WonderFi Technologies Inc. and Eightcap Announce Letter of Intent to Offer Multi-Asset Trading for Bitbuy and Coinsquare

Rhea-AI Summary

WonderFi Technologies (TSX: WNDR) (OTCQB: WONDF) has signed a non-binding Letter of Intent (LOI) with Eightcap to expand trading offerings on its Bitbuy and Coinsquare platforms. The partnership will enable WonderFi's 1.7 million registered users to access CFD trading across multiple asset classes including forex, indices, commodities, and selected stocks.

Through Eightcap's Trading-as-a-Service solution 'Embedded', users will be able to trade CFDs without owning underlying assets, with potential profits in both bullish and bearish markets. Eightcap will serve as the trading technology and liquidity provider for both platforms in Canada and Australia.

The implementation is expected in H2 2025, subject to definitive agreements and regulatory approvals in both jurisdictions. This first-of-its-kind partnership in Canada aims to bridge DeFi and TradFi, offering users a comprehensive trading ecosystem within their existing platforms.

Positive

• First-of-its-kind CFD trading offering in Canada
• Access to new revenue streams through diversified trading products
• Large existing user base of 1.7M registered users
• No finder's fees or third-party payments required

Negative

• Non-binding LOI - deal not yet finalized
• Launch delayed until H2 2025
• Subject to regulatory approvals in two jurisdictions

Through Eightcap, Bitbuy and Coinsquare intend to expand their offering by giving users access to popular financial markets - including Equities, Indices, Commodities, and FX

The offering is subject to entering into definitive agreements and regulatory approvals in both Canada and Australia, with an expected go live date in H2 2025.

Toronto, Ontario--(Newsfile Corp. - March 5, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi"), a global leader in centralized and decentralized financial services and products, announced today that it has entered into a non-binding Letter of Intent ("LOI") to form a new partnership with Eightcap and Embedded, its market-leading Trading-as-a-Service ("TaaS") solution.

This collaboration aims to give users on WonderFi's wholly owned crypto trading platforms, Bitbuy and Coinsquare, access to derivatives across a wide range of popular financial markets, including foreign exchange, major indices, oil, metals, and a curated selection of individual stocks.

These products will be offered as contracts for difference ("CFDs"), which are regulated over-the-counter derivatives that allow users to speculate on asset price movements without owning the underlying assets, offering flexibility to profit in both rising and falling markets. Eightcap will act as the trading technology and liquidity provider for Bitbuy and Coinsquare, enabling these offerings in Canada and for Bitbuy APAC in Australia.

The partnership leverages Embedded, a TaaS solution powered by Eightcap that will bring seamless multi-asset trading to Bitbuy and Coinsquare's growing userbase, to enable the offering of CFDs in both Canada and Australia. With a focus on speed and efficiency, the integration of Eightcap's Embedded technology is designed to be fast to market and straightforward, ensuring a smooth trader experience. It is proposed that Eightcap will also manage liquidity and settlement, ensuring a seamless interaction with these new markets for Bitbuy and Coinsquare users.

Dean Skurka, CEO of WonderFi, expressed his enthusiasm for the partnership: "We're incredibly excited to partner with Eightcap with a view to offering multi-asset trading to our 1.7 million registered users. The execution of this LOI marks a significant step forward, setting out a framework that we believe will empower our users with greater access to global financial markets, all within the trusted ecosystems they already know and love. By diversifying and widening the trading opportunities for our users, we aim to make Bitbuy and Coinsquare the go-to destination for all of their trading needs."

Patrick Murphy, Chief Commercial Officer of Eightcap, added: "We're thrilled to add WonderFi to our growing list of Embedded partners. This collaboration is another major step forward in bridging decentralized finance (DeFi) and traditional finance (TradFi). It will allow crypto traders to seamlessly trade both crypto and TradFi assets in a secure and regulated setting. As the first of its kind in Canada, we expect this partnership to drive innovation and offer unmatched flexibility for traders."

By combining Bitbuy and Coinsquare's active and loyal user bases with Eightcap's expertise in derivatives trading, this partnership aims to enhance the trading options available to Canadian and Australian users while maintaining the high standards of reliability and security both companies are known for. The rollout of these new offerings is expected in H2 2025, and is subject to entering into definitive agreements in respect of the partnership and relevant regulatory approvals in both jurisdictions. This venture is expected to further solidify WonderFi's position as a leader in the fintech and digital asset space.

This partnership was independently sourced by WonderFi, and no finder's fees or similar third-party payments are or will be incurred in connection with this agreement.

About Eightcap

Founded in 2015, Eightcap is a leading fintech company providing a range of B2C and B2B solutions within its dynamic trading ecosystem. As a globally regulated derivatives broker, Eightcap is award-winning having been voted the Best Global CFD Broker by TradingView in 2024.

Embedded powered by Eightcap is a Trading-as-a-Service (TaaS) solution allowing its partners to seamlessly offer derivative products through their own platforms. For more information, visit www.eightcap.com or email embedded@eightcap.com.

About WonderFi

WonderFi is a global leader in centralized and decentralized financial services and products.

With over $2.4 billion in client assets under custody, WonderFi's regulated trading platforms are well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications.

Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay and Tetra Trust.

As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.

For more information, visit www.wonder.fi.

Additional Information
For additional information, please contact:
Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control, including, specifically, the entering into of definitive agreements in respect of the partnership, the receipt of regulatory approvals in respect thereof, the timing of launch and the expected benefits of the partnership. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions, including that it will enter into definitive agreements in respect of the partnership, receive required regulatory approvals, launch within H2 2025, and that the Company's clients will trade in CFDs and that the partnership will have a positive impact on the business of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking financial information and statements are the following: the parties being unable to come to terms in respect of definitive agreements governing the partnership, the parties being unable to receive regulatory approvals, taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada, Australia and other jurisdictions in which the Company carries on business or in which the Company or partnership may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation; decisions to modify, pause or discontinue certain treasury management strategies; the Company's and the partnership's ability to provide a competitive service within the regulated crypto asset trading platform industry; the Company's and the partnership's ability to manage its capital and non-capital expenses; the Company's clients not trading in CFDs and the CFD market not maturing or growing as expected. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended September 30, 2024, available on its SEDAR+ profile at www.sedarplus.ca.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243360

FAQ

When will WonderFi (WONDF) launch CFD trading on Bitbuy and Coinsquare platforms?

The CFD trading launch is expected in H2 2025, pending regulatory approvals in Canada and Australia.

What new trading products will be available through WonderFi's (WONDF) partnership with Eightcap?

Users will gain access to CFD trading across forex, indices, commodities, metals, and selected stocks.

How many registered users will benefit from WonderFi's (WONDF) new CFD trading features?

The new trading features will be available to WonderFi's 1.7 million registered users across Bitbuy and Coinsquare platforms.

What role will Eightcap play in WonderFi's (WONDF) new trading offering?

Eightcap will provide trading technology and liquidity services through its 'Embedded' TaaS solution, managing liquidity and settlement.