WonderFi Announces Partnership with Localcoin to Expand Bitcoin ATM Coverage in Canada
WonderFi, through its subsidiary Bitbuy Technologies Inc., has formed a strategic partnership with Localcoin, the largest Bitcoin ATM provider in Canada. This collaboration will allow Bitbuy’s digital asset services to cover up to 50% of the Bitcoin ATMs in the country.
The Growing Crypto ATM Market in Canada
Canada is a prominent player in the crypto ATM industry, with a total of 2,747 ATMs, second only to the United States. WonderFi Technologies, through its subsidiaries including Bitbuy, Coinsquare, and CoinSmart, provides regulated crypto trading and staking services to 1.6 million Canadians. The completion of the Localcoin partnership will further expand Bitbuy’s coverage to include some of Localcoin’s 920 ATMs, which currently hold a significant 33% share of the Canadian cryptocurrency ATM market.
Canada’s Continued Interest in Digital Assets
The partnership between Bitbuy and Localcoin, along with Coinbase’s entrance into the Canadian market earlier this year, demonstrates Canada’s ongoing interest in digital assets. Despite regulatory uncertainties in other countries, these recent developments suggest that Canada has the potential to become a leader in the global crypto economy.
Hot Take: Canada’s Crypto Industry Poised for Growth
With WonderFi’s partnership with Localcoin and the overall growth of the crypto ATM market in Canada, it is clear that the country is positioning itself as a major player in the cryptocurrency industry. The increased accessibility and availability of Bitcoin ATMs through Bitbuy’s expanded coverage will contribute to the mainstream adoption of digital assets in Canada. As more companies enter the Canadian market and regulations become clearer, Canada has the opportunity to establish itself as a leading hub for crypto innovation and investment.
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