- Coinbase customers can use Trustly to move funds between bank accounts and crypto wallets
- They can deposit funds instantly and withdraw them using EFT or Interac payment rails
Coinbase has announced a partnership with Trustly as an integral part of its expansion into Canada and its commitment to make secure, simple, direct account-to-account payments accessible to the local market. Coinbase customers can use Trustly’s Open Banking Payments to move funds between their bank accounts and their crypto wallets directly, according to a press release.
Seamless deposits and withdrawals with Interac, EFT
Canada ranks as the third-most crypto-savvy country in the world. In combination with its solid regulatory framework, it’s the perfect fit for novel financial services and alternative payment methods.
Trustly will let Coinbase users deposit funds instantly or withdraw them using EFT or Interac payment rails. The company is a global leader in open banking transactions. They boast simple and secure payments and connect some of the best-known merchants worldwide with buyers, directly from online banking accounts.
A third of Canadians plan to buy crypto in 2024
Crypto is becoming more popular in Canada. According to a survey by the Ontario Securities Commission, about a third of Canadians intend to buy cryptocurrency next year. Coinbase customers can use the EFT network to take advantage not only of seamless transactions, but also of high-value deposit limits.
Nana Murugesan, VP International and Business Development at Coinbase, told BNN Bloomberg in an interview that Canada could be a leader in the global crypto economy. It is Coinbase’s next “Go-Deep” market, according to him. He expressed optimism despite Coinbase being in hot water with US regulators and commented:
We are excited to partner with Trustly to offer additional financial options for our Canadian customers to deposit and withdraw funds from our platform.
Ross McFerrin, VP Enterprise Growth at Trustly, added:
Trustly is thrilled to support Coinbase and its expansion into Canada. We believe our Open Banking platform will make investing in cryptocurrency more convenient and secure for Canadians. We are excited to see how our partnership with Coinbase, a leader in the industry, unfolds.
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