WonderFi To Use Stablecoins For Treasury Management
WonderFi Technologies Inc.(NEO: WNDR) (OTCMKTS: WONDF) today announced that it will be using US dollar denominated stablecoins in its treasury management strategy.
Stablecoins are price-stable digital currencies backed by fiat currency, and provide significant benefits including streamlining cash management, enabling the entering and exiting of crypto investments seamlessly, and providing the ability to obtain long-term value on corporate balance sheets by earning yield on idle assets.
Stablecoins are the future of treasury management for companies in all industries and of all sizes. The use of stablecoins in our treasury management allows us to earn much higher yields on our unused working capital and cash reserves, than we would through a bank. This allows us to optimize performance of cash on our balance sheet without increasing volatility.Ben Samaroo, CEO of WonderFi
WonderFi intends to utilize certain stablecoins including USDC and DAI, and the Company will review performance, risks and new developments in the area on an ongoing basis to continue to optimize its treasury management.
WonderFi is also pleased to announce that its common shares listed in the United States under the symbol “WONDF” are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC“) in the United States.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation that manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible.” The electronic method of clearing securities through the DTC allows for cost-effective clearing and guaranteed settlement, simplifying and accelerating the settlement process for investors trading the Company’s shares.
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