- Coinbase has integrated Interac’s e-Transfers payment network into its platform.
- With the new service, Canadian users will be able to quickly and conveniently fund their exchange account.
Cryptocurrency exchange Coinbase has announced its expansion into Canada with a new product for users. Through a partnership with Peoples Trust Company, the company has integrated Interac e-Transfers into its platform. The exchange’s website specified that it will make cryptocurrencies available to millions of Canadians.
Canadians will now be able to fund their accounts using Interac’s service. In addition, Canadians will be able to participate in the Coinbase One program. Within 30 days of signing up, they will have access to zero commission trading, increased staking fees and prioritized 24/7 support, according to the exchange’s website.
The crypto exchange sees Canada as a new market for development. An Ontario Securities Commission survey found that more than 30% of Canadians intend to buy cryptocurrency within a year. The company believes this represents a significant growth opportunity.
In March, Coinbase signed an expanded pre-registration agreement (PRU) and continues to work with regulators and policymakers on the regulatory framework for digital currencies for Canadians. Cryptocurrency exchange opened a technical center with almost 200 employees. That makes Coinbase Canada the company’s largest affiliate outside the U.S.
In March 2023, the company said it was in talks with Canadian regulators. Meanwhile, decentralized exchange dYdX announced it was withdrawing from the Canadian market, and Binance revealed its branch closures in May.
According to Binance, the decentralized exchange is also withdrawing from the Canadian market.