Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is now available in Ontario. The company has announced the launch of its Canadian dollar (CAD) trading pairs on its platform.
The move comes as the Toronto-based cryptocurrency exchange looks to expand its reach in North America.
The launch of Binance’s CAD trading pairs comes as the exchange looks to capitalize on the growing interest in cryptocurrency in Canada. The country has seen a surge in cryptocurrency trading activity in recent months, with the total value of all digital assets traded on Canadian exchanges reaching a record high of $1.
3 billion in January 2018.
Binance’s expansion into Canada is part of its broader plan to expand its operations in North America. The exchange is already available in the United States and is looking to launch its platform in other jurisdictions, such as Mexico and Puerto Rico.
The launch of Binance’s CAD trading pairs is good news for Canadian cryptocurrency investors, as it provides them with another option for buying and selling digital assets. However, it is important to note that Binance is not currently licensed to operate in Canada and is not subject to Canadian regulatory oversight.
This means that investors using the platform are not protected by Canadian securities lAWS.
Despite this, Binance’s expansion into Canada is a positive development for the country’s cryptocurrency industry and will likely lead to more investment and innovation in this space.