Bitbuy Technologies has acquired all client accounts of Calgary-based Bitvo, marking a strategic move in the crypto-trading sector.
Previously almost acquired by FTX, Bitvo’s 17,000 client accounts, spanning retail and institutional, now join WonderFi’s growing ecosystem, which includes Bitbuy, Coinberry, Coinsquare, and CoinSmart. Unlike the collapsed FTX deal, Bitbuy’s acquisition focuses solely on client accounts, not assuming Bitvo’s operations or corporate liabilities.
WonderFi CEO Dean Skurka emphasizes the non-dilutive nature of the acquisition, anticipating immediate cash flow, increased scale, and a rapid payback period. With a combined user base of 1.6 million Canadians, WonderFi positions itself as a major player in the crypto space.
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