Bitbuy APAC Launches in Australia
Bitbuy's OTC division is now open for customers and live for trading across the APAC region.
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WonderFi Technologies Inc., a global provider of centralised and decentralised financial services and products, announced the official launch of WonderFi subsidiary Bitbuy APAC in the Asia-Pacific region (APAC) and the company’s new partnership with Kogan.com, an Australian ecommerce platform.
Bitbuy announced the completion of its first ever international crypto trade, following WonderFi’s March 2024 acquisition of Australian-based FX Institutions Pty. Ltd. Bitbuy has now established a local team based in Melbourne, Australia and is planning further expansion in the coming months.
As part of WonderFi’s current AUSTRAC Digital Currency Exchange (DCE) and Payment Remittance registrations, Bitbuy is able to onboard and work with institutional and individual customers throughout APAC.
“Launching in APAC is a significant step forward in our international growth strategy,” said Dean Skurka, CEO & President of WonderFi. “We’re focused on developing market-leading products and services that will resonate with a global audience and the highly active crypto market in APAC is an ideal entry point.”
WonderFi will continue to work closely with local Australian regulators and global law firm Clyde & Co. to obtain an Australian Securities & Investment Commission (ASIC) licence, which will allow it to offer derivatives, non-cash payments and other financial products within the region.
Bitbuy’s OTC division is now open for customers and live for trading across the APAC region.
Strategic Partnership and First Purchase with Kogan
In conjunction with the APAC launch, WonderFi also announced a strategic marketing partnership with Kogan. Kogan FIRST members will receive exclusive promotions and benefits from Bitbuy to celebrate its launch in Australia, and Kogan will promote and advise Bitbuy across multiple marketing channels in return.
To kick off the partnership, Kogan made the first purchase of Bitcoin through Bitbuy APAC and will hold the Bitcoin in their corporate treasury.
“Bitbuy’s launch in Australia brings full circle the acquisition of the Bitbuy.com domain from Kogan.com in 2021,” said Bobby Halpern, Chair of the Board of Directors of WonderFi.
“Bitbuy’s long-term plan has always been to develop and market its proprietary products and technology to regulated markets globally and we’re extremely pleased to have made substantive progress in that goal. We look forward to collaborating with the entire Kogan team.”
“We’re excited to partner with Bitbuy on its APAC launch and to provide our Kogan FIRST members with exclusive access to a number of benefits and offers,” said David Shafer, Executive Director of Kogan.com. “We’re also looking forward to partnering with the Bitbuy team to explore new opportunities within the cryptocurrency space.”
