Coinbase celebrates Canadian registration eight months after launch

Quick Take

  • Coinbase said it has secured a restricted dealer license in Canada, making it the first — and largest — international cryptocurrency exchange to be registered in the country.
  • The U.S.-based exchange officially launched in Canada nearly eight months ago.

After announcing it had launched in Canada nearly eight months ago, Coinbase announced on Thursday it has now also secured registration as a restricted dealer. 

Coinbase said this makes it the first international cryptocurrency exchange to be registered in the country and the largest one to operate there. Expanding into Canada fits into Coinbase's broader plan to grow a footprint in markets outside the U.S., where it has at times faced difficulties amid scrutiny from the Securities and Exchange Commission.

In its statement, Coinbase appeared upbeat about securing the restricted dealer license. "We’ve collaborated with Canadian banks, investment advisors, and pension funds to demonstrate our dedication to facilitating their successful navigation of the evolving digital asset realm.," the company said in a blog post.

The U.S.-based cryptocurrency trading platform hired a country director for Canada roughly a year ago

Coinbase also said, citing a study it helped conduct, that nearly a third of Canadians would be more likely to buy crypto if there was more regulation. As of late last year, WonderFi controlled almost half of all the regulated exchanges operating in Canada.


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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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