Coinbase, founded in 2012 with an idea that anyone, anywhere, should be able to send Cryptocurrency and receive Bitcoin easily and securely, announced its Canadian expansion with an alliance with Interac e-Transfer.
Through its partnership with Peoples Trust Company, part of Peoples Group, Coinbase is now providing access to Interac e-Transfers to 100% of Canadian Coinbase users, making it secure and simpler than ever to move money in and out of your account. This will make cryptocurrencies more accessible to millions of Canadians.
Interac availability was the most requested feature by Canadian users, and today’s news demonstrates Coinbase’s plan to build a platform that is for Canadians, by Canadians. Depositing funds to Coinbase using Interac is free and almost instant. In the last month, over 50% of deposits have been made through Interac e-transfer.
Starting today, Canadian Coinbase users can also maximize the full potential of crypto with the best of Coinbase through membership with Coinbase One. Free for all users for 30 days, Canadians now have access to zero trading fees, boosted staking rewards and priority 24/7 support.
“Canada is well positioned to be a global leader in the crypto-economy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework,” said Nana Murugesan, Vice President, International and Business Development, Coinbase. “As Coinbase’s next Go Deep Market, we are making significant investments to help Canadians access the benefits of cryptocurrency.”
An Ontario Securities Commission survey found that over 30 per cent of Canadians said they will buy cryptocurrency within the year, more than double those who say they currently own crypto assets. This presents a significant opportunity for growth in the Canadian market.
Coinbase Ventures has been active across Canada, investing in several Canadian start-ups to promote local innovation and entrepreneurship, and develop technology that will advance the global crypto economy. Canadian portfolio companies include Dapper Labs, Minerva AI, Axelar, Horizon Blockchain Games, and Zapper.
“At Coinbase, our mission is to update the financial system and bring greater economic freedom to the world,” said Lucas Matheson, Canada Country Director, Coinbase. “We’re thrilled to be leading this push and helping drive innovation in Canada’s financial system.”