Coinbase enters Canada, Shibarium faces post-launch hurdles, adoption maintains momentum

This week, Coinbase expanded. Shiba Inu’s Shibarium had a rough debut, while crypto adoption maintained momentum, with the Fed and Coca-Cola grabbing headlines. Meanwhile, the crypto market saw significant liquidations.

Coinbase extends services to Canadians

Coinbase warmly embraced its northern neighbors, throwing open its doors to the citizens of Canada. Starting on Aug. 14, the San Francisco-based exchange extended its services to Canadians.

The decision came with an innovation: a partnership with People’s Trust Company to integrate Interac e-Transfers. This strategic move is poised to optimize transaction efficiency for users in Canada.

In an additional stride, the exchange unveiled the exclusive “Coinbase One” membership for fresh Canadian sign-ups, presenting them with a 30-day trial window to delve into the offerings of the platform.

Days after entering Canada, Coinbase revealed its future plans for certain stablecoins in the Canadian market. Starting September 2023, USDT, DAI, and RAI will be exiting the trading scene on Coinbase for its Canadian users.

It appears the crypto platform’s expansion came with a fine print, catching some enthusiasts off guard. According to Coinbase, a review of assets is just part of the routine, ensuring all listings meet the standards.

However, while the trading doors are slowly closing, Canadian users still have a grace period to engage in deposits and withdrawals of these stablecoins up until September.

Coinbase now offers crypto futures

In what appears to be a well-choreographed sequence, Coinbase received a courteous nod from the National Futures Association (NFA) to offer futures trading to U.S. customers days after expanding to Canada.

Now, Coinbase’s subsidiary, Coinbase Financial Markets Inc., is set to play the role of a futures commission merchant (FCM), paving the way for customers in the U.S. to indulge in crypto futures trade on America’s largest exchange.

Coinbase vice president of institutional product Greg Tusar labeled this development as a “critical milestone.” T

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Author: Wahid Pessarlay

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