Coinbase announced that it has secured a limited dealer license in Canada, marking a significant milestone for the US-based exchange. This makes Coinbase the first and largest international cryptocurrency exchange registered in Korea.
Coinbase’s latest announcement, which officially launched in Canada almost eight months ago, is that it is securing registration as a limited dealer, underscoring Coinbase’s commitment to expanding its presence in global markets outside of the United States. The move is consistent with Coinbase’s strategy amid challenges it faces in its domestic market, including regulatory scrutiny from the Securities and Exchange Commission (SEC).
In expressing its enthusiasm for obtaining a limited dealer license, Coinbase emphasized its collaboration with Canadian banks, investment advisors and pension funds. The company emphasized its commitment to fostering successful navigation of the evolving digital asset landscape for these enterprises.
Coinbase’s efforts in Canada were further strengthened by the appointment of a country director about a year ago. The exchange also cited research it contributed that found that nearly a third of Canadians would be more likely to purchase cryptocurrencies if more regulatory measures were put in place.
As of the end of last year, WonderFi controlled nearly half of all regulated exchanges operating in Canada, reflecting growing interest and participation in the cryptocurrency market in the country.
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