WonderFi joined the Blockchain Futurist Conference in Canada to deliberate on the company’s recent expansion announcement into Australia.
In 2023, the crypto firm merged with Coinsmart and Coinsquare, ensuring that $1 billion in assets were under management during the same year.
At the Blockchain Futurist Conference in Canada this year, Dean Skurka, president and CEO of WonderFi, and Tim Lo, the firm’s head of the Australia and Asia Pacific (APAC) markets, engaged in a conversation with Cointelegraph regarding the company’s recent announcement of its expansion into Australia and the future of the crypto industry.
Skurka clarified that the company’s entry into Australia is its initial venture into global expansion. The CEO of WonderFi stated that the company selected Australia due to its demographics and regulatory policies being comparable to Canada’s. Skurka noted that the expansion to Australia was more “seamless” due to the similar licensing requirements. The CEO discussed the organization’s strategic approach to supporting markets in the long term:
“We are embracing a regulatory-first mindset with respect to the markets that we enter. We, as a public company, want to invest in markets where we have the confidence we’ll be able to service them for a long period of time.”
The CEO of WonderFi continued by asserting that the crypto adoption is increasing. He expressed optimism that more consumers are now comfortable undertaking onchain transactions and predicted the development of more intuitive user interfaces in crypto applications.
WonderFi APAC markets President says Crypto is still early
Lo, the president of WonderFi APAC markets, expressed his conviction that the crypto industry and markets are still in their infancy. He also predicted that as the industry matures, large institutional investors will allocate a substantial portion of their investment portfolios to digital assets.
“Sooner or later, we’re going to see a lot of the pension plans, a lot of the government funds, start putting actual proper asset allocation into crypto. I think that’s when the market is going to be mature, but we’re far away from that.”
Lo contended that while crypto markets are currently 33% lower than their previous all-time peak, they will eventually reach new highs due to institutional investors’ demand for crypto exchange-traded funds (ETFs) and the introduction of these products in the United States.
Retail interest in crypto markets is anticipated to increase
Earlier in June, Skurka contended that the Bank of Canada’s interest rate cuts and the introduction of crypto ETFs in the United States attracted retail investors to the digital asset markets.
Nevertheless, the CEO stated that these were merely preliminary indications and that retail investors would not suddenly enter the markets but would do so throughout the next six to 12 months.
