DeFi Needs to Be More Accessible for Greater Adoption
NEW YORK, Jan. 18, 2022 /PRNewswire/ -- Decentralized technologies are about to revolutionize the global financial system and its institutions. Decentralized Finance (DeFi) offers interesting potential to reduce costs and increase the speed of payments by eliminating friction in terms of technology, contracting and coordination between several parties. DeFi delivers on the promise of faster, better, and cheaper payments, but a number of hurdles need to be overcome, including regulatory, business and technical adoption of this nascent infrastructure. The sad reality is that most decentralized finance (DeFi) wallets and protocols are complicated to use, especially for newbies. That's where WonderFi Technologies Inc (NEO:WNDR) (OTCPK:WONDF) comes into play. The company's goal is to make the DeFi world more accessible and improve the user experience. DeFi Technologies (TSX:DEFI) (OTCPK:DEFTF), Coinbase Global (NASDAQ:COIN), Hive Blockchain Technologies (TSX:HIVE) (NASDAQ:HIVE), and DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTCQB:DMGGF) are also increasing DeFi functionalities.
WonderFi Technologies Inc (NEO:WNDR)(OTC:WONDF) is a technology company that provides individuals with access to financial services through DeFi. On January 4, WonderFi announced that it has entered into a definitive agreement to acquire First Ledger Corp., the parent company of Bitbuy Technologies Inc., a leading cryptocurrency platform and the first cryptocurrency market approved in Canada. The acquisition and integration will make WonderFi a leading end-to-end consumer platform for people seeking access to crypto and decentralized finance.
"The integration of WonderFi and Bitbuy is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto. A licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy's product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the Company," said WonderFi CEO Ben Samaroo.
In December, WonderFi acquired 100% of the issued and outstanding shares of Mena Software Ltd. (Crypto APIs), a data and wallet provider that serves customers such as Paypal, Ledger, Chainlink and Nexo.
Crypto APIs was founded in 2018 and is one of the leading providers of cryptocurrency and blockchain market data and tools that are used by a wide range of market players including businesses, wallets, stock exchanges and institutional investors. Crypto APIs is a trusted data authority providing secure and scalable data products for the crypto and DeFi industries.
"Data is the backbone of all financial markets, and is more difficult to obtain in the crypto and DeFi sectors due to the fragmentation of market data across different protocols and blockchains. WonderFi's acquisition of Crypto APIs will help us provide access to high-quality, comprehensive data in order to foster efficiency, transparency and growth in the sector, while directly integrating and supporting WonderFi's own products," added Samaroo.
For more information about WonderFi Technologies (NEO:WNDR) (OTC:WONDF), click here.
Strong Activity for Tech And Blockchain Companies
DeFi Technologies (TSX:DEFI) (OTC:DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, has entered into a business agreement to establish a preferred partnership relationship with SEBA Bank AG. SEBA is a fully integrated, FINMA-licensed digital asset banking platform providing a transparent, secure and easy-to-use bridge between digital and traditional assets. This industry-leading deal is unprecedented in the growing crypto ecosystem and will give DeFi Technologies, along with its wholly-owned subsidiary Valour Inc, another competitive advantage in this nascent space. In December, Valour, a digital asset ETP issuer, received the authorization to distribute its top 10 digital assets and top 5 DeFi ETPs.
Coinbase Global (NASDAQ:COIN), the largest cryptocurrency exchange in the United States, will launch a decentralized finance (DeFi) platform called Lend, which allows users to earn returns on stablecoins and access staking features or borrowing on the platform, despite threats from US Securities and Exchange (SEC). Coinbase will use the DeFi Compound Finance (COMP) protocol and its rates to generate returns for its Lend users. Coinbase says it will push DeFi to the masses by making it easier to access DeFi protocols and features through its user-friendly interface. In announcing the launch of Lend, Coinbase said that "Decentralized Finance (DeFi) is becoming one of the most popular use cases for blockchain technology," and that thanks to Lend, Coinbase is making "DeFi more customer friendly and accessible.
Hive Blockchain (TSX:HIVE) (NASDAQ:HIVE), a crypto mining company with facilities in Sweden, Iceland and Canada has agreed to make an investment of C$450,000 in Network Entertainment, Inc., an award-winning multimedia production company, to gain exposure to Network's emerging non-fungible token (NFT) business. Like cryptos in general, NFTs are a booming new market, recording $2.5 billion in transactions in the first half of 2021, down from just $13.7 million a year earlier. Numerous celebrities and content creators have taken part in the space. Hive is keen to explore the NFT space, and it sees great potential in what Network Entertainment has planned for its intellectual property (IP).
DMG Blockchain Solutions Inc. (TSX:DMGI) (OTCQB:DMGGF), a vertically integrated blockchain technology and cryptocurrency company respectful of the environment, announced in December the appointment of John M. Place as a new member of the Board of Directors. Mr. Place is a seasoned leader in business, law and compliance with an international track record of success in the public and private sectors. Additionally, DMG announced that General Manager Sheldon Bennett will be a virtual participant in the B. Riley Crypto Conference, which will be held live at the Kimpton Hotel Eventi in New York City on December 8, 2021.
WonderFi Technologies is committed to providing fair and equal access to DeFi and lowering barriers to entry for all. With the WonderFi app, anyone with a mobile phone can access DeFi, regardless of their background or industry experience.
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.
Media Contact:
FN Media Group, LLC
[email protected]
+1(561)325-8757
View original content:https://www.prnewswire.com/news-releases/defi-needs-to-be-more-accessible-for-greater-adoption-301462432.html
SOURCE Microsmallcap.com