Canadian fintech firm WonderFi Applied sciences, a pacesetter in centralized and decentralized monetary companies and merchandise, have introduced that it has entered right into a non-binding Letter of Intent (LOI) to type a brand new partnership with Eightcap and Embedded, its market-leading Buying and selling-as-a-Service (TaaS) resolution.
This collaboration goals to offer customers on WonderFi’s wholly owned crypto buying and selling platforms, Bitbuy and Coinsquare, entry to derivatives throughout a variety of common monetary markets, together with overseas trade, main indices, oil, metals, and a curated number of particular person shares.
These merchandise might be provided as contracts for distinction (CFDs), that are regulated over-the-counter derivatives that permit customers to invest on asset value actions with out proudly owning the underlying belongings, providing flexibility to revenue in each rising and falling markets. Eightcap will act because the buying and selling expertise and liquidity supplier for Bitbuy and Coinsquare, enabling these choices in Canada and for Bitbuy APAC in Australia.
The partnership leverages Embedded, a TaaS resolution powered by Eightcap that may deliver seamless multi-asset buying and selling to Bitbuy and Coinsquare’s rising userbase, to allow the providing of CFDs in each Canada and Australia. With a give attention to velocity and effectivity, the combination of Eightcap’s Embedded expertise is designed to be quick to market and easy, making certain a clean dealer expertise. It’s proposed that Eightcap can even handle liquidity and settlement, making certain a seamless interplay with these new markets for Bitbuy and Coinsquare customers.
Dean Skurka, CEO of WonderFi, stated, “We’re extremely excited to accomplice with Eightcap with a view to providing multi-asset buying and selling to our 1.7 million registered customers. The execution of this LOI marks a major step ahead, setting out a framework that we imagine will empower our customers with better entry to international monetary markets, all throughout the trusted ecosystems they already know and love. By diversifying and widening the buying and selling alternatives for our customers, we goal to make Bitbuy and Coinsquare the go-to vacation spot for all of their buying and selling wants.”
Patrick Murphy, Chief Industrial Officer of Eightcap, added, “We’re thrilled so as to add WonderFi to our rising record of Embedded companions. This collaboration is one other main step ahead in bridging decentralized finance (DeFi) and conventional finance (TradFi). It should permit crypto merchants to seamlessly commerce each crypto and TradFi belongings in a safe and controlled setting. As the primary of its type in Canada, we anticipate this partnership to drive innovation and supply unmatched flexibility for merchants.”
By combining Bitbuy and Coinsquare’s lively and constant consumer bases with Eightcap’s experience in derivatives buying and selling, this partnership goals to boost the buying and selling choices accessible to Canadian and Australian customers whereas sustaining the excessive requirements of reliability and safety each firms are recognized for. The rollout of those new choices is predicted in H2 2025, and is topic to getting into into definitive agreements in respect of the partnership and related regulatory approvals in each jurisdictions. This enterprise is predicted to additional solidify WonderFi’s place as a pacesetter within the fintech and digital asset area.
