Wellfield Technologies

Wellfield Technologies is a publicly-traded DeFi services company that was formed as the result of a merger between Seamless and Moneyclip in 2020. It offers both Seamless and Moneyclip as integrated solutions built on Ethereum. Seamless is a set of DeFi protocols used to shift liquidity from Bitcoin to Ethereum, exchange or swap assets across chains, and optimize liquidity pools on decentralized exchanges by leveraging impermanent loss. Moneyclip is a DeFi wallet that enables users to link their banks and provides financial services such as savings, borrowing, and merchant solutions.

In May 2022, Wellfield Technologies acquired Coinmama, a Dublin-based cryptocurrency exchange, for USD 3 million in a share purchase agreement. Wellfield planned to leverage this acquisition to integrate its own DeFi services onto the platform, monetize Coinmama’s user base, facilitate growth within Canada, and expand its employee base with the addition of 50 members of Coinmama’s team.

Wellfield went on to acquire Tradewind Markets, a blockchain-based gold tokenization platform, for an undisclosed sum, in February 2023. It planned to integrate Tradewind’s blockchain system, which enables the ownership of institutional gold held by the Royal Canadian Mint, to develop an Ethereum-based ecosystem of financial products. In December 2023, the company announced plans to launch a suite of gold-based decentralized financial services , such as decentralized spot trading, using technology acquired from Tradewind Markets.

In July 2023, the company went on to acquire Brane Trust , a Canadian crypto custody firm, for around USD 10 million. The deal enabled to add Brane’s custody services to its portfolio of crypto products and receive revenue from custody fees. Furthermore, the company also acquired a 9.7% stake in Bosonic, a digital asset trading, clearance, and settlement solutions provider during the same period. The company leveraged Bosonic’s risk mitigation solutions to improve its own service offering and receive access to digital asset securities via Bosonic's US broker-dealer and Alternative Trading System ("ATS") license.

Key customers and partnerships

In February 2024, Wellfield Technologies partnered with Fireblocks to strengthen various aspects of its offerings from Coinmama, Brane Trust, and Tradewind. Through this partnership, Wellfield planned to incorporate: 1) Fireblocks' tokenization technology to further secure its tokenized gold ecosystem, 2) its wallets-as-a-service solution to provide users of Coinmama's Mobile App access to DeFi projects with institutional grade non-custodial security, and 3) its crypto and DeFi treasury management solution to provide Brane Trust's institutional customers access to regulated custody services.