Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: FinTech and Alternative Finance
How Offering Crypto Payments Helps Businesses Win and Retain Global Customers
October 27, 2026
Today's sales teams sell across borders. A firm often closes deals with clients on different continents. Nonetheless, payment friction slowly eats away at revenue. An individual attempts to purchase a service. The credit card is denied by the local bank. The project is delayed due to a slow wire transfer. Certain areas do not support conventional gateways. This friction prevents growth. Payments through cryptocurrency create a powerful alternative route. Another option reduces lost sales. Organizations use it for greater international reach. It also speeds up the gathering of funds.
Payment Friction Is a Sales Problem
Payment processing is usually viewed by business leaders as a finance issue only. A huge blunder took place. Payment friction directly hurts sales conversion. The final checkout screen is reached by the buyer. Their credit card is repulsed by the system due to an unknown reason. The customer leaves without completing the purchase. The revenue of the company eludes.
Chargebacks suck profitability. International buyers often cancel orders when they see unsupported payment methods. An unpleasant checkout process disrupts the customer journey. Every failed transaction is marketing money wasted and selling effort lost.
How Crypto Payments Reduce Lost Deals
Digital assets are free from banking restrictions. A digital wallet allows clients to send funds directly to merchants. There is no middle bank that can refuse a transaction. This link eliminates obstacles not based on choice. It assures more customers complete their purchase.
Serving Customers in More Regions
Conventional financial networks impose rigid geographic limits. A consumer in a developing nation typically does not have premium credit cards. Their domestic means of payment fail on international sites. These borders get erased by crypto payments. A merchant may accept value from any customer that has an internet connection. This ability greatly extends the total addressable market.
Faster Settlement and Fewer Failed Payments
Credit card networks are often controlled by strict approval systems. These systems don’t work for many users. The merchant has to wait days for the cash. Digital ledgers work differently. Settling of transactions takes minutes. The network is always open on weekends and holidays. When a transaction is confirmed by the network, it is final. This permanent nature prevents fraudulent chargebacks. The business’s working capital is immediately available to them.
Where Do Crypto Payments Fit in the Customer Journey
People won’t stop using their credit cards. Digital assets sit next to them. A customer at an internet checkout simply chooses a digital wallet option rather than tapping in a card number. For B2B sales, a finance team includes a digital address in the normal invoice. Contemporary software applications come with recurring models. A company may set up an auto monthly subscription or retainer by smart contracts. It's merely another measure to intercept income.
Using Stablecoins for Predictable Pricing
The price of the early digital coins fluctuated significantly. A sales team can’t throw out a price on a stock that could fall ten percent in an hour. This problem is solved by stablecoins. Tokens such as USDT and USDC are directly pegged to the US dollar. A single token is worth one dollar. It enables businesses to quote predictable prices. The organization gets a steady amount. Daily sales and invoicing will not be a market concern. See: Programmable stablecoin payments
Benefits for Sales and Business Growth
Using digital wallets brings real monetary advantages. A business instantly expands its global reach. Sales teams experience a lower frequency of declined transactions. The treasury department benefits from a speedier cash settlement. International clients have a much easier buying experience. This increases the overall rate of conversion. Nonetheless, digital assets can’t make a deficient product successful for long. They only optimize the generation of revenue.
Risks and Compliance Considerations
New responsibilities always come with innovation. A business must assess the risks before changing its checkout experience.
Volatility, Security, Taxes, and Regulation
Even stablecoins need security attention. A business can lose access to a digital vault, resulting in a permanent loss. Organizations must take fraud prevention more seriously. Compliance also requires hard work. Digital assets are strictly classified by tax agencies. A business is required to keep accurate records of any transactions. In addition, companies should comply with the laws of anti-money laundering (AML) and know your customer (KYC). A qualified legal and tax professional should be consulted by the firm in this regard.
Best Practices for Adding Crypto Payments
A prudent company incorporates new systems gradually. A company should only start with stablecoins to avoid panic. The new option should be clearly visible on the checkout page. The record keeping habit for the accounting department should begin on the first day. Before promoting the new feature to your entire audience, always run a little test transaction.
Choose a Reliable Payment Provider
Most organizations should not manage raw cryptographic keys. They must be careful with evaluations about third-party providers. A business must check the supported currencies. The software must offer instant crypto-to-fiat conversion. The fee structure, integration options, and reporting tools must be verified by executive teams. Security and compliance are 100% mandatory. For example, the finance director of an organization can go to the Cryptobanco official website to see how enterprise-grade infrastructure safely addresses these specific requirements. A dependable partner takes away the technical burden entirely.
Final Thoughts
Accepting digital funds helps businesses please and retain worldwide customers. It is very important to have a very detailed implementation strategy. Before production, corporate chiefs should check real demand. They must become familiar with their operating costs and the local regulation. With proper deployment of this technology by a company, it eliminates financial friction and speeds up global growth.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Zafin to Acquire Naehas in Major US Banking Software Deal
October 27, 2026 | NCFA Market Activity | Competition And Market Structure, Artificial Intelligence And Data, SME Finance And Business Banking
Canadian Fintech Expands Bank Pricing, Customer Offers and Compliance
On October 26, 2026, Toronto banking technology company Zafin signed a definitive agreement to acquire Naehas, a California software provider that helps banks manage customer offers, disclosures and marketing compliance. The purchase would expand Zafin's existing banking product and pricing business, giving it more technology to sell to major financial institutions. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary conditions.
A Zafin spokesperson told BetaKit the company agreed to pay a nine figure sum in US dollars, using cash and equity with partial financing from a credit line. Naehas brings approximately 250 employees and US$30 million to US$50 million in annual revenue, according to the spokesperson. Zafin is making a substantial investment to expand its US banking business, adding established customers and software capabilities rather than building everything internally.
Why Zafin Is Buying Naehas
Zafin helps banks manage financial products, interest rates, account fees, billing and customer pricing without replacing their entire core banking systems. Naehas handles the next area of the business. Its software helps banks prepare customer offers, manage disclosures, secure approvals and deliver communications that meet regulatory requirements.
Consider a bank launching a new savings account promotion. Zafin's technology can manage the interest rate, account terms and customer eligibility. Naehas can help prepare the offer, approve the disclosures and deliver the correct information to customers. Banks often handle these activities across separate departments and systems. Connecting them could shorten the time between deciding on a product and bringing it to market.
Rab Govil, Naehas founder and CEO explained the business opportunity in the acquisition announcement.
"The cost and time required to execute an offer determine how many growth opportunities an institution can pursue."
Naehas has built its business around reducing that work. Banks need to compete on pricing and respond quickly when customer needs change, but they can't ignore disclosure requirements or approval controls. For Zafin, acquiring an established provider is also a way to expand into related banking operations with existing software and customer relationships.
More Banking Revenue From Existing Customers
The acquisition could allow Zafin to sell more services to banks already using its technology. Instead of competing only for product and pricing software budgets, Zafin could pursue spending on customer offers, marketing operations and compliance. Selling additional products to established customers may also be less costly than winning new banks, where purchasing decisions and technology implementations can take considerable time.
Bank customers could benefit from closer coordination between pricing and sales. A business client using deposits, loans and payment services may qualify for better terms based on the overall relationship. Zafin can support that pricing, while Naehas can help deliver the offer and associated documents. Better coordination could help banks win more business from existing customers while reducing the work needed to launch each offer.
See: Fisent Expands Enterprise AI Automation for Banks
For Zafin, the economics depend on how much additional software banks buy and how well the companies combine their operations. A broader product range could strengthen customer relationships and make Zafin harder to replace. Banks may also prefer to work with fewer suppliers, although they'll expect competitive pricing and dependable integration with their existing systems. If the products remain difficult to connect, some of the acquisition's value could be lost.
Zafin is also investing in artificial intelligence. Its AIOS platform is designed to coordinate AI agents and oversee their work, while Zafin IO connects banking systems. Integrating Naehas could eventually extend AI automation into customer offers, disclosures and approval processes.
Nordic Capital Backs Zafin's US Expansion
Nordic Capital's investment in Zafin dates to 2024, when the private equity firm acquired a majority stake to support international growth. Nordic Capital reports that Zafin generated €110 million in revenue in 2025. The planned Naehas acquisition would add an established US banking software business, giving Zafin more products to sell and additional institutional customers to serve.
According to figures provided by Zafin to the media, the combined business is expected to serve 16 of the 20 largest US banks. Zafin is also targeting US$200 million in annualized recurring revenue by the end of 2026. The acquisition gives Zafin more opportunities to sell software to major banking groups, where an existing customer relationship can be valuable in winning additional contracts.
Banks are investing in new technology to compete, but they're taking different approaches. Tangerine's launch of business banking on Starling's core technology shows one approach, building new products on a modern banking platform. Zafin takes another, helping institutions improve pricing and product management around existing core systems. Adding Naehas could give banks more ways to update customer offers without replacing their underlying banking infrastructure.
Talking Point
For Canada's fintech industry, Zafin shows how a domestic enterprise software company can expand internationally through acquisitions and established banking relationships. Can Zafin turn Naehas's customer relationships and technology into enough additional business to justify the purchase and compete for larger banking software contracts?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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New Funding Opportunities for Canadian Women Entrepreneurs
October 27, 2026 | NCFA Industry Resource | SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Capital Markets Infrastructure And Funding
Growth Loans, Regional Financing and Founder Awards
On October 22, 2026, Women's Enterprise Organizations of Canada (WEOC) and the Business Development Bank of Canada (BDC) announced up to C$200,000 in growth loans for eligible women entrepreneurs. WEOC also partnered with Quebec lender Evol to connect more founders with financing and business support. Separately, the Capital Elle Business Impact Award is accepting applications until October 28, 2026, giving Canadian women entrepreneurs three opportunities worth considering.
WEOC and BDC Offer Up to C$200,000 in Growth Loans
The new Women Entrepreneur Growth Financing programme combines WEOC loans of up to C$50,000 with BDC loans of up to C$150,000. Backed by a C$12.5 million financing commitment over two years, the pilot targets eligible women owned businesses outside Quebec that need more capital to expand. BDC is contributing C$10 million toward the programme.
See: Canada Adds WES Funding to Back Women Founder Growth
For businesses ready to buy equipment, invest in technology, increase production or pursue larger contracts, the additional financing could make a meaningful difference. Regional WEOC lending partners will assess applicants and provide business advice and ongoing support. The combined C$200,000 is a maximum, subject to eligibility and lending approval.
Applications haven't opened yet. Financing is expected to begin later in 2026. Interested founders can register for WEOC growth financing updates to receive application details, eligibility requirements and loan terms when available.
WEOC and Evol Connect Women Entrepreneurs With Lenders
WEOC's new partnership with Evol connects lending services across Canada. Evol supports entrepreneurs throughout Quebec's 17 regions, while WEOC works through lending partners elsewhere in Canada. The organizations will refer founders to suitable financing and advisory services, including businesses that may not qualify for an existing programme.
Both organizations participate in the Women Entrepreneurship Loan Fund, which offers eligible businesses loans of up to C$50,000. The partnership isn't a new grant or an extension of the C$200,000 BDC pilot into Quebec. It helps entrepreneurs find lenders and support suited to their location and financing needs.
Capital Elle Award Applications Close October 28
The Capital Elle Business Impact Award offers Canadian women entrepreneurs cash awards and business support across three categories covering strategic connections, growth capital and acquisitions. The organizer advertises a combined prize package worth more than C$100,000, including C$5,000 cash for each category winner, professional services, mentoring and business connections.
The award is open to women founders across industries, subject to eligibility requirements. Applicants select the category that best fits their business goals. The application process costs C$50 for nonmembers (nonrefundable), while eligible paid Elleiance members can apply without an additional fee.
Deadline is October 28, 2026, at 9 p.m. Eastern. Founders should review the official award terms and confirm eligibility.
Takeaway
More financing options are welcome, and founders should match the opportunity to their business. Growth loans can fund expansion, regional lenders can provide ongoing support, and awards offer cash and business connections. The best choice depends on how much money the business needs, what it qualifies for and whether it can take on debt.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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DGSI Seeks Input on Canada’s Unified Ledger Standard
October 26, 2026 | NCFA Industry Resource | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Digital Identity And Trust
Tokenized Assets, Digital Identity and Common Infrastructure
On October 20, 2026, Canada's Digital Governance Standards Institute (DGSI) invited industry participation in a proposed National Standard of Canada for unified ledger infrastructure. CAN/DGSI 145 would cover tokenized identity, financial assets, government records and real world assets on a common programmable platform. DGSI has formed Technical Committee 20 and is looking for organizations and specialists to contribute to the work.
The project moved forward after approval by the Digital Governance Council's Standards Policy Committee on September 22, 2026. For Canadian banks, fintechs, capital markets firms and infrastructure providers, the opportunity is practical. They can contribute before the standard is finalized and before decisions about governance, privacy, security, access and how different systems connect are settled.
What It Does In Practice
The proposed CAN/DGSI 145 standard aims to set minimum requirements for the design, operation and governance of a unified ledger, including how different systems connect and work together. Its scope includes digital identity credentials, tokenized deposits, bonds, securities and central bank digital currencies, along with permits, licences, tax records, property registries, real estate ownership and other tangible assets.
For financial firms, the core issue is how products and records move between organizations. Banks and custodians need clear ways to handle ownership, access, settlement and records. Identity providers need credentials that other organizations can trust. Fintechs building custody, compliance, tokenization or settlement products need to know how their systems may connect with financial institutions and public infrastructure.
See: Canada's Big Six Banks Explore Tokenized Deposits
Common requirements could reduce some of the custom work needed every time two systems connect, although adoption will determine the commercial value. A good standard has limited impact if major institutions don't use it. Wider adoption could give companies building identity, custody, settlement, compliance and software products a clearer base for connecting across institutions and markets.
Ali Abou Daya, CEO of Transactix Financial, described the opportunity as one to “shape international norms and position our well regarded financial and property sectors as global leaders.” For companies considering participation, the more immediate question is whether the areas covered by the standard touch products or infrastructure they are already building.
Who Gets Value
DGSI is inviting banks, fintechs, blockchain developers, digital identity specialists, capital markets firms, regulators and other interested organizations to join Technical Committee 20. Participation is free, there is no limit on committee size and every member gets a vote.
The strongest fit is likely companies already working with tokenized assets, digital identity, settlement, custody, compliance or related infrastructure. They can see the requirements while they are still being developed and bring practical experience from products already in market or under development.
Organizations interested in participating can contact Darryl Kingston, Executive Director, Digital Governance Standards Institute, at darryl.kingston@dgc-cgn.org. Firms with only a distant connection to the work may be better served by following the process and deciding later whether the standard affects their products, partnerships or investment plans.
Strengths And Limits
The main advantage of joining early is practical input. Companies working directly in these markets can point out where the proposed standard may clash with existing systems, new regulations or the way products actually operate. It's more important now that Canada has published proposed stablecoin regulations and other digital asset rules are moving ahead. A useful standard will need to work with that wider regulatory and market infrastructure rather than develop in isolation.
See: Tokenized Funds Move Beyond Issuance To Operations
CAN/DGSI 145 is still early in development. DGSI's work programme lists it at stage 10.99, starting September 22, 2026, with no public review dates or publication date posted. The final requirements may change substantially, and participation does not guarantee that a company's preferred approach will be adopted.
The standard also won't create a market by itself. Its commercial importance will depend on whether banks, governments, infrastructure providers and other organizations decide to use it. Companies should therefore weigh the value of early participation against the staff time required to stay involved.
Key Resources
DGSI Standards Work Programme (current development stage and public review status)
DGSI Standards Development (technical committee participation and standards process)
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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PrimeRevenue Brings Trade Finance Assets to Solana
October 26, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, SME Finance And Business Banking
Corporate Payment Obligations Meet New Sources of Capital
On October 26, 2026, Atlanta based trade finance company PrimeRevenue announced plans to tokenize trade finance assets on Solana, bringing its Electronic Time Drafts (ETDs) to blockchain capital markets. These instruments represent corporate buyers' obligations to pay suppliers on agreed future dates and can be financed to provide suppliers with earlier cash. PrimeRevenue aims to expand beyond its established bank funding network by connecting these obligations with additional institutional and eligible blockchain investors.
PrimeRevenue reports 50,000 companies using its platform, more than 100 funding partners and over US$300 billion in annual payment transactions. That established network gives the company a strong starting point for bringing corporate payment obligations to new investors. Rather than building a financing market from scratch, PrimeRevenue can extend its existing relationships, financial instruments and distribution capabilities into blockchain capital markets.
How PrimeRevenue's Electronic Time Drafts Work
When a corporate buyer owes a supplier money, the supplier may have to wait 30, 60 or 90 days for payment. PrimeRevenue's Electronic Time Draft allows the buyer's payment obligation to be transferred to a financing bank at a discount. The supplier receives cash early, while the bank collects the full amount from the buyer when payment comes due. Financing terms reflect factors including the buyer's credit rating and the remaining payment period.
For example, a supplier owed US$100,000 in 90 days could exchange the draft for an earlier discounted payment. A smaller supplier working with a financially stronger corporate customer may secure more attractive financing than borrowing against its own credit. The buyer retains the agreed payment date, the supplier receives working capital and the bank earns a return for providing the funding and assuming the buyer's payment risk.
ETDs aren't ordinary digital invoices. PrimeRevenue's patented process creates and signs a time draft electronically, supports its transfer to the financing bank and arranges collection at maturity. The company says the structure also removes certain lien search and release requirements that can complicate conventional receivables financing.
Over time, tokenized ETDs could support a continuously replenishing working capital market. Corporate buyers generate new payment obligations, suppliers receive early financing, and investors recover capital as drafts mature. That money could finance the next round of transactions, potentially giving suppliers more flexible access to funding without relying on a single lender. Each draft would still carry its own credit risk, but the financing network could operate more like a revolving pool of capital.
In 2018, PrimeRevenue reported US$1.78 billion in ETD financing, helping nearly 1,000 suppliers across 13 countries get paid early. The program involved 14 banks and more than 100 corporate buyer programs, showing that ETDs were already being used internationally well before the Solana initiative.
Solana Could Expand the Trade Finance Investor Market
PrimeRevenue currently connects corporate payment obligations with established funding institutions. Tokenization could allow other eligible investors to finance or acquire interests in those obligations, depending on how the legal structure is implemented. Solana would provide a shared record of issuance, transfers and settlements, while PrimeRevenue continues supplying the corporate relationships and transaction activity.
PJ Bain PrimeRevenue CEO described the intended expansion in the company's announcement:
"It creates new pathways to unlock working capital and liquidity for our customers and funding partners."
A bank might gain another way to distribute its exposure instead of holding every draft until maturity. New investors could gain access to corporate credit with defined payment dates. Suppliers could benefit if competition among funding providers improves pricing or financing availability. None of these benefits is established until investors commit capital and completed transactions demonstrate the economics.
See: BNY and Citadel's tokenized Treasury financing
PrimeRevenue still needs to clarify what investors would actually own, how they would receive payments and what happens if a corporate buyer fails to pay. Holding a token on Solana doesn't automatically give an investor the legal right to collect the underlying debt. Investors would also need to consider whether they could sell their holdings before payment is due.
The bigger opportunity is bringing more investors into trade finance, not simply processing transactions faster. PrimeRevenue already connects corporate buyers, suppliers and banks. Tokenization could open that network to additional investors, giving suppliers access to more funding options and potentially better rates.
What Tokenized Trade Finance Could Mean for Canada
Unlike Fission's tokenized fund liquidity model, which helps investors access cash from existing fund holdings, PrimeRevenue is bringing corporate payment obligations to new funding markets. Both use tokenization to connect financial assets with capital, but they serve different financing needs.
Canadian businesses face similar working capital pressures. Payments Canada's 2026 research found that 37% of surveyed small and medium businesses consider payment delays a significant problem. Recent Canadian SME financing initiatives are expanding access to smaller loans and more flexible supplier payments. Tokenized ETDs could offer another option, especially for suppliers selling to large, creditworthy corporate customers.
Canadian banks, commercial lenders and financing platforms could eventually use similar models to connect corporate payment obligations with a wider pool of investors. This could give suppliers more financing choices while opening new opportunities for lenders and financial technology providers.
PrimeRevenue describes the Solana initiative as its first step toward decentralized finance (DeFi), connecting traditional trade finance with new blockchain funding markets.
Talking Point
PrimeRevenue already has the corporate customers, financing network and bank relationships to bring trade finance assets to new investors. Solana could help attract more capital and give suppliers better financing options. Can PrimeRevenue turn tokenized trade finance into a larger, more competitive funding market that delivers real value to businesses?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Seven Questions Before Funding a Crypto Account: A New CryptoVantage Due-Diligence Guide for Canada
Oct 26, 2026 | CryptoVantage
Opening a crypto account takes only a few minutes. Deciding whether the platform deserves your money should take a little longer.
CryptoVantage has published a new due-diligence framework to help Canadian investors evaluate cryptocurrency trading platforms before making a deposit. The guide moves beyond rankings and promotional claims by focusing on seven questions that reveal how a platform actually handles customer money, digital assets, fees and support problems.
The framework is designed primarily for first-time buyers, although its questions also apply to experienced investors comparing a new service. It can be used to examine Canadian platforms such as Bitbuy, Newton, Shakepay and Wealthsimple, as well as international companies serving Canadian customers, including Coinbase and Kraken.
No platform is the right choice for everyone. The point is to know what is being offered before sending Canadian dollars or cryptocurrency.
1. Is the platform registered to operate in Canada?
A polished application and a familiar brand name do not tell investors whether a platform is authorized to serve Canadian customers.
Crypto asset trading platforms operating in Canada may be subject to provincial securities requirements. Depending on their activities and regulatory status, they may also need to pursue registration as investment dealers and membership in the Canadian Investment Regulatory Organization.
Canadian investors can consult CIRO’s information about crypto asset trading platforms and the relevant provincial securities regulator. They should search for the company’s legal name, not just the trading name displayed in its app.
That distinction matters. A global company may operate through a separate Canadian entity, while another service may limit particular products in Canada.
Registration provides a level of regulatory oversight, but it should not be mistaken for a promise that an investment cannot lose value. It also does not eliminate cybersecurity, fraud, insolvency or operational risks.
The useful question is not simply, “Is this a regulated exchange?” It is, “Which legal entity holds my account, and what registration does that entity currently have?”
2. Who holds the customer’s crypto?
Buying cryptocurrency and taking personal custody of it are two separate decisions.
When assets remain on a centralized platform, the customer typically depends on that company and its custody arrangements. Some platforms hold part of their customers’ assets directly. Others use specialist custodians or a combination of internal and external storage.
For example, a Canadian investor might buy Bitcoin through Wealthsimple, Coinbase, Kraken, Newton, Shakepay or Bitbuy. The account interface may look straightforward, but the custody structure behind it can be considerably more complex.
Investors should look for clear answers to several basic questions. Are customer assets segregated from corporate assets? What proportion is stored offline? Does the platform identify outside custodians? Who controls the keys required to move funds? What happens if a custody provider fails?
Insurance also needs context. A statement that assets are “insured” does not necessarily mean every loss is covered. A policy may apply only to certain storage systems, specific criminal events or losses caused by the custodian. It may exclude phishing, customer mistakes, compromised passwords or losses above a coverage limit.
Custody is becoming a larger part of Canada’s digital-finance infrastructure. NCFA has previously examined how crypto custody regulation is changing, including the growing importance of segregation controls, operational resilience and oversight evidence.
3. Can the crypto be withdrawn to a personal wallet?
A platform may allow customers to buy and sell cryptocurrency without supporting withdrawals to an external address. That arrangement can suit someone interested only in price exposure, but it is different from purchasing an asset that can be moved into self-custody.
Before depositing money, investors should confirm whether the platform supports external transfers for the exact asset they intend to buy.
Support can vary by coin and network. A service might allow Bitcoin withdrawals but restrict a newer token. It might support USDC on Ethereum while not supporting the same stablecoin on Solana or another network. Sending assets through an incompatible network can lead to a difficult or unsuccessful recovery process.
Withdrawal rules deserve attention too. Platforms may impose minimum amounts, network charges, daily limits or temporary security holds. A newly added bank account, password reset or device change can trigger an additional delay.
These controls are not automatically a bad sign. A short security hold may stop an unauthorized withdrawal. The concern is whether the platform explains its policy before the customer needs to move funds.
CryptoVantage recommends treating a small test withdrawal as part of the onboarding process. It can reveal whether the address format, selected network, confirmation steps and expected fees are understood before a larger amount is at risk.
4. How are Canadian-dollar deposits handled?
For Canadian users, the quality of the fiat on-ramp can be as important as the trading interface.
Platforms including Newton, Shakepay and Bitbuy have built their Canadian services around familiar funding options such as Interac e-Transfer. Coinbase and Kraken also serve Canadian customers, but available deposit methods, processing times and limits may differ.
Investors should check whether deposits are made directly to the platform or processed by another company. They should also review minimum and maximum amounts, expected processing times and the name that will appear on their bank statement.
A bank may pause or reject a transaction even when the crypto platform accepts that funding method. This can happen because of fraud controls, account limits or the bank’s internal policies.
Credit and debit cards introduce another layer of cost. A platform may charge a card-processing fee, while the card issuer could classify the purchase differently from an ordinary retail transaction.
The practical test is simple: calculate how many dollars arrive in the trading account after every visible charge. A “free deposit” is useful, but it says nothing about the spread applied when those dollars are exchanged for crypto.
5. Where are the trading costs disclosed?
The word “commission-free” can be technically accurate while still leaving the customer with a meaningful cost.
Some platforms charge a clearly stated transaction fee. Others earn revenue through the spread between the displayed buying and selling prices. Advanced trading interfaces may use maker-and-taker schedules, while instant-purchase features can have a different price structure.
For a fair comparison, an investor can record three numbers at the same moment:
- The broader market price of the asset
- The price quoted by the platform for a purchase
- The amount that could be sold back immediately
The difference provides a more practical picture than an advertised commission rate alone.
The company’s Canadian crypto exchange guide compares services including Coinbase, Bitbuy, Kraken and Shakepay while examining factors such as fees, deposits, withdrawals, security and transaction speed.
Costs can also appear after the trade. A user may encounter a crypto withdrawal charge, blockchain network fee, staking commission or currency-conversion cost. Comparing the complete transaction journey is more useful than comparing one headline percentage.
6. What happens when an account is restricted?
Most customers judge a platform when everything is working. Due diligence should also consider what happens when it is not.
An account may be restricted because of an identity-verification issue, a suspicious login, a disputed bank transfer, a compliance review or activity that triggers the platform’s monitoring systems. Even legitimate customers can be asked for additional documents.
Before funding an account, investors should locate the support options. Is live chat available? Can a customer reach a human agent? Is there a formal complaint process? Does the company publish estimated response times? Which organization can review an unresolved complaint?
Social media is not a safe substitute for official support. Fraudsters routinely impersonate exchanges and respond to public complaints with offers of private assistance. A genuine support representative should not need a wallet recovery phrase or private key.
It is also sensible to keep independent records. Customers should retain deposit confirmations, trade histories, withdrawal identifiers and relevant correspondence. Accessing those records may become harder after an account is closed or restricted.
7. Will the platform provide usable transaction records?
Crypto recordkeeping should begin with the first purchase, not several months later when a tax return or portfolio review makes the information necessary.
A useful platform should allow customers to export deposits, withdrawals, purchases, sales, trades, staking rewards and applicable fees. Ideally, the records should be available in a common format that can be reviewed in a spreadsheet or imported into compatible accounting software.
Investors should not assume that a simple annual gain-and-loss figure will capture every relevant activity. Moving assets between personal wallets is different from disposing of them, but the transaction still needs to be documented so the movement can be traced.
Records are also valuable when investigating a delayed withdrawal or reconciling a wallet balance. A blockchain transaction identifier can show whether a transfer was broadcast, while the platform’s internal history can document when the request was submitted.
If export tools are difficult to find before an account is funded, they may not become easier to use later.
Due diligence is not a one-time exercise
A platform can change its fees, supported assets, banking relationships, custody providers or Canadian availability. Regulatory status may also evolve.
Investors should repeat the seven-question review when opening a new account and periodically revisit it for platforms they already use. A service that suited a small first purchase may not be the right place for a larger balance, frequent trading or long-term custody.
See: Canadian Crypto Ownership Hits 25% in OSC Survey
The framework does not attempt to identify a universally safest exchange. Instead, it helps users separate several ideas that are often blended together: regulatory registration, custody, cybersecurity, insurance, liquidity and personal account security.
That is the larger purpose of the new guide. Choosing a crypto platform should not begin with a promotional bonus or a list of supported tokens. It should begin with understanding which company is receiving the money, what it will do with the assets and how the customer can leave if circumstances change.
About the Author
CryptoVantage is a cryptocurrency publication providing educational guides, news, analysis, and reviews covering Bitcoin, blockchain, exchanges, wallets, fintech, and digital assets. Its team of writers, researchers, and cryptocurrency specialists creates accessible content for both newcomers and experienced crypto users, helping readers better understand the rapidly evolving digital-asset industry.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Canada Proposes Stablecoin Market Entry Rules
October 26, 2026 | NCFA Regulatory Insight | Regulation And Policy, Digital Assets Blockchain And Tokenization, Payments And Money Movement
A Higher Bar for Issuers and More Room Around Them
On October 24, 2026, the Canadian government published proposed Stablecoin Regulations that put operating rules behind Canada's federal stablecoin framework. Issuers would face Bank of Canada registration and supervision, one to one reserves, Canadian custody requirements and redemption obligations. Stablecoin payment activity would also enter the Retail Payment Activities Act framework. Consultation closes December 23, 2026 at 11:59 p.m. Eastern.
NCFA's Stablecoin Regulatory Intelligence provides the definitive guide to the framework and implementation path. The operating rules now make a strategic choice much easier to see. A company can take on the capital, custody and supervision required to issue a stablecoin, or build payments, wallets, compliance and infrastructure around regulated coins instead.
What It Takes to Issue a Stablecoin in Canada
Covered issuers would need reserves equal to the value of their stablecoins at the end of each trading day. Those reserves must be held with a qualified custodian incorporated in Canada. Issuers would also need to redeem at par, generally start payment within three business days and maintain the systems needed to manage security, risk and recovery.
That brings banking, custody and operating capacity into the business much earlier. A company can build the technology first, but it can't operate at scale without institutions willing to hold its reserves, systems that can process redemptions and enough capital to keep the business running while those relationships are put in place.
Registration can also affect launch timing. A national security review can delay entry and ultimately prevent an issuer from operating in Canada. Founders and investors therefore have to plan for more uncertainty before launch. Canada is already opening more of its financial infrastructure to regulated non bank participants, but stablecoin issuers will still have to meet a much higher operating bar.
The government's regulatory analysis estimates C$88,521 in annualized incremental compliance and administrative costs across five assumed issuers, or about C$17,704 each. That isn't a realistic estimate of what it costs to launch a stablecoin issuer. It covers selected regulatory tasks, not the broader cost of reserves, Canadian custody, technology, legal work, liquidity, security, staffing and distribution.
See: TD, Scotiabank Join Global USD Stablecoin Venture
An issuer averaging less than C$500 million outstanding would also pay a C$25,000 annual Bank of Canada base assessment. That rises to C$350,000 from C$500 million to less than C$1 billion and C$750,000 at C$1 billion or more. Larger issuers also share variable supervisory costs, and the Bank expects to recover about C$2.5 million a year from the issuer market.
The assessment is only one piece of the business model. An issuer still has to spread custody, compliance, technology and redemption costs across enough customers and transaction volume to make the business worthwhile. Canada isn't shutting out smaller issuers, but the economics favour companies that can reach scale or arrive with customers, distribution or strong financial institution partners.
A fintech that truly needs its own stablecoin may decide the investment is worth it. Another company may reach customers faster by using an existing regulated stablecoin and putting its capital into payments, software, distribution or customer acquisition. Issuing the coin is becoming one way to compete in the market, not the only way to enter it.
Foreign Stablecoin Access Will Decide What Canadian Firms Can Offer
Canadian PSPs and wallets will want access to stablecoins their customers already use, especially large U.S. dollar products. The proposed rules can recognize stablecoins issued by financial institutions operating under Canadian, provincial or foreign laws when those regimes provide similar protections for reserves, redemption, custody and yield.
A clear recognition process would give Canadian companies more stablecoins, liquidity and payment networks to build with. A slow or uncertain process would leave them with fewer options and could make integrations more expensive. Foreign issuer access therefore affects Canadian fintechs even when they have no plans to issue a stablecoin themselves.
The U.S. OCC finalized its GENIUS Act issuer rules on October 21, 2026, and they take effect January 18, 2027. Canada is still at the proposed regulation stage and currently plans to bring its framework into force in fall 2027. The OCC still has to open its application process, but U.S. firms now know the final federal rules while Canadian firms still have time to influence theirs.
NCFA's analysis of who can issue stablecoins under the new U.S. rules shows the same split emerging south of the border. Issuers carry the reserve, redemption and supervision burden. Payments and infrastructure companies can build around regulated stablecoins without taking on the full cost and responsibility of issuing them.
Canada doesn't need dozens of domestic issuers to build a competitive stablecoin market. It needs credible stablecoins that Canadian banks, PSPs, wallets and infrastructure companies can connect to without unnecessary cost or delay. The December 23 consultation gives market participants a chance to improve custody rules, proportional supervision, registration and access to credible foreign stablecoins before the framework is finalized.
Payments and Custody May Be the Bigger Opportunity
Canada's custody rules give domestic financial institutions a role even when the stablecoin issuer is based elsewhere. Reserve assets must be held with a qualified custodian incorporated or formed in Canada and protected from claims against the issuer or custodian. A global issuer that wants to operate here may therefore need a Canadian bank or custodian as part of its setup.
That creates business in custody, reserve management and banking services without requiring the financial institution to compete for stablecoin users. Financial institutions also follow a different path under the Stablecoin Act because the issuer regime doesn't apply to stablecoins they issue. Canada could therefore support several ways to participate in the market rather than forcing every company through the same regulatory model.
Payments offer a much larger entry point. Finance Canada estimates that about 30 additional PSPs, including some crypto platforms, wallets and payment processors, would newly enter the Retail Payment Activities Act framework. More than 2,000 PSPs were already covered as of July 2026. The government doesn't expect those existing firms to face additional RPAA compliance costs when they add prescribed stablecoin payment functions because similar requirements already apply to their fiat payment activity.
More than 2,000 regulated PSPs could potentially add stablecoin functionality without becoming stablecoin issuers. Payment companies can build merchant acceptance or international transfers. Wallets can add payment and settlement features. Banks and custodians can manage reserve assets. Compliance firms can provide screening, monitoring and reporting tools.
Those companies compete for transactions, distribution and customer relationships rather than for the economics of issuing the money itself. NCFA has already tracked this move toward stablecoins as payment infrastructure. The proposed rules make it easier to see where Canadian firms can enter the market.
The commercial market around stablecoins could become much larger than the issuer market. A small number of regulated coins can support many PSPs, wallets, custodians, banks, compliance providers and software companies. For founders, that creates more ways to participate without tying up capital in reserves or running a redemption system.
Foreign Stablecoins Could Expand Canadian Product Choice
Canadian PSPs and wallets will want access to stablecoins their customers already use, especially large U.S. dollar products. The proposed rules can recognize stablecoins issued under Canadian, provincial or foreign laws when those regimes provide similar protections for reserves, redemption, custody and yield.
Clear recognition would give Canadian companies more stablecoins, liquidity and networks to build with. A slow or uncertain process would leave them with fewer choices and could raise integration costs. Foreign issuer access therefore affects Canadian fintechs even when they have no plans to issue a stablecoin themselves.
The U.S. OCC finalized its GENIUS Act issuer rules on October 21, 2026, with an effective date of January 18, 2027. Canada is still consulting on proposed regulations and currently plans to bring its framework into force in fall 2027. The OCC still has to open its application process, but U.S. firms now know the final federal issuer rules while Canadian firms can still influence Canada's operating details.
See: VersaBank Becomes Banking Partner for QCAD Stablecoin
The same commercial split is emerging in the U.S. Issuers carry the reserve, redemption and supervisory obligations. Payments and infrastructure companies can build products around regulated stablecoins without taking on the issuer's full operating burden.
Canada doesn't need dozens of domestic issuers to build a competitive stablecoin market. It needs credible stablecoins that Canadian banks, PSPs, wallets and infrastructure companies can connect to without unnecessary cost or delay. The December 23 consultation gives market participants a chance to improve custody rules, proportional supervision, registration and access to credible foreign stablecoins before the framework is finalized.
Talking Point
Canada may not need a large number of domestic stablecoin issuers to build a strong market. The bigger opportunity is to make regulated stablecoins easy for Canadian banks, PSPs, wallets and infrastructure companies to use. If those firms can connect to credible issuers without unnecessary cost or delay, stablecoins can become another financial rail for payments, settlement and treasury services. The strategic advantage then comes from the businesses built on top of that infrastructure, not from maximizing the number of companies issuing the underlying coins.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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