Coinbase plans to launch crypto derivatives for Canadian clients within weeks
On stablecoins, the platform mainly supports USD Coin, a US token pegged one-to-one to the US dollar, and does not list a major Canadian dollar equivalent because no domestic token has met regulators’ listing standards, BNN Bloomberg reported.
Richmond linked the gap to pending legislation.
The Stablecoin Act is meant to “regulate stablecoins as payments, not as investments,” he said, giving users confidence in a Canadian dollar stablecoin.
Stablecoin volume hit US$1.8tn in June, Richmond said, up 125 percent year over year.
Richmond also said Coinbase holds a Canadian Securities Administrators exemption to pay rewards in digital assets, offering customers roughly 3 percent on USDC, and he wants that protected under the incoming rules.
