Key Points:
- Lucas Matheson, the CEO of Coinbase Canada, is advocating for greater blockchain adoption and regulatory clarity in Canada ahead of the country’s upcoming election on April 28, 2025.
- Coinbase Canada is working towards full dealer registration to broaden its service offerings in response to the country’s significant interest in cryptocurrencies.
- Matheson calls for a national crypto strategy and improved banking options for crypto platforms to position Canada as a leader in the digital economy.
As Canada approaches its pivotal election set for April 28, 2025, Lucas Matheson, the head of Coinbase Canada, is pushing for the integration of blockchain technology in a market he sees as ripe for innovation. In an interview, he discussed Coinbase’s growing presence, the distinctiveness of the Canadian market, and his aspirations for the future of cryptocurrency in the nation.
Matheson, an entrepreneur with a background in traditional finance and tech startups, previously spent several years at Shopify before joining Coinbase. He encourages the Canadian government to act swiftly in embracing cryptocurrency as part of the economy.
As an established player in the market, Coinbase has been operating in Canada for nearly four years and aims to become fully registered under Canada’s Investment Industry Regulatory Organization (IIROC), allowing them to offer a wider range of services.
Matheson emphasizes the historical significance of Canada in the cryptocurrency scene, coining the fact that Ethereum originated in the country. Despite this, he notes that convincing local institutions to adopt this technology remains a challenge.
Canada recognizes itself as one of the top countries globally in terms of cryptocurrency awareness, and Matheson assures that this high level of familiarity translates into considerable adoption rates. He anticipates that by year’s end, around 30% of Canadians are expected to own digital assets.
Furthermore, Matheson expressed a strong desire for policy shifts from the new government, such as establishing a national cryptocurrency strategy and improving bank access for crypto platforms, which currently struggle with banking relationships.
He leads Stand with Crypto, an organization that seeks to promote clear regulations and help unify industry voices in advocating for a better regulatory framework.
In his closing remarks, Matheson expressed optimism about Canada’s potential to emerge as a leader in the global cryptocurrency landscape, emphasizing the importance of integrating technology efficiently into economic frameworks.
