L2 cryptocurrency exchange platform Coinweb expands to Canada with purchase of OnRamp »CryptoNinjas

L2 cryptocurrency exchange platform Coinweb expands to Canada with purchase of OnRamp »CryptoNinjas

Coinweb, a Layer-2 (L2) cross computing platformannounced today that it has acquired OnRamp Technologies, a company registered with FINTRAC, a payment services company with Money Services Business consultants (MSB) that provides customers with access to fiat rails for projects being built on top of the Coinweb platform in Canada.

This license allows Coinweb to provide its services to customers in Canada for the first time, enabling the launch of the platform in North America shortly after approval European Digital Asset License.

Canada’s MSB licenses allow Coinweb to offer virtual currency exchange and transfer services, paving the way for a wallet integrated into fiat rails with a cross-chain tokenization feature.

“Applications for digital asset licenses are subject to constant revision and tightening of regulations in most jurisdictions. The race to deliver the regulatory framework is underway with many countries wanting to position themselves as ‘crypto-friendly’, and Coinweb’s position is to continue with the second bounce of the ball and stay ahead of the curve. The takeover of the Canadian MSB marks the beginning of our entry into North America to better service our partners and customer base. ”
– Coinweb CEO Toby Gilbert

The Coinweb team plans to continue working on licensing around the world as the new regulatory frameworks begin to apply. As Coinweb’s capabilities expand, these licenses will help provide liquidity and enable the smooth inclusion and exclusion of fiat with crypto assets.

Coinweb provides expanded solution space and combines platform risk reduction for dApps unifying interoperability with a large capacity budget.

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