WonderFi Technoloies Inc. (OTCQB:WONDF) agreed to acquire Blockchain Foundry Inc. (OTCPK: BLFDF), a blockchain development firm, in an all-stock deal.

The transaction is reportedly valued at about C$12.6 million (US$9.5 million), according to Beta Kit.

In June, WonderFi told Benzinga that its focus is on regional dominance, international offense, and community development.

By acquiring Blockchain Foundry, WonderFi further exposes itself to “more accretive assets” that it can leverage in building a solid foundation for growth across NFTs and beyond.

“This acquisition further solidifies WonderFi as the Canadian leader in the digital asset space,” said Ben Samaroo, CEO of WonderFi.

BCF is "on a great trajectory,” Samaroo said. The acquisition has the “potential to compliment [WonderFi’s] core operating crypto asset trading platforms Bitbuy and Coinberry, while also adding cash, liquid assets, and a portfolio of private emerging crypto investments to WonderFi’s balance sheet," he added.

Blockchain Foundry CEO Dan Wasyluk praised the WonderFi team, its “complementary product mix” and its “deep expertise in Web3.”

“There are numerous operational and consumer synergies which we can capitalize on to enhance opportunities across a range of Web3 experiences,” Wasyluk added.

Earlier this year, BCF launched LastKnown, an NFT minting platform and marketplace for NFT drops. In May, BCF launched a beta version of Metacademy, a learn-to-use environment for crypto.