The cryptocurrency platform has integrated Interac e-Transfers to enable smooth transactions
Coinbase has officially launched in Canada and says the country can become a global leader in cryptocurrencies.
The crypto platform has partnered with Peoples Trust Company, part of Peoples Group, to enable Interac e-Transfers for Canadian crypto holders which makes moving funds in and out of users’ crypto accounts simpler and secure. Interac integration was the most requested feature by Coinbase’s Canadian users.
Canada is a ‘go deep’ market for Coinbase following its signing of an enhanced pre-registration undertaking (PRU) with regulators in March this year.
Recently, Canada’s securities regulators published guidelines for investment fund managers to be clear on what is expected of them regarding holdings of cryptocurrency assets.
The firm says it is working with regulators and policymakers to ensure that Canada has a strong regulatory framework which could become a blueprint for global jurisdictions.
“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, Vice President, International and Business Development, Coinbase. “As Coinbase’s next Go Deep Market, we are making significant investments to help Canadians access the benefits of cryptocurrency.”
Investing in Canada
Coinbase has invested heavily in the Canadian market with the building of a 200-strong tech hub, its largest outside of the US. It also hired passionate crypto advocate Lucas Matheson as the firm’s country director, and its venture arm is backing several startups in the Canadian crypto ecosystem.
“At Coinbase, our mission is to update the financial system and bring greater economic freedom to the world,” said Lucas Matheson, Canada Country Director, Coinbase. “We’re thrilled to be leading this push and helping drive innovation in Canada’s financial system.”
