Global cryptocurrency exchange Coinbase appoints former Shopify senior director of operations Lucas Matheson as the country director in Canada.
Coinbase VP of International and Business Development, Nana Murugesan, announced the new hire as part of expansion plans in Canada calling it a “key international market.”
In regard to its expansion plans, Coinbase Canada signed an enhanced Pre-Registration Undertaking (PRU) with the security regulators in the country.
“We applaud the Canadian securities regulators’ efforts to bring clarity to the industry and look forward to continuing our collaboration with them on regulation that protects consumers while embracing innovation,” Murugesan added.
With the help of more than 200 engineers, Coinbase reportedly established a tech hub in Canada to serve its extensive product line.
Its global leadership team will also visit Canada frequently to interact with partners, regulators, and the locals in order to comprehend the local market and its particular requirements.
Matheson is not the first ex-Shopify executive to join Coinbase. In February, Coinbase welcomed Shopify’s CEO Tobias Lütke to its board which coincided with Coinbase’s efforts to expand its e-commerce operations and build a marketplace for NFTs.
Canada has just declared that crypto trading companies must agree to new conditions as they wait to be registered, tightening its laws on the sector. By signing the PRU, Coinbase reveals its wishes to strengthen its presence in Canada by complying with the rules.
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