WonderFi Labs, one of the biggest crypto companies in Canada, is expanding its reach by integrating with ZKsync. This move introduces a new Layer 2 blockchain called ZK Chain and a non-custodial wallet designed to make decentralized finance more accessible.
Built on ZKsync’s Elastic Network, these products aim to lower costs and improve scalability. With its strong presence in both centralized and decentralized finance, WonderFi’s expansion onto ZKsync is expected to bring more users and increase activity across the ecosystem.
What is WonderFi Labs
WonderFi Labs is the innovation and development division of WonderFi, a company focused on creating financial products that bridge centralized and decentralized finance.
WonderFi operates some of Canada’s most well-known crypto platforms, including Bitbuy, Coinsquare, and SmartPay.
These platforms provide a range of services such as crypto trading, staking, payments, and custody solutions. With over 2.4 billion dollars in client assets under custody as of January 2025, WonderFi is one of the largest crypto firms in Canada.
The company has shown strong financial growth, reporting estimated revenue and interest income between 7.75 million and 8.25 million dollars for January 2025.
Trading activity has also increased, with Bitbuy and Coinsquare facilitating over 543 million dollars in combined trading volume, representing a 44% rise from the previous quarter.
User engagement is expanding, with more than 127,000 monthly active users in January and over 20,000 new sign-ups, marking a 25% increase from the fourth quarter’s monthly average.
WonderFi has built a strong reputation by ensuring regulatory compliance while expanding its suite of products.
Through its centralized exchanges, it serves retail and institutional investors, while its decentralized solutions enable users to interact with blockchain technology without needing extensive technical knowledge.
The company also owns Tetra Trust, Canada’s only qualified custodian for digital assets, reinforcing its role in securing crypto investments within a regulated framework.
WonderFi Labs was established to focus on blockchain innovation. This division is responsible for developing new technologies that improve accessibility to decentralized finance.
The introduction of WonderFi’s Layer 2 blockchain and non-custodial wallet marks a significant step toward reducing the barriers to entry for new users.
By leveraging Ethereum’s security and ZKsync’s scalability, WonderFi Labs aims to create an ecosystem where transactions are faster, more affordable, and easier to navigate for users at all experience levels.
WonderFi’s New Product on ZKsync
WonderFi’s latest products built on ZKsync’s Elastic Network include a Layer 2 blockchain called ZK Chain and a non-custodial digital wallet. These tools are designed to enhance user experience by reducing fees and improving transaction speeds.
ZK Chain provides an environment where financial applications can be built and scaled without the high costs typically associated with blockchain networks.
The WonderFi Wallet allows users to store and transfer assets without dealing with complex gas fees or network limitations.
ZK Chain takes advantage of ZKsync’s security model while offering a more efficient and affordable transaction process.
This blockchain is designed to support decentralized applications that require high-speed transactions, making it a practical choice for lending, borrowing, staking, and decentralized trading.
Unlike traditional blockchain networks that can experience congestion and high fees, ZK Chain ensures a smoother experience by handling a larger volume of transactions at a lower cost.
The WonderFi Wallet is another key part of this expansion. This non-custodial wallet allows users to interact with decentralized applications without the typical barriers that come with using blockchain-based financial services.
By eliminating upfront gas fees and providing a seamless user experience, the wallet makes it easier for people to start using DeFi without needing technical expertise.
Users can perform basic transactions for free while also accessing premium features when needed. The goal is to remove the complexities that often discourage new users from engaging with decentralized finance.
More Volume on ZKsync
WonderFi’s integration with ZKsync is expected to drive a significant increase in transaction volume across the network.
With millions of users and billions of dollars in assets, WonderFi is one of the largest crypto platforms in Canada, and its expansion into ZKsync will likely bring more liquidity to the ecosystem.
As more users interact with decentralized applications through WonderFi’s products, the demand for ZKsync’s network will continue to grow.
One of the key advantages of this integration is the ability to process transactions at a lower cost while maintaining Ethereum’s security.
High transaction fees have been a major challenge in the crypto space, limiting accessibility for many users.
By leveraging ZKsync’s technology, WonderFi can provide an affordable solution that benefits both new and experienced users.
This means that decentralized finance applications built on ZK Chain can operate more efficiently without being restricted by high costs or slow transaction speeds.
Another benefit of this expansion is that it encourages further development within the ZKsync ecosystem.
Developers looking to build blockchain applications will have access to a broader user base through WonderFi’s platform.
This will likely attract more projects to ZKsync, contributing to the network’s long-term growth. As more financial services are built on ZK Chain, the overall ecosystem will become more robust, offering users a wider range of DeFi products and services.
WonderFi’s decision to integrate with ZKsync reflects a larger trend in the crypto industry, where companies are shifting toward Layer 2 solutions to improve efficiency.
The ability to process transactions faster and at a lower cost makes these solutions more practical for mainstream adoption.
With WonderFi leading the way, ZKsync is positioned to become one of the most widely used Layer 2 networks in the crypto space.
Conclusion
WonderFi’s integration with ZKsync is an important step toward making decentralized finance more accessible to a global audience. By launching ZK Chain and the WonderFi Wallet, the company is simplifying how people interact with blockchain technology.
Lower fees and improved scalability mean that more users can access financial tools without dealing with high costs or complex processes.
This development benefits both WonderFi and the broader crypto community. As more users adopt these products, the impact on ZKsync’s ecosystem will become increasingly clear.
More liquidity, better accessibility, and stronger infrastructure will help drive the adoption of decentralized finance on a larger scale.
