Canada’s Crypto CEO Reveals Why Aussies Might Be Cooler Than Us (And His Secret Fear)

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What to know:

  • WonderFi wants to smash together centralized finance and crypto’s wild west—using something called “zkSync-powered Layer-2,” which sounds a bit like a sci-fi beach drink but with fewer umbrellas.
  • They’re expanding to Australia, because apparently, that’s where the cool regulators hang out 🦘.
  • WonderFi CEO Dean Skurka says Canada’s crypto rules are so earnest and cautious, they’ve driven all the fun offshore. (We Canadians will eventually invent the fun, politely, and then overregulate it until it begs for mercy.)

Once upon a time, Dean Skurka entered Bitbuy, a name that sounds like an energy drink for accountants. There were only four employees, a few users, and enough trading volume to barely buy a mid-2000s Honda Civic. Flash forward: Skurka’s orchestrated a merger-palooza, and now presides over WonderFi, where 1.7 million accounts collectively guard $2 billion as if it’s the last maple syrup on Earth.

So what do you do when you’ve conquered the polite crypto north? You pack your bags for even better weather Down Under. Apparently, Australia has “regulatory clarity,” which just means you’re less likely to get an angry email from someone named Brenda in Ottawa.

Skurka recently gave CoinDesk the inside scoop, all ahead of his star turn at Consensus 2025 in Toronto. Because nothing says “trendsetter” like flying to a conference in a city where the WiFi is as polite as the people. Here’s a curation of their chat, edited down to remove the bits where everyone nods earnestly about “alignment.”

Layer 2: Now with More Layers!

In February, WonderFi announced their masterplan to roll out a Layer 2 blockchain. If you aren’t sure what that means, don’t worry—it’s a bit like putting a second hat on your head, then telling everyone the extra hat will make you richer, if you just wait for “utility” to arrive.

Skurka insists WonderFi’s version comes without all the hype (no confetti, no airdropped magic beans). Instead, their long-term play will focus on hackathons and “ecosystem support,” which is Silicon Valley-speak for “group projects where no one showers.”

Centralized vs Decentralized: It’s Like Your Mom and the Neighbor’s Kid

Ask Skurka about competition, and he’ll remind you: Decentralized exchanges aren’t competitors. They’re more like that neighbor’s kid who borrows your toys, only to lose half of them in the sandbox, while your mom figures out who’s responsible.

“We’re not just about building a bridge to on-chain DeFi, we’re making both sides shinier and—just maybe—impressing our parents along the way,” says Skurka. Someone, somewhere, is definitely disappointed that neither side will ever become a real bank. But who needs bank hours, anyway?

Crypto: The Canadian Struggle (We Invented It, Then Apologized)

Fun fact: Canada gave the world Ethereum and the first bitcoin ETF. Predictably, we then regulated the life out of the party, causing half the innovators to book flights to anywhere with sunlight and looser rules.

WonderFi, ever the optimist, has been sitting down with government officials to pitch guidelines that won’t immediately bankrupt anyone with a new idea. Says Skurka: “We’re hoping people will stay and build products here, or at least send us a postcard.”

Lately, institutional investors in Canada—you know, the coldest private equity folks in existence—are showing interest in crypto. If that won’t warm your maple-syrup heart, nothing will 🥶🍁.

Australia: The Promised Land (With Kangaroos)

If you’re at the top of Canadian crypto, where else do you go? Australia, of course. Regulations are clear, the sun is out, and you might get to say “mate” on a business call. Skurka calls Australia a great “initial target.” I call it: a thinly veiled excuse for a business trip.

The Sleep-Deprived CEO and the Volatility Circus

Crypto never sleeps. Neither, apparently, does anyone running a crypto exchange. Volatility is the boogeyman keeping CEOs like Skurka up at night—that, and the existential horror of yet another “urgent” Slack notification.

“We’re used to craziness,” he says, clearly one heartbeat away from mainlining espresso. “Our team understands 24/7 insanity and, honestly, we kind of like it.”

Moral of the story? Stay caffeinated, wear your second hat proudly, and if you ever end up at a Canadian crypto conference: bring your own maple syrup, just in case.

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2025-04-29 20:18