Decentralized Finance Space Heats up With Launch of World's First DeFi ETF
FN Media Group Presents Microsmallcap.com Market Commentary
NEW YORK, Feb. 2, 2022 /PRNewswire/ -- The decentralized finance (DeFi) space is continuing to heat up, with the world's first ever exchange traded fund (ETF) launching this month. Hashdex, a Brazilian asset manager, is launching an ETF fund in collaboration with CF Benchmarks to track 12 DeFi tokens. The Hashdex DeFi Index ETF will be listed on the Brazilian stock exchange on February 17, allowing investors to track a basket of projects in the DeFi space. DeFi markets have grown tremendously over the last year to become an $80 billion market in 2021, with more growth expected in 2022. This growth has attracted investors, giving companies in the space a massive opportunity for long-term growth. Among the companies poised to benefit from the growing adoption of digital currencies and DeFi are WonderFi Technologies Inc. (NEO:WNDR) (OTCPK:WONDF), Marathon Digital Holdings, Inc. (NASDAQ:MARA), Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), and Hut 8 Mining Corp. (NASDAQ:HUT).
Leading technology company WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF) has continued to grow its stake in the nascent DeFi space. Last month, the company announced the acquisition of Bitbuy Technologies, Canada's first approved crypto marketplace and is already sharing positive results. On February 2, WonderFi announced that, despite volatility and a decline in the crypto markets, Bitbuy achieved an increase in new monthly deposits and higher marketplace coin volumes.
Bitbuy recorded a 29% increase in trading volumes for Ethereum in January 2022 compared to December 2021. Bitbuy listed an additional seven coins on its platform in December 2021, creating an additional $34 million in new value from these listings, and has plans to list additional crypto coins in Q1 2022.
This new growth supports WonderFi's thesis for acquiring Bitbuy, as the exchange model offers diverse revenue streams independent of the performance of the crypto market. According to WonderFi's CEO, Ben Samaroo, "Platforms like Bitbuy thrive with market volatility".
"While the broader crypto markets declined in January 2022, Bitbuy continued to experience robust inflows of new capital during the month through the Bitbuy platform, after proudly recording a 58% increase in new user registrations in Q4 2021 versus Q3," said Michael Arbus, CEO of Bitbuy.
WonderFi, which is backed by strategic investors such as Alameda Research and FTX's Sam Bankman-Fried, Shark Tank's Kevin O'Leary, and Gen-Z influencer and investor Josh Richards, just launched the WonderFi app last week. Through the WonderFi app, users can buy assets, earn interest and gain broad exposure to the $80 billion DeFi market.
For more information about WonderFi Technologies Inc. (NEO:WNDR) (OTC:WONDF), click here.
Crypto Companies Continue to Tap Value from the Growing Crypto and DeFi Markets
Leading bitcoin self-mining company Marathon Digital Holdings, Inc. (NASDAQ:MARA) has appointed Ashu Swami as the Chief Technology Officer. Following his appointment, Swami will be responsible for overseeing and expanding Marathon's technical operations. He will also be responsible for ensuring that the organization meets rigorous security measures. Swami brings a wealth of experience in technical, regulatory, and market expertise from years of working with companies such as Core Scientific (as the chief product officer) and Apifiny (as the CTO). He has also been involved in blockchain and DeFi projects.
Technology-driven Payment Service Provider (PSP) Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) is continuing to advance its mission of making traditional finance accessible through digital payment infrastructure and digital asset management technologies. On January 19, the company signed an agreement to provide KEYS Token with its on-ramp services. Under the agreement, Mobilum will provide KEYS with an easy-to-use fiat-to-crypto gateway, giving its users the ability to purchase KEYS Token using Visa, Mastercard, debit and credit cards, powered by Mobilum's industry leading on-ramp.
On January 12, Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), which is one of the fastest growing crypto platforms in the US, announced the addition of Tim Mund as Head of US Payment Sales. In the newly created role, Mund will be responsible for the sales and go-to-market strategy for Voyager's payment solutions. He will also be building the customer pipeline with payment service providers (PSPs) and key merchants to integrate the company's technology with their payment networks and systems.
Hut 8 Mining Corp. (NASDAQ:HUT), one of North America's digital assets mining companies, announced plans to acquire the data center business from TeraGo. In the agreement, Hut 8 Mining will acquire five data centers across Canada Once completed, positioning the company as a leader in high-performance computing platforms. The acquisition will also help the company to diversify its profile and revenues. The company will acquire the data center business as well as employees and customers as part of the transaction.
As the crypto and DeFi markets continue to expand, companies like WonderFi have a massive opportunity to diversify their income and deliver value to customers and investors through innovation in the space.
DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLC