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Coinbase Extends Bitcoin, Ether Buying in Canada & Singapore

Last Updated March 4, 2021 4:50 PM
Samburaj Das
Last Updated March 4, 2021 4:50 PM

Digital currency exchange and wallet provider Coinbase has extended bitcoin and ether buying to customers in Canada and Singapore, within days after announcing the same feature to Australian users.

Firmly in its global expansion phase, bitcoin and ether exchange and wallet Coinbase has now enabled its bitcoin and ether buying feature to customers in Canada and Singapore.

Users in the two countries will be able to purchase the cryptocurrencies instantly with their debit and credit cards.

Canadian users will be restricted to buying bitcoin and ether while not being to sell them just yet, similar to their counterparts in Australia. As with Australia, Coinbase says  its working toward the selling option and can be expected to be made available soon.

Meanwhile, Coinbase will stop supporting CAD services in Canada including EFT transfers, CAD storage on Coinbase and Interac transfers due to the unexpected shutdown of its payments provider Vogogo. Coinbase’s CAD services in Canada will cease to exist as of August 1. Today, July 29, would be the last day for Canadian users to freely withdraw CAD from their Coinbase accounts, or convert them to bitcoin and ether.

Altogether, Coinbase’s expansion effort sees its presence in a total of 33 countries. The San Francisco-based bitcoin company is predominantly available in countries across Europe. Australia and Singapore are the two countries where Coinbase exists in the eastern hemisphere. Singapore is currently the only Asian country on that list.

That might soon change however, following a recent investment round that saw Coinbase gain investment and a partnership with Japan’s largest bank by assets, the Bank of Tokyo-Mitsubishi UFJ (BMTU). Coinbase has raised $10.5 million from investors in an effort to launch its services in Japan.

Featured image from Coinbase.