Humble beginnings and a simple plan indeed. Almost a decade later, there is no denying that Coinmama has proven its staying power within the crypto industry. But today, Coinmama has much bigger plans.
Coinmama has long provided it’s customers with a simple and safe way to buy and sell bitcoin and other cryptocurrencies. The landscape of crypto has changed dramatically in recent years, however, and the average consumer today is more educated and informed. This means they are often looking to do more than simply purchase BTC.
The world of decentralized finance (DeFi) didn’t exist when Coinmama was founded in 2013. Today there are a host of DeFi services at the fingertips of anyone who wishes to avail of them. Borrow. Lend. Insure. You name it.
In 2022, Wellfield Technologies merged with Coinmama and, in doing so, joined forces with one of cryptocurrency’s most trusted and lasting brands. Now, Coinmama will integrate Wellfield’s Seamless DeFi protocol, transforming itself into a multi-product platform, offering cutting edge DeFi services while maintaining an emphasis on self-custody. Coinmama’s established infrastructure will also allow Wellfield’s MoneyClip app to reach a much wider customer base, not just in Canada where it currently operates, but globally.
So, while Coinmama customers will still be able to simply purchase bitcoin and other top cryptos, they’ll also be able to do much, much more.
This is an exciting coming together of two organisations who are aligned in their ambitions to facilitate the rapid growth and adoption of crypto and DeFi. And that is exactly what they intend to do by integrating Wellfield’s DeFi products into the Coinmama platform and making them available to their more than 3.5 millions of active users.
Chief Strategy and Business Development Officer of Wellfield, Chanan Steinhart, put it best when he said “Together, we are even better positioned to build a sector-defining company that unlocks the power of DeFi and makes accessibility and adoption easy for both individuals and institutions.”