Digital Asset Ecosystem

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Snail, Inc. Advances Stablecoin Initiative by Establishing a New Wholly Owned Subsidiary, Snail Coins LLC
Globenewswire· 2025-07-22 12:30
Core Insights - Snail, Inc. has established Snail Coins LLC as a subsidiary to manage its USD-backed stablecoin initiative and digital asset management strategy [1][2][3] - The stablecoin project aims to provide a secure and scalable solution to address gaps in digital payments and financial infrastructure, particularly following the enactment of the GENIUS Act [3][4] Company Developments - The formation of Snail Coins LLC represents a strategic commitment to the integrity and success of the stablecoin project, aligning with the regulatory landscape that is evolving to support digital finance innovation [4] - The GENIUS Act creates a federal regulatory framework for USD-backed stablecoins, which is expected to enhance market trust and attract institutional interest [3][4] Industry Context - The recent regulatory developments are seen as a catalyst for broader adoption of compliant digital financial solutions, positioning the company favorably within the digital asset ecosystem [3][4]
Supreme Court of British Columbia Grants Final Order to WonderFi Approving Acquisition by Robinhood
Newsfile· 2025-07-21 22:40
Core Viewpoint - The Supreme Court of British Columbia has granted a final order approving the acquisition of WonderFi Technologies Inc. by Robinhood Markets, Inc. through its subsidiary Wrangler Holdings Inc. at a price of C$0.36 per share [1][3]. Group 1: Acquisition Details - The acquisition involves WonderFi's common shares being purchased for C$0.36 each, with holders of brokers warrants receiving cash equal to the Black-Scholes value of each warrant prior to the closing [1]. - The acquisition is subject to the satisfaction or waiver of remaining conditions, including final regulatory approvals, and is expected to be completed in the second half of 2025 [3]. Group 2: Regulatory Approval - On July 17, 2025, Robinhood received a no-action letter from the Canadian Competition Bureau, indicating that there will be no application under the Competition Act regarding the acquisition [2]. Group 3: Company Overview - WonderFi is a leader in both centralized and decentralized financial services, managing over $1.7 billion in client assets under custody [6]. - The company aims to provide diversified investment exposure across the global digital asset ecosystem and owns market-leading brands such as Bitbuy, Coinsquare, and Bitcoin.ca [8].
NextGen Digital Expands Cloud AI Hosting & Digital Infrastructure Operations & Provides Corporate Update
Globenewswire· 2025-06-05 11:30
Core Insights - NextGen Digital Platforms Inc. has expanded its fleet of computing workstations for its Cloud AI Hosting business, which has started generating revenue [1][2] - The addition of three new high-performance Nvidia GPU workstations increases the total active GPU fleet to five, enhancing operational cash flows and demand capture in the AI computing sector [2] - NextGen aims to expand into the digital asset ecosystem, including cryptocurrency mining and blockchain infrastructure, leveraging its existing expertise and asset base [3] Company Overview - NextGen Digital Platforms Inc. operates an e-commerce platform (PCSections.com) and a hardware-as-a-service business (Cloud AI Hosting) focused on the AI sector, both developed in-house [4] - The company plans to democratize access to cryptocurrencies by providing exposure to a diversified basket of digital assets through a regulated public vehicle [4] - NextGen is also considering the evaluation and acquisition of other micro-technology platforms to enhance its operational segments [4]
Urbana Corporation Congratulates Tetra Trust Company on Being Selected by Wealthsimple to Provide Digital Asset Custody Services
Globenewswire· 2025-05-23 14:36
Core Insights - Tetra Trust Company has been selected by Wealthsimple to provide digital asset custody services, marking the first Canadian custodian added to Wealthsimple's roster [2][3] - The partnership aims to enhance the digital asset ecosystem in Canada by combining Wealthsimple's consumer platform with Tetra's institutional-grade custody solutions [3] - Urbana Corporation owns 55.6% of Tetra's common shares, indicating a significant stake in the company [4] Company Overview - Urbana Corporation is a diversified entity focused on financial services, information services, and innovative technologies, aiming for income and capital appreciation through public and private investments [5] - Tetra Trust Company, founded in 2019, is Canada's first trust company licensed to custody digital assets, backed by major industry players [6]