Toronto, Ontario, September 18, 2023 / AlexaBlockchain/ (via Newsfile Corp.) – WonderFi Technologies Inc. is pleased to unveil an exciting strategic partnership between its wholly-owned subsidiary, Bitbuy Technologies Inc., and Localcoin, Canada’s largest Bitcoin ATM provider.
This collaborative venture between two of Canada’s largest consumer-facing crypto companies marks a major milestone in enhancing cryptocurrency adoption and accessibility across the country.
Localcoin selected Bitbuy because of its scale, commitment to the Canadian market and strong regulatory positioning. Bitbuy is set to surpass 900,000 registered Canadian users by the end of the month, making it one of the largest crypto-trading platforms in the country. The platform caters to both retail and advanced traders, as well as high-net-worth and institutional clients, providing them with comprehensive trading and staking services.
Localcoin has been at the forefront of the cryptocurrency ATM sector in Canada, offering a network of easily accessible, user-friendly ATMs across the country where users can buy or sell Bitcoin, Ethereum, Litecoin and more. Established in 2017, Localcoin now boasts 920 ATMs, capturing 33% of cryptocurrency ATM market share in Canada.
Canada stands strong in the crypto ATM space with 2,747 ATMs, ranking it second globally. It trails only the US, showcasing Canada’s robust adoption and prominence in the cryptocurrency infrastructure compared to other nations.
Localcoin has partnered with industry leading convenience stores such as Hasty Market & INS Market. Localcoin offers a convenient and secure way for buying & selling crypto, emphasizing user accessibility and privacy.
With the Localcoin partnership finalized, Bitbuy’s digital asset services will cover nearly 50% of Canada’s Bitcoin ATMs.
WonderFi Chief Executive Officer and President, Dean Skurka, said: “We are thrilled to announce this strategic partnership between Bitbuy and Localcoin, two of Canada’s most established consumer brands for digital assets. With access to deep liquidity through the Bitbuy marketplace, and Localcoin’s extensive network of user-friendly ATMs, we firmly believe that this partnership exemplifies a commitment to offering seamless and user-friendly solutions for buying and selling digital assets.”
Key benefits of the Bitbuy and Localcoin partnership include:
- Reliable Liquidity: Bitbuy, known for its liquidity and efficient order execution, will now extend its liquidity pool to the Localcoin ATM network. This enhancement ensures that users at Localcoin ATM locations can buy or sell cryptocurrencies with confidence, knowing they will receive competitive prices and timely execution.
- Competitive pricing via seamless API Integration: The partnership between Bitbuy and Localcoin will introduce a robust API integration, enabling a seamless connection between the two platforms. The liquidity and pricing will be brought to Localcoin via a smooth and efficient API experience. Localcoin users will enjoy the ease of access through Bitbuy’s API.
- Security: Both Bitbuy and Localcoin are committed to upholding the highest standards of security in the cryptocurrency industry, ensuring users’ transactions and assets are protected.
Tristan Fong, co-founder of Localcoin, said: “Our new partnership with Bitbuy is a game-changer. By aligning with such a trusted name in the cryptocurrency space, we’re ensuring our users get the most seamless experience. This collaboration not only enhances our service offerings, but also solidifies our commitment to making cryptocurrency more accessible to Canadians.”
Jeff Fitzgerald, Vice President of Sales at Bitbuy, said: “Localcoin represents one of several corporate partners that the Bitbuy Private Wealth and Corporate Solutions desk has successfully partnered with in 2023. In August alone, the number of new corporate clients onboarded increased by nearly 30% compared to the previous month, setting the pace for a record-breaking year in terms of new client growth.”
The integration of Bitbuy with the Localcoin ATM network will be implemented gradually in the upcoming weeks.
WonderFi Technologies Inc., through its subsidiaries, operates digital asset platforms trusted by over 1.6 million Canadians. WonderFi’s Bitbuy, Coinsquare and CoinSmart crypto trading platforms provide Canadians with access to regulated crypto trading and staking. SmartPay, provides crypto payment processing on a global scale.
WonderFi boasts one of the largest communities of regulated crypto investors in Canada. For more information, visit www.wonder.fi.
Localcoin is a Toronto-based company whose mission is to provide a simple buying & selling experience of digital currency for customers across Canada. We are currently Canada’s largest Bitcoin ATM network with over 900 cryptocurrency terminals across all provinces.
Partnered with Canada’s leading corporate and franchised convenience stores, our rapidly expanding partnership network includes Gateway Newstands, Hasty Market, Quickies and more. With terminals across Canada, Localcoin has solidified its position as the Largest Bitcoin ATM provider in the nation. For further information about Localcoin, please visit localcoinatm.com.
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