WonderFi provides access to DeFi through ZKsync's Ethereum-level security, with scalability and cost-efficiency
The Wonder Wallet is now available on Android and iOS in select markets, while the Wonder Layer-2 blockchain's testnet is now live
Toronto, Ontario--(Newsfile Corp. - February 20, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi"), a global leader in centralized and decentralized financial services and products, has launched a Layer-2 ("L2") blockchain, powered by ZKsync, and a digital wallet on ZKsync's Elastic Network through its innovation arm, WonderFi Labs.
The Wonder Wallet is now available on Android and iOS in select markets, while the layer-2 blockchain is available in testnet.
The new ZK Chain-powered L2 and wallet provide users with premier, innovative services and applications, connecting them to decentralized finance ("DeFi") through industrial-grade security and scalability at a competitive cost.
The decision to launch on the Elastic Network strategically positions WonderFi as a first-mover using ZKsync technology to give retail users seamless access to decentralized finance.
Importantly, this integration unlocks a new universe of financial applications and services for WonderFi users, including lending, borrowing, staking, and decentralized exchange trading, subject to geo-restrictions.
Acting as a gateway to DeFi and leveraging access to an ever-expanding network of applications and services within ZKsync's Elastic Network, WonderFi's ZK Chain and wallet will also be an innovation hub for crypto developers, allowing them to build and ship next-generation decentralized applications. This network and wallet will be available globally, but access may be restricted and geo-blocked based on the jurisdiction of a user.
"WonderFi is committed to continuously innovating our offerings to provide our users with a best-in-class experience. Launching on ZKsync marks the next phase of increasing the accessibility and scalability of WonderFi's products - positioning us at the forefront of tech innovation in the crypto space. By integrating ZKsync technology, we gain scalability while ensuring unparalleled ease of use for new entrants to the DeFi space," said Dean Skurka, President and CEO of WonderFi.
"WonderFi's deployment into the Elastic Network showcases the capabilities of ZKsync's technology to meet the needs of retail users while creating scalable blockchain solutions," said Alex Gluchowski, Co-Inventor of ZKsync. "ZKsync's advanced ZK technology will empower WonderFi to offer its users unparalleled scalability, security, and low transaction fees. This integration drives a more accessible and inclusive onchain finance ecosystem, creating a seamless and accessible Web3 experience that accelerates mass adoption, aligning with ZKsync's mission to build Web3 without compromise."
WonderFi's L2 joins ZKsync's Elastic Network of ZK Chains that are designed to be natively interoperable and leverage ZK Stack to handle a significantly higher volume of transactions, thus reducing congestion and lowering fees.
The launch of WonderFi's L2 in testnet demonstrates how ZKsync's scalable infrastructure can unlock mainstream adoption for retail-focused financial platforms. Furthermore, WonderFi's freemium, gasless wallet - powered by ZKsync's native account abstraction - will offer seamless access to the world of DeFi and NFTs, eliminating barriers to entry for new users.
More information on both products can be found at labs.wonder.fi.
About WonderFi
WonderFi is a global leader in centralized and decentralized financial services and products.
With over $2.4 billion in client assets under custody, 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. Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay, Bitcoin.ca and Tetra Trust. As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.
For more information, visit www.wonder.fi.
About ZKsync
ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with improved scale. Secured by math and designed for native interoperability, ZKsync enables the Elastic Network, an ever-expanding ecosystem of customizable chains. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership widely available.
To learn more about ZKsync, visit http://www.zksync.io.
For additional information, please contact:
Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi
M Group Strategic Communications (on behalf of ZKsync)
zksync@mgroupsc.com
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking financial information and statements are the following: taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation; decisions to modify, pause or discontinue certain treasury management strategies; the Company's ability to provide a competitive service within the regulated crypto asset trading platform industry; the Company's ability to manage its capital and non-capital expenses . These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended September 30, 2024, available on its SEDAR+ profile at www.sedarplus.ca.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.