11:47 AM EDT, 03/19/2024 (MT Newswires) -- WonderFi Technologies Inc. ( WONDF ) said Tuesday that it has agreed to buy FX Institutions Pty. Ltd. in a non-dilutive transaction.

FXI is registered in Australia to offer crypto trading and payment remittances within the region.

Through FXI, WonderFi ( WONDF ) will launch over-the-counter trading services in Australia in the second quarter, with plans to introduce a suite of offerings for retail and institutional traders in the third quarter.

Tim Lo, who was recently named head of sales in the Asia-Pacific region, will lead the go-to-market strategy in Australia.

The company's shares fell 2% on last look on Tuesday.