WonderFi mulls bringing derivatives trading to Canadian crypto exchanges Bitbuy, Coinsquare

Wonderfi is considering partnerships that would bring derivatives to its platforms, Bitbuy and Coinsquare, Canada and Australia.

Wonderfi Technologies Inc., based in Vancouver, explores a new partnership to provide discussions of derivatives on its Crypto, Bitbuy and Coinsquare platforms, in Canada And Australia.

The company revealed a March 5 press release That he entered a letter of intention not binding with the Australian broker eightcap and integrated, his trading solution as a service, which would give users of Bitbut and access to Coinsquare to derivatives, including foreign exchanges, indices, petroleum, metals and selected actions.

These products will be offered in the form of difference contracts, which are over-the-counter regulated derivatives, allowing users to speculate on the prices of asset prices without having the underlying assets, the press release said.

Eightcap will provide commercial technologies and liquidity for Bitbuy and Coinsquare, opening offers in Canada and for Bitbuy in Australia.

The CEO of Wonderfi, Dean Skurka, said that the collaboration marks a “not significant step, establishing a framework which, in our opinion, will allow our users to access global financial markets, all in the trusted ecosystems they know and already love.” The deployment of new products is expected at the end of 2025 because it is still awaiting final agreements and regulatory approvals.

In May 2024, Wonderfi announcement The consolidation of its trading platforms, Coinsquare and Bitbuy, making it the largest cryptographic trading platform in Canada regulated by the Canadian Investment Regulatory Organization.