Expected to Go Live in Q1 2023 through Integration with Alpaca
Toronto, Ontario--(Newsfile Corp. - September 29, 2022) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (FTX: WNDR) (the "Company" or "WonderFi") subsidiary Bitbuy Technologies Inc. ("Bitbuy") today announced its partnership with AlpacaDB, Inc. ("Alpaca"), which will enable Bitbuy to offer its users fractional trading and investing in thousands of US stocks and exchange traded funds (ETFs), in an integrated experience within the existing Bitbuy platform.
Bitbuy will utilize Alpaca's Broker API which will provide Bitbuy customers with real-time fractional trading and instant settlement. Bitbuy stock trading will be offered in conjunction with Alpaca and brokerage services through a leading Canadian investment bank and IIROC member. WonderFi's banking partner will route, execute, clear and custody all customer accounts and trades. Bitbuy stock trading is expected to go live in Q1 2023 and the official launch date will be announced prior to.
WonderFi CEO Ben Samaroo commented: "Providing seamless access to stock trading makes Bitbuy the first platform in Canada to offer a full suite of crypto trading as well as fractional trading of US equities with real-time settlement. This is in furtherance of our goal of making users' lives easier and bringing key asset classes within our easy-to-use, regulated platforms."
"Alpaca is always about opening financial services access globally, now with partners in more than 25 countries. This partnership with WonderFi accelerates our mission, and I am very excited that Alpaca's infrastructure will support the service to people in Canada, where many of our employees reside," said Yoshi Yokokawa, Co-Founder and CEO of Alpaca.
WonderFi Strategic Investor Kevin O'Leary added, "This is an excellent move for WonderFi and Bitbuy - Alpaca is an excellent partner to team up with on the launch of Bitbuy Stocks. Stock trading through Bitbuy promises to be extremely efficient, low cost and innovative in the Canadian market."
To join Bitbuy's wait-list and learn more about the upcoming launch, please sign up here: www.bitbuy.ca/stocks.
For additional information, please contact:
WonderFi Technologies Inc.
Ben Samaroo, CEO
Investor Relations Contact: email@example.com
Binu Koshy, Communications Director
Alpaca is a developer-first embedded financial technologies platform that's raised over $70m in funding. Alpaca offers crypto and stock trading, real-time market data, and end-to-end brokerage infrastructure through modern APIs. Alpaca is backed by top investors in the industry globally including Portage Ventures, Spark Capital, Social Leverage, Tribe Capital, Horizons Ventures, Eldridge, Positive Sum, Elefund, and Y Combinator. Securities are offered by Alpaca Securities LLC. Crypto services are offered by Alpaca Crypto LLC. To learn more about Alpaca, please visit https://alpaca.markets.
WonderFi is a leading technology company with the mission of creating better, unified access to digital assets through centralized and decentralized platforms. WonderFi's executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital and Hut 8. WonderFi's core team of engineers and technologists believe that everyone should have equal access to finance, and are aligned in the mission to empower people around the world to access finance in a simple, smart and secure way. For more information, visit www.wonder.fi.
Forward-Looking Information and Statements
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 ability of the Company to meet its expected go-live timing and effect stock trading, any regulatory or other approvals 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. 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 June 30, 2022, 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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