One of the largest players in regulated crypto exchanges in Canada has a new focus: building their own blockchain.

‍What’s happening:‍

• WonderFi (TSX:WNDR) has announced they are developing their own layer two blockchain which will be built on the Ethereum blockchain
  

The big idea:‍

• WonderFi is aiming to launch a new layer two blockchain that is a seamless experience for their existing users to be able to leverage for rapid, low cost transactions and can be easily integrated into other digital asset products that WonderFi operates
  

Why it matters:‍

• New purpose built blockchains have been on the rise, notably with Coinbase (NASDAQ: COIN) launching their very own layer two blockchain known as Base that has seen a flurry of activity from developers and the crypto community as a whole
  

Going deeper:‍

• WonderFi recently joined the growing number of publicly traded companies who are buying Bitcoin to hold directly as an asset and have also begun to accumulate Ethereum as well
  
• WonderFi currently has the single largest user base of any crypto company in Canada who operates regulated crypto exchanges and trading platforms

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