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NEW YORK, April 18, 2022 /PRNewswire/ — Decentralized Finance (DeFi) is continuing to gain traction and DeFi protocols are raising millions to offer retail investors better access to the growing market. Ribbon Finance, a protocol that makes it easier for investors to benefit from the complicated world of crypto derivatives, just raised $8.8 million after partnering with Paradigm to build new risk products native to DeFi and double down on the project’s multi-chain approach. At the same time, Struct Finance raised $3.9 million to develop structured products in DeFi, which the company will use to build the tools allowing institutions to easily customize interest rate products and to combine them with options to build structured products that are better suited to the profiles of different investors. Structured products in DeFi allow investors of various risk profiles to participate in the DeFi ecosystem thus boosting investor interest in DeFi. WonderFi Technologies (NEO:WNDR) (OTCPK:WONDF), Bit Digital Inc. (NASDAQ:BTBT), Bitfarms Ltd. (NASDAQ:BITF) (TSXV:BITF), Coinbase Global, Inc. (NASDAQ:COIN), and HIVE Blockchain Technologies (NASDAQ:HIVE) (TSXV:HIVE) are benefitting from the growing interest in DeFi and crypto.
WonderFi Technologies (NEO:WNDR) (OTC:WONDF), a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms, announced on April 18 that it had entered into a definitive agreement to acquire Coinberry Limited. The transaction is valued at approximately $38.6 million.
Founded in 2017, Coinberry has become one of Canada’s leading crypto trading platforms. It includes 29 of the top cryptocurrency trading pairs and services from over 220,000 users. Coinberry earned over $13.2 million in revenue for the year ending December 31, 2021.
WonderFi CEO Ben Samaroo commented, “This acquisition further establishes…
