Clyde & Co Advised WonderFi to acquire FX Institution for expanding in Asia Pacific region
Clyde & Co Advised WonderFi to acquire FX Institution for expanding in Asia Pacific region
It aims to launch over-the-counter structured products trading services in Q2 2024
International law firm Clyde & Co has counseled Canadian-listed crypto trading platform operator WonderFi Technologies on the acquisition of FX Institution.
It aims to expand in the Asia Pacific region, especially Australia, considered a key digital assets market globally, with one of the highest rates of cryptocurrency adoption among developed nations.
WonderFi, an industry consolidator, wholly owns and operates Canada’s two largest regulated crypto trading platforms, Bitbuy and Coinsquare and its global crypto payments business SmartPay.
The acquisition will permit WonderFi to offer spot and stable coin cryptocurrency trading. It aims to launch over-the-counter (OTC) structured products trading services in the country in Q2 2024.
Commenting on the move, Matthew Ellis, the Melbourne partner at Clyde & Co said, “We are pleased to have assisted WonderFi enter the Australian market through this acquisition, and look forward to seeing their team succeed in this market and contribute to Australia’s digital assets sector.”
Liam Hennessy, the Brisbane partner at Clyde & Co added, “This is a landmark acquisition for WonderFi and we were ideally placed to handle this transaction given our seamless market-leading digital assets practice that spans the globe, and deep financial services regulatory expertise.”
The Clyde & Co team led by partners Matthew Ellis and Liam Hennessy was assisted by special counsel Isabelle Nash and associates Matthew Boyhan and Celine Xia.
