Crypto exchange Coinbase has expanded to Canada through a partnership with Peoples Trust Company to provide access to the Interac e-Transfers to its users in the country. Coinbase is offering 30-day free use of Coinbase One, zero trading fees, boosted staking rewards, and priority 24/7 support as it plans to expand deeply in Canada amid crypto-friendly regulations.
Crypto exchange Coinbase announced its expansion in Canada and starts new offerings that demonstrate its commitment to Canada as a priority Go Deep market, as per a press release on August 14.
Nana Murugesan, vice president of international and business development at Coinbase, said:
“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. As Coinbase’s next Go Deep Market, we are making significant investments to help Canadians access the benefits of cryptocurrency.”
Coinbase partners with Peoples Trust Company, part of Peoples Group, to provide access to Interac e-Transfers to all users in Canada. It will make transactions secure and simpler, making cryptocurrencies more accessible to millions of Canadians. Interac is the most requested feature by Canadian users, with 50% of deposits made through Interac e-transfer in the last month.
In addition, Coinbase plans to expand deeply in the country as it’s the second-most crypto-aware country for Coinbase’s international markets. More than 30 percent of Canadians will buy cryptocurrency within the year, as per a recent Ontario Securities Commission survey.
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Coinbase filed a motion to dismiss the US SEC lawsuit alleging that the regulator acts outside its oversight border and crypto doesn’t fall under SEC oversight. Senator Cynthia Lummis submitted an amicus brief in favor of the Coinbase vs SEC lawsuit dismissal.
COIN stock price is up just up 0.51% in pre-market hours, at the price of $81.42. COIN prices fell after the second quarter results.
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