Coinbase officially opens its doors to Canadian users
Coinbase officially opens its doors to Canadian users
Cryptocurrency exchange Coinbase has announced the expansion of its presence in Canada through a strategic partnership with Peoples Trust Company.
The exchange will provide its Canadian clients with secure and easy money transfers through the Interac wire transfer service, as well as access to the Coinbase One product, which offers users a number of benefits, including fee-free trading and increased betting revenue.
"Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework," said Nana Murugesan, Coinbase's Vice President of International and Business Development.
A recent survey by the Ontario Securities Commission found that more than 30% of Canadians intend to purchase cryptocurrency within a year, indicating great promise for the Canadian market.
Coinbase has been carefully preparing for this move throughout 2023:
- In March, the exchange signed an expanded pre-registration undertaking (PRU).
- Approved Lucas Matheson as Coinbase's Canadian Country Director.
- Opened a technology hub to support the development of Coinbase products.
- Invested in a number of Canadian startups to foster local innovation and entrepreneurship and to develop technologies that will advance the global crypto economy.
"Coinbase's mission is to reinvent the financial system and bring greater economic freedom to the world," Lucas Matheson, Coinbase's Canadian Director, commented on the exchange's global expansion.
Also read: Bybit suspends some services for users from Hong Kong.
