A Canadian based Bitcoin exchange, BitNational, has acquired Bitcoin Brains Inc. BitNational will be able to increase its market share in the Bitcoin brokerage arena with this partnership.
BitNational’s Calgary based operations will be able to expand their operations to more Canadian locations. This will allow BitNational to move a step closer to developing a nationwide network of Bitcoin exchanges.
Matt Haddon, the co-founder of BtiNational, is very optimistic about the company’s move. With Bitcoin Brain’s Alberta centered crypto-currency exchange services, BitNational will be able to expand its service portfolio to a larger region.
BitNational currently has ATMs setup in three cities across Western Canada.
This 10-year contract with Bitcoin Brains was singed with an amount of $2.1 Million. The agreement itself took place in the crypto-currency domain, with the amount deposited to two of the three multi-signature Bitcoin addresses. This sets an example for the potential of Bitcoin to conduct secure and reliable business-to-business transactions on such a wide and large scale.
BitNational will soon officially launch the new expanded operations of the company. The new locations it aims to cover will be officially included in its set of supported cities.
With this deal, we can expect an optimistic growth for Bitcoin’s use in Canada.