Buying and selling Bitcoin and altcoins has become easier for Canadians, as Expresscoin is set to expand into Canada. Expresscoin will offer crypto currency payments through DebitWay a trusted third party that offers merchants INTERAC Online Payment services, which allow consumers to pay for goods and services online, directly from their own bank account in real time.
Expresscoin was founded in California in 2012 with the goal to make it easy for everyone to buy Bitcoin, especially the unbanked. This is why they have several options currently available in the US to transfer fiat, such as money order or cash deposit – methods that are geared towards people who might not have a bank account (to link to their Coinbase account, for instance).
“With DebitWay, expresscoin is dedicated to providing fast and secure transactions for our customers,” said expresscoin CEO and co-founder Will Wheeler. “We felt it only made sense to offer our safe digital currency retail service through Canada’s most trusted fiat exchange service so Canadian customers can participate in the digital currency economy and experience the same trust and security they have in their fiat exchange service with expresscoin.”
This is a major step for Expresscoin, especially because Canada has recently passed laws specifically targeting Bitcoin companies for regulation. Expanding to Canada gives Expresscoin another layer of legitimacy, since there are more well-defined rules regarding how Bitcoin and cryptocurrencies are going to be regulated in Canada than the US. Expresscoin and Canadian subsidiaries have registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Currently, Expresscoin will support Bitcoin, Litecoin and Dogecoin but promises to add more cryptocurrencies in the future. It’s one of the easiest ways to buy coins like Doge with fiat without going through an intermediate step of converting fiat to Bitcoin.
Canada is a fast growing market for both consumers and businesses and is taking the lead in several areas in Bitcoin (e.g. Bitcoin ATMs). It’s always good to see businesses trying to expand into Canada and gain a foothold of the market there which is fairly active. Expresscoin seems to be on the right track with this Canadian expansion.