Coinbase expands into Canada with key partnership

August 15, 2023 12:25 AM AEST | By Invezz

Coinbase expands into Canada with key partnership — Image source: Invezz

Coinbase enhances commitment to Canadian market

Today’s announcement by Coinbase follows the company’s recent steps to boost its crypto business in the Canadian market. This includes the signing of an enhanced Pre-Registration Undertaking (PRU) with regulators in March this year as it looked to comply with local regulatory requirements.

The exchange also hired Lucas Matheson as its Country Director for Canada and built a technology hub with roughly 200 full-time employees. Meanwhile, the exchange’s investment unit Coinbase Ventures invested in multiple Canadian start-ups, including Dapper Labs, Minerva AI, Axelar, and Zapper.

Expansion into Canada comes as Coinbase continues to battle for regulatory clarity in the US. It faces a potential court battle against the US Securities and Exchange Commission (SEC), which sued Coinbase alongside Binance in June.

Binance exited the Canadian market in May, citing the regulatory environment.

The post Coinbase expands into Canada with key partnership appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.