By
Godfrey Benjamin
April 23rd, 2024
Coinbase has announced the launch of its bitcoin exchange services in Canada, following an integration with payments company Vogogo.
Bitcoin wallet and exchange company Coinbase has announced the partnership with Canadian payment processor Vogogo, thus allowing its customers in Canada to purchase and sell the digital currency with the use of Canadian dollars.
Until now, Coinbase’s services had been available only in the United States and some European countries. The residents of Canada can now open a bank account, deposit funds into a Coinbase wallet, and trade bitcoin via the exchange.
Coinbase is a convenient platform allowing merchants and customers to quickly transact with each other. Since its opening in 2012, the Californian company has attracted about 2.5 million users and serves more than 40,000 merchants.
In April, the company enabled its customers in the UK to trade bitcoin using its exchange. Currently, its services are available in 27 countries globally.
In light of the expansion, Coinbase will waive its conversion fees for Canada’s citizens until September 6. Besides, the company has recently announced the sponsorship of the Hack the North hackathon at the University of Waterloo in Ontario. The firm will provide a prize of $1,000 in bitcoins and interviews for an engineering internship for the group that makes the best use of its API.
A few days ago, Coinbase has announced that users in the UK and Spain can now use 3D Secure enabled credit and debit cards in order to buy the digital currency. Credit and debit cards will not require a customer to deposit funds into their Coinbase account through a bank transfer, what means customers can instantly receive bitcoin transactions.
This June, the firm launched its new service, called Instant Exchange, enabling users to send and receive immediate bitcoin payments. One of the main benefits of the payment tool is that it’s not exposed to the fluctuations of cryptocurrency exchange rate. Shortly after the launch of the service, the company announced that it will charge zero fees for converting euro into bitcoin, in the wake of the economic crisis in Greece.
Vogogo expects the integration with Coinbase will help the company to boost its revenues and expand its foothold within the global markets where it has a competitive advantage.
Vogogo is a payment services provider with an expertise in software development, compliance, risk management, payments and other financial services. Its offerings include know-your-customer and anti-money-laundering services for companies working with digital currency.
In June, the company raised $12.5 million in funding round led by investors Salmon Partners, Beacon Securities and Clarus Securities.