Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Research
SEC Publishes Accredited Investor Definition Review
Accredited Investors | Dec 19, 2023
Image by freepic.diller on Freepik
The Securities and Exchange Commission (SEC) has just published a comprehensive report reviewing the definition of an 'Accredited Investor'
This development is of great interest to the financial community, including Canadian investors and market participants.
Current Definition
- An Accredited Investor is currently defined as an individual with an annual income over $200,000, or a net worth exceeding $1 million, excluding their primary residence.
- For married couples, the threshold is $300,000. These investors play a crucial role in private securities markets, particularly in Reg D offerings, which represent a significant portion of the financial market.
- The SEC made minor expansions to the definition, including the inclusion of certain professional certifications, like the Series 7. However, the definition remains largely restrictive, limiting the majority of the U.S. population from participating in these investment opportunities.
Potential Changes on the Horizon
- The SEC's report does not conclude with definitive changes but signals an ongoing review for potential updates.
- A notable consideration is the removal of retirement accounts from the net worth calculation for Accredited Investor status. This change could reduce the number of households qualifying as Accredited from 16.44 million to 11.6 million, underlining concerns about investor sophistication in Reg D offerings.
- The report also touches on the sophistication qualification, a topic of debate among investors and legislators. However, the SEC's stance appears dismissive of this route, despite its potential to democratize investment opportunities.
See: House Passes Bills to Broaden ‘Accredited Investor’ Definition
- A significant section of the document is dedicated to the idea of adjusting income and wealth thresholds for inflation, contemplating whether this should be applied retroactively from the time the definition was initially set or implemented from the current period onwards.
- State regulators have expressed concerns that the current definition is too inclusive, failing to account for inflation and including assets that may not reflect an investor's ability to bear investment risks. The North American Securities Administrators Association (NASAA) has recommended excluding assets in defined contribution plans from the net worth calculation and adjusting the thresholds for inflation.
- Marcia Dawood, Chair of The Angel Capital Association (ACA) raised concerns that the proposed indexing would exclude about 50% of angels from participating in the US. Additionally, the ACA noted that, based on their experience, instances of fraud in this sector are minimal to nonexistent.
The SEC's Approach and Public Sentiment
Although the SEC is calling for public feedback, there is skepticism about the influence of public opinion on the final decision. For example, entities like the SEC Small Business Capital Formation Advisory Committee (SBCFAC) have repeatedly urged the Commission to broaden the definition, yet their recommendations have often been disregarded.
See: AOIP Advocates for Enhanced Capital Formation and Investment Opportunities for SMEs
The current SEC leadership appears to favor a more regulated approach, potentially increasing the barriers to participating in private offerings. This stance contrasts with the public's desire for more inclusive investment opportunities.
Outlook
This review, amidst debates over investor sophistication and market inclusivity, reflects a cautious regulatory approach that may heighten barriers to private market participation. Key considerations include the possible exclusion of retirement accounts in net worth assessments and adjustments of income and wealth thresholds for inflation. The outcome of this review will be crucial for investors and market participants, balancing the need for protection with the desire for broader investment opportunities.
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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OSC: 2023 Canadian Crypto Survey Insights
Crypto Survey | Dec 19, 2023
Image: OSC Crypto Asset Survey 2023
Canadian Crypto Ownership Drops 23% YoY According to the OSC's 2023 Crypto Asset Survey Results
This is the second year the OSC has commissioned its annual Crypto Asset Survey of Canadians. Here's the link to last year's survey results back in 2022. The survey aimed to understand engagement with crypto assets, knowledge variations across demographics, sources of information, and changes over the past year by digging into 5 primary research questions.
See: Canadian Regulators Set Expectations for Crypto Asset Investment Funds: A Comprehensive Overview
- How often do people engage with crypto assets, and what are the differences between those who do and those who don't?
- What is the level of knowledge about crypto assets among different age and income groups and how does it differ based on their investment experience?
- What are the common sources of information about crypto assets for different groups of people?
- What kinds of information sources influence people's actions and understanding related to crypto?
- How have people's engagement, knowledge, and sources of information about crypto assets changed compared to last year?
The 2023 crypto survey was administered by ipsos and involved an online survey of 2,360 Canadians, including over-sampling of crypto owners to ensure a minimum sample size of 500. The survey was fielded from May 16 to June 7, 2023, and weighted to reflect the Canadian population composition. Note, that this was before (or just as) crypto markets started their recent run-up.
Overview of 2023 Survey Results
There's a plethora of information in the 73 page PDF survey results presentation deck. Below are select findings to provide a flavour of what one will find by reviewing the full 2023 Canadian Crypto Survey Results.
Engagement and Owner Profile
- Decreased ownership: In 2023, only 10% of Canadians owned crypto assets, down from 13% in 2022.
- Crypto owners are predominantly men, aged 25-44, with high education and income levels.
- The decline in engagement with crypto assets is evident, with fewer Canadians owning them in 2023 compared to 2022. However, those who do own crypto tend to hold a higher market value on average.
Knowledge and Demographics
- Slight increase in knowledge. 54% of Canadians correctly identified the definition of crypto assets in 2023, up from 51% in 2022.
- Higher knowledge among younger Canadians (18-34), men, and those with higher incomes.
- There is a marginal increase in the overall knowledge about crypto assets. Younger Canadians and those with higher incomes show greater understanding. Men and investors, particularly self-directed ones, demonstrate higher knowledge levels.
See: Record 2023 US Crypto Lobbying Expenditure
Sources of Information
- Diverse information sources including family, friends, colleagues (34%), and social media influencers (23%).
- Use of the provincial securities regulator website as a source rose to 10% in 2023 from 7% in 2022.
- Interestingly, nearly 80% of investors (with financial advisors) have not been recommended to purchase crypto assets by their advisors.
- 45% of respondents reported seeing crypto asset advertising, a considerable decline from 65% in 2022.
Changes Over the Past Year
- 20% of Canadians planned to purchase crypto assets in the next 12 months in 2023, down from 31% in 2022.
- Over the past year, there's been a decline in the engagement with and interest in crypto assets. Knowledge about crypto assets has slightly increased, but the sources of information and reasons for purchasing crypto assets remain consistent with the previous year.
The detailed findings from the survey provide insights into the current state of crypto asset engagement, understanding, and the influence of information sources on investor behavior.
Cautionary note to readers: NCFA is constantly looking for more data and analysis, and as such, we support this and other surveys however note when reading the survey results, its important to understand the context in which the surveys was conducted. It's crucial to recognize that the way questions are framed and the data is presented can significantly influence the interpretation of the results. Be on the look out for any bias against crypto, which could have influenced the survey's design and its findings. The survey focuses on direct ownership of crypto assets, but what about indirect ownership (e.g., through ETFs or companies like LQwD) which is also significant? This raises questions about whether the survey fully captures the extent of crypto engagement. The survey doesn't compare crypto with other high-risk investments like gold. Such a comparison could provide a more comprehensive view of how crypto fits into the broader investment landscape. There's a need for a more extensive survey that includes all high-risk investments, which would help in understanding crypto's place in the wider economy. There's concern about the apparent lack of knowledge among investors and the advice being given to purchase crypto, especially to those with a low tolerance for risk. This points to a need for better education and guidance in the crypto investment space. What actions will does the OSC intend to take to address these issues, particularly in educating investors and ensuring they make informed decisions aligned with their risk tolerance. In summary, while the OSC 2023 Canadian Crypto Survey provides valuable insights, it's important for readers to consider the potential biases, the context of the data, and the broader economic and investment landscape when interpreting the results. There's a need for more comprehensive and balanced approaches in studying and reporting on crypto investments. Have a comment or concern? Contact us: info@ncfacanada.org
Download the 73 page PDF --> here
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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Bank-Fintech Partnerships and Trends 2024
Fintech and Banking | Dec 7, 2023
Image by rawpixel.com on Freepik
The Current State of Bank-Fintech Partnerships and Banking Trends and Insights
As we step into 2024, the financial landscape is undergoing a significant transformation, particularly in the realm of bank-fintech partnerships. A recent Forbes article by Ron Shevlin, titled "2024: The Beginning Of The End Of Bank-Fintech Partnerships," provides a thought-provoking perspective on bank-fintech partnerships which the importance has surged in the past few years highlighting that 70% of banks considered these partnerships crucial to their business strategies.
See: Revolut & Softbank Strike Deal to Remove UK License Barrier
These collaborations have been more than just about offering Banking as a Service (BaaS); they've aimed at enhancing lending productivity, growing deposit volumes, and increasing loan volumes. However, the results from these partnerships have been mixed. Only a third of banks have seen a significant increase in loan volume from these collaborations, and even fewer have realized gains in non-interest income.
Challenges and Misconceptions
Shevlin identifies several challenges hindering the success of these partnerships:
- Many banks, especially those with assets under $100 billion, lack dedicated staff for managing fintech partnerships.
- Mismatched organizational structure. The absence of a hybrid model combining centralized teams for IT integration and business line personnel for partnership execution hampers effectiveness.
- Fintech partnerships require specific skills and experience, which are often lacking in traditional bank staff. There is a lack of partnership competency.
Many of these so-called partnerships are, in reality, client-vendor relationships, lacking the shared risks and rewards typical of true partnerships.
See: Federal Reserve Launches Novel Activities Supervision Program Targeting Digital Assets and Non-Bank Partnerships via Banks
Shevlin predicts a decline in bank-fintech partnerships by the end of the decade. He foresees two possible paths for fintechs: either becoming established players in the banking industry or being acquired by larger bank tech firms. This prediction aligns with the trends observed in the bank tech space over the past two decades.
Implications for the Canadian Fintech Ecosystem
For Canadian fintechs and banks, this evolving landscape presents both challenges and opportunities. Banks are advised to:
- Shift from showcasing fintech partnerships as innovation to implementing tangible process improvements and revenue creation strategies.
- Banks should increase their investment in fintech startups and also actively implement their solutions.
- Innovation capacity should become a key factor in choosing fintech partners. Banks should adopt a more data-driven approach in assessing the innovation capacity of tech vendors.
Image by Freepik
2023 Banking Trends and Insights
The "What's Going On In Banking" 2023 report by Cornerstone Advisors offers a comprehensive overview of the current trends and technological advancements in the banking sector. These trends are shaping the future of banking:
- Banks are heavily investing in digital transformation, with a significant focus on adopting emerging technologies like cloud computing, APIs, robotic process automation, and machine learning. This shift is driven by the need to enhance efficiency, improve customer experience, and stay competitive.
- There's a growing emphasis on real-time payments. Many financial institutions are planning to deploy real-time payment systems in 2023, recognizing the need for faster, more efficient payment solutions.
See: Banks and API Ecosystem Strategies
- There's a noticeable shift in lending priorities. While commercial C&I loans and commercial real estate loans are gaining focus, other areas like mortgage/refi loans are seeing reduced priority.
- The banking sector faces significant challenges in staff retention and recruitment, amplified by the trend of remote and hybrid work models. Banks are adopting various strategies to attract and retain talent in a competitive market.
- Upcoming regulatory challenges, especially in areas like debit card interchange fees and routing, are poised to impact banks and credit unions, necessitating strategic adjustments.
- Despite economic challenges like potential recession and rising interest rates, there's a surprising level of optimism among banking executives. This optimism is buoyed by factors such as increasing loan rates and the potential for improved margins.
- Banks perceive Big Tech companies, megabanks, and fintechs as significant competitive threats. However, there's a notable decrease in the perceived threat from challenger banks compared to previous years.
Closing Thoughts
Banks must pivot from a transactional mindset to a more integrated, innovation-driven approach, focusing on mutual growth and value creation. Fintechs, on the other hand, must strive to carve out their niche, either by solidifying their presence in the banking sector or merging with larger entities.
See: A16z’s 2024 Big Ideas for Fintech, AI and Crypto
This period of transition is not just a challenge but a substantial opportunity for reinvention and growth in the banking sector. It calls for a strategic, thoughtful approach to partnerships, where the focus shifts from mere collaboration to achieving tangible, impactful results.
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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EY 2024 Financial Sector Report: Navigating New Norms
Dec 4, 2023
EY's 2024 Strategic Guidance for Financial Firms Focusing on Compliance, Digital Transformation, and Operational Resilience
EY has published it's annual 2024 Global financial services regulatory outlook report highlighting the challenges and unprecedented opportunities for firms ready to adapt and excel in this dynamic environment.
As we approach 2024, markets are increasingly shaped by complex regulations, digital innovation, and a heightened focus on sustainability and consumer protection.
Report Overview
- Stay abreast of prudential developments, resolution, and recovery processes. Given the dynamic market conditions, it's crucial to be well-prepared for regulatory changes and heightened supervisory focus.
- Take a holistic approach to address a range of critical areas including consumer impact, environmental, social, and governance (ESG) factors, digital assets, the digitalization of finance, artificial intelligence (AI) integration, financial crime, and operational resilience. This comprehensive approach is key to staying competitive and compliant.
See: OSC/EY Report: AI in Fintech Use Cases
- Proactively develop a strategy for ongoing engagement with regulatory bodies, especially regarding new prudential developments. Understanding and anticipating regulatory shifts can position your firm for more effective compliance and strategic planning.
- Strengthen your firm’s capabilities in crisis management, ensuring that capital and liquidity standards are met. This will not only comply with regulatory requirements but also build trust with stakeholders.
- As digital transformation accelerates, establish strong governance frameworks to manage risks associated with digitalization and AI. This will maximize the benefits of these technologies while minimizing potential risks.
- Recognize the growing importance of digital assets and develop strategies that account for varying maturity levels and regulatory landscapes across jurisdictions.
- Integrate ESG factors into your business strategy, governance, and risk management. This includes setting clear targets and supporting sustainability disclosures, which are increasingly important to investors and regulators.
- Adapt to regulatory shifts that emphasize consumer protection in product offerings, pricing, and overall impact. This involves understanding the implications of new products and services and exploring alternative marketing channels.
See: PayPal’s Blockchain Vision As New Financial Rail
- Utilize technology to combat financial crime and fraud. It’s vital to have robust systems for monitoring, detection, and compliance.
- Learn from recent bank failures and other financial crises to strengthen your firm’s risk oversight and resilience governance. Operational resilience should be viewed as a strategic imperative, not just a compliance requirement.
- The economic outlook and regulatory environment are both uncertain and complex. Companies and investors need to stay informed about regulatory changes and adapt their business models accordingly. This involves a firm-wide commitment to setting priorities and tailoring business models to focus on people, processes, data, and technology.
EY's 2024 outlook presents a comprehensive roadmap for financial institutions, emphasizing the need for proactive regulatory engagement, digital agility, and robust operational frameworks.
Download the 28 page PDF report --> here
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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Stanford Economist Declares ‘End of the Office Era’
Remote Work | Dec 4, 2023
Image by Freepik
Stanford University economist Nick Bloom declares that the "return to the office is dead," marking a significant shift in the U.S. labor market.
A recent CNBC article highlights the persistence of remote work as a permanent fixture in the post-pandemic world. During the early days of the COVID-19 pandemic, 61.5% of paid workdays were from home. This number decreased through 2022 but stabilized around 28% in 2023, still significantly higher than the pre-pandemic level of 7%.
See: Game-changer for Remote Work? Introducing the AR Laptop by Spacetop
Key Insights
- The percentage of work-from-home days has plateaued in 2023, indicating a new normal in the labor market.
- Remote work offers advantages like no commute, flexible schedules, and cost savings, equating to an 8% pay raise for employees and reduced expenses for employers. So benefits for everyone or a classic win-win?
- About 47% of employees capable of remote work were engaged in a hybrid model as of October 2023, blending in-office and remote work suggesting that hybrid arrangements will likely prevail.
- The strong job market since early 2021 has given employees leverage to seek better work arrangements, reinforcing the remote work trend.
- Long-term trends suggest an increase in remote work beyond 2025, driven by technological improvements and younger, more adaptable business leaders.
Why It's Important
The shift towards remote and hybrid work models is more than a temporary response to the pandemic; it's a fundamental change in how businesses operate and employees work. This evolution has massive implications for everything from corporate real estate and urban planning to employee well-being and productivity.
See: Debunking the Work/Life Balance Myth with Scott Galloway
For companies, embracing this change can mean access to a broader talent pool, reduced overhead costs, and improved employee retention. For workers, it offers unprecedented flexibility and work-life balance. Understanding and adapting to this shift is crucial for businesses and professionals aiming to thrive in the evolving landscape of work.
Has the return to the office chant plateaued?
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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BoC Update on The Digital Canadian Dollar Initiative
Canadian Digital Dollar | Nov 29, 2023
Image by katemangostar on Freepik
Bank of Canada Publishes Stakeholder Feedback on The Canadian Digital Dollar Initiative
Since 2020, the Bank of Canada has actively engaged with Canadians and stakeholders to gather insights on the digital Canadian dollar. This has included diverse discussions with the financial sector, focus groups, civil society groups, and an online public questionnaire. The Bank of Canada's report, "A Digital Canadian Dollar: What we heard 2020–23 and what comes next", provides a feedback lens across several themes.
Key Feedback Themes
- There's a shared interest in accessibility and financial inclusion ensuring that the digital dollar caters to underserved communities, with a focus on making it accessible without stringent identification requirements. This approach aims to bridge gaps in current digital payment offerings and promote universal access.
- Stakeholders emphasized the importance and concerns of privacy, advocating for a digital currency that offers the anonymity of banknotes. The public expressed strong reservations about sharing personal information and the potential overreach of privacy laws.
See: Bank of Canada Publishes Staff Paper on ‘Unmet Payment Needs and CBDCs
- The importance of maintaining access to physical currency was highlighted, with suggestions to mandate merchant acceptance of banknotes to support marginalized communities.
- The need for robust cybersecurity measures was a common concern, with varying levels of confidence in the Bank's ability to provide such security. The idea of a digital dollar functioning without an internet connection was also discussed for practical resilience and inclusivity.
- Financial institutions such as banks and credit unions expressed the need for more detailed information to understand the potential impact on their business models and financial stability. Concerns were raised about the digital dollar replacing bank deposits and accelerating bank runs during crises.
The decision to introduce a digital dollar will ultimately be made by Canadians through their representatives in Parliament, with a focus on balancing privacy, accessibility, and financial stability. The Bank is exploring various models and technologies to support a potential digital dollar, ensuring readiness for the future digital economy.
See: BoC: Redefining Financial Inclusion for CBDCs
Looking Forward
While the path forward involves complex considerations and diverse stakeholder interests, the final decision, however, rests with Canadians and their representatives, ensuring that any future digital currency aligns with the nation's values and needs.
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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OECD 2023: Key Insights on Open Finance Policies
Open Finance Report | Nov 23, 2023
'Open Finance' is at the forefront of financial innovation, promising to redefine how we interact with financial data.
The recent OECD report on "Open Finance Policy Considerations" offers a comprehensive analysis of this paradigm shift, highlighting its potential benefits, inherent risks, and the critical considerations for successful implementation.
What is Open Finance
Open Finance extends the principles of Open Banking with broader access to and sharing of financial data beyond mere payment information. This expansion paves the way for improved financial products and services, fostering an environment of customer empowerment, innovation, and heightened competition. The consumer, now at the center, gains unprecedented control and choice over their financial data, enabling personalized financial solutions tailored to individual needs.
With Great Data Comes Great Responsibility
The OECD report underscores significant concerns regarding security and privacy in Open Finance. A notable percentage of respondents in a European Commission survey expressed apprehensions about the risks associated with granting service providers access to their data. This highlights a crucial aspect of Open Finance – the need for robust consent mechanisms and transparent data sharing practices.
See: 3 examples of what open finance can do right now
The success of Open Finance hinges on user uptake, which in turn is dependent on the trust consumers place in these new frameworks. Aligning with the G20/OECD High-Level Principles on Financial Consumer Protection, Open Finance must ensure adequate consumer protection and trust-building measures. Moreover, achieving interoperability across sectors and geographies is vital for the seamless exchange and utilization of financial data.
Policy Considerations
- Embracing technology neutrality ensures that the same rules apply across the board, irrespective of the technological means.
- The implementation of comprehensive privacy and data protection safeguards is non-negotiable, as these are the bedrock of consumer trust and the overall efficacy of Open Finance systems.
- Clear role definitions, in line with data protection regulations, are essential to maintain clarity and accountability within the ecosystem.
See: Open data for finance as an emerging source of GDP growth
Conclusion
The report emphasizes the need for careful consideration of various factors in implementing Open Finance, including customer trust, data protection, interoperability, and policy frameworks that support innovation while safeguarding consumer interests.
Download the 48 page PDF report --> here
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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