The cryptocurrency-trading platform is the second in Canada—and the first owned by a publicly traded company—to gain securities regulators’ approval to offer the service. (The Logic)
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The cryptocurrency-trading platform is the second in Canada—and the first owned by a publicly traded company—to gain securities regulators’ approval to offer the service. (The Logic)
Talking point: Canada is once again leading the way on crypto regulation. WonderFi-owned Bitbuy’s approval to offer staking—in which crypto asset holders agree to lock up tokens for a period of time and participate in the network’s security and operations in exchange for rewards—comes one week after Wealthsimple’s. The approvals, which are subject to certain conditions, are the first in the world from regulators, according to Bitbuy. Regulators gave the green light for Bitbuy to partner with Figment, a Toronto-based staking-as-a-service business with billions of dollars worth of crypto assets staked to its validators that was most recently valued at US$1.4 billion. Bitbuy plans to launch staking on Nov. 28 and will only offer the service for the Solana token to start, with plans to add Ethereum and other assets soon.
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