TORONTO, CANADA, October 30 2023 - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) ("WonderFi" or the "Company") is excited to announce that its wholly-owned subsidiary, Bitbuy Technologies Inc. ("Bitbuy"), is offering Apple Pay for cryptocurrency purchases in Canada starting today. This gives customers an easy, secure and private way to pay in apps or on the web in Safari using their iPhone, iPad, or Mac.
Through this recent integration, Bitbuy users can securely use Apple Pay to acquire Bitcoin, Ethereum, and 37 other cryptocurrencies directly on the Bitbuy platform.
Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device. Every Apple Pay purchase is secure because it is authenticated with FaceID, Touch ID, or device passcode as well as a one-time unique dynamic security code.
"The introduction of Apple Pay underscores Bitbuy's dedication to streamlining a secure and private purchasing process for our users," notes WonderFi President and CEO Dean Skurka. "We understand the significance of providing a variety of payment options to meet the changing requirements of our current user base."
Bitbuy customers can now log in to their accounts on the web or mobile app, select 'Deposit CAD with card', then check-out with Apple Pay to fund their account. For the first month, there will be no fees charged by Bitbuy for customers who fund their account with Apple Pay.
Largest Selection of Funding Options in Canada
With over 900,000 registered Canadian users Bitbuy is one of the largest crypto-trading platforms in the country. The platform caters to both retail and advanced traders, as well as high-net-worth and institutional clients, providing them with comprehensive trading and staking services.
With the integration of Apple Pay, Bitbuy now offers more payment options in the Canadian market further enriching Bitbuy's existing range of funding choices, which includes Visa and MasterCard Debit, Wire Transfer and Interac e-Transfer.
For more information on Bitbuy, visit https://bitbuy.ca/.
WonderFi owns, operates, incubates, and invests across the global digital asset ecosystem. They own and operate two of Canada's most well-known and established crypto trading platforms Coinsquare and Bitbuy, as well as SmartPay, a global crypto payment processing platform. WonderFi is also the largest shareholder of Tetra, a leading Canadian digital asset custodian.
With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $800 million, WonderFi boasts one of the largest communities of crypto investors within a single regulated ecosystem in Canada.
For more information, visit www.wonder.fi.
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Media / Investor Relations
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" and "forward-looking statements" 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 beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") 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", "planned", "estimated", "soon", "potential", "anticipate" 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 inability of the Company to integrate successfully (including the retention of key employees) such that the anticipated benefits of the acquisitions of Coinsquare Ltd and CoinSmart Financial Inc. (the "Acquisition") are realized; the ability to realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact of the announcement or consummation of the Acquisition on relationships, including with regulatory bodies, employees, suppliers, customers, competitors and other key stakeholders; the inability of the Company to meet its expected revenue targets and revenue growth of SmartPay, each of which may be subject to market conditions and regulatory or other approvals which may be required in connection therewith; the ability of the Company to consolidate its registered crypto asset trading businesses under Coinsquare's Canadian Investment Regulatory Organization investment dealer registration, including obtaining requisite regulatory approvals in connection therewith; the inability to maintain current levels of user growth due to competition and cyclical market conditions; the inability of the Company to work effectively with strategic investors and partners, and any changes to key personnel; security and cybersecurity threats and hacks; internet and power disruptions; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; the COVID-19 pandemic; climate change; currency risk; changes in or enforcement of national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada, the United States, Europe and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. 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. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended March 31, 2023, as well as its annual information form and the joint management circular of WonderFi, Coinsquare and CoinSmart in respect of the Acquisition, available on its SEDAR profile at www.sedarplus.ca.
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. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.