With over $2.4 billion in client assets under custody as of February 2025, WonderFi's regulated trading platforms are well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications. In February 2025, WonderFi Labs launched a Layer-2 blockchain powered by ZKsync and the Wonder Wallet on ZKsync's Elastic Network, with the Wonder Wallet now available on Android and iOS in select markets.
Cyborg Score Rationale
WonderFi combines significant regulatory compliance credentials with aggressive innovation in both centralized and decentralized finance. The company controls substantial assets under custody and has executed strategic platform consolidations; however, exposure to volatile crypto markets and regulatory uncertainty present ongoing risks.
Top Insights
(February 2025) Launched Wonder Wallet and Layer-2 blockchain on ZKsync infrastructure, positioning as first-mover in retail DeFi accessibility
(April 2025) Divested majority stake in Tetra Trust Company for $8.75M CAD to accelerate WonderFi Labs and Web3 development
Regulatory-first architecture: First crypto-native registered dealer with staking license from OSC/CSA, reducing compliance risk vs. unregulated peers
Multi-brand consolidation strategy with 1.6M+ registered users across Bitbuy, Coinsquare, SmartPay, Bitcoin.ca and other properties
Named Competitors
Kraken — Leading global cryptocurrency exchange with regulatory compliance focus
Gemini — Regulated US-based cryptocurrency trading platform and custodian
Uniswap — Leading decentralized exchange protocol for DeFi trading
BlockFi — Digital asset trading and lending platform
Recent Developments
(April 2025) Sold majority ownership stake in Tetra Trust Company for $8.75M CAD; Wonder Wallet expanding to Bitcoin and Solana support
(February 2025) Launched Wonder Wallet (Android/iOS) and ZKsync-powered Layer-2 blockchain in testnet; positioned as first-mover on Elastic Network
(Late 2023-Early 2024) Completed consolidation of major platforms including Bitbuy, Coinsquare, and CoinSmart; achieved 1.6M+ registered users
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