Bitbuy, a subsidiary of WonderFi Technologies Inc., has formed an exceptional and entirely unique partnership with Localcoin, Canada’s leading Bitcoin ATM provider. This collaboration is supposed to greatly impact the accessibility and prevalence of digital assets, particularly Bitcoin, throughout the country.
PRESS RELEASE: Bitbuy Partners with Localcoin, Canada's Largest Bitcoin ATM Provider
Bitbuy's digital asset offering now powers nearly 50% of Canada's Bitcoin ATMs
MORE DETAILS: https://t.co/rqBDoHev1O
— WonderFi (@WonderFi) September 18, 2023
Several significant factors influenced Localcoin’s decision to join forces with Bitbuy. Particularly noteworthy was Bitbuy’s strong presence in the Canadian market and its robust regulatory framework.
Bitbuy is set to achieve an impressive milestone of 900,000 registered Canadian users by the end of the month. This achievement undeniably establishes it as one of Canada’s foremost cryptocurrency trading platforms.
Bitbuy caters to a diverse range of clients. This includes both retail and experienced traders, high-net-worth individuals, and institutional investors. Bitbuy offers a comprehensive selection of trading and staking services that are specifically tailored to meet the wide array of needs and demands from its clientele.
Therefore, Localcoin stands out as a pioneering force in the Canadian cryptocurrency ATM landscape. Since its establishment in 2017, it has successfully built a vast network of user-friendly ATMs across the country.
These ATMs make buying and selling various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, incredibly easy. Currently operating an impressive total of 920 ATMs, Localcoin holds a significant 33% market share in Canada’s cryptocurrency ATM industry.
Canada has established itself as a significant player in the global crypto ATM industry, with a total of 2,747 ATMs – an impressive feat that secures its second position worldwide, only behind the United States. This achievement highlights Canada’s active participation and strong presence within the global cryptocurrency landscape.
Notably, Localcoin has strategically collaborated with renowned convenience stores like Hasty Market & INS Market, prioritizing user accessibility and transactional privacy for seamless cryptocurrency operations.
Advantages Unleashed by Bitcoin-Powered Collaborations
However, through successfully establishing this strategic partnership, Bitbuy’s digital asset services will now power almost half of Canada’s Bitcoin ATMs. This collaboration aims to enhance user experience by offering improved liquidity, competitive pricing, and robust security measures.
Dean Skurka, the CEO and President of WonderFi, expressed his enthusiasm about this collaboration. He emphasized their commitment to providing user-friendly solutions for digital asset transactions.
Furthermore, this partnership aims to deliver reliable liquidity, competitive pricing through seamless API integration, and enhanced security for users utilizing Localcoin ATMs.
Tristan Fong, a co-founder of Localcoin, shared a similar view. He described the partnership as a groundbreaking development for their users and reiterated their dedication to improving Canadians’ access to cryptocurrencies.
In addition, Jeff Fitzgerald, Bitbuy’s Vice President of Sales, highlighted the remarkable growth in corporate clients throughout 2023, setting the stage for a potentially groundbreaking year.
Bitbuy’s services will gradually integrate into the Localcoin ATM network in the upcoming weeks, signifying an exciting transformation in Canada’s cryptocurrency landscape. This progressive implementation heralds a promising development, set to revolutionize how cryptocurrencies are accessed and utilized across the country.