Bitbuy, a subsidiary of Canadian technology company WonderFi, has acquired Bitvo Inc., making WonderFi the owner of almost 50% of all regulated crypto-trading platforms in Canada. WonderFi already dominates the market by consolidating five out of eleven regulated crypto exchanges in the country. The acquisition of Bitvo's clients will bring immediate cash flow and increased scale to WonderFi. This move comes as the North American cryptocurrency market saw transfers totaling approximately $1.2 trillion in the past year. WonderFi currently has over 1.6 million Canadian users and $875 million worth of assets under its custody. There is an increasing interest in the crypto sector in Canada, with 30% of Canadians planning to enter the crypto world within the next 12 months.
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