Cryptocurrency exchange Coinbase has recently obtained a license to operate in Canada, expanding its global presence beyond the U.S. market. This move comes as Coinbase faces increased regulatory scrutiny in its home market.

The license granted to Coinbase allows the platform to operate as a limited dealer in Ontario under the Canadian Securities Administrators (CSA). This makes Coinbase the first international cryptocurrency exchange to be registered in Canada, positioning the platform to serve millions of Canadians and provide access to the digital economy.

Lucas Matheson, Coinbase’s country director for Canada, highlighted the significance of this registration, stating that it has been a three-year effort, with the focus being on working closely with the Ontario Securities Commission in the past 12 months.

Matheson emphasized Coinbase’s commitment to compliance and registration, positioning the platform as a trusted and publicly traded company in the global market.

Previously, Coinbase also received licenses to operate in France and the British Island Territory of Bermuda, further expanding its reach as a regulated entity offering virtual asset service provider (VASP) services.

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