Canadian | Crypto

Canadian fintech Mogo announced on July 2 that its board had cleared up to $50 million for staged Bitcoin purchases as a long-term treasury reserve, prompting its shares to jump 140% at market opening on the Toronto Stock Exchange. MOGO closed July 1 priced at 1.74 Canadian dollars, worth roughly $1.28. It opened on July […] The post Canadian fintech Mogo’s $50M Bitcoin reserve plan ignites 140% share surge at market opening appeared first on CryptoSlate.

Tether’s investment in Canada’s Elemental Altus Royalties follows the company’s strategy to “integrate long-term, stable assets such as gold and Bitcoin in its ecosystem.” Tether, the issuer of the world’s largest stablecoin by market capitalization, continues its buying spree with its 32% stake acquisition in Canada’s public gold royalty firm Elemental Altus Royalties. Tether Investments on Thursday announced the acquisition of 78,421,780 common shares of Elemental (ELE) from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares. The transaction, completed Tuesday, was made at a price of $1.55 Canadian dollars ($1.14) per share, according to an announcement by Elemental, costing Tether approximately $89.4 million. Read more

Father-son team Kain and Laban Roomes are using XRP Ledger to track and dispense medicines in Uganda and are listing the startup in Canada. Its been a long road for entrepreneur Laban Roomes and his footballer-turned-crypto founder son Kain, but their XRP Healthcare startup is in the process of going public on the Canadian stock exchange. They co-founded the Dubai-incorporated company with the goal of modernizing healthcare in Africa by combining crypto infrastructure, artificial intelligence, and real-world services. It operates a digital healthcare platform as well as a chain of pharmacies in Uganda using the XRP Ledger to track pharmaceutical supplies and patient outcomes. In the West, we take reliable pharmacies and access to medication for granted, says Laban. In parts of Uganda, that just isnt the case. This is about changing that and starting on the ground, not in the metaverse. Read more

In an exclusive interview with Cointelegraph at the Futurist Conference, Coinbase Canada’s CEO disclosed a recent investment in Stablecorp and outlined plans for the local stablecoin market. Coinbase has partnered with Canadian stablecoin issuer Stablecorp in a bid to expand access to tokenized Canadian dollars, a company executive told Cointelegraph during the Blockchain Futurist Conference in Toronto. According to Coinbase Canada's CEO, Lucas Matheson, the exchange is investing an undisclosed amount in Stablecorp and will help market its fiat-collateralized stablecoin, QCAD. “It’s really important that we have a stablecoin for Canadians,” Matheson told Cointelegraph in an exclusive interview on May 13, adding that stablecoins are especially urgent because the country has “no peer-to-peer [payment] rail” and “wire transfers cost $45 and take 45 minutes of paperwork.” Read more