Feb 3, 2022 Jay Jackson

Decentralized Finance Space Heats up With Launch of World’s First DeFi ETF

 

The decentralized finance (DeFi) space is continuing to heat up, with the world’s first ever exchange traded fund (ETF) launching this month. Hashdex, a Brazilian asset manager, is launching an ETF fund in collaboration with CF Benchmarks to track 12 DeFi tokens. The Hashdex DeFi Index ETF will be listed on the Brazilian stock exchange on February 17, allowing investors to track a basket of projects in the DeFi space. DeFi markets have grown tremendously over the last year to become an $80 billion market in 2021, with more growth expected in 2022. This growth has attracted investors, giving companies in the space a massive opportunity for long-term growth. Among the companies poised to benefit from the growing adoption of digital currencies and DeFi are WonderFi Technologies Inc. (NEO: WNDR) (OTC:WONDF), Marathon Digital Holdings, Inc. (NASDAQ:MARA), Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), and Hut 8 Mining Corp. (NASDAQ:HUT). 

Leading technology company WonderFi Technologies Inc. (NEO: WNDR) (OTC:WONDF) has continued to grow its stake in the nascent DeFi space. Last month, the company announced the acquisition of Bitbuy Technologies, Canada’s first approved crypto marketplace and is already sharing positive results. On February 2, WonderFi announced that, despite volatility and a decline in the crypto markets, Bitbuy achieved an increase in new monthly deposits and higher marketplace coin volumes.

Bitbuy recorded a 29% increase in trading volumes for Ethereum in January 2022 compared to December 2021. Bitbuy listed an additional seven coins on its platform in December 2021, creating an additional $34 million in new value from these listings, and has plans to list additional crypto coins in Q1 2022. 

This new growth supports WonderFi’s thesis for acquiring Bitbuy, as the exchange model offers diverse revenue streams independent of the performance of the crypto market. According to WonderFi’s CEO, Ben Samaroo, “Platforms like Bitbuy thrive with market volatility”. 

“While the broader crypto markets declined in January 2022, Bitbuy continued to experience robust inflows of new capital during the month through the Bitbuy platform, after proudly recording a 58% increase in new user registrations in Q4 2021 versus Q3,” said Michael Arbus, CEO of Bitbuy. 

WonderFi, which is backed by strategic investors such as Alameda Research and FTX’s Sam Bankman-Fried, Shark Tank’s Kevin O’Leary, and Gen-Z influencer and investor Josh Richards, just launched the WonderFi app last week. Through the WonderFi app, users can buy assets, earn interest and gain broad exposure to the $80 billion DeFi market.

For more information about WonderFi Technologies Inc. (NEO: WNDR) (OTC:WONDF), click here.

Crypto Companies Continue to Tap Value from the Growing Crypto and DeFi Markets

Leading bitcoin self-mining company Marathon Digital Holdings, Inc. (NASDAQ:MARA) has appointed Ashu Swami as the Chief Technology Officer. Following his appointment, Swami will be responsible for overseeing and expanding Marathon’s technical operations. He will also be responsible for ensuring that the organization meets rigorous security measures. Swami brings a wealth of experience in technical, regulatory, and market expertise from years of working with companies such as Core Scientific (as the chief product officer) and Apifiny (as the CTO). He has also been involved in blockchain and DeFi projects. 

Technology-driven Payment Service Provider (PSP) Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) is continuing to advance its mission of making traditional finance accessible through digital payment infrastructure and digital asset management technologies. On January 19, the company signed an agreement to provide KEYS Token with its on-ramp services. Under the agreement, Mobilum will provide KEYS with an easy-to-use fiat-to-crypto gateway, giving its users the ability to purchase KEYS Token using Visa, Mastercard, debit and credit cards, powered by Mobilum’s industry leading on-ramp. 

On January 12, Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), which is one of the fastest growing crypto platforms in the US, announced the addition of Tim Mund as Head of US Payment Sales. In the newly created role, Mund will be responsible for the sales and go-to-market strategy for Voyager’s payment solutions. He will also be building the customer pipeline with payment service providers (PSPs) and key merchants to integrate the company’s technology with their payment networks and systems.

Hut 8 Mining Corp. (NASDAQ:HUT), one of North America’s digital assets mining companies, announced plans to acquire the data center business from TeraGo. In the agreement, Hut 8 Mining will acquire five data centers across Canada Once completed, positioning the company as a leader in high-performance computing platforms. The acquisition will also help the company to diversify its profile and revenues. The company will acquire the data center business as well as employees and customers as part of the transaction. 

As the crypto and DeFi markets continue to expand, companies like WonderFi have a massive opportunity to diversify their income and deliver value to customers and investors through innovation in the space.

[BONUS-POPUP id=”1″]

Please See Disclaimer

Featured Image: DepositPhotos @ urban_light

STOCKS YOU MAY LIKE


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, WonderFi Technologies Inc. Market Jar Media Inc. has or expects to receive from WonderFi Technologies Inc’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred and fifty eight thousand four hundred CAD for 38 days (28 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on MicroSmallCap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on MicroSmallCap.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding WonderFi Technologies Inc’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to WonderFi Technologies Inc’s industry; (b) market opportunity; (c) WonderFi Technologies Inc.’s business plans and strategies; (d) services that WonderFi Technologies Inc. intends to offer; (e) WonderFi Technologies Inc’s milestone projections and targets; (f) WonderFi Technologies Inc’s expectations regarding receipt of approval for regulatory applications; (g) WonderFi Technologies Inc’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) WonderFi Technologies Inc’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute WonderFi Technologies Inc’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) WonderFi Technologies Inc’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) WonderFi Technologies Inc’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) WonderFi Technologies Inc’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of WonderFi Technologies Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) WonderFi Technologies Inc’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact WonderFi Technologies Inc’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing WonderFi Technologies Inc’s business operations (e) WonderFi Technologies Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, WonderFi Technologies Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does WonderFi Technologies Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither WonderFi Technologies Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of WonderFi Technologies Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of WonderFi Technologies Inc. or such entities and are not necessarily indicative of future performance of WonderFi Technologies Inc. or such entities.