Coinbase, the American crypto giant, is in talks with some of Canada’s largest banking institutions in order to gain support for the local crypto ecosystem. This comes shortly after Coinbase announced its official entry into the Canadian crypto market.Lucan Matheson, Coinbase’s Director of Canadian Operations, is reportedly in talks with the tier-one banks in Canada, which include the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce. The objective is to get these banks to start participating in the crypto economy.Matheson believes that Canada has a “regulation by engagement” approach when it comes to regulating the crypto industry, as opposed to the “regulation by enforcement” approach in the United States. He hopes that the country’s top banks will start participating in the crypto market over the next few quarters.Coinbase is also working with Canadian regulators to come up with an appropriate regulatory regime for the country’s crypto market, in order to make Canada a leader in the space. The crypto exchange also plans to educate Canadian investors about the decentralized economy and its use cases in the payments space.
| Information |
Details |
| Geography |
North America |
| Countries |
🇨🇦 |
| Sentiment |
positive |
| Relevance Score |
10 |
| People |
Lucan Matheson, Royal Bank of Canada, Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal |
| Companies |
Coinbase, Royal Bank of Canada, Imperial Bank of Commerce, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce |
| Currencies |
None |
| Securities |
None |
