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  • Writer's pictureJamal Saafir

Coinbase Expands into Canada

Updated: Aug 30, 2023

Per Coinbase’s official announcement page, Coinbase has officially launched in Canada.

In their unwavering effort to reshape the global financial system and encourage economic empowerment, Coinbase is steady in its commitment to introducing innovative products that promote crypto adoption. While their voyage towards transparency and compliance forwarded them to becoming a publicly traded company in the United States, their vision goes beyond borders. On August 14th, they proudly announced a crucial milestone in their international expansion plan – their official launch in Canada.

“March '23 marked a significant milestone, as we welcomed Lucas Matheson as the Country Director for Canada, and signed an Enhanced Pre-Registration Undertaking, honoring our dedication to regulatory compliance and operational excellence.”, stated Coinbase.

In the announcement, Coinbase explained that it chose Canada as its most recent launch point due to Canada being the “third-most crypto-aware nation”, its “enthusiastic local tech ecosystem”, “its strides towards a robust regulatory framework”, and its perception of Canada as “a potential global cryptoeconomy leader”.

“Today we’re making several exciting announcements together with local banking and payment partners that will help make crypto more accessible to millions of Canadians: first, we are expanding our offerings in Canada with the completed roll-out of Interac payment rails, empowering all Canadian Coinbase users to seamlessly deposit and withdraw funds (CAD) to and from their Coinbase wallets through Interac e-transfers.”, the announcement read.

Coinbase has taken a series of steps to grow in the Canadian market. Some of these recent steps have been “collaborating with Canadian regulators to cultivate a policy framework that serves as a global benchmark, “engaging with Canadian banks, investment advisors, and pension funds”, “fostering a user-centric Canadian tech hub” along with employing “200 full-time local employees” in an effort to double-down on their Canadian presence and through Coinbase Ventures, they’ve nurtured local startups that contribute to innovation, entrepreneurship, and technological advancement.

Coinbase concluded the announcement stating, “Coinbase's Canadian expansion heralds a new era of possibilities for crypto enthusiasts across the nation. As Canadians eagerly embrace the potential of cryptocurrencies, our foray into the Canadian market stands as a pivotal milestone in our mission to bring the most trusted name in crypto around the world,

revolutionize the financial landscape and empower individuals with economic freedom

on a global scale.”

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