With crypto-commerce companies in the United States, Europe and Japan making headlines this year for taking the cryptocurrency business to new heights, it’s easy to forget that the rest of the world has largely remained on the sidelines.
While some businesses are starting to make a name for themselves in the crypto space, it can be hard to pin down exactly how much of a role the crypto sector is playing in the global economy.
A closer look at how some of the biggest names in the sector are investing in the Canadian market reveals a few interesting points of interest.1.
The Canadian market is big enough to support a lot of crypto startups, but not as big as some of their US counterparts2.
There’s a lot more to the Canadian cryptocurrency space than just an influx of big names3.
While the Canadian economy is not yet fully integrated with the rest the world, a few Canadian-based companies are taking it one step further, looking to diversify their operations and find new marketsFor many of these Canadian-focused companies, it seems they’re trying to stay relevant in the digital world.
Cryptocurrencies, after all, are becoming increasingly popular as digital payments become increasingly commonplace.
But that doesn’t mean that crypto-based businesses can’t still thrive, especially if they can attract top talent and attract investors to their companies.
“I’m a believer in the idea of a global market, a global economy,” said Jason Fruhwirth, co-founder of Coinlab, an online exchange and crypto-currency marketplace in Toronto that’s also one of Canada’s largest cryptocurrency businesses.
“If we were to say to our investors, we need to build a global presence, we can do that through our Canadian businesses.”
Fruhwir is a Canadian born to a U.S.-based family, and he and his wife, Joanne, are currently investing in Canadian businesses.
For his company, Coinlab aims to help investors in Canada and abroad find more ways to invest in the world’s most popular digital currency, and help Canadians realize their potential.
“The fact that there’s an ecosystem of crypto businesses here, that we’re here in Canada, and we’re all trying to be as part of that ecosystem,” said Fruhzir.
“It’s an incredible ecosystem and we just hope we can help make it more sustainable.”
In the first half of 2018, CoinLab was the first Canadian company to launch its own cryptocurrency exchange, Coinmama, a crypto-trading platform that allows investors to trade crypto-assets in a number of different currencies including Bitcoin and Ethereum.
The company also launched a second exchange called Crypto Capital, which allows Canadian investors to buy, sell and store crypto-currencies, as well as other crypto-focused products.
At the same time, Fruhwirth says there’s still a lot to do in Canada for the crypto industry to grow in the country.
“It’s really important for us to start building our brand here,” he said.
“We need to grow the Canadian presence.
We need to make sure that we get a foothold here in the U.K. and the U