Priya Patel
TLDR:
Key Points:
- Canadian startup WonderFi acquires Australian crypto trading license for international expansion.
- Rails raises $6.2M for decentralized FTX alternative.
In a recent article by BetaKit, Canadian startup WonderFi has acquired an Australian crypto trading license as part of its international expansion strategy. This move comes as the market conditions for crypto have improved, prompting the Toronto-based firm to prioritize international growth again under the leadership of CEO Dean Skurka.
Another notable development in the FinTech space is the launch of Rails, a decentralized crypto exchange that aims to fill the void left by FTX. The startup has raised $6.2 million in funding and is planning to launch an offshore service in select crypto-friendly countries.
Additionally, Nuvei, a Montréal-based payments company, has confirmed discussions with third parties for a potential takeover transaction. The company’s stock saw a significant increase following the announcement, reflecting investor interest in Canadian tech companies exploring privatization options.
Other highlights from the article include a fundraising update from commodities exchange startup Abaxx Technologies, a penalty imposed on Delphia by the SEC for misleading statements about AI capabilities, and the departure of Robinhood co-founder Baiju Bhatt from his role as chief creative officer.
Furthermore, Vancouver-based FinTech startup VoPay has partnered with Cross River Bank to expand its presence in the US and UK markets. The company plans to leverage this partnership for its European expansion efforts, aiming to establish a strong foothold in the region.
Lastly, budgeting app Copilot has experienced significant growth following the discontinuation of Mint by Intuit. This shift in the market dynamics has led to increased investor interest, resulting in a successful $6 million Series A funding round for the subscription-based personal finance tracker.
