Crypto exchange behemoth, Coinbase, is extending its reach to the Arctic with its recent official introduction to Canada, throwing in features such as a 30-day free use of Coinbase One and zero trading fees. Monday’s announcement showcases Coinbase’s commitment to treating Canada as a priority market to “Go Deep,” driving up sales through meaningful interactions with existing customers. For Canadians, a trusted relationship with a known vendor often appeals due to the reduced possibility of risk.
Collaborating with Peoples Trust Company, a Vancouver-based financial services institution, Coinbase now provides all Canadians with Interac e-Transfers, simplifying the process of money transfers and making cryptocurrencies more reachable. The exchange’s VP, International, and Business Development, Nana Murugesan, articulates their intended impact of their next Go Deep Market; helping Canadians tap into cryptocurrency benefits. The decision follows observed indices of high cryptocurrency awareness levels, a budding local tech ecosystem, and the nation’s move towards an established regulatory framework. This constitutes a ripe environment for crypto exchanges and businesses. Other platforms, however, like global crypto exchange titan Binance, are retreating from Canada due to new guidance on stablecoins and investor limits.
Coinbase’s promise to Canada entails a bundle of added features, including Coinbase One’s month-long free use, complimentary trading, increased staking rewards, prioritized 24/7 support, and more. Coinbase One membership now unlocks the door to the fullest potential of crypto for Canadian users, marking the official integration of Interac e-Transfers – the “most requested feature by Canadians.” Deposits to Coinbase can now be made through Interac e-Transfer with ease and speed, free of charge. As a matter of fact, over 50% of deposits made in the past month have been through Interac e-transfer, the announcement added.
Coinbase’s expansion into Canada chimes in harmony with its international growth ambitions, which seem to be largely undeterred by ongoing charges against the company from the U.S. Securities and Exchange Commission (SEC) for acting as an unregistered securities exchange. The current CEO, Brian Armstrong, attests to his pride in their representation of the industry in court for the sake of achieving some regulatory clarity.
In the context of Coinbase’s “Go Broad, Go Deep” strategy, revealed earlier this year in March and aimed at spreading their presence across six continents, this latest move is just one more significant milestone in their journey of global expansion. Presently, Coinbase is the proud employer of nearly 200 full-time workers in Canada, establishing it as their most significant tech hub outside of the US.
Source: Cryptonews
