The New Power Duo in Crypto
In a move that’s shaking up the Great White North’s financial scene, Canadian fintech corporation WonderFi has officially announced a partnership that is set to elevate cryptocurrency transactions across the nation. On September 18, WonderFi unveiled the intriguing alliance between Bitbuy, the country’s first fully approved cryptocurrency exchange, and Localcoin ATM, the giant of Bitcoin ATMs.
What This Partnership Means
With this strategic partnership, Localcoin aims to bolster its already impressive network of 900 crypto ATMs, which accounts for a hefty 33% of Canada’s total 2,700 ATMs. Bitbuy’s expertise and liquidity are expected to empower nearly 50% of these Bitcoin ATMs, making it easier for Canadians to dive into the world of cryptocurrency.
Bitbuy: The Trailblazing Exchange
Bitbuy isn’t just waving its flag for fun—this exchange was the **first** to gain full regulatory approval in Canada. In early 2023, it was acquired by WonderFi for a whopping $162 million, further enhancing its credibility and operational reach. This partnership with Localcoin signifies the goal of bridging the gap between potential crypto buyers and accessible transactions.
Canada’s Rising Crypto Scene
Canada is positioning itself as a solid contender in the global cryptocurrency race. A recent statement from Ontario Securities Commission CEO Grant Vingoe indicated that over 30% of Canadians are poised to invest in crypto assets in 2023, despite a wave of crypto companies exiting the market. Amidst the drama, WonderFi’s Dean Skurka suggests that clearer regulations may just be the ticket to attract institutional investors.
Localcoin: The ATM Powerhouse
Localcoin stands strong as a leading player in the crypto ATM landscape. With its extensive network, it’s not resting on its laurels. Localcoin ATM CEO Tristan Fong hinted at exciting developments on the horizon, including a new Localcoin Wallet app and an expanded range of supported cryptocurrencies at their ATMs. This move could potentially make cryptocurrency transactions as easy as pie—or at least easier than finding a parking spot!
Looking Ahead
With Bitbuy and Localcoin teaming up, the future is looking bright for Canadian cryptocurrency enthusiasts. Enhanced capabilities, consumer-friendly services, and the ability to sell bitcoins online are just a few benefits to look forward to. If their ambitions materialize as promised, Canadians may soon find themselves navigating the crypto space with greater ease than ever.
“We’re always evaluating opportunities to grow and enhance our offerings,” said Fong, indicating a proactive approach to the burgeoning market.
