Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Bitbuy and Localcoin Partner Boosting Crypto Access in Canada
Crypto | Sep 20, 2023
Image: Unsplash/Vardan Papikyan
Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider.
This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada.
Expanding Access to Crypto
- Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning.
- Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership.
See: Bitbuy to Offer Stock Trading to Its Users
- Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space.
- This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets.
Improving User Experience and Security
- The partnership will introduce a robust API integration, ensuring a seamless connection between Bitbuy and Localcoin platforms.
- This integration will provide Localcoin users with competitive pricing and efficient order execution, enhancing the overall user experience.
- Both companies are committed to upholding the highest standards of security in the cryptocurrency industry, ensuring that users' transactions and assets are safeguarded.
See: Dispelling FUD: Why Binance’s Exit from Canadian Crypto Markets Strengthens Canada’s Ecosystem
Another Milestone for Canadian Crypto
In conclusion, the strategic partnership between Bitbuy and Localcoin marks a significant milestone in the Canadian cryptocurrency landscape. As fintechs, financial institutions, and investors navigate the evolving digital asset ecosystem, collaborations like these signal a promising future for cryptocurrency adoption and infrastructure development in Canada.
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