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Bitbuy Broadens Staking Services to Include Cardano (ADA) as 42% of Active Users Embrace Crypto Staking

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[DATELINE] WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the “Company” or “WonderFi“), through its subsidiary Bitbuy Technologies Inc. (“Bitbuy“), is excited to announce the addition of Cardano (ADA) to its on-chain staking offerings. Alongside Ethereum (ETH), Solana (SOL), Polygon (MATIC), and Polkadot (DOT), the inclusion of Cardano (ADA) represents the most tokens available to be staked on any Canadian registered crypto-trading platform.

Since its inception on November 28, 2022, Bitbuy Staking has experienced remarkable adoption from crypto investors with more than 42% of monthly active Bitbuy users currently engaging in crypto staking. The platform currently boasts substantial staking numbers, with approximately 17% of ETH, 43% of SOL, 56% of MATIC, and 54% of DOT client assets now being staked.

“We are excited to introduce Cardano staking to our platform, providing our valued users with an even greater selection of staking options,” said WonderFi President and Interim CEO, Dean Skurka. “Being one of only three registered platforms to offer staking, Bitbuy has seen a meteoric rise in investors looking to stake their crypto. In just the past two weeks alone we’ve seen a 15% increase in total Canadian dollars being staked. Further evidence that investors are looking for new and innovative ways to generate modern wealth.”

Bitbuy uses BitGo Trust Company, Inc. (“BitGo“) to custody all staked assets at a 1:1 ratio. BitGo, one of the world’s largest crypto custodians, has reported over $64 billion USD in assets under custody. Figment Inc. provides Bitbuy’s clients with the ability to stake their assets with a trusted partner, boasting 200+ clients and billions of dollars of assets already staked to their validators.

“At BitGo, we are proud to support Bitbuy in offering on-chain staking of Cardano to further expand their staking offerings,” said BitGo COO, Chan Feng. “With our shared focus on security and commitment to compliance, we look forward to continuing our partnership with Bitbuy and working together to bring the benefits of crypto to a wider audience.”

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To learn more about how you can earn up to 10% rewards just for staking your crypto, visit https://bitbuy.ca/staking.

Additional Information

For additional information, please contact:

President and Interim CEO
Dean Skurka
[email protected]

Media / Investor Relations
Binu Koshy, Communications Director
[email protected]

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ABOUT WONDERFI

WonderFi is a leading technology company with the mission of creating better, unified access to digital assets through its two Canadian owned and operated, fully registered crypto-trading platforms Bitbuy and Coinberry. Bitbuy is Canada’s first registered digital asset marketplace, boasting over 450,000 registered users, and serving both beginner and advanced traders, institutions, and corporate clients. Coinberry, with a user base of over 200,000, is designed for crypto novices and retail traders. Going forward, WonderFi is dedicated to providing its users with access to new regulated verticals designed to generate modern wealth. To learn more about WonderFi, please visit www.wonder.fi.

ABOUT BITGO

BitGo is the leader in digital asset custody and security solutions. Founded in 2013, BitGo pioneered the multi-signature wallet and is the first digital asset company to focus exclusively on serving institutional clients. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets and established BitGo New York Trust in 2021. In 2022, BitGo launched institutional-grade DeFi, NFT and web3 services. BitGo secures approximately 20% of all on-chain Bitcoin transactions by value and supports more than 700 digital assets within its platform. BitGo provides the security and operational backbone for more than 1500 institutional clients in 50 countries, including many regulated entities and the world’s top cryptocurrency exchanges and platforms. For more information, please visit www.bitgo.com.

Forward-Looking Information and Statements

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This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, or variations of such words.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the types of coins that will be supported in Bitbuy Staking, the ability to earn and pay rewards, any additional regulatory or other approvals which may further become required in connection therewith, the ability of the Company to work effectively with its partners and changes in general economic, business and political conditions. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. While crypto asset trading platforms that operate in Canada are required to comply with Canadian securities law requirements, registration cannot eliminate all risks associated with crypto asset trading. Investors may wish to seek advice from a registered investment advisor about investing. A more fulsome description of risk factors that may impact our business, financial condition and results of operation is set out in our management’s discussion and analysis and financial statements for the for the period ended March 31, 2023, as well as our annual information form, available on SEDAR.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168384

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

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Blockchain

Alpha Sigma Capital Research Releases May Report on ASC AI Index

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Blockchain

Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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