Fresh after acquiring First Ledger Corporation, the parent of Bitbuy Technologies, WonderFi Technologies Inc (NEO: WNDR) launched its desktop application Tuesday.
Breaking Barriers: WonderFi is an end-to-end consumer platform for those seeking exposure to cryptocurrency and the emerging finance ecosystem of DeFi.
For context, DeFi, in automating market-making, borrowing, lending and exchanging without costly middlemen, has the potential to solve a lot of social issues that flow into finance.
“DeFi is the next generation of finance. It breaks down barriers that exist in traditional finance, and WonderFi is focused on making crypto and DeFi accessible to the masses,” WonderFi co-founder and CEO Ben Samaroo told Benzinga.
Samaroo’s outlining of WonderFi’s mission is precisely the reason he was able to tap famed investor Kevin O’Leary as an early backer.
“The potential is massive and we’re going to cut fees,” O’Leary said to Benzinga in a previous conversation. “I want to be a part of it.”
Curated Experience: Through the WonderFi app, users can buy assets, earn interest and get broad exposure to the space via index-type products.
In a statement, Samaroo said the “WonderFi App makes it easy for people to trade crypto through decentralized exchanges, earn interest on their crypto through staking or lending, and access DeFi indexes such as the DeFi Pulse Index, which provide broad exposure to the DeFi market in one click.”
This is the first product WonderFi has launched. It will lay the infrastructure upon which the company plans to expand its product portfolio.
Access And Utility: Collaboration and integration with existing finance platforms and ecosystems are necessary in moving the space forward, according to Samaroo.
“In addition to our app launch, we recently announced our acquisition of Bitbuy, Canada’s first licensed crypto marketplace, which is a big step forward in bridging the gap between centralized and decentralized financial services,” he said. “These types of acquisitions open up many opportunities and provide us with more tools and reach to carry out our mission.
Also, to reduce the opacity of emerging opportunities in finance, the firm said it partnered with Animal Capital to help younger generations think more critically about their money.
"Among my followers, I often hear the same feedback,” said Josh Richards, who co-leads Animal Capital alongside Griffin Johnson, Noah Beck, Marshall Sandman and Michael Gruen.
Teaching “concepts like cost price averaging or ‘averaging down’ and hedging can help keep young investors engaged and excited in the market.”
What’s Next: “We are actively exploring NFTs, gaming, and other opportunities which will fold into the WonderFi ecosystem and provide users with a seamless end-to-end experience.”
Click here to learn more about WonderFi’s newly launched application.
