- WonderFi (TSX:WNDR) subsidiary Bitbuy Technologies Inc. is proposing to purchase all client accounts of Simply Digital Technologies Inc.
- Bitbuy will purchase and assume all of CoinSmart’s rights, title, and interest in, as well as any and all obligations associated with the servicing of its client accounts
- The company wants to realize cost synergies and operational efficiencies while offering more services, offering CoinSmart users access to exclusive Bitbuy services, like crypto staking
- WonderFi Technologies Inc. last traded at $0.15 per share
WonderFi (TSX:WNDR) subsidiary Bitbuy Technologies Inc. is proposing to purchase all client accounts of Simply Digital Technologies Inc.
The transaction will be carried out through an asset purchase agreement, where Bitbuy will purchase and assume all of CoinSmart’s rights, title, and interest in, as well as any and all obligations associated with the servicing of its client accounts. The company expects this transaction will close before the end of the month.
This is part of WonderFi’s plan to enhance the trading experience for its users after the initial acquisition of CoinSmart Financial Inc.
The company wants to realize cost synergies and operational efficiencies while offering more services, offering CoinSmart users access to exclusive Bitbuy services, like crypto staking.
“This consolidation is part of our company strategy to streamline our operations and realize significant cost savings,” WonderFi’s president and CEO, Dean Skurka, said in a news release. “As we continue to execute, we are getting closer to our goal of achieving profitability across the company.”
WonderFi Technologies Inc. is a technology company with the mission of creating unified access to digital assets through centralized and decentralized platforms.
WonderFi Technologies Inc. last traded at $0.15 per share and is up 7.1 per cent year to date.
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