Trustly has partnered with Coinbase to be an essential part of its expansion to the Canadian market, providing secure account-to-account (A2A) payments utilizing our Open Banking Payments services. Coinbase users in Canada can now deposit and withdraw funds directly from their bank account to/from their crypto account using EFT or Interac payment rails.
The Ontario Securities Commission reports that over 30% of Canadians plan to buy crypto assets within the next year. Canada’s demand for cryptocurrency continues to rise, and combined with its strong regulatory framework, Canada is a prime fit for alternative payment methods.
Trustly is excited to work with Coinbase to support its expansion into Canada with our Open Banking platform. We look forward to continue strengthening our offerings by enabling direct bank transfers over EFT later this year which will enable seamless transactions and high-value deposit limits.
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 and 2021 we processed over $42 billion in transaction volume in our global network.
We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.
Coinbase is building the cryptoeconomy – a more fair, accessible, efficient, and transparent financial system enabled by crypto. Coinbase started in 2012 with the radical idea that anyone, anywhere, should be able to send and receive Bitcoin easily and securely. Today, Coinbase offers a trusted and easy-to-use platform for accessing the broader cryptoeconomy.