Latest News
Coinbase becomes first international crypto exchange to secure restricted dealer licence in Canada
United States (US) cryptocurrency giant Coinbase has announced that it has become registered as a restricted dealer in Canada with the Canadian Securities Administrators (CSA).
This makes Coinbase the first international crypto exchange—and, it claims, the largest—to become registered in Canada to date. In a statement, Coinbase Canada CEO Lucas Matheson called the news “a significant milestone in Coinbase’s journey in Canada,” noting that the company intends to continue working with stakeholders across the country.
Following the collapse of numerous unregulated crypto trading platforms in 2022, the CSA has levied more restrictions on exchanges operating in Canada, seeking to protect investors and prevent another FTX debacle, and pushed all firms to become regulated, leading Coinbase competitor Binance and others to pull out of Canada.
With the news, Coinbase has now joined a group of domestic crypto trading platforms registered with the CSA that includes WonderFi-owned Bitbuy and Coinsquare, Netcoins, Newton, Shakepay, VirgoCX, and Wealthsimple. Other international players, including Crypto.com, Gemini, and Kraken, are also hoping to join these ranks.
Coinbase, which had quietly operated in Canada for some time now, announced its “official entry” into the country in 2023. Last March, the firm completed a pre-registration undertaking, initiating the process of becoming registered with Canadian securities regulators.
“We’re really excited to be committing to Canada for the long term,” Coinbase’s Matheson told BetaKit in an August 2023 interview.
Coinbase is not new to Canada: the company has operated here for years, offering crypto trading services, and investing in Canadian startups. Today, with nearly 200 full-time employees, Canada represents its largest tech hub outside of the US.
According to Matheson, Coinbase sees room to expand in Canada given the country’s “regulatory clarity,” strong developer ecosystem, and crypto-aware population.
This approval comes as Coinbase and other US crypto firms face a regulatory crackdown at home, with Coinbase fighting a lawsuit from the Securities and Exchange Commission regarding the alleged unregistered sale of securities.
Over the past 12 months, international expansion and regulatory approval have been a key focus for the firm, which said it has now obtained licences and registrations in France, Spain, Singapore, Italy, Ireland, and the Netherlands.
Source: betakit.com
The post Coinbase becomes first international crypto exchange to secure restricted dealer licence in Canada appeared first on HIPTHER Alerts.
Latest News
eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
Latest News
Revio, the young fintech winning over Old Mutual and MTN
Latest News
Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
-
Latest News7 days ago
Al Hassan Ghazi Ibrahim Shaker Co. announces a strong start to FY24, reporting a 12.09% YoY increase in net profit to reach SAR 32.25 million in Q1-FY24
-
Latest News6 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News7 days ago
Major Korean pension fund invests in carbon solutions with Stafford Capital Partners
-
Latest News6 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News6 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News4 days ago
Unleash a Wave of Opportunities this May with Bybit
-
Latest News4 days ago
B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing
-
Latest News3 days ago
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware