The Canadian cryptocurrency service provider WonderFi Technologies Inc. (TSX: WNDR) has announced its registration with the Securities and Exchange Commission (SEC) in the United States, to have its common shares listed on NASDAQ.
Notably, this move marks the beginning of an international expansion by the Toronto-based multi-services crypto firm. According to a press release shared by Yahoo Finance on October 6:
“[This ] registration with the SEC is an important first step for WonderFi as we look to expand the company’s presence to the United States.”
— Dean Skurka, President and Chief Executive Officer of WonderFi
Interestingly, WonderFi owns four cryptocurrency service provider companies and is a major shareholder of Tetra, a leading Canadian digital asset custodian. This results in a collective user base of over 1.6 million registered Canadians and combined assets under custody exceeding $730 million.
Of the four wholly-owned companies by WonderFi, three are among Canada‘s most relevant registered crypto trading platforms: Bitbuy, Coinsquare, and Coinsmart. Besides the three centralized exchanges, WonderFi also owns SmartPay, a global crypto payment processing platform.
WNDR price analysis
Meanwhile, WNDR stocks are already been traded on the Toronto Stock Exchange at $0.13 CAD per share by press time. Despite registering losses of 7% year-to-date, WNDR is up 4% in the last 24 hours, following the new expansion strategy and SEC registration.
Therefore, the stock market is already optimistic about WonderFi’s new plans, showing that investors believe this move will bring additional value to the company’s shareholders.
However, a listing registration does not guarantee that it will be approved. It is widely known that the United States SEC has been directly acting against cryptocurrency exchanges and service providers in the U.S. Which means relevant challenges for this current strategy.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
