Coinbase has a new pitch for Canada: stop thinking of the company as just a crypto exchange, and start seeing it as the only financial app the country needs.
"I think chapter one of Coinbase in Canada was really about being a crypto exchange," Richmond said. "But now phase two of that is the Everything Exchange. How do we create that one place for Canadians to have their entire financial experience in one app that's underpinned by this technology that makes things frictionless, seamless, and 24/7?"
On competition from Robinhood and traditional Canadian brokerages, Richmond wasn't particularly worried. "I think people are starting to realize the fact that banks close at 4 p.m., or the markets close at 4 p.m., or that wires can take days to settle, or that access for high-net-worth individuals to certain products are gated for just those high-net-worth individuals," he told BNN Bloomberg.
His five-word summary: "Rising tide lifts all boats."
The Bank of Canada is expected to finalize stablecoin implementing regulations in 2027—the last major regulatory piece Coinbase needs before it can list a Canadian dollar stablecoin and fully roll out the Everything Exchange in the country.
