In a bid to onboard new users, Coinbase One.will also offer Canadian nationals a free 30-day trial to its newly launched subscription service
The service, which focuses on staking, also features zero trading fees and priority customer support.
According to the statement, the company decided to land in Canada due to its alleged high “crypto-awareness” along with what it said is a robust regulatory framework.
This comes in stark contrast to the current legal issues the firm is dealing with stateside.
Coinbase has recently felt the brunt of American regulators, after the SEC sued the company for allegedly failing to register as a securities exchange and broker, along with allegedly offering unregistered securities to its users.
Canada made headlines in late June when a group of thirty Canadian lawmakers published a report endorsing cryptocurrencies and blockchain technology, with 16 recommendations for the country’s government to create a national strategy on the matter.
Notwithstanding the report, Canadian authorities have sent mixed signals regarding cryptocurrency.
Coinbase on the ropes
Despite its financial results for the second quarter exceeding expectations, the company posted a second-quarter $96 million dollar loss.
Late last week also Coinbase launched Base, an Ethereum layer-2 network, in a bid to bolster the development of new decentralized apps in its ecosystem. It surged in the days after, becoming a top five layer-2 network by total amount bridged.