Lucas Matheson, CEO of Coinbase Canada, on Crypto in Canada, Institutional Interest, and Improving Crypto Literacy in Canada | Ep. 398

Lucas Matheson, CEO of Coinbase Canada, joined the Cryptonews Spotlight podcast to discuss Canada’s role in the global crypto landscape, the push for regulatory clarity, and efforts to educate Canadians about digital assets.

Coinbase’s Return to Canada

“Coinbase Canada is now the first international exchange to be registered in Canada.”

Lucas recounted Coinbase’s commitment to the Canadian market, describing the regulatory compliance process and the launch of a restricted dealer registration.

Coinbase aims to make crypto more accessible to Canadians by ensuring secure, seamless transactions.

Role of Regulation in Canadian Crypto Sector

“Canada is actually quite far ahead in terms of regulatory clarity.”

Matheson emphasized how Canada’s regulators have worked towards clarity, creating an environment where crypto exchanges can thrive while keeping Canadians safe.

Canada’s Crypto Awareness

“Canada is the third most crypto-aware country of all the international geos we operate in.”

Lucas highlighted Canada’s high crypto literacy, with a significant percentage of Canadians understanding and engaging with digital assets.

Shift Towards Institutional Adoption

Matheson described how Canadian banks and institutions are increasingly exploring digital assets as part of their wealth management strategies.

“Institutions are following on… understanding what Bitcoin is and the value it provides.”

Improving Crypto Literacy in Canada

Coinbase Canada focuses on educating Canadians about crypto basics, providing tools and resources to help users make informed decisions.

“We are trying to build a long-term partnership with Canadians to help them build wealth and diversify into digital assets.”

Challenges of Innovation in Canada

Lucas discussed Canada’s regulatory hurdles and opportunities, highlighting the balance between compliance and fostering innovation.

“The con is that it’s harder to innovate here, but the pro is that we have a high-trust environment for crypto to thrive.”

Stand With Crypto Advocacy

“Stand With Crypto is an advocacy group that helps connect government officials with entrepreneurs to understand the use cases of digital assets.”

Through initiatives like Stand With Crypto, Coinbase is actively working to educate policymakers and align crypto regulation with innovation.

Helping Canadians Navigate Economic Challenges

“Our Canadian dollars are decreasing in value by about 8 percent a year, and people are exploring assets that can increase purchasing power.”

Lucas pointed to inflation as a key driver for Canadians seeking alternative stores of value like Bitcoin.

Canada’s Unique Financial Landscape

“We have five banks that control 85% of all domestic assets.”

Matheson explained the challenges of introducing decentralized finance in a country with a highly centralized banking system.

Future of Wealth Management

Lucas highlighted the need for financial advisors to gain crypto knowledge to better serve their clients and diversify portfolios.

“80% of wealth in Canada is managed by investment advisors who lack the education to discuss digital assets.”

Building Trust in Coinbase

“We are a publicly traded company, audited, supervised, and acting in the best interest of our clients.”

Lucas underscored Coinbase’s commitment to providing Canadians with a secure and trustworthy platform for digital asset investments.

Global Trends Driving Crypto Adoption

“The rest of the world is moving aggressively to adopt this technology, and Canada needs to step up.”

He described how global advancements in crypto regulation and adoption are pressuring Canada to act.

Fostering Innovation through BASE

Coinbase’s BASE initiative focuses on empowering developers and expanding Web3 ecosystems globally.

“That’s why we built BASE, a Layer-2 protocol where tens of thousands of developers are building and innovating in Web3.”

Canada’s Crypto Outlook for 2025

“Crypto has been cemented into the history books, and institutions are starting to appreciate its value.”

Lucas predicted a surge in institutional and government participation in crypto, driven by regulatory clarity and economic incentives.