{"id":180193,"date":"2023-08-17T13:39:10","date_gmt":"2023-08-17T13:39:10","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180193"},"modified":"2023-08-17T13:39:10","modified_gmt":"2023-08-17T13:39:10","slug":"crypto-payments-gain-ground-in-canada-as-confidence-grows","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/crypto-payments-gain-ground-in-canada-as-confidence-grows\/","title":{"rendered":"Crypto Payments Gain Ground In Canada As Confidence Grows"},"content":{"rendered":"

A recent <\/span>study<\/span> by the Bank of Canada (BoC) revealed that crypto ownership in the country had slowed over the past two years. However, recent sentiment from Coinbase\u2019s Country Director for Canada, Lucas Matheson, suggests Canadians are slowly warming up to crypto again.\u00a0<\/span><\/p>\n

Canadians Adopting Crypto Payments<\/h2>\n

In a <\/span>conversation<\/span> with Cointelegraph, Matheson mentioned that Canadians\u2019 outlook towards digital assets is changing as they adopt it to make daily transactions. This means that crypto in the country is garnering mass adoption as service providers and consumers are using it to facilitate payment of goods and services.\u00a0<\/span><\/p>\n

Furthermore, Matheson believes that more daily use cases will arise that will be \u201cdigital asset-backed.\u201d This belief could stem from the fact that the tokenized industry is rapidly growing with many real-world assets (RWA) being brought on-chain.\u00a0 Many industries are expected to be disrupted with the help of blockchain technology and non-fungible tokens (NFTs).<\/span><\/p>\n

The E-commerce industry is one that Matheson has singled out to be significantly impacted by NFTs. He said the major use case would be \u201cphygital\u201d items, where fashion brands create the tokenized version of their physical products. Popular brands like Nike and <\/span>Lacoste<\/span> are known to have ventured into the metaverse with the introduction of their tokenized wear.\u00a0<\/span><\/p>\n

Coinbase And Key Regulations Integral<\/h2>\n

Matheson emphasized the importance of regulatory certainty and how Coinbase is contributing to the crypto industry’s growth in Canada. According to him, the crypto exchange was working closely with the Canadian authorities to build trust and help them understand the role of digital assets in building a sustainable economy.<\/span><\/p>\n

Coinbase officially <\/span>launched<\/span> in the Canadian market on August 14. The company announced that it had partnered with local banks and payment platforms to ensure easy fiat on-ramp and make crypto more accessible to Canadians. Furthermore, Coinbase rolled out its Interac payment rails to enable local users \u201cseamlessly deposit and withdraw funds (CAD) to and from their Coinbase wallets\u2026\u201d<\/span><\/p>\n

Meanwhile, Canada\u2019s lawmakers have shown commitment to backing the crypto industry in the country by providing regulatory certainty to stakeholders in the industry. In June, the Canadian House of Commons Parliamentary Standing Committee on Industry and Technology published a <\/span>report<\/span> highlighting the positive impacts blockchain technology could have on the economy and the need to provide regulatory clarity and protect the interests of consumers.\u00a0<\/span><\/p>\n

The report also proposed an innovative regulatory approach for cryptocurrencies, emphasizing how Canada could become a leader in the crypto economy.\u00a0<\/span><\/p>\n

With such efforts from Coinbase accompanied by regulatory certainty, Crypto adoption is bound to grow. Interestingly, the Ontario Securities Commission (OSC) <\/span>claims<\/span> that over 30% of Canadians plan to buy crypto by 2024.<\/span><\/p>\n

<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A recent study by the Bank of<\/p>\n","protected":false},"author":3,"featured_media":180192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nCrypto Payments Gain Ground In Canada As Confidence Grows - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/crypto-payments-gain-ground-in-canada-as-confidence-grows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Payments Gain Ground In Canada As Confidence Grows - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"A recent study by the Bank of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/crypto-payments-gain-ground-in-canada-as-confidence-grows\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-17T13:39:10+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/08\/Crypto-Payments-Gain-Ground-In-Canada-As-Confidence-Grows.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/crypto-payments-gain-ground-in-canada-as-confidence-grows\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/crypto-payments-gain-ground-in-canada-as-confidence-grows\/\",\"name\":\"Crypto Payments Gain Ground In Canada As Confidence Grows - 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