…Researched and contributed by Henry George.
Coinbase, the popular cryptocurrency exchange, has announced its plan to expand its services in the Canadian market as part of its “8-week international expansion drive.”
In a blog post, the company highlighted its commitment to the Canadian market and its recent investments in the region.
The company has hired Lucas Matheson as the country director and signed a Pre-Registration Undertaking (PRU), a crucial step towards becoming a registered exchange in Canada.
Investing in the Canadian Market
Coinbase’s decision to double down on its investments in the Canadian market comes as no surprise, given the growing interest in cryptocurrencies in the country.
In recent years, Canada has emerged as a hub for blockchain and cryptocurrency companies, with the Canadian government actively promoting innovation in the sector.
The company’s focus on the Canadian market is also reflected in its recent acquisition of the Canadian blockchain analytics firm, Neutrino.
Lucas Matheson’s Appointment
Lucas Matheson’s appointment as the country director for Canada is another indication of Coinbase’s commitment to the Canadian market.
Matheson is an experienced executive with a background in finance and technology, having previously worked at major financial institutions such as Morgan Stanley and TD Securities.
His expertise in the financial industry and his understanding of the Canadian market make him a valuable addition to Coinbase’s team.
Pre-Registration Undertaking (PRU)
Coinbase’s signing of the Pre-Registration Undertaking (PRU) is a significant step towards becoming a registered exchange in Canada.
The PRU is a regulatory requirement that allows companies to operate in Canada while awaiting approval for their application to become a registered exchange.
It is a crucial step towards ensuring compliance with Canadian regulations and building trust with Canadian customers.
Overall, Coinbase’s expansion plans in Canada reflect the company’s long-term commitment to the Canadian market and its belief in the potential of cryptocurrencies in the country.
The company’s investment in the region, coupled with its recent acquisition and the appointment of Lucas Matheson, highlights its dedication to building a strong presence in Canada.
As the popularity of cryptocurrencies continues to grow in Canada and around the world, Coinbase’s expansion plans are likely to bear fruit, positioning the company for success in the future.
Commentary: With the Canadian government’s favorable stance towards blockchain and cryptocurrency, Coinbase’s expansion plans in Canada are likely to help the company establish itself as a leading player in the region.
The company’s investments in the region, coupled with its recent acquisition and the appointment of Lucas Matheson, indicate its determination to build a strong presence in Canada.
As the competition in the cryptocurrency market intensifies, Coinbase’s decision to focus on the Canadian market is a smart move that could pay dividends in the future.