Sector Strength No. 2

WonderFi has announced a strategic partnership between its subsidiary, Bitbuy Technologies Inc., and Localcoin, the largest bitcoin ATM provider in Canada.

Under this partnership, Bitbuy’s digital asset services will now cover up to half of the country’s Bitcoin ATMs.

According to WonderFi, Canada continues to be a standout in the cryptocurrency ATM space, with a total of 2,747 ATMs, second only to the United States. Through its subsidiaries, WonderFi Technologies currently provides 1.6 million Canadians with access to regulated cryptocurrency trading and storage through subsidiaries including Bitbuy, Coinssquare, and CoinSmart. The exchange became the second to re-list XRP after Binance.

With the completion of the Localcoin partnership, Bitbuy’s digital asset services are preparing to expand their coverage to include some of the company’s ATMs.

Paving the way for Canadians

Localcoin is a prominent player in Canada’s cryptocurrency ATM sector, offering a network of accessible and user-friendly ATMs across the country to buy or sell Bitcoin, Ethereum, and Litecoin. Localcoin’s scope includes 920 ATMs, ensuring a significant 33% share of the cryptocurrency ATM market in Canada.

Despite uncertain regulations in the south and across the pond, the announcement of the new partnership, along with Coinbase’s entry into the country in August of this year, highlights Canada’s continued interest in digital assets.