Bitbuy partnering with Cumberland to enhance crypto liquidity

Bitbuy partnering with Cumberland to enhance crypto liquidity
Share this article

VANCOUVER – WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) announced that its main operating subsidiary, Bitbuy Technologies Inc., has partnered with Cumberland DRW LLC to further enhance liquidity on Bitbuy’s registered crypto asset marketplace.

Cumberland is a specialized crypto asset trading subsidiary within the DRW Trading Group, a diversified principal liquidity provider with more than 30 years of experience in traditional and cutting-edge financial markets around the world. Cumberland, which was founded in 2014 and is now one of the world’s leading liquidity providers in crypto assets, is anticipated to provide significant additional liquidity to the Bitbuy platform. This effort, which will be supported by DRW’s robust offices in Montreal and Toronto, is anticipated to allow the Bitbuy trading platform to fulfill demand from large institutions and retail investors alike.

“We are excited that Cumberland is collaborating with Bitbuy as a registered crypto-trading platform partner in Canada,” said WonderFi President and Interim CEO, Dean Skurka. “By accessing Cumberland’s deep liquidity, Bitbuy is now better positioned as it continues to strive to offer its users some of the most competitive crypto prices in Canada.”

“We are pleased to continue to expand our footprint in Canada – an important market for Cumberland – by offering crypto liquidity to Bitbuy, a registered exchange serving crypto enthusiasts and larger investors across Canada,” said Nathalie Ngo, Relationship Manager for Canada. “Cumberland shares Bitbuy’s commitment to transparency, and we are confident our deep, consistent liquidity will help the company efficiently and effectively serve its customers.”

WonderFi is a leading technology company with the mission of creating better, unified access to digital assets through centralized and decentralized platforms. WonderFi’s executive team and Board of Directors have an established track record in finance and crypto. 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 finance in a simple, smart and secure way.

Launched in 2014 as the crypto arm of global trading firm DRW, Cumberland is one of the world’s leading crypto liquidity providers, serving institutional counterparties through OTC spot and derivatives. In addition to its core trading business, Cumberland’s global team partners with TradFi and DeFi native companies to advance their Web3 and DeFi strategies, serves as a resource to regulators and policy makers, and makes investments in promising new projects.

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.