Latest news with #Bitbuy
Arabian Post
03-06-2025
- Business
- Arabian Post
Robinhood's $200M Bitstamp Buy Signals Global Crypto Ambitions
Robinhood Markets Inc. has finalised its $200 million cash acquisition of Bitstamp, a Luxembourg-based cryptocurrency exchange, marking a significant step in its global expansion strategy. This move brings over 5,000 institutional clients and 50,000 retail users under Robinhood's umbrella, with a substantial portion of trading volume originating from institutional activities. The acquisition, initially agreed upon in June 2024, was completed without alterations to the deal's terms. Bitstamp, established in 2011, operates across multiple jurisdictions, including Luxembourg, the UK, Slovenia, Singapore, and the US. The exchange holds more than 50 active licenses and registrations, providing Robinhood with a robust regulatory framework to support its international crypto operations. Johann Kerbrat, General Manager of Robinhood Crypto, highlighted the strategic importance of the acquisition, stating that Bitstamp's established reputation and global presence would enhance Robinhood's ability to serve both retail and institutional investors. He emphasised that the integration of Bitstamp's services would facilitate Robinhood's expansion beyond the US market. ADVERTISEMENT This acquisition follows Robinhood's announcement on May 13 of its intent to acquire Canadian crypto firm WonderFi for approximately $179 million. WonderFi operates regulated platforms such as Bitbuy and Coinsquare, and the deal is expected to close in the second half of 2025, subject to regulatory approvals. The acquisition aims to strengthen Robinhood's presence in the Canadian market and expand its suite of crypto offerings. Robinhood's strategic acquisitions align with its broader goal of diversifying its services and increasing its footprint in the global financial market. The company's stock has experienced significant growth, reflecting investor confidence in its expansion plans and the potential of the cryptocurrency sector.
New York Post
29-05-2025
- Business
- New York Post
How to Buy Bitcoin in Canada: A beginner's guide to cryptocurrency
New York Post may be compensated and/or receive an affiliate commission if you click or buy through our links. Featured pricing is subject to change. In Canada, more people are exploring how to buy and sell Bitcoin, whether as a speculative asset, long-term investment, or gateway to the broader crypto economy. But for beginners, the process can seem complex — especially when trying to navigate platforms, regulations, and wallets. One of the first names to know is Best Wallet. The platform is positioning itself as a beginner-friendly option in the Canadian crypto space, allowing users to buy, sell, and hold Bitcoin securely. It also supports integration with self-custody wallets and claims to offer competitive fees and strong compliance protections. The world's first Bitcoin ATM was installed at a coffee house in Vancouver, British Columbia, Canada in 2013. Getty Images From popular apps like Shakepay and Bitbuy, to global exchanges like Binance Canada and Coinbase Canada, Canadians have more ways than ever to access the digital currency economy. Whether you're wondering how to buy Bitcoin in Canada with an e-Transfer, a TD Bank or RBC account, a credit card, or even PayPal, this guide explains what to know before getting started. How to buy crypto in Canada for beginners For Canadians, the easiest way to begin is by using a regulated crypto platform. These services let users fund their accounts in Canadian dollars and convert that balance into BTC — the ticker symbol for Bitcoin. 'There are two different regulatory regimes in Canada, both of which publish lists of registered businesses,' said Amber D. Scott, co-founder and chair of Outlier Solutions. 'This is a useful starting point for investors vetting companies.' Apps like Shakepay, Wealthsimple, Coinsquare, and Bitbuy are popular for beginners. These custodial platforms hold users' Bitcoin on their behalf and typically support funding through Interac e-Transfer, which remains the most widely used method to buy Bitcoin in Canada. In Canada, more people are exploring how to buy and sell Bitcoin, whether as a speculative asset, long-term investment, or gateway to the broader crypto economy. Getty Images Some platforms also allow purchases with a credit card, and a growing number — such as Coinbase Canada — offer limited support for buying Bitcoin in Canada with PayPal. Users banking with TD Bank or RBC can typically connect accounts or cards for direct deposit or transfer options, though compatibility varies by platform. More advanced users may choose non-custodial services like Best Wallet, Bull Bitcoin, or Beaver Bitcoin, which transfer Bitcoin directly to the user's private wallet rather than holding it in-platform. These services are registered with FINTRAC as money services businesses (MSBs) and are often favored by privacy-conscious buyers. For those not ready to hold crypto directly, Bitcoin ETFs are another option. Investors can buy Bitcoin ETF Canada listings through traditional brokerages, gaining exposure to BTC price movements without holding the asset itself. Still, owning Bitcoin through an app or ETF doesn't offer the same control as managing your own wallet. 'The idea of a blockchain and the associated crypto-assets… is that you hold crypto-assets yourself,' said Andreas Park, professor of finance at the University of Toronto. 'Only then can you use them as intended and access the services that they stand for.' A retail storefront in Toronto, Canada offering to accept Bitcoin — reflecting the growing accessibility of cryptocurrency beyond online platforms. REUTERS While platforms like Coinbase Wallet offer user-friendly ways to manage crypto privately, self-custody comes with serious responsibilities. 'With the ability to control assets come high risks,' Park said. 'If one loses the private key that controls the assets, one loses the assets.' What is Bitcoin? Bitcoin is a decentralized digital currency created in 2009. It allows users to send money directly to each other over the Internet without going through banks or governments. It runs on a blockchain—an open, distributed ledger that records every transaction. 'Bitcoin is the mother of all cryptocurrencies with a market capitalization of almost US$2 trillion and tens of millions of users,' said Alex Tapscott, an author and speaker on blockchain technologies. 'It functions like cash for the internet and a final settlement layer for the crypto-economy.' The Bitcoin price fluctuates significantly, attracting both investors and speculators alike. However, experts caution that BTC is not a risk-free asset. 'A Bitcoin is an entry in a distributed database, the Bitcoin network,' said Park. 'It is effectively a digital sticker… Buying Bitcoin is not 'investing,' it's speculation.' Bitcoin, a decentralized digital currency created in 2009, allows users to send money directly to each other over the Internet without going through banks or governments. REUTERS Still, Bitcoin remains one of the most widely held cryptocurrencies in the world. 'Bitcoin is digital gold for investors and a lifeline for many of the world's unbanked,' said Tapscott. Scott agrees, calling Bitcoin the most prominent cryptocurrency today. 'Bitcoin accounts for the majority of the market share of all virtual currencies,' she said. 'There is a really in-depth collection of resources updated regularly by Jameson Lopp at for anyone who wants to learn more.' Canadians can buy Bitcoin through apps, web platforms, and even buy-and-sell ATMs found in urban centers. These Bitcoin ATMs allow cash-based purchases but often charge higher fees than online exchanges. What is cryptocurrency? While Bitcoin is the most well-known digital currency, it's just one of thousands. 'Cryptocurrency is a relatively broad term used to capture a variety of different electronic or virtual currencies,' said Scott. 'In some cases, these can be secured by traditional assets like gold or fiat currencies — also called stablecoins or value-referenced cryptoassets.' Tapscott said the purpose of cryptocurrencies has expanded beyond simple money transfers. 'Cryptocurrencies attempt to build Internet-native money that can act as a store of value, unit of account, and peer-to-peer medium of exchange,' he said. 'But there are many other different types of digital assets beyond just 'currencies,' and each is important in its own way.' Beyond Bitcoin (BTC), there are utility tokens, stablecoins, and application-based assets that power decentralized apps on platforms like Ethereum. Are You Crypto Curious? How to start crypto trading today Best Wallet Download a trusted exchange app — Start by choosing a licensed crypto exchange. We recommend starting with the Best Wallet app, available for both iOS and Android. Create and verify your account — Sign up using your email, Google, or Apple ID. To complete registration, you'll need to verify your identity with a government-issued ID and enable two-factor authentication (2FA) for added security. Fund your account — Deposit money into your account by linking a bank account or credit card or even using gift cards. Choose an option that best fits your lifestyle. Buy your first cryptocurrency — Use the app's marketplace or swap tool to purchase crypto by entering the ticker symbol — like BTC for Bitcoin or ETH for Ethereum — and follow the prompts to complete the transaction. Choose how to store your crypto — Decide whether you'll keep your crypto in the exchange, move it to a digital wallet (hot wallet), or store it offline (cold wallet) for extra protection. LEARN MORE Some of these assets are used for gaming, digital identity, lending, and cross-border payments. 'My interest is in the technology — blockchain — and what it can be used for,' said Park. 'Essentially, a blockchain is a value transfer protocol that does not require a third party like a bank.' However, Park also warned about the proliferation of worthless tokens in the space. 'Many, many tokens have absolutely no genuine value proposition,' he said. 'Any muppet can create a token, attach a pretty sticker to it and waffle about 'community.' Don't get drawn into this nonsense.' Where to buy Bitcoin in Canada Canadians now have more access points than ever when it comes to buying crypto. Whether through Wealthsimple, Bitbuy, Shakepay, or Binance Canada, users can fund accounts using Canadian dollars and buy BTC through apps or web platforms. These custodial exchanges are regulated under Canadian securities laws and offer a convenient entry point. More advanced buyers often use Coinbase Wallet to move their BTC into private storage or explore decentralized apps. For those looking for alternatives, Bitcoin ETFs can be purchased through traditional brokerages — ideal for investors who don't want to manage crypto keys or navigate blockchain networks. And for anyone asking how to buy Bitcoin in Canada with TD Bank, RBC, credit card, PayPal, or Interac e-Transfer, the answer is: it depends on the platform. A technician inspects the backside of Bitcoin mining at Bitfarms in Saint Hyacinthe, Quebec. AFP via Getty Images Most Canadian exchanges support e-transfer, while some accept bank cards and PayPal for a fee. 'Canadians have a wide range of options for buying Bitcoin,' said Tapscott. 'Each method comes with its own tradeoffs in terms of fees, custody, convenience, and security.' Ultimately, Park said, real crypto ownership begins with taking custody. 'Buying a token on a marketplace like Coinsquare or Wealthsimple is not enough,' he said. 'One needs to transfer the assets to a self-custody wallet to truly control them and access decentralized applications.' Cryptocurrency is not a guaranteed path to profit. While it offers incredible potential, it also comes with volatility, scams, and technical complexity. A worker checks the fan on a miner, at the cryptocurrency farming operation, Bitfarms, in Farnham, Quebec, Canada. REUTERS 'The most important gap is to understand that the blockchain economy is not about token price speculation, but about useful applications,' said Park. Scott encourages Canadians to consult reliable educational resources, including the Canadian Securities Administrators' investor tools. She also recommends the Certified Bitcoin Professional (CBP) credential for those serious about learning. 'There is a frustrating amount of fraud and crime, but also an equally frustrating amount of fear-mongering,' said Park. 'Never ever put any money into crypto assets that you are not prepared to lose 100%.' Still, Tapscott remains bullish on the long-term transformation underway. 'Bitcoin is actively undergoing a renaissance,' he said. 'It is evolving beyond just a medium of exchange or store of value into a platform that supports a wide array of activities, applications, and use cases.' For Canadians wondering how to buy crypto in Canada, the options are vast — but informed decision-making is key. Understanding both the risks and the technology is the best first investment.
Time of India
17-05-2025
- Business
- Time of India
World leader in digital assets? Toronto emerges as a global blockchain hotspot as Canada's steady crypto rules outpace America's political gridlock
While US legislators are stuck in regulatory gridlock, Canada has quietly established itself as a world leader in cryptocurrency and blockchain technology, and Toronto as a hub of innovation, as per a report. Canada's Head Start on Crypto Regulation According to CNBC, Canada was one of the first countries to enact rules for crypto, by starting with anti-money laundering guidelines in 2014 and then it has consistently updated its regulatory guidance. Toronto Becomes a Crypto Launchpad CNBC wrote that the "regulatory clarity has made Toronto a launchpad for blockchain growth." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Live Comfortably: 60m2 prefabricated bungalow for the elderly in Libertad Pre Fabricated Homes | Search Ads Search Now Undo Companies are now seeing an opportunity in Canada, with American financial services company Robinhood's recent acquisition of Canadian crypto firm WonderFi, which is the owner of Bitbuy and Coinsquare, to get access to Canada's established user base, reported CNBC. ALSO READ: What led to Moody's downgrading the U.S. credit rating to Aa1, first time in over a century? Here are the reasons the agency cited and why Americans should be worried Live Events Robinhood's crypto chief, Johann Kerbrat highlighted that, 'Canada is a very attractive market for us,' adding, 'It's projected to be more than 30 million users using crypto here in Canada, with revenue projections of about $900 million in 2025,' as quoted in the report. Major Announcement at Consensus 2025 in Toronto During Consensus 2025 in Toronto, which is one of the globe's bigest crypto conferences, JPMorgan, Ondo, and Chainlink revealed to bet $100 billion on blockchain with a new platform to tokenize real-world assets, according to CNBC. Ondo Finance CEO Nathan Allman said that, 'It's really the first time that there's been this interoperability between a bank's permissioned blockchain environment and a public blockchain,' quoted CNBC. ALSO READ: Moody's downgrades U.S. rating from AAA to Aa1; what are the consequences of this move, and will the economy be affected? Here are all the details Both Ondo and Chainlink said that, the new offering will allow treasuries to be tokenized and settled using blockchain, combining JPMorgan's Kinexys Digital Payments network with Ondo's blockchain infrastructure, reported CNBC. FAQs Why is Canada suddenly seen as a crypto leader? Because it started regulating crypto as early as 2014 and has provided consistent, clear rules that make it easier for companies to grow. How has Robinhood entered the Canadian crypto market? Robinhood acquired WonderFi, a Canadian crypto firm, giving it access to platforms like Bitbuy and Coinsquare.
Globe and Mail
15-05-2025
- Business
- Globe and Mail
WonderFi Reports First Quarter 2025 Results
Achieved $17.5 million in revenue and interest income during the quarter ended March 31st. Wholly owned trading platforms Bitbuy and Coinsquare generated over $1.128 billion in trading volumes during the quarter. Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) ("WonderFi" or the "Company"), a global leader in centralized and decentralized financial services and products, today announced its financial results for the three months ended March 31 st, 2025. All financial references are in Canadian dollars unless otherwise noted. Key First Quarter 2025 Financial Highlights: Achieved $17.5 million in revenue and interest income in Q1 2025, the third highest revenue quarter in company history. Wholly owned trading platforms Bitbuy and Coinsquare generated over $1.128 billion in trading volumes during the quarter. Key Q1 2025 Operational Highlights Launched a new self-custodial Wonder Wallet alongside a Layer-2 blockchain built on ZKsync, aimed at driving mainstream adoption of on-chain finance and decentralized technologies. Expanded its educational reach with the launch of a dedicated Canadian platform designed to provide accessible Bitcoin investor education and onboarding tools. Acquired Blade Labs, a Solana infrastructure company, to enhance its blockchain capabilities and support the development of scalable decentralized applications. Subsequent To Q1 On April 10th, 2025, the WonderFi sold 15,917,504 common of Tetra Trust Company for net proceeds of $8.38 million CAD. On May 13, 2025, WonderFi entered into a definitive agreement (the "Arrangement Agreement") with Robinhood Markets, Inc. ("Robinhood") and a wholly owned subsidiary of Robinhood (the "Purchaser"). Pursuant to the Arrangement Agreement, the Purchaser will acquire all of the issued and outstanding common shares of the Company ("Common Shares") for C$0.36 per Common Share by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). The Arrangement is subject to customary conditions, including securityholder approval, and the approval of the Supreme Court of British Columbia, approval under the Competition Act (Canada) and the approvals of the Canadian Securities Administrators and the Canadian Investment Regulatory Organization. Subject to satisfaction of such conditions, the Arrangement is expected to be completed during the second half of 2025. "We're extremely pleased with the progress we've made in Q1 2025," said Dean Skurka, President and CEO of WonderFi. "Our strong start to the year has enabled us to stay focused on our strategic initiatives and continue investing in growth." Access to Financial Statements and Management Discussion and Analysis Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval ("SEDAR+"), the electronic filing system for the disclosure documents of issuers across Canada at About WonderFi WonderFi is a global leader in centralized and decentralized financial services and products. With over $1.7 billion in client assets under custody, WonderFi's regulated trading platforms are well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications. Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, Smartpay and As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space. For more information, visit Additional Information For additional information, please contact: Media / Investor Relations Charlie Aikenhead Invest@ Forward-Looking Information and Statements This press release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control, including, specifically, the entering into of definitive agreements in respect of the partnership, the receipt of regulatory approvals in respect thereof, the timing of launch and the expected benefits of the partnership. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and securityholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions for the completion of the Arrangement, and other expectations and assumptions concerning the proposed Arrangement. The anticipated dates indicated may change for a number of reasons, including the necessary regulatory, securityholder and court approvals, the necessity to extend the time limits for satisfying the other conditions for the completion of the proposed Arrangement. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking financial information and statements are the following: the failure of the parties to obtain the necessary securityholder, regulatory and court approvals or to otherwise satisfy the conditions for the completion of the Arrangement in a timely manner. Failure to obtain the necessary securityholder, regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions for the completion of the Arrangement or to complete the Arrangement, may result in the Arrangement not being completed on the proposed terms or at all. These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended March 31, 2025, available on its SEDAR+ profile at Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
Finextra
13-05-2025
- Business
- Finextra
Robinhood to buy Canadian crypto player WonderFi
American trading app Robinhood is buying WonderFi, the Canadian crypto operator of Bitbuy and Coinsquare, for around C$250 million in cash. 0 The Bitbuy and Coinsquare platforms together hold more than C$2.1 billion in assets under custody. Robinhood says the deal will help it expand in one of the world's fastest growing crypto markets and build a "global financial ecosystem". WonderFi employees will join more than 140 Robinhood staffers already based in Canada. The US giant established a base Toronto in 2024 as an infrastructure engineering hub. 'WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood's mission in Canada,' says Johann Kerbrat, SVP and GM, Robinhood Crypto. Under the agreement, set to close in H2, Robinhood will pay C$0.36 per share in cash to acquire all outstanding shares of WonderFi. This represents a 41% premium over WonderFi's closing price on 12 May.
