Coinbase Canada’s Year in Review // Futurist Conference 2024 Main Stage

Canada is Coinbase’s largest tech hub outside the US, with ~230-240 employees and significant investment in early-stage startups

Key market stats:

• Canada is the 3rd most crypto-aware country globally
• 50% of Canadian financial institutions offer crypto products
• 80% of wealth is managed by professionals
• One in five Canadians remit money abroad

Recent milestones:

• Registered as restricted dealer with CSA
• Introduced Interac payment rails for easier fund transfers
• Working toward full dealer status with IIROC
• Custody provider for 8 of 13 Bitcoin ETFs in Canada

Strategic priorities:

• Expand payment rails and reduce transaction fees
• Focus on institutional adoption and professional education
• Enable easier remittance solutions (currently 6-12% fees)
• Launch Coinbase Commerce for Canadian businesses
• Support developer ecosystem on Base layer-2 protocol

Market challenges:

• Highly centralized financial system (5 banks control 90%)
• Limited political champions for crypto
• Public perception of crypto as high-risk
• Need for updated financial regulations
• Banking relationships for crypto companies

Key initiatives:

• Stand With Crypto advocacy campaign
• Education focus to “demystify” crypto misconceptions
• Building institutional-grade infrastructure
• Supporting Web3 company growth in Canada
• Regulatory compliance and relationship building