• Wed. Feb 28th, 2024

Coinbase Expanding its Operations in Canada



Jan 12, 2021

In the past couple of years, the cryptocurrency industry has gained so much success and adoption that no one can dare deny its existence. The cryptocurrency has managed to be in the spotlight for two years now and there is no stopping it.

Over the course of time, many economic giants such as Russia, China, Georgia, Switzerland, and other countries have come to know its importance. These countries are now busy innovating and bringing in more ideas on how to make better use of them in different sectors.

As of now, all of the countries mentioned above are currently in the processing of utilizing the crypto-blockchain technology to their benefit. These countries are involved in introducing their own central bank digital currencies and are hoping to launch them in the current year or the next.

In the same list comes Canada that has also emerged as one of the most crypto-friendly countries. It has been making constant efforts to bring in and accommodate more cryptocurrencies and exchanges into its region.

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It was back in December 2020 when the firm announced that it was going to launch its own CBDC in the year 2021 or 2022. Seeing the country as a user-friendly state, many cryptocurrency exchanges are now eager to expand their services and operations in Canada.

Recently, it was one of the largest cryptocurrency exchanges ‘Coinbase’ that announced that it is planning to launch its operations in Canada. The exchange officials confirmed that the new site will be opened in Canada by the end of 2021.

For the time being, the exchange has not confirmed in which city or state it is going to launch its operations in Canada. However, the exchange has confirmed that the opening of the new site in Canada depends on the coronavirus conditions in the country.

The company commended the contribution of the country when it comes to cryptocurrencies. It stated that Canada has been a hub for a high-quality workforce and innovation. In recent times, the country has become crypto-oriented and a lot of crypto-talent is emerging from the country.

The Coinbase officials have revealed that it has already started its recruitments to collect the necessary candidates once they are ready to launch their operations. For the time being, the exchange is in the process of hiring for recruiter and technical roles. Once it is done with this phase, it will be widening its position searching.

The company has also revealed that it is not mandatory that the applicants must be Canada-based. The company revealed that its initial operations in Canada would preferably be through remote-access as it wants to become a remote-first organization.

Coinbase officials stated that the exchange has been operational in Canada since 2015 and has received a lot of positive feedback from it in these years. Based on history, the company is confident this will be the company’s other great adventure.


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