Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world, with the government actively promoting the development of the digital economy, during which cryptocurrencies, as digital assets, play a significant role. Furthermore, Canada is home to multiple well-known cryptocurrency companies. In recent years, the Canadian government has invested substantial resources and money into research and applications of cryptocurrencies and blockchain technology, including decentralized identity authentication, smart contracts, and other areas, indicating that it will continue to play a crucial role in the era of digital economy in the future. As a result, Canada becomes one of the competitive markets for global crypto exchanges. In an attempt to help investors gain a more comprehensive understanding of current exchanges in Canada, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit cryptocurrency exchange ZGYE as planned according to its regulatory address that 49 High Street 3rd Floor Barrie, ON, Canada L4N5J4.

The investigators came to 49 High Street in Barrie situated along the shores of Lake Simcoe in southern Ontario, Canada for a visit to the exchanges office on January 14, 2024, and located a modern commercial building at the relatively quiet street.

Upon arrival at the building for further investigation, the survey personnel didnt spot security guards and reception area in the lobby. However, the directory beside the elevator displayed that the 3rd floor was occupied by “Regus”, a co-working space, without company information in detail.

Upon access to the 3rd floor, the inquiry team discovered the shared office Regus. According to the staff working at the reception area, theyd never heard of company ZGYE nor the information concerning its employees.

Through the on-site investigation, it is confirmed that the company doesnt have a presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange ZGYE, but didnt find the company at its regulatory address. This signifies that the company might just register with the address without a physical business office. Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

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