DeFi Technologies Partners with CoreFi and Orinswift for Reverse Takeover
Deal News | Feb 04, 2025 | PR Newswire Cision DeFi Technologies Inc.
DeFi Technologies Inc. has announced a binding agreement with CoreFi Strategy Corp. and Orinswift Ventures Ltd., a move that will enable a strategic reverse takeover resulting in the listing of shares on the Cboe Canada Stock Exchange. This agreement is a critical step towards the growth of CoreFi with the support of a $20 million CORE-token contribution from the Core Foundation. DeFi Technologies, a firm at the forefront of merging traditional capital markets with decentralized finance, sees this transaction as crucial in positioning CoreFi as a leader in Bitcoin Finance (BTCfi). CoreFi Strategy expands upon successful models like MicroStrategy, offering a regulated, leveraged approach to generating Bitcoin yields. This strategic collaboration aligns with CoreFi's plans to secure an additional $20 million to boost its technological capabilities. Through this reverse takeover and combined with Core's pioneering blockchain innovations, the parties aim to consolidate their expertise and capture opportunities within the rapidly growing BTCfi market.
Sectors
- Financial Technology
- Cryptocurrency and Blockchain
- Investment and Mergers & Acquisitions
Geography
- Canada – The transaction involves Canadian companies, and the resulting entity plans to list on the Cboe Canada Stock Exchange.
- Global – The strategic initiatives and technological innovations discussed have global implications, impacting the broader cryptocurrency markets.
Industry
- Financial Technology – The article discusses DeFi Technologies and its role in decentralized finance (DeFi), highlighting innovations and strategic partnerships in fintech.
- Cryptocurrency and Blockchain – CoreFi Strategy's focus on Bitcoin Finance (BTCfi) exemplifies advancements in blockchain technologies and cryptocurrency sectors.
- Investment and Mergers & Acquisitions – The strategic reverse takeover and financial commitments made align this article with investment and M&A activities.
Financials
- $20 million – CORE-tokens commitment made by the Core Foundation to support CoreFi.
- $20 million – Planned simultaneous funding by CoreFi to accelerate growth in Bitcoin Finance technologies.
- $850 million – Total Value Locked (TVL) within the Core ecosystem.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DeFi Technologies Inc. | Participating Company | Company | A financial technology company leading the convergence of traditional markets and decentralized finance. |
| CoreFi Strategy Corp. | Target Company | Company | A private company focused on developing BTCfi technologies for scaling digital assets. |
| Orinswift Ventures Ltd. | Bidding Company | Company | A venture company exploring business opportunities aligned with tech-driven market trends. |
| Core Foundation | Financial Contributor | Charity | Committed $20 million in CORE-tokens to enhance the financial position of CoreFi. |
| Olivier Roussy Newton | CEO | Person | CEO of DeFi Technologies, involved in shaping strategic partnerships. |
| Rich Rines | CoreFi Personnel | Person | Worker at CoreFi, commenting on strategic approaches. |