Bitbuy Closes Strategic Partnership with Localcoin to Improve Crypto Adoption

On Monday, September 18, the fast-paced fintech company in Canada inked a strategic partnership agreement with Localcoin, a crypto ATM provider. A blog post by Bitbuy’s parent company, WonderFi Technologies, indicated that the two partners will promote crypto adoption and improve accessibility to financial services and products.

Bitbuy Partners with Localcoin

 In an exclusive interview with Localcoin, the crypto ATM provider admitted that Bitbuy was the suitable partner for the business to attain the end goal. The Localcoin spokesperson stated that Bitbuy has solidified its market presence in Canada and has demonstrated its commitment to comply with the regulation.

Beyond this, the spokesperson argued that Bitbuy is expected to increase its customers to 900000 by October. An announcement conveyed by the chief executive of WonderFi, Dean Skurka, portrayed the willingness of Bitbuy to work closely with Localcoin.

The WonderFi boss lauded the remarkable contribution made by Bitbuy and Localcoin in increasing their brand value. The CEO described the strategic partnership as a beneficial project for the two companies.

Skurka highlighted that the Bitbuy marketplace offers deep liquidity that will work well with the broad ATM network of Localcoin. He stated that the strategic partnership will support Bitbuy to provide effective and user-friendly trading solutions.

The executive noted that the Bitbuy liquidity services and reliable order execution will improve the performance of the Localcoin liquidity pool. The proposed development seeks to enable Localcoin users to trade their digital assets in a timely manner and at a competitive cost.

Significance of the Strategic Partnership

In addition, the Bitbuy and Localcoin team agreed to integrate multiple application programming interfaces (APIs) to improve system connectivity. The proposed API integration will support the Localcoin liquidity and pricing system.

Reflecting on the partnership agreement, the two companies pledged to enhance security and user privacy by adopting measures that safeguard users from exploits.

Elsewhere, the co-founder of Localcoin, Tristan Fong, anticipates that the strategic partnership will be a game changer. He stated that partnering with the most trusted brand in the crypto sector will enable Localcoin to boost user experience.

Fong acknowledged that the partnership supports the crypto ATM provider to expand its products and attain its mission statement. He added that since 2017, the Localcoin team has been pursuing ways to improve the accessibility of crypto assets to Canadians.

The Toronto-based crypto ATM operator anticipates integrating Bitbuy proprietary tools on its networks in a few weeks. Notably, the strategic partnership with Localcoin marks a significant milestone for Bitbuy to increase its corporate partners.

Report from the head of sales at Bitbuy, Jeff Fitzgerald, stated that this year, the fintech company has entered into a successful partnership deal with Corporate Solutions Desk and Localcoin.

Objective of Bitbuy and Localcoin Partnership

Fitzgerald pointed out that Bitbuy plans to attract large audience and improve its scalability to become  the largest crypto trading company in Canada. Particulary, pursuit to gain dominance in the Canadian crypto sector challenges Bitbuy to invest heavily in diversifing its product line to meet the ever-changing needs of institutional and retail investors.

The fintech company has specialized in providing trading and staking services, which align with Localcoin’s core business. Localcoin ranks as a first-paced crypto ATM provider in Canada, offering a wide range of networks.

The Localcoin plays a critical role in the ongoing push towards mainstream crypto adoption by providing Canadians with a user-friendly ATM. Mostly, the Localcoin team supports the transactions involving major tokens, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), among others.

Additionally, the Localcoin team has deployed effective strategies to provide users with a convenient and secure platform for trading cryptocurrency. According to the Localcoin website, the company has demonstrated its commitment to safeguarding the user by integrating revolutionary software that enhances privacy and security.

For seven years, the Localcoin team has installed 920 ATMs, which constitutes 33% of the 2747 ATMs available in Canada. Its popularity has grown even in the US, portraying the significant development made by Canadians to stimulate the growth of the crypto industry.

Besides the Bitbuy partnership, the Localcoin team have partnered with best-performing firms, including Hasty Market & INS, to support service delivery and expand its market presence. 

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