What is Kevin O’Leary’s Latest Crypto Investment? | WonderFi (WNDR)
Kevin O’Leary knows a thing or two about investments. The entrepreneur has been an early investor to many successful ventures. A trait he is so good at, he stars on the hit TV show Shark Tank. His latest investment allows consumers to gain exposure to the latest craze within the cryptocurrency space: Decentralized Finance (or DeFi). The company he believes has the competitive advantage and saw opportunity to become a strategic investor in is WonderFi Technologies Inc. (which recently started trading on the NEO stock exchange under the ticker symbol NEO: WNDR)
So what is Decentralized Finance?
DeFi is an umbrella term for financial applications that cut the middleman out of traditional finance. The way WonderFi is using the application is for consumers to write their own contracts within the crypto space and have the compliant reporting associated with their investments.
A large reason that crypto has not been adopted by institutions or individuals is because of the lack of infrastructure for compliance. WonderFi provides reporting which includes the yield instrument, capital gain or interest, and remains compliant for the tax jurisdiction investors are within.
One attraction of this proprietary platform for investors is the ease of use and simplified interface. Another, is the exposure and ability to earn interest on crypto holdings. WonderFi has a large portfolio of crypto currencies (such as the main suspects: Bitcoin (BTC) and Ethereum (ETH)). Lastly, WonderFi is also actively looking for valuable assets to acquire.
Another competitive advantage of WonderFi has a clue in its name. Using the Mr. Wonderful effect and his large following, notoriously difficult consumer acquisition becomes slightly easier.
Will you follow Kevin O’Leary into DeFi? Watch the full interview with Mr. Wonderful to understand exactly what DeFi is and how WonderFi operates in the space.