The Canadian Stock Exchanges of New York Stock Exchange and Toronto Stock Exchange will soon allow people to exchange bitcoin for Canadian dollars, according to the company’s website.
The exchange’s bitcoin exchange will be able to accept bitcoin payments from investors, the company said.
Bitcoin is an alternative digital currency that can be used to purchase goods and services, as well as for online transactions.
Its value is set to grow significantly this year as the bitcoin price continues to soar, rising from around $1,400 per coin to more than $4,000 per coin in recent weeks.
Investors are buying and selling bitcoin through exchange platforms like BitStamp, Gemini and Coinbase, which is now the second-largest bitcoin exchange in the world.
The U.S. exchange Kraken, which has been selling bitcoins since late March, is also a major player in the bitcoin exchange market.
The Bitcoin ETF, which tracks the value of bitcoin and other cryptocurrencies, recently approved a proposal to sell bitcoin.
Bitcoin futures contracts traded on the New York Exchange have also been up nearly 70% since last week.
The Canadian Stock Exchange (CSE) is to open its first trading floor in Ottawa on Friday, the company announced.
CSE is also to open a new office in Edmonton.
The Canadian Diamond Exchange (CDE) will open in the city’s West End by June 2021.
The company said that the new building will have the same size and look as the one in Vancouver.
The new CSE will operate as a wholly-owned subsidiary of the Canadian Imperial Bank of Commerce (CIBC).
CIBC is the largest Canadian bank with a market capitalisation of $14.7 trillion.
From London to Tokyo to Singapore, many companies have started offering tax deferred exchanges for their shares.
But what does this mean?
Read more The tax deferred fund is a type of exchange that allows investors to put their money in a foreign country, usually in a tax-free account or in a US tax-exempt account, and receive a tax receipt at the end of the year.
There are several tax deferred funds available, but for those of us who are still living in the UK, the Tax Deductions for Overseas Investment scheme offers the biggest bang for the buck.
You can find out more about the Tax Dependent Fund here, and the Tax-Free Savings Plan here.
Read more about tax deferred stocks.
This article contains affiliate links, which means we may earn a commission if a reader clicks through and makes a purchase.
All our journalism is independent and is in no way influenced by any advertiser or commercial initiative.
The links are powered by Skimlinks.
By clicking on an affiliate link, you accept that SkimLinks cookies will be set.
More from Investopedia:Tax deferred fund: Is it a good idea?
How to invest in tax deferred shares: How much do you need to invest?