Coinbase wants to become Canada's 'everything exchange.' That's the goal laid out by Eric Richmond, the company's new country head for Canada. Richmond, who took the role recently, is pushing the exchange to expand into derivatives, tokenized assets, and decentralized finance. But he says the company needs permanent regulatory rules — not the temporary exemptions that have governed crypto so far.
A new leader for Canada
Eric Richmond now leads Coinbase Canada. His appointment signals the company's seriousness about the Canadian market. Richmond's job is to navigate the country's patchwork of provincial securities regulators and push for a unified, lasting framework. He's not wasting time.
Expansion plans: derivatives, tokenized assets, DeFi
Coinbase already offers spot crypto trading in Canada. But Richmond wants more. The company is eyeing derivatives — products like futures and options tied to digital assets. It's also looking at tokenized assets, which represent real-world items like stocks or real estate on a blockchain. And it wants to dive into decentralized finance, or DeFi, the ecosystem of lending, borrowing, and trading that runs on smart contracts.
These are big bets. Derivatives alone are a multi-billion-dollar market globally. Tokenized assets could open up new ways to trade traditional securities. DeFi, though still young, is growing fast. Coinbase wants to be the platform that does it all.
The regulatory ask: permanent rules
Right now, many crypto firms in Canada operate under temporary exemptions from securities laws. Those exemptions give them room to test products, but they're not a long-term solution. Richmond says that's a problem. Without permanent rules, companies can't plan for the future. They can't invest in big projects or hire with confidence.
Coinbase is calling on Canadian regulators to finalize a clear, permanent framework. The company wants rules that cover everything from custody to trading to lending. It wants a level playing field where innovation can happen without constant uncertainty. The message: give us rules we can follow, and we'll build.
For now, the wait continues. The Canadian Securities Administrators are working on a new regulatory regime for crypto, but no timeline has been set. Coinbase is ready to move. Whether the regulators are ready to match that pace is the open question.
