Is kevinolearytv's next move a crypto exchange? WonderFi, backed by Kevin O'Leary, is buying CoinberryHQ for over $30 million. The platform will be the second regulated crypto exchange under WonderFi once the acquisition is finalized.
O'Leary also highlighted that the company is competing on the global stage while making sure that it's on"a regulated basis." The billionaire mentioned that the team is"not taking any risks" and are operating under regulated conditions.
According to O’Leary, the customers of both platforms acquired will not see any instant changes. However, the Shark Tank star also noted that WonderFi plans to add features to each platform. With the acquisition of Coinberry, WonderFi will own two out of the six regulated exchanges in Canada. Bitbuy, WonderFi's recent purchase became fully regulated after being licensed by the Ontario Securities Commission in November 2021. On the other hand, Coinberry also registered in the OSC in August last year.
Apart from the two exchanges, only four other platforms are registered for providing crypto trading. These include Wealthsimple, CoinSmart, Netcoins and Fidelity.