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 78EX as planned according to its regulatory address that 2800 Skymark Avenue Suite 200 Mississauga, ON, Canada L4W5A6.

The investigators came to 2800 Skymark Avenue in Mississauga of Ontario, Canada for a visit to the exchanges office on December 14, 2023, and located a modern commercial building near the quiet street without many people.

Upon arrival at the building for further investigation, there wasn‘t security guard in the lobby. After proceeding to the 2nd floor, the survey personnel spotted from the floor directory that many companies were situated in suite 200, but the company name of “78EX” wasn’t presented.

Upon arrival at suite 200, the inquiry team found that the locked office was merged with suite 203, looking like a co-working space without any company name or logo.

Through the on-site investigation, it is confirmed that 78EX doesnt have a presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange 78EX, but didnt find the company at its regulatory address. This signifies that the company might just register at the place 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.