Foremost crypto exchange, Coinbase has announced its full presence in Canada. According to its Monday blog post, the expansion follows its integration of Interac payment rails. The integration was made possible by the exchange’s collaboration with People’s Trust Firm.
According to Coinbase, the integrated payment feature was done to meet up with its rising demand by Canadian users. The feature allows users to conveniently deposit and withdraw Canadian dollars from their Coinbase accounts. The exchange, however, added that deposits of funds through Interac remain free and instant to aid users’ experience.
Apart from the integration, Coinbase also marked its full entry into Canada by launching a One subscription product. The product is enveloped with a 30-day trial to enable subscribers to access zero trading fees, huge staking incentives, priority support, and many more. Later this year, the exchange wants to launch direct bank transfers, thereby easier access to crypto products with fiats.
In the blog post, Coinbase commends Canada for its friendly-approach to crypto. According to the exchange, Canada remains the “world’s third-most crypto-aware nation and the next go deep market.” It added that the country’s clear regulation positions it as one of the global crypto hubs. Going forward, the exchange plans to serve its users in Canada in line with local regulations.
Launching of Base by Coinbase
Worthy of note that Coinbase’s official entry into Canada comes barely a few days after it launched mainnet access to its Base product. The mainnet access came alive after several months of undergoing the testnet stage. Coinbase said the product runs as an Ethereum Layer 2 platform, developed to avail a cost-effective way for users to build dApps on-chain.
During the testnet, developers had first-hand experiments with the solution. Earlier, it employed the services of security experts to assess the product. According to Coinbase, not less than 100 security professionals checked the project, and no major issues were discovered. With the launch of its mainnet, Coinbase looks to onboard billions of users into the crypto space. It designed Base in such a way that it can house its on-chain offerings and also offer an open ecosystem for developers to build their projects conveniently.