Bitbuy and Coinsquare, prominent Canadian crypto exchanges, have collectively surpassed $1 billion CAD in client assets. This milestone, announced on Dec. 6 by parent company WonderFi, represents significant growth from the $695 million CAD recorded in the third quarter. The increase in assets underlines the exchanges’ expanding influence in the Canadian cryptocurrency market.
The announcement details a noticeable increase in user engagement on these platforms. In November, there was a 16% rise in monthly active users compared to October. Additionally, the platforms witnessed a 54% surge in total trading volume, indicating heightened user trading activity.
Canadian Crypto Exchanges Embrace Regulatory Compliance
Bitbuy and Coinsquare have made notable strides in regulatory compliance, a crucial aspect for Canadian crypto exchanges. In November 2021, Bitbuy achieved a landmark by becoming fully regulated after obtaining a license from the Ontario Securities Commission. Following suit,
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