Feb 24, 2022 Stéphanie Bédard-Châteauneuf

The World’s Largest Asset Manager Is About to Enter Crypto Space

 

BlackRock, the world’s largest asset manager with $10 trillion in assets under management for institutions, is about to enter the crypto space. The New York-based company will soon allow its customers to trade crypto through its sophisticated Aladdin investment management platform. Of course, this isn’t the first time BlackRock has expressed interest in crypto. In December 2020, CEO Laurence Fink said that increasing search volume for “bitcoin” on the company’s website indicated growing legitimacy. In March 2021, one of BlackRock’s funds bought bitcoin futures. Then in January 2022, the company filed for a Blockchain and Tech exchange-traded fund that would own blockchain and crypto companies. Meanwhile, other Wall Street giants such as Goldman Sachs, Citibank, Bank of America and Morgan Stanley, started exploring bitcoin and digital currencies amid growing customer demand in 2021. Growing crypto demand benefits companies like WonderFi Technologies (NEO: WNDR) (OTC:WONDF), Coinbase Global, Inc. (NASDAQ:COIN), Bit Digital Inc (BTBT:NASDAQ), Bitfarms Ltd. (TSXV:BITF) (NASDAQ:BITF), and Mobilum Technologies (CSE:MBLM) (OTC:MBLMF).

Leading technology company WonderFi Technologies Inc. (NEO: WNDR) (OTC:WONDF) is continuing expansion through strategic partnerships and new divisions and products.

WonderFi recently announced a new division, WonderFi Interactive, as the company enters the gaming and play-to-earn market. The division will expand WonderFi’s product offering for play-to-earn gaming and NFTs, opening up a new channel and on-ramp for users into the WonderFi ecosystem of products and offerings. 

As part of the launch of the new division, WonderFi has signed a letter of intent to acquire Sun Machine Entertainment Inc., a game development studio responsible for the hit game franchise Go BIG!, a mobile game available on iOS and Android. WonderFi Interactive will also be developing new games through 2022 as part of its roadmap for bringing gamers and more users into the WonderFi ecosystem in the coming years.

The Sun Machine acquisition brings the action-packed mobile game Go BIG! Featuring Godzilla vs. Kong from Legendary Films, released in Q4 2021 on iOS and Android. The game has had 200,000+ downloads in both App Stores since then in North America and internationally. Those 190,000 users are now part of the WonderFi ecosystem. Future games and acquisitions will aim to expand the WonderFi user base within the ecosystem through gaming, NFTs, and other initiatives. 

On February 8, WonderFi announced that, in connection with the Bitbuy Technologies acquisition, Kogan.com Limited will offer marketing support to WonderFi and Bitbuy as a key step towards international expansion and user growth. Kogan.com is one of the world’s largest and most popular online retailers in Australia and New Zealand.

Kogan.com previously agreed to give marketing support for Bitbuy’s future launch in the Australian market. The company confirmed that it will support the combined company, which gives WonderFi reach to more than 3.3 million of active Kogan.com customers in Australia.

“The recent successful launch of the WonderFi App through wonder.fi, the historic success of Bitbuy’s centralized crypto trading platform, and the support of Kogan.com offers a tremendous opportunity for global Australian expansion,” said WonderFi CEO Ben Samaroo.

WonderFi announced the acquisition of Bitbuy Technologies, Canada’s first approved crypto marketplace, in January for approximately $206 million. The deal is expected to close in the first quarter of 2022, subject to WonderFi and Bitbuy shareholder approval.

Following significant volatility and decline in the crypto markets in December and January, Bitbuy Technologies achieved an increase in monthly new deposits and market coin volumes following significant volatility and decline in the crypto markets in December and January.

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

Crypto Companies Are Making Moves to Support Growth

Mobilum Technologies (CSE:MBLM) (OTC:MBLMF), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, just announced a partnership with the world’s fastest growing crypto app, Crypto.com. Mobilum will provide token liquidity services to Crypto.com using its algorithmic trading platform, as well as regular reporting including summaries and statistics of market activity.

Coinbase Global (NASDAQ:COIN) announced that it will release its fourth quarter and year 2021 shareholder letter, including financial results, on its Investor Relations website Thursday, February 24. In Q3 2021, the company saw its number of verified users grow to 73 million and retail Monthly Transacting Users (MTUs) were 7.4 million. Coinbase also announced $1.2 billion in net revenue in Q3, marking our third consecutive quarter of over $1 billion in net revenue.

Bit Digital Inc (BTBT:NASDAQ), a New-York based leading digital mining company with facilities across North America, has reiterated its proactive environmental record as state and federal policymakers evaluate crypto mining. The company will soon submit formal written testimony to the New York State Senate Standing Committees on Environmental Conservation, Energy and Telecommunications, and Internet and Technology. Bit Digital also announced plans to give similar information to certain members of Congress, following a request for information from the office of US Senator Elizabeth Warren and several of her colleagues.

On January 10, bitcoin self-mining company Bitfarms Ltd. (TSXV:BITF) (NASDAQ:BITF) provided a bitcoin purchase and treasury update. According to the release, Bitfarms purchased 1,000 BTC for US$43.2 million, increasing its BTC holdings 30% to more than 4,300. The company also recently expanded its management team to support its growth by hiring three executives for newly created positions.

With the acquisition of Bitbuy, WonderFi is on its way to become Canada’s largest end-to-end crypto service provider.

 

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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.