Coinbase has officially entered the Canadian market in partnership with Peoples Trust Company, taking advantage of the country’s favorable crypto regulations.
Coinbase has launched its services in Canada by teaming up with Peoples Trust Company, allowing users to utilize Interac e-Transfers. As part of their expansion, Coinbase is offering a 30-day free trial of Coinbase One, with no trading fees, increased staking rewards, and round-the-clock priority support. This move is aimed at establishing a stronger presence in Canada, capitalizing on the country’s crypto-friendly regulations.
Coinbase Expands to Canada Due to Favorable Crypto Regulations
Cryptocurrency exchange Coinbase has extended its services to Canada and introduced new features to cater to the Canadian market. The company sees Canada as an important market and is working to help Canadian users enjoy the benefits of cryptocurrencies.
Nana Murugesan, Coinbase’s Vice President of International and Business Development, highlighted Canada’s potential in the crypto world due to its increasing awareness about cryptocurrencies, active tech community, and developing regulatory environment.
Coinbase has partnered with Peoples Trust Company, a division of Peoples Group, to provide Canadian users with access to Interac e-Transfers. This partnership aims to enhance the security and convenience of transactions, making cryptocurrencies more accessible to many Canadians. Interac e-Transfer has been highly requested among Canadian users and accounts for half of the deposits in the past month.
Additionally, Coinbase has ambitious plans to expand its presence in Canada. The country ranks second in terms of crypto awareness among Coinbase’s global markets. A recent survey by the Ontario Securities Commission reveals that over 30% of Canadians plan to buy cryptocurrency in the coming year. This reflects the growing interest and potential for crypto adoption in Canada.
Coinbase Asks US SEC for Regulatory Clarity
Coinbase Requests Dismissal of US SEC Lawsuit, Senator Lummis Supports. Coinbase has submitted a legal motion to dismiss the lawsuit by the US SEC, asserting that crypto is beyond the regulator’s jurisdiction. Senator Cynthia Lummis also backed the dismissal with an amicus brief.
In pre-market trading, COIN stock rose by a slight 0.51%, reaching $81.42. The stock had experienced a decline following its second-quarter results.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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