Coinbase Canada CEO Eric Richmond says regulatory gaps prevent offering derivatives, DeFi, and tokenized assets to Canadian users. He calls for harmonized national crypto rules to close the product gap.
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Coinbase (COIN) wants to bring derivatives, tokenized assets and decentralized finance services to Canada. The company says the country's regulatory framework needs to change first.
Eric Richmond, Coinbase's Canada CEO, made the case at the Blockchain Futurist Conference in Toronto. The exchange aims to become a full blockchain-powered financial platform, not just a crypto trading venue, he said. Richmond confirmed Coinbase is committed to launching more products for Canadian customers. The biggest hurdle is regulatory clarity.
Canada was an early mover on spot crypto ETFs and created a registration framework for trading platforms. Much of that progress rests on regulatory exemptions and staff guidance, not permanent digital asset legislation. Richmond argued Canada now needs a dedicated legal framework that gives long-term certainty. Harmonized national rules would make it easier to introduce innovative products across all provinces, he said.
The regulatory gap shows up in product availability. Coinbase offers U.S. users a stablecoin lending program yielding around 7% APY. Canadian customers can earn up to 4.5% APY by holding USDC. Richmond said his goal is to narrow that gap.
Coinbase is also working to expand access to crypto futures through its CFTC-regulated subsidiary. Some Canadian investors can already use those products via an international exemption. Broader retail access would need additional approvals under Canada's current rules.
Richmond welcomed Canada's recent Stablecoin Act as a positive step. He highlighted the launch of CADD, the country's first regulated Canadian-dollar stablecoin, issued by Tetra Trust. Transforming existing guidance into a harmonized national instrument would reduce legal uncertainty and encourage innovation, he said. That would help Canada stay competitive as blockchain adoption grows in payments, tokenized securities, derivatives and decentralized finance.
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