Cryptocurrency trading platform Cumberland has added the ability to trade in Canadian dollars. This move from the firm came after an agreement with Canadian-based cryptocurrency platform BitBuy, while aiming to increase liquidity on the stock market.
Cumberland DRW, a leading liquidity provider in digital assets, has announced that its clients now offer the ability to trade in Canadian dollars. The announcement comes a week after Cumberland partnered with BitBuy, the registered Canadian crypto trading platform to increase liquidity in the exchange’s crypto asset market.
Alex McDougall, president and CEO of Stablecorp, commented on Cumberland’s announcement that it supports crypto transactions in Canadian dollars: “This situation is not unexpected. Given that we still pay a significant difference to process transactions in Canada, it will be interesting to see if the entry of a major global player like this affects Canadian dollar pricing to end retail customers.”