Vancouver’s WonderFi is set to become the only crypto marketplace and registered crypto-trading platform to be listed on the TSX.
WonderFi Technologies has received conditional approval to be listed on the Toronto Stock Exchange (TSX) on June 22nd. WonderFi is currently listed on the Neo Exchange and on OTC Markets.
In the midst of what many are calling crypto winter, Canadian investors will now have the ability to invest in a Canadian-registered crypto trading platform through Canada’s oldest and largest exchange.
Until now, the only crypto-trading platform available on the TSX has been Voyager Digital which is both US-based and not regulated in Canada.
According to WonderFi, the TSX approached WonderFi about getting listed on its exchange to broaden its crypto offerings to include more stable and Canadian regulated companies.
When asked why WonderFi decided to list on the TSX when both the exchange and tech sector are down in 2022, WonderFi CEO Ben Samaroo explained, “As North America’s 3rd largest exchange, we felt that getting listed on the TSX will attract a new breed of retail and institutional investor to WonderFi.”
“Older investors who trust companies listed on Canada’s most senior exchange. As well, the TSX is the 11th largest exchange in the world and with that comes potential international investors looking to invest in regulated crypto companies as there is so few of them out there in the world.”
According to Samaroo and his team, crypto investors are getting older making the TSX the perfect home for the crypto-trading platform’s shares.
Over the past 4 years, the median age of new crypto investors on WonderFi’s Bitbuy has jumped 5 years. Including a 3-year jump in just the past 12 months. If this trend continues, the median age could be in the mid-40’s by 2026.
Bitbuy’s data also shows that older investors invest more money with crypto investors in their 40’s are investing three times the amount of those under 30. And crypto investors who are between 61 to 65 are investing five times the amount of those under 30.