WonderFi's Coinsquare Launches Enhanced Institutional Crypto Service Offering

Rhea-AI Summary

WonderFi Technologies has launched Coinsquare Alpha, an enhanced institutional crypto service aimed at professional OTC clients managing large crypto portfolios with trading volumes over $1,000,000 CAD per year. The service offers various features including improved trading functionality with fill-or-kill trading in 53 assets and over 1300 trading pairs, 24/7 API connectivity for automated trading execution, non-custodial OTC services for a wider range of digital assets, bespoke custody solutions with multi-signature security, and a transparent asset staking program with competitive fee rebates.

The launch comes at a critical moment for institutional interest in crypto, spurred by the recent success of the US spot Bitcoin ETF. Coinsquare Alpha aims to support the evolving needs of the Canadian institutional crypto market and drive further growth and adoption of digital assets.

Positive

• Launch of Coinsquare Alpha enhances WonderFi's institutional service offerings, targeting high-value clients.
• Offers improved trading functionality with fill-or-kill trading in 53 assets and over 1300 trading pairs.
• Provides 24/7 API connectivity for automated trading, improving efficiency for institutional clients.
• Non-custodial OTC services extend the range of tradable digital assets, including L1s, tokens, and NFTs.
• Bespoke custody solutions with multi-signature security offer increased asset protection.
• Launch aligns with growing institutional interest in crypto, particularly following the successful launch of the US spot Bitcoin ETF.

Negative

• Heavy reliance on market conditions and institutional interest, which can be volatile.
• Potential competition from other institutional crypto service providers offering similar features.
• Increased operational costs associated with offering bespoke custody solutions and API support.
• Regulatory risks associated with the crypto market that could impact service offerings and client interest.

Coinsquare Alpha is a service for professional OTC clients managing large crypto portfolios and trading volumes in excess of $1,000,000 CAD/yr

Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced the launch of Coinsquare Alpha, an institutional crypto offering servicing trading firms, advisors, asset managers and more.

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.

Coinsquare Alpha offers the following unique services:

Improved Trading Functionality: Trade on crypto benchmark fixing prices commonly relied upon by asset managers. Additionally, fill-or-kill trading in 53 assets and over 1300 trading pairs via Coinsquare's Request for Quote (RFQ) engine is now available with aggregated liquidity for institutional-sized trades.

API Connectivity: Connect directly to Coinsquare's electronic pricing system 24/7 via API to access quotes and trading execution programmatically. Receive white glove assistance for API integration, conformance testing and support.

OTC Services: Access new categories of digital assets with non-custodial trading of L1s, tokens and NFTs not listed on the Coinsquare platform via voice and chat trading. Coinsquare Alpha can provide USD and CAD liquidity for a wider range of assets.

Custody: Leverage bespoke custody solutions from qualified custodians, featuring multi-signature security with direct control and single name ownership of segregated custody accounts.

Staking for Institutions: Manage and oversee your asset staking program with transparency. Competitive fee rebates are available for larger staking commitments.

Robert De Jaray, Vice President of Sales and Trading at Coinsquare, shared his enthusiasm about the launch:

"With the launch of Coinsquare Alpha, we are reaching a pivotal moment in our mission to serve Canadian institutional crypto clients. Growing institutional interest in the crypto market, especially following the successful launch of the US spot Bitcoin ETF, highlights the timeliness and relevance of our offering. We are proud to support the evolving needs of the market and look forward to driving further growth and adoption of digital assets in Canada."

Coinsquare Alpha is officially launching today, and all institutional services are available by contacting the team on the website here.

About WonderFi

WonderFi owns and operates leading digital asset businesses in Canada. WonderFi is the holding company for Bitbuy and Coinsquare, two of Canada's largest crypto trading platforms and SmartPay, a crypto payment processing platform.

With a collective user base of over 1.7 million registered Canadians and a combined assets under custody exceeding $1.5 billion, WonderFi serves one of the largest crypto investor communities in Canada.

For more information, visit www.wonder.fi.

Media / Investor Relations

Charlie Aikenhead
Invest@wonder.fi

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212831

FAQ

What is Coinsquare Alpha?

Coinsquare Alpha is an enhanced institutional crypto service launched by WonderFi, catering to professional OTC clients with large crypto portfolios.

When was Coinsquare Alpha launched?

Coinsquare Alpha was launched on June 13, 2024.

What trading features does Coinsquare Alpha offer?

Coinsquare Alpha offers fill-or-kill trading in 53 assets and over 1300 trading pairs, along with aggregated liquidity for institutional-sized trades.

What API services are available with Coinsquare Alpha?

Coinsquare Alpha provides 24/7 API connectivity for automated trading execution and white glove assistance for API integration and support.

Does Coinsquare Alpha offer OTC services?

Yes, Coinsquare Alpha offers non-custodial OTC trading for a wider range of digital assets, including L1s, tokens, and NFTs.

What custody solutions does Coinsquare Alpha provide?

Coinsquare Alpha offers bespoke custody solutions featuring multi-signature security and direct control of segregated custody accounts.

Does Coinsquare Alpha support asset staking?

Yes, Coinsquare Alpha supports asset staking programs with transparency and offers competitive fee rebates for larger staking commitments.

Why is the launch of Coinsquare Alpha significant?

The launch signifies WonderFi's commitment to serving the growing institutional crypto market in Canada, particularly in light of recent developments like the US spot Bitcoin ETF.