Coinbase has announced its official entry into the Canadian market in a strategic move that involved the integration of Interac payment rails.
Expanding Horizons: Canada as a Crypto Hub
On Monday, Coinbase executives Nana Murugesan and newly-appointed Lucas Matheson penned a joint announcement declaring Coinbase’s decision to venture into Canada’s crypto landscape.
The statement also addressed the various factors why Canada was chosen as the next Coinbase outpost, calling it the world’s third-most crypto-aware nation, with a thriving local tech ecosystem that firmly positions it as a potential global leader in the crypto-economy. The duo pulled up the Ontario Securities Commission’s survey highlights, which revealed that over 30% of Canadians are gearing up to explore crypto assets within the year.
Pioneering Innovations for Canadians
According to the statement, Coinbase will be presenting a slew of innovative offerings to cater to the Canadian market. The integration of Interac payment rails takes center stage as it would enable Canadian users to effortlessly deposit and withdraw funds (CAD) to and from their Coinbase wallets in an attempt to make the crypto experience more accessible to Canadians.
They also revealed the launch of Coinbase One, which is being touted to feature benefits like a 30-day trial period, zero trading fees, enhanced staking rewards, and priority support.
Coinbase Appoints New Canada Director
In March 2023, Coinbase appointed Lucas Matheson as the Country Director for Canada. Matheson, who has experience leading operation and financial teams, will be focusing on Coinbase’s offerings for Canadians by working with partners, government, and regulators.
On the regulatory front, the company has also signed an Enhanced Pre-Registration Undertaking in order to highlight its dedication to regulatory compliance.
The firm has almost 200 full-time employees at the Canadian tech hub, thus making the most of local talent and fostering a user-centric platform tailored to Canadian citizens.
Other Crypto Firms In Canada
Other leading crypto firms have also turned to Canada, especially in the wake of growing regulatory uncertainty in the United States. Crypto ex
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Author: Amara Khatri
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