Coinbase, a trading platform previously only available in the US, has now expanded its operations to Canada.
The company has partnered with Peoples Trust Company to include Interac e-Transfers as a payment option for Canadian users, making transactions smoother. Recent data shows that many users are using Interac e-Transfers for deposits.
Coinbase has also introduced its Canadian customers to the “Coinbase One” membership. New members can enjoy a free 30-day trial to experience these services. Coinbase’s decision to enter the Canadian market stems from the country’s evolving stance on cryptocurrency.
Nana Murugesan, the VP of international and commercial development at Coinbase, points out that Canada’s tech-savvy population and evolving regulations are key factors. Murugesan said in their statement to investors.:
“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,”
The exchange has aligned with Canadian regulatory frameworks by signing a Pre-Registration Undertaking earlier this year. This move has positioned Canada as a significant Coinbase location outside of the US. Lucas Matheson has been appointed as the Canadian Country Director, among other strategic steps taken in the region.
