Canada’s McLeod Law firm among the first to accept cryptocurrency for legal payment
McLeod Law, a reputed law firm in Canada becomes first in the league to embrace cryptocurrency as a payment mode for a legal fee. On Monday, the law firm, led by its Fintech unit, announced that this new option will be available for only a few clients who are comfortable with cryptocurrency serving as an alternative medium of payment.
The Fintech arm of McLeod started its operations in 2013 when the crypto industry was still in its nascent stage. In a short span of five years, the fintech group has grown in stature and successfully been involved in various deals and development projects including its role in 2017 as the Canadian counsel for supply chain management ICO based in Toronto.
In the same year, it also acted as the Canadian counsel to one of the first digital trading platforms of Canada registered with the FINTRAC and tied up with a leading financial institution in Canada. McLeod Law has reached out to its customers by posting on its Twitter handle:
“We are one of the first law firms in Canada to accept payments in cryptocurrency, led by Matthew Burgoyne of our Fintech group.”
We are one of the first law firms in Canada to accept payments in cryptocurrency, led by Matthew Burgoyne of our Fintech group ~ check it out here: https://t.co/qraDMVK2at @Coinsquare #cryptocurrency @BurgoyneMatt pic.twitter.com/uvj8tkDEzy
— McLeod Law LLP (@McLeodLawLLP) September 25, 2018
Role of the Fintech Unit
The unit takes action on behalf of the clients in the domain of cryptocurrency and blockchain technology. It also serves as an advisory body for the clients when they are involved in the creation of bitcoin mining farm, development of bitcoin or other crypto-based product.
It also includes setting up of a crypto investment fund or even launching a digital asset trading platform with the Canadian customers. It is also involved in raising funds through Initial Coin Offering or Initial Token Offering.
For this purpose, McLeod Law LLP leveraged Coinsquare, a premier trading platform of the country supporting prominent digital assets such as Bitcoin [BTC], Ethereum [ETH], Ripple’s XRP and others. “The Coinsquare platform allows us to securely accept Bitcoin, Bitcoin Cash, Ether and other digital currencies,” mentioned the legal firm.
Image via Shutterstock
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