Kevin O’Leary-backed WonderFi to acquire Canadian crypto exchange Coinberry for $38.5M

Kevin O’Leary-backed WonderFi to acquire Canadian crypto exchange Coinberry for $38.5M

WonderFi TechnologiesPlans for, a platform for decentralized finance (DeFi), toKeep expanding it CanadaPurchase the Coinberry crypto exchange for $38 million. ThePlatform will be the second regulated crypto exchange under WonderFiOnce the acquisition is completed. 

TheFirm recently closed its acquisition Bitbuy’sParent company First Ledger Corp. for $162 million. InAn interview Kevin O’Leary mentioned that there will be “several more and even bigger” acquisitions that are on the way. 

O’LearyThe company also stated that it is competing on the global stage, but that it is doing so on a “regulated basis.” TheBillionaire said that the team is not taking risks and operates under regulated conditions. 

According to O’LearyCustomers of both platforms that were acquired will not experience any immediate changes. However, Shark TankStar also noted that WonderFiPlans toAdd features toEach platform. 

WithAcquisition of Coinberry, WonderFiTwo of the six regulated exchanges will be yours. Canada. Bitbuy, WonderFiAfter being licensed by The,’s most recent purchase was fully regulated Ontario Securities Commission(OSC). November 2021. OnOn the other hand, CoinberryAlso, registered in the OSC AugustLast year. 

ApartOnly four other platforms can be registered on top of the two exchanges forProvider crypto trading. TheseInclude Wealthsimple, CoinSmart, NetcoinsAnd Fidelity. 

Related: Mr. WonderfulPlans toYou can invest in mining stock stocks

Kevin O’LearyPreviously, it was a BitcoinLast year, a skeptic mentioned that he was skeptical cryptoHis gold portfolio is now outperformed by holdings. However, O’LearyIt was also mentioned that gold is Bitcoin(BTC), comparisons are not relevant as they are “two separate asset classes.” 

InExclusive interview with CointelegraphThe businessman compared BTC investment to investing in real estate. toIt is possible to invest in tech firms such as GoogleAnd Microsoft. According to O’LearyThese people are “investing” in software when they invest in these companies. O’LearyConsiders investing in cryptoIt is similar.