Coinbase Enters Canadian Market

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  • Coinbase has expanded into the Canadian market, offering a 30-day trial of its Coinbase One subscription service to Canadian users
  • Despite facing legal issues in the US, Coinbase has chosen to continue its international growth
  • Canada has been chosen due to the country’s crypto awareness and regulatory progress

Coinbase yesterday announced its expansion into the Canadian market, further solidifying its North American presence. As an incentive to new users, Coinbase is offering a complimentary 30-day trial of its recently launched subscription service, Coinbase One, to Canadian nationals. Coinbase has decided to continue its international growth despite the negative attention of US regulators, following its warning that it might move its operations overseas.

Canada is “Global Cryptoeconomy Leader”

Coinbase revealed its rationale for its Canadian move in a blog post, saying that Canada is ranked as “the world’s third-most crypto-aware nation” and extolling its “enthusiastic local tech ecosystem that, combined with its strides towards a robust regulatory framework, positions it as a potential global cryptoeconomy leader.”

Coinbase’s recent legal battles with American regulators haven’t impinged on its international expansion plans, undaunted by its lawsuit by the SEC, which alleges Coinbase’s failure to register as a securities exchange and broker, coupled with accusations of offering unregistered securities to its users.

Coinbase Looking to Grow Base

Canada’s cryptocurrency stance has been marked by mixed signals over the years, despite a report by a group of Canadian lawmakers endorsing cryptocurrencies and blockchain technology, along with recommendations for a national strategy in the sector.

Coinbase recently introduced Base, an Ethereum layer-2 network aimed at fostering the development of decentralized applications within its ecosystem. Following its launch, Base gained traction and emerged as a top five layer-2 network in terms of total bridged value. The Coinbase One service focuses on staking, providing users with zero trading fees and prioritized customer support in the initial phase.