Cryptocurrency exchange Coinbase has announced its expansion plans in Canada as part of its ongoing international expansion strategy.

As part of their commitment to the Canadian market, Coinbase Canada has signed an enhanced Pre-Registration Undertaking (PRU) on March 24th. The company is working closely with policymakers to establish a strong regulatory framework for cryptocurrencies in Canada that protects consumers while embracing innovation.

To spearhead their efforts in Canada, they have appointed Lucas Matheson as the Country Director, based in Ottawa.

"Lucas brings a wealth of experience from his time at Shopify and with leading financial institutions in Canada. He is passionate about the potential of cryptocurrencies to transform the financial landscape and is excited to help make crypto more accessible in Canada, and be a part of Coinbase's mission to increase economic freedom." the firm said in the statement.

Coinbase said Canada has long been a key market in Coinbase's Go Deep roadmap. They have built out a tech hub in Canada with over 200 engineers. In addition, the global leadership team will be making frequent trips to Canada to engage with regulators, partners, and the community to better understand the Canadian market and its unique needs.

"Our goal is to provide the most trusted and secure platform for Canadians to buy, sell, and trade crypto and we are grateful for a thoughtful and responsible regulatory review process." the firm added.