holds an honors degree in economics from York University.

RECAP: 7 Key Reasons

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) Stands Out

WonderFi Labs Launch: Focuses on decentralized technologies, including the upcoming WonderFi L2 blockchain and WonderFi Wallet.

PBTC and ETH Treasury: Holds US$3.85 million in BTC and ETH to hedge against fiat inflation.

Coinsquare Alpha: Enhanced trading functionality and services for institutions launched in June 2024.

APAC Expansion: Launching OTC trading in Australia, the leader in digital currency adoption.

Platform Consolidation: Acquired Bitbuy’s client accounts, becoming the largest CIRO-regulated platform in Canada.

Financial Performance: Record Q1 2024 revenue of $18.5 million and substantial net income.

Ongoing Developments: Strategic acquisitions and a mobile app refresh planned for Q4 2024.

As we’ve highlighted, the digital currency landscape is undergoing a revolution.

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is leading the charge with its innovative WonderFi Labs, strategic APAC expansion, and robust financial performance.

With WonderFi’s innovative wallet technology and strategic expansion into high-potential markets, the company is set to capture market share in the digital currency market.

Stay ahead of the curve and watch what WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) achieves next.

Disclaimer

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footnotes:
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Except as required by law, WonderFi Technologies Inс. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does WonderFi Technologies Inс. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither WonderFi Technologies Inс. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of WonderFi Technologies Inс. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of WonderFi Technologies Inс. or such entities and are not necessarily indicative of future performance of WonderFi Technologies Inс. or such entities.

8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.

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Emerging Giants in the APAC Digital Currency Rush

WonderFi Labs: Pioneering the Next Era of Digital Finance

Press Releases

SUBSCRIBE FOR TRADING INSIGHTS AND ALERTS. STAY AHEAD.

WonderFi’s Portfolio of Market-Leading Brands

WonderFi’s Financial Success: A Story of Growth and Strategy

Q1 & Q2 2024 Earnings: Breaking Records

BTC and ETH Treasury Program

Strong FY 2023 Performance: Building a Robust Foundation42

Strategic Costs and Growth: Investing in the Future

Ongoing Developments and Milestones

WonderFi Technologies’ Strong Leadership Team

SUBSCRIBE FOR TRADING INSIGHTS AND ALERTS. STAY AHEAD.

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More News From This Company

WonderFi Technologies Inc.

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Strong FY 2023 Performance: Building a Robust Foundation⁴²

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