WonderFi to acquire Crypto APIs

WonderFi to acquire Crypto APIs
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VANCOUVER –  WonderFi Technologies Inc. (NEO: WNDR) (OTC PINK: WONDF) (WKN: A3C166) (FTX: WNDR) today announced that it has agreed to acquire all of the issued and outstanding shares of Mena Software Ltd., a data and wallet provider that services customers including Paypal, Ledger, Chainlink and Nexo.

Crypto APIs was founded in 2018, and is a leading provider of cryptocurrency and blockchain market data and tools which are utilized by a wide range of market participants including enterprises, wallets and exchanges and institutional investors. Crypto APIs is a trusted data authority that provides secure and scalable data products for the crypto and DeFi industries. Crypto APIs has also developed a multi-party computation Wallet product that enables best in class MPC security for digital assets, similar to products offered by Fireblocks and Copper.

“Data is the backbone of all financial markets, and is more difficult to obtain in the crypto and DeFi sectors due to the fragmentation of market data across different protocols and blockchains” commented WonderFi CEO, Ben Samaroo. “WonderFi’s acquisition of Crypto APIs will help us provide access to high-quality, comprehensive data in order to foster efficiency, transparency and growth in the sector, while directly integrating and supporting WonderFi’s own products”.

“To be part of Web 3.0, you need the right infrastructure and tools. Crypto APIs provides businesses with solutions that are the backbone of the Web 3.0 ecosystem. We are excited to join the family of WonderFi as this will allow us to scale up fast, improve our services, develop institutional products and expand into new territories,” commented Nashwan Khatib, CEO of Crypto APIs.

The Acquisition is currently anticipated to be valued between $15 million and $25 million USD, subject to on-going due diligence, and consideration will be paid as a combination of cash and WonderFi common shares. WonderFi will retain substantially all current Crypto APIs staff and enter into employment agreements with key members of the management team.

The Acquisition is subject to the parties negotiating and entering into a binding definitive agreement to give effect to the Acquisition and is expected to close in the first quarter of 2022, subject to Crypto APIs shareholder approval, board approvals, the completion of due diligence by WonderFi and other acquisition-related closing conditions and regulatory approvals.

WonderFi is a leading technology company with the mission of creating better access to DeFi through the core principles of simplicity and education. WonderFi has a multi-pronged business strategy which includes a high-growth consumer finance app which will serve as a trusted gateway to the new financial system, and a digital asset portfolio which consists of leading crypto and DeFi assets. WonderFi’s executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital, Hut 8 and BIGG Digital. WonderFi’s core team of engineers and technologists believe that everyone should have equal access to finance, and are aligned in the mission to empower people around the world to access DeFi in a simple, smart and secure way.

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