– Bitbuy, the first regulated cryptocurrency exchange in Canada, has announced a strategic partnership with Localcoin, a cryptocurrency ATM provider.
– The partnership aims to enhance Localcoin’s ATM offerings throughout Canada with Bitbuy’s exchange platform and deep liquidity.
– Localcoin operates the largest cryptocurrency ATM network in Canada, with 900 machines accounting for 33% of the national total.
– The partnership will enable Bitbuy’s digital asset services to cover nearly 50% of Canada’s Bitcoin ATMs.
– Despite recent regulatory changes and the departure of other crypto companies, the partnership reflects the increased regulatory clarity that is attracting institutional investors to the Canadian cryptocurrency market.
In a statement, Localcoin ATM CEO Tristan Fong also revealed plans for the launch of the Localcoin Wallet app and an extended range of cryptocurrencies available at their ATMs.