Toronto-based FinTech agency Wealthsimple has launched 14 new tokens and cryptocurrencies that at the moment are that can be purchased and promote on the corporate’s crypto buying and selling platform.
Wealthsimple Crypto beforehand allowed customers to purchase and promote Bitcoin and Ethereum commission-free. This week, the corporate added peer-to-peer cryptocurrencies and tokens of DeFi protocols. A number of the new cash embrace Dogecoin, Litecoin, Chainlink, and Uniswap.
Wealthsimple first introduced plans to develop into crypto buying and selling in July 2020, and formally launched its crypto providing two months later.
“Final 12 months, Wealthsimple launched its Wealthsimple Crypto platform. It was the primary and solely regulated crypto change in Canada,” the corporate wrote in a weblog publish. “The concept was easy: it is best to have the ability to purchase and promote Bitcoin and Ethereum, with the identical confidence … you purchase and promote shares on Wealthsimple Commerce. Crypto has grown by leaps and bounds since then. And now we’ve determined to develop what Wealthsimple Crypto can do, too.”
The corporate stated among the newly-launched cash have been extremely requested by the platform’s customers. Dogecoin, one of many new cash, noticed a major uptick in reputation this 12 months, pushed, partly, by tech billionaire Elon Musk. In Might, Musk’s house exploration agency SpaceX announced a rideshare mission to the Moon that’s anticipated to be fully funded by Dogecoin.
Litecoin, Uniswap, and Chainlink are additionally among the many hottest cryptocurrencies to commerce. Chainlink and Uniswap are each constructed on the Ethereum blockchain, whereas Litecoin is a local asset that after coexisted on the identical blockchain as Bitcoin.
Wealthsimple first announced plans to develop into crypto buying and selling in July 2020, and officially launched its crypto providing two months later. In August, the corporate acquired conditional approval from the Canadian Securities Directors (CSA) via its Sandbox program to check the platform for a interval of two years.
Wealthsimple Crypto is regulated by 13 provinces and the federal authorities. The crypto buying and selling platform was the primary to be regulated in Canada, in addition to the one crypto asset platform to be approved by the CSA to function in Canada on the time. All the platform’s property are locked in chilly storage with Gemini, Wealthsimple’s associate custodian.
“We’re very excited that Canadians can now purchase and promote 14 new cash on Wealthsimple Crypto, together with Uniswap, Aave, Chainlink, Dogecoin, and different high DeFi tokens,” Danish Ajmeri, head of Crypto at Wealthsimple informed BetaKit.
“Crypto has gained plenty of momentum in Canada over the previous few years,” added Ajmeri. “As the one regulated platform in Canada, we need to be that easy, protected and safe platform that a whole bunch of 1000’s of Canadian traders who’re fascinated by crypto can depend on.”
In Might, Wealthsimple raised a $750 million spherical of funding at a post-money valuation of $5 billion CAD. Since then, Wealthsimple has been increasing different areas of its enterprise.
Final month, the corporate launched its Shariah-compliant exchange-traded fund on the NEO Alternate, which was created to supply traders entry to a diversified index of Shariah-compliant shares.
In its weblog publish, Wealthsimple stated it plans to launch new options for Wealthsimple Crypto within the subsequent few months and is seeking to quickly add extra cash that meet its requirements.
Picture supply Wealthsimple.