When Dean Skurka joined Bitbuy in 2018, the platform had only four employees, a few thousand users, and about $25 million in trading volume. Fast-forward to today, Skurka now oversees WonderFi: A company that’s consolidated multiple Canadian exchanges, boasts 1.7 million accounts, and guards $2 billion in client assets.
But Skurka isn’t just sitting on a domestic empire—he’s building outward.
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Dean Skurka is a speaker at Consensus 2025 in Toronto May 14-16.
In a conversation with CoinDesk, WonderFi’s president and CEO, Dean Skurka, detailed his company’s next chapter: launching a Layer-2 blockchain in partnership with zkSync and expanding into Australia, a country he says “checks both boxes” of regulatory clarity and strong adoption. He also discussed the outlook for centralized exchanges and how Canada’s crypto landscape is changing.
Here is an edited and shortened version of his conversation with CoinDesk, ahead of his appearance at Consensus 2025 in Toronto.
The centralized exchange said in February that it is launching a Layer 2 blockchain based on ZKsync to connect its users to decentralized finance (DeFi).
“When we think about the long-term trend across the industry, we see a really strong synergy between centralized exchanges, where the users are originating or the assets are originating, and giving them a seamless bridge to everything that’s happening on chain today.”
Skurka says WonderFi’s knowledge of running trading platforms, regulatory credibility, and asset base gives it an edge over a plethora of other Layer 2s connecting DeFi.
Unlike some other rival Layer 2 chains launched with splashy token incentives or VC hype, Skurka says WonderFi’s approach is more grounded and long-lasting. It plans to foster long-term use through builder incentives, hackathons and ecosystem support.
Rather than viewing decentralized exchanges as competitors for centralized exchanges, Skurka sees them as extensions. Centralized exchanges provide the bridge for first-time users to go from buying and selling crypto on regulated and trusted platforms to on-chain activities that open up more innovative new products that exist in the crypto ecosystem.
“[Centralized exchanges] are building out the components that will allow their users to seamlessly interact on chain, but at the same time building up the the capabilities on the exchange side to look more akin to traditional financial service products, which we think will create incremental value on both sides over the next 5 to 10 years,” he said.
WonderFi is a dominant exchange in Canada, and able to observe how the crypto landscape is changing in the country.
Canada has a strong crypto history—Ethereum and the first spot bitcoin ETF were both born there. It was also one of the first countries to have a regulatory framework for crypto trading platforms.
“Some of the more innovative products and services that exist within this space have moved offshore or outside of Canada because of the lack of clarity around those products and services,” he said, pointing to products such as DeFi applications, Layer 2 blockchains and derivatives.
WonderFi is now aiming to change that, after working closely with Canadian regulators to create trading and staking guidelines.
“We are working hand in hand with regulators to give them comfort on some of these newer, more innovative products and services, and hopefully that will encourage entrepreneurs, builders, developers, to really stay in Canada and build products with confidence,” Skurka added.
And with the U.S. now becoming more open to crypto and many exchange-traded funds open to investors, the mindset in Canada is starting to shift as well. WonderFi, which has been a mostly retail-dominated platform, is now seeing interest from Canadian institutional investors such as family offices and private equities who want exposure to digital assets.
“I think that’s been a really big shift over the last year, and that’s something [institutional investors’ interest] that we expect to really accelerate in the next few years,” Skurka said.
Skurka isn’t stopping at Canada; he is looking to expand his company’s reach to other regions, starting with Australia—a country Skurka describes as having “clear, concise regulation” and a strong crypto adoption rate.
“Australia was a really good market for us to target initially, and from there, we’ll really look for other markets,” Skurka said.
Like the crypto’s 24/7 nature, a CEO’s job in this fast-paced industry is never done.
In Skurka’s case, it’s exactly what keeps him up at night: volatility— something that shapes the industry perception and sentiments.
“It’s probably just the short-term volatility that really impacts the outlook on the business and has an impact on the users, the staff, and the team morale. And so it’s really just something that we really look to to balance as best we can,” Skurka said.
But having been in the industry since 2018 and navigating extreme ups and downs, he’s learned to ride out the volatility.
“I think we have a really good handle on it, and we’ve got a really strong team that understands the 24-hour nature of this business—the volatility of this business—and we’re in a really good spot,” Skurka added.
