WonderFi CEO: Canadian crypto market growth driven by regulatory environments and market factors
Dean Skurka, CEO of Canadian crypto platform WonderFi, said at the Collision conference in Toronto that the outlook for Canada's retail crypto exchange market is promising, and a confluence of factors, including local regulatory environments, is likely to continue to drive market growth. The Bank of Canada's interest rate cut and strong interest in bitcoin and Ethereum exchange traded funds have put cryptocurrencies in a good position with a wider audience. In addition, the expectation of a bitcoin halving also promises a strong retail market.
WonderFi plans to consolidate the multiple crypto companies it acquired into a single entity and expand into the Asia-Pacific region by merging with Coinsquare. Skurka said Canadian regulators are "more advanced" than their Asia-Pacific counterparts. While other industry players are less enthusiastic about Canadian regulation, Skurka applauded Canada's regulatory environments. WonderFi will announce its activities in the Asia-Pacific region in a few months.