Coinbase company for the expansion of bitcoin services began to enter the Canadian market

Coinbase company for the expansion of bitcoin services began to enter the Canadian market

Coinbase is a bitcoin industry leader, after the four round of venture financing, the company won a total investment of $106 million 700 thousand. In January this year, Coinbase completed C $75 million round of financing, the platform’s chief executive officer Blaine? Armstrong released rhetoric, said before the end of 15, the service extended to 30 countries.

In September 1st, Coinbase announced its entry into the Canadian market, so far, the number of countries in the company’s service has been extended to 27.

This also means that Canadian residents can use Canadian dollars to buy and sell bitcoins, in addition, they can also be stored in the Canadian Coinbase bitcoin wallet, and CAD / bitcoin trading platform Coinbase.

In an interview with reporters, Armstrong said, although the company has launched in more developed regions is successful, will expand its services to the development of the market, still need positive efforts.

Armstrong said:

“This is not our hope to launch the market, this is actually more factor partners. But to be sure, there are a lot of people Canada bitcoin is interested in, and they had no simple way of trading.”

It is worth noting that the platform of the CAD/BTC trading orders will be independent, it is said that American exchange users will not be able to use your account to access the transaction on u.s..

“Multiple currency transactions to have certain advantages, but we consider the more regulatory problems,” said Armstrong.

In addition, Coinbase also said that the platform will be removed from service bitcoin economy retail exchange fee, the deadline for September 6th.

business model

The long-term profit model, about Coinbase Armstrong said that the company may add extra financial products, including derivatives.

However, he also admitted that the entire industry, including the wallet and exchange, to increase revenue is difficult, but he believes that Coinbase occupy a very favorable position, because the company has established a trusted reputation in the industry.

“This is more than apple and WAL-MART,” he said, “I think the consumer business will be tenable, and are profitable, this enables us to provide a free platform for developers.”

Finally, he reiterated that Coinbase is seeking to establish an open and efficient payment network for global users, and stressed that the company in Canada, is another step to achieve this goal

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