The Vancouver-based crypto company will offer investors fractional stock trading through Bitbuy, the crypto-trading platform it bought in March, through a partnership with fintech software developer AlpacaDB. (The Logic)
Talking point: Bitbuy differentiates itself from competitors like Wealthsimple by settling fractional stock trades in real-time. WonderFi’s CEO Ben Samaroo told The Logic Bitbuy users want access to other investment products and that offering equities alongside cryptocurrencies is a “natural fit.” He also said Bitbuy will have zero commission and will be “the lowest cost product” in the market. Bitbuy will offer U.S. stocks, exchange-listed securities and ETFs, with no timeline yet for expanding to Canadian equities, because most of the demand is in the U.S. market, said Samaroo. The CEO said letting Bitbuy users invest in WonderFi is something he has “wanted for a long time,” and could become reality when the company lists on the Nasdaq in 2023.
