Bitbuy, a subsidiary of WonderFi Technologies Inc., has entered into a strategic partnership with Localcoin, Canada’s largest Bitcoin ATM provider. This alliance is set to significantly impact the accessibility and availability of digital assets, particularly Bitcoin, across the nation.
Localcoin’s decision to join forces with Bitbuy was influenced by several key factors, including Bitbuy’s substantial presence in the Canadian market and its robust regulatory framework.
Bitbuy is set to achieve a remarkable milestone of 900,000 registered Canadian users by the end of the month. This achievement firmly establishes it as one of Canada’s prominent crypto-trading platforms.
Bitbuy serves a diverse range of clients, encompassing retail and advanced traders, high-net-worth individuals, and institutional investors. It offers an extensive selection of trading and staking services to cater to their varied needs and requirements.
On the Canadian cryptocurrency ATM scene, Localcoin stands out as a pioneering company. Since its establishment in 2017, it has successfully created an extensive network of user-friendly ATMs nationwide.
These ATMs enable individuals to effortlessly buy and sell numerous cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. With a remarkable total of 920 ATMs in operation, Localcoin dominates 33% of Canada’s cryptocurrency ATM market share.
Canada itself is a formidable presence in the global crypto ATM arena, boasting 2,747 ATMs, second only to the United States. It reflects Canada’s strong adoption and prominence in the cryptocurrency infrastructure on a global scale. Localcoin has thoughtfully partnered with industry-leading convenience stores such as Hasty Market & INS Market, prioritizing user accessibility and privacy for crypto transactions.
Key Benefits Of The Bitcoin-Powered Partnership
With the completion of this strategic partnership, Bitbuy’s digital asset services will now power nearly 50% of Canada’s Bitcoin ATMs, providing users with enhanced liquidity, competitive pricing, and top-tier security.
Dean Skurka, Chief Executive Officer and President of WonderFi expressed his enthusiasm for the partnership, emphasizing the commitment to user-friendly solutions for buying and selling digital assets. This partnership aims to provide users at Localcoin ATMs with reliable liquidity, competitive pricing via seamless API integration, and enhanced security.
Tristan Fong, co-founder of Localcoin, echoed this sentiment, describing the partnership as a game-changer for their users and reinforcing their dedication to making cryptocurrencies more accessible to Canadians.
Moreover, Jeff Fitzgerald, Vice President of Sales at Bitbuy, highlighted the remarkable growth in corporate clients in 2023, setting the stage for a record-breaking year.
However, integrating Bitbuy’s services with the Localcoin ATM network will be rolled out gradually in the coming weeks, promising an exciting evolution in the Canadian cryptocurrency landscape.
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