Wirex announces new operations in Canada after registration in the country
Wirex will expand in a new market after having obtained a commercial registration with Fintrac and Money Service Business in Canada. was released by the company in a blog post on September 14th.
The company allows users to use cryptocurrencies to pay for purchases made using traditional wire and Visa contactless cards. An important and interesting feature of the company is that it offers a rewards program that allows card holders to receive 0.5% in Bitcoins every time they buy something.
Users will be able to use the Bitcoin (BTC), Litecoin (LTC), XRP and Ethereum (ETH) portfolios and connect them with their accounts.
According to Wirex, Canada advertises her way into Ethereum's blockchain technology. This could be linked to the fact that Vitalik Buterin lived in the country. However, in terms of the general adoption of blockchain, the United States and the United Kingdom are leading the market.
Also, Canada is a big place for cryptocurrent miners . The country produces an important amount of electricity that can be sold to other countries like the United States. This is another reason why there are several miners located in this country.
The report explains that Canada has over 600 different Bitcoin ATMs in the country. This means that it is the second country after the United States in terms of the number of ATM Bitcoins available.
In addition, according to the Ontario Securities Commission, 5% of the inhabitants of Ontario possess at least one cryptocurrency. The Bank of Canada found that 5% of all Canadians own Bitcoin, a number that is almost twice as high as in 2016.
Wirex has now received a Fintrac and Money Services Business registration to operate in the country.
The press release informing you that:
"Users in Canada can already take advantage of our secure Bitcoin, Litecoin, XRP and Ethereum portfolios, low rates and fantastic exchange rates." Next "Traditional currency accounts and cards contactless Wirex Visa that allow you to convert and spend your crypt as a traditional currency in stores, restaurants, bars and online. "
Canada has also approved a regulation for a Bitcoin fund . This is the first and only regulated Bitcoin Trust that has been suitable for accredited investors, who will now gain exposure to the cryptocurrency market without having to worry about managing and conserving resources.