Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world. Local cryptocurrency exchanges have been classified as institutions that provide financial services since the country passed a bill to completely legalize cryptocurrency in June 2020. As a result, Canada becomes the market that global crypto exchanges are competing for. To help investors get a more comprehensive understanding of the local exchanges, WikiBit survey team decided to go to Canada for on-site visits to the local companies.

On-site visit

In this issue, the investigation team went to Toronto, Canada to visit the cryptocurrency exchange wirex (licensee: WIREX CANADA INC) as planned according to its regulatory address that 22 Adelaide Street West, Suite 3400, Toronto, On, Canada, M5H4E3.

The survey personnel arrived at the destination on June 25 in Toronto, the largest city of Canada and the capital of Ontario. 120 ADELAIDE STREET WEST is situated in a commercial area in downtown Toronto, surrounded by busy streets. Meanwhile, the location boasts convenient transportation due to nearby bus stops and railway station.

The investigators came to the building and saw the reception area and security guards in the lobby. People were allowed to enter the building without a reservation. And then the survey team arrived at the 34th floor by elevator. But there was no information about wirex, except an office occupied by a company called “Borden Ladner Gervais”.

Through an on-site investigation, it is confirmed that wirex doesnt have a presence there.

Conclusion

The survey personnel went to Toronto, Canada to visit the cryptocurrency exchange wirex, but didn‘t find the company’s office at its regulatory address. It suggests that the company doesnt have a physical business office there or just registered at the location. Therefore, investors are advised to choose the exchange cautiously.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.