Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Voices
Applications Now Open For 2026 CIX Startup Awards!
CIX | Nov 6, 2025
Image courtesy of CIX
Canada’s Top Startup Awards 2026 CIX Accepting Applications Until November 30
Applications have officially opened for the 2026 CIX Startup Awards, one of Canada’s most respected platforms for emerging and growth-stage companies. Run by the Canadian Innovation Exchange (CIX), the program celebrates leading tech startups that that create commercial or social value. A panel of more than 100 North American investors selects the winners, giving founders direct access to some of the most influential decision-makers in the industry.
See: Canada: Budget 2021’s Impact On The Canadian Financial Sector
Recognition through CIX can change everything for a young company. 78% of past winners that were raising capital secured funding within six months, and 86% within a year. On top of that, award recipients reported gaining roughly 35% more customers and partnerships globally after being featured. Those are the kinds of outcomes that make CIX a launchpad rather than just another award.
Who Can Apply
CIX is open to startups that are incorporated and headquartered in Canada. Companies must be privately held and not listed on any exchange. To be eligible, startups should have a strong technology foundation and a functional prototype or product already in the market. The company’s founder or CEO must also be available to present in person at the summit.
- Be a Startup incorporated and headquartered in Canada
- Be privately held and not listed on any exchanges anywhere in the world
- Have a unique/disruptive/innovative idea that leverages technology to create commercial or social value
See: 12 Market Entry Approaches for Fintech Startups
- Have a functional prototype (at minimum) of the product, service or application (must be in market, can be pre-revenue)
- The company CEO or Founder must be available to present live at CIX, in-person, March 25, 2026 in downtown Toronto
Timeline for 2026
- Applications Open November 3, 2025
- Applications Close November 30, 2025
- Winners Notified January 2026
- Press Announcement By end of January 2026
What Winners Receive
Each winning startup is invited to present live at CIX Summit 2026 in downtown Toronto on March 25, 2026. The experience includes exclusive one-on-one investor meetings, three complimentary passes to the summit, and a dedicated meeting table to connect with potential partners and clients. Winners are permanently listed on the CIX website and often featured in national media, expanding their credibility and visibility far beyond the event itself.
Apply Before November 30
CIX has earned its reputation as a gateway to investors and growth. While it's great to be recognized, it's about visibility, validation, and opportunity. For many founders, presenting at CIX is the moment when their startup story reaches the right audience. With no cost to apply and a process that takes about twenty minutes, the upside is significant. If you’re building something innovative and ready to take the next step, this is your chance to get noticed.
👉 Apply now through the official CIX website
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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Why Marketing Leaders Must Put Impact First: Insights From Nathalie Kyriakou
Nov 5, 2025
Image: Unsplash/Markus Winkler
Being a leader is seldom about being the loudest voice in a room. More often, it’s about the impact you create. True leadership isn’t measured by notoriety, but the difference your work makes in people’s lives and communities.
These lessons are frequently ignored in an industry often incentivized by measures and accolades. But for marketing and communications specialist, Nathalie Kyriakou, marketing at its best is about serving people, not egos.
A Career Marked by Purpose
Nathalie has over 20 years of industry experience and a reputation for leading with empathy and clarity. She has worked in many fields, including technology, finance, and consumer goods, consistently helping people understand and utilize complex concepts.
Whether transforming a brand or helping teams discover their shared purpose, Nathalie approaches leadership as a service. Consequently, she has often been effective at launching initiatives that enrich people’s lives.
The Power of Meaningful Influence
Contemporary marketing often rewards visibility. But in truth, changes that occur without fanfare tend to be the most enduring. Leaders who focus on impact rather than attention tend to create stronger, more robust organizations. That’s because they generally care about the organization as a whole instead of personal accolades.
Nathalie’s own philosophy mirrors this principle. For her, leadership is about hearing, evolving, and truly understanding what people need. This mindset encourages her teams to rally around missions that counted for others, as opposed to missions geared toward meeting metrics.
Purpose-Driven Innovation at Nolos
As the Vice President of Marketing and Communications at Nolos, Nathalie follows that same mentality. A Montreal-based LegalTech and Fintech company, Nolos is dedicated to making legal and financial services easier to access and easier to understand.
See: 12 Market Entry Approaches for Fintech Startups
Under Nathalie’s leadership, marketing campaigns become more than brand building—they also empower families. Whether through financial videos that help people make better financial decisions or marketing campaigns that create clarity in legal processes, Nolos is committed to serving the greater good.
The alignment between message and mission is when marketing leadership is most meaningful. By intentionally focusing on people, Nathalie builds audiences while strengthening trust. Instead of focusing on metrics, she measures her work by its contribution to helping others feel more secure about their future.
Leading Beyond the Workplace
True impact isn’t limited to professional settings. Apart from her work at Nolos, Nathalie dedicates time to community work in education, family support, and access to services. By imbuing her corporate and personal lives with empathy for the family’s purpose, she practices a brand of leadership that creates opportunities for others.
A New Model for Marketing Leadership
In an industry traditionally framed around influence and persuasion, Nathalie Kyriakou is an example of how marketing can be a form of service to others. By imbuing strategy with empathy and accountability, she creates a framework for sustaining impact beyond mere impressions and entertainment.
Nathalie reminds us that leaders who prioritize impact tend to create work that lasts. By focusing on a common purpose, marketing leaders can develop campaigns that engage, messages that empower, and teams that thrive.
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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Visa Extends Stablecoin Settlement to Four Blockchains
Stablecoins | Nov 4, 2025
Visa Adds Multi-chain Stablecoin Support Across Four Blockchains and 25 Fiat Currencies
On October 28, 2025, Visa CEO Ryan McInerney told investors in a Visa Q4 earnings call (22 page PDF) that the company is adding support for four stablecoins operating on four distinct blockchains across two currencies, with conversion to more than 25 fiat currencies. He said Visa’s stablecoin-linked card spend has quadrupled over the past year, with monthly settlement volumes reaching an annualized $2.5 billion. So now we can all expect to have access to embedded digital currency settlement directly into its global treasury and FX systems.
See: Stablecoin Payments Have Wings – Are You Ready?
Visa’s public Onchain Analytics Dashboard reports more than US $9.6 trillion in adjusted transaction volume, over 10 billion transactions, and an average stablecoin supply above US $221 billion across Ethereum, Solana, Polygon, and Avalanche. The numbers confirm that fiat-backed stablecoins are already a growing part of daily global payments.
Based on Visa’s earlier pilot programs using USDC on Ethereum and Solana, it is reasonable to expect these networks to be among the four blockchains involved, though earnings call transcript doesn't name specific stablecoins or chains.
From Pilot to Platform
Visa’s expansion is a transition from testing digital currency settlement to making it part of its core infrastructure. The company is linking stablecoins to its global treasury and FX networks, allowing conversion between digital assets and traditional currencies without adding new intermediaries. So stablecoins will become programmable tools for cross-border settlement and liquidity management.
See: Amazon and Walmart Exploring Merchant-Led Stablecoins
Ryan McInerney, Visa CEO:
“We are adding support for four stablecoins, running on four unique blockchains, representing two currencies, that we can accept and convert to over 25 traditional fiat currencies. Our digital currency work builds on our core competencies — connecting buyers and sellers, securing payments, and enabling interoperability across currencies and networks.”
Fintechs and financial institutions should take notice because Visa is not just planning to accept stablecoins as a form of payment, it's building a bridge between regulated banking infrastructure and onchain finance. Visa’s integration also provides a compliance template that shows how large-scale financial networks can handle digital assets safely within existing frameworks.
Cross-border Growth and Enterprise Adoption
Visa’s financial results strengthen the case why stablecoin settlement is strategically important. According to Visa’s investor materials, cross-border payment volume grew 10% year over year in Q4 2025, driven by travel and international eCommerce. Total revenue reached US $9.2 billion, up 9%, with payment volume increasing 8% on a constant-dollar basis.
Stablecoins fit naturally into this picture. They can move value instantly across borders, reducing settlement friction and costs for businesses that operate in multiple currencies. For enterprises, corporates, and fintechs, Visa’s model offers a regulated approach to use stablecoins for treasury, payroll, and remittances at scale.
See: Ripple Acquires Rail for $200M to Boost Stablecoin Payments
Visa’s partnerships with digital wallets, neobanks, and blockchain platforms extend its reach into Web3 commerce while maintaining the dispute resolution and identity safeguards that make card networks trusted globally.
McInerney emphasized continued collaboration with policymakers and central banks to ensure that new payment models meet regulatory expectations while delivering tangible economic benefits.
Outlook
For Canada, Visa's approach of blending real world payments with programmable finance is a framework offering lessons on how to connect open banking, digital money regulation, and cross-border innovation at scale and under clear governance.
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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CSI Community Bond Nears $6M to Strengthen Ownership
Social Finance | Nov 3, 2025
Image: Freepik
Citizen Investors Back CSI’s Community Bond to Strengthen Its Community-owned Infrastructure and Mission
The Centre for Social Innovation (CSI) confirmed in its August 2025 update that its 2025 Community Bond campaign, targeting $6 million in total investment, was nearly full following strong participation since launch in May. The funds are being raised to transition CSI to 100% community financing, retire remaining bank debt, and strengthen ownership of its 192 Spadina Avenue property, ensuring long-term stability for its social innovation mission.
See: Gander Social Nears $1.5M as Canadians Invest in Canada
CSI’s 2025 Community Bond offering includes three verified bond options as listed on its official campaign page: Series L (4.25% annual simple interest, 3-year term), Series M (5% annual compound interest, 5-year term), and Series N (6% annual compound interest, 5-year term).
Minimum investments range from $1,000 to $25,000. According to CSI’s 2025 Offering Statement, the bonds are secured by registered charges on CSI’s Toronto properties, and the organization states it has “never missed an interest payment” since the first issuance.
Financing Inclusion and Innovation
Community bonds occupy a growing space in Canada’s impact-finance ecosystem. They allow individuals and institutions to earn predictable returns while funding community-owned infrastructure and social enterprises.
For Canada’s fintech and alternative finance community, CSI’s community bond initiative dates back years and provides a verified model of how mission-aligned investors can contribute to measurable social and economic outcomes. It also complements national efforts to broaden retail investor participation through investment crowdfunding and exempt-market modernization.
See: Fintech Fridays EP63: From Angel Investor to Change-Maker: Investing with Impact
Closing Thought
It demonstrates that capital formation and public benefit can work together when accountability, collateral, and investor confidence are clearly defined. As policymakers explore pathways to inclusive capital access, the community-bond structure is a practical example of responsible innovation in finance. Those interested in learning more about the model and its broader impact can visit socialinnovation.ca.
This article is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any security. Readers should consult the official issuer documents for full details.
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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Wealthsimple Drops Options Fees and Launches Real Gold
Fintech Event | Oct 23, 2025
Image; Wealthsimple For Nerds 2025, Michael Katchen
Wealthsimple’s 2025 Event Introduces Zero Fee Options, Real Gold, and Private Market Investing
On October 22, 2025, Wealthsimple held its For Nerds Only showcase in Toronto, launching a bevy of new products and milestones that highlight the major changes happening in Canada's retail investing market.
Over 220,000 Canadians registered for the livestream which is double the audience size at WS's event held last June. The company splashed some big news in that it officially surpassed $100 billion in assets under administration, reaching the milestone 3 years ahead of its original 2028 target!
See: Fintechs Urge Ottawa to Modernize Account Transfers
Alongside the product updates, Wealthsimple shared results from a June 2025 survey of clients aged 25 to 45 with more than $50,000 in assets that confirm there's demand for digital control when paired with trusted guidance:
- 92% reported confidence managing their own investments
- 69% identified as above-average risk takers
- 67% preferred to manage their own portfolios
- 79% viewed traditional financial institutions as slow to innovate
What Was Announced?
1. Zero fee options and lower trading costs
Wealthsimple introduced what it calls Canada’s first zero commission options platform with no per-contract fees. By eliminating traditional contract costs that major bank brokerages still charge, the firm aims to make options more accessible to retail investors with zero fee options rolling out to all clients in phases in 2026. Users should monitor fee transparency and execution quality as adoption scales.
See: Quebec Decision Challenges Canada’s Crypto Rules
WS’s zero fee options will disrupt the pricing structures of Canada’s largest bank brokerages, such as RBC Direct Investing, TD Direct Investing, BMO InvestorLine, and Scotia iTRADE who all still charge between $1.25 and $2.50 per contract, a model that has long supported their retail trading revenue. By removing per contract costs entirely, WS sets a new benchmark that will pressure banks to justify higher fees or cut them to stay competitive.
As more and more investors move to lower cost platforms, traditional banks risk losing up/cross selling opportunities in savings, credit, and advisory products. For younger retail investors and clients who value cost transparency and mobile-first design, zero fee options trading is the way to go.
2. Real gold trading with physical redemption
Wealthsimple also launched real gold trading (See: support guide) directly in client accounts, making it available around the clock and backed by the Royal Canadian Mint. Investors can buy fractional amounts starting at one dollar and will be able to redeem for physical one ounce and tenth ounce coins beginning in November 2025.
The new feature combines online convenience with real ownership of gold, appealing to people who want something tangible instead of investing in gold ETFs. If trading costs stay low, it could change how Canadians buy and hold gold in their accounts.
3. Managed portfolios and Summit expansion
Wealthsimple introduced a Mutual Fund Exchange to help investors transition from high-fee mutual funds to lower-cost managed portfolios, covering transfer fees and offering personalized guidance.
The firm also previewed its flagship Summit portfolio, a new managed offering that blends public equities with private equity, private credit, infrastructure, and gold exposure.
See: Wealthsimple Aims at Banks With New Credit and Loan Tools
According to the newsroom release:
Investors switching from high-fee mutual funds to the Summit portfolio could retire up to 47% richer due to fee savings alone.
4. Direct indexing and tax automation
Wealthsimple confirmed that direct indexing portfolios are now available, offering the same tax saving tools used by large institutions. The service automates daily tax loss harvesting across individual stocks and charges a 0.15% management fee, as shown on the direct indexing page.
It lets investors mirror an index while owning each company directly, which can improve after-tax results and give more control over what they hold. The system automatically sells losing stocks to offset gains and reinvests the money to keep market exposure.
5. New AI tools and upcoming features
Wealthsimple previewed upcoming AI powered research and trading tools that will generate market summaries, identify trends, and deliver event alerts. Also scheduled for release are secured puts, multi-leg option strategies, and a built-in Norbert’s Gambit function for more efficient currency conversion.
See: BoC’s Carolyn Rogers Calls Banks an Oligopoly
These new tools showcase how automation and personalized data analysis are converging on the platform.
6. Expanding advice and scale
Wealthsimple introduced a new full service wealth management tier that combines digital access with human advice via text and proactive tax and contribution planning. Management fees start at 0.5% for higher balances.
In Closing
The 2025 event reinforced Wealthsimple’s ambition to democratize sophisticated investing while lowering costs for Canadians. From zero fee options and physical gold to direct indexing and hybrid advice, the company’s strategy blends accessibility with innovation. As its AI tools and private market portfolios scale through 2026, the balance between automation, transparency, and client empowerment will remain key measures of success.
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 aa 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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Jon Medved Steps Down as OurCrowd CEO After ALS Diagnosis
OurCrowd | Oct 22, 2025
Image: Inaugural Canadian Crowdfinance Summit 2015, NCFA Craig Asano with Jon Medved CEO OurCrowd
CEO Jon Medved Transitions to Chairman of OurCrowd Following ALS Diagnosis
On October 21 2025, as reported by several news outlets, OurCrowd announced on Tuesday that Founding CEO Jon Medved will move into the role of Chairman after being diagnosed with ALS, also known as Lou Gherig’s disease. OurCrowd named Cali Chill as Acting CEO and COO, a long-time executive who has led investment operations. Medved will stay active by focusing on strategy, global partnerships, and support for portfolio companies.
In his conversation with Calcalist, Medved said that after thirteen years leading the company this change was necessary but that he continues to work full days.
“A few months ago, I was hospitalized and diagnosed with ALS, a serious and terrible disease. Everything still works, but it’s very difficult for me to breathe. I’m improving and fighting it, and I still work eight to ten hours a day, which allows me to continue treatment.”
OurCrowd began in 2013 when new rules under the JOBS Act opened doors for online investment. The platform connected smaller accredited investors with venture deals that were once limited to big institutions. Under Medved’s leadership, it grew into one of the world’s largest tech investment networks, backing companies such as Anthropic, Databricks, Groq, and SpaceX.
As reported by Crowdfund Insider, OurCrowd now reports more than 2.6 billion USD in commitments across 500 portfolio companies and 68 funds with 240,000 registered investors from 195 countries.
Cali Chill said he is honoured to lead at this time and credited Medved for building the culture that drives the company. He said that by offering curated access to venture opportunities, OurCrowd bridges the gap between institutional investors and individuals who want professional access to global startups. Medved said he will keep pushing to democratize venture investing and use artificial intelligence to reach a wider community of investors.
See: OurCrowd Double IPO Success Provides Crowdfunding Validation
A Lasting Connection With Canada’s Crowd
Medved has been a returning keynote speaker at NCFA Canada events over the years, such as the 2015 Canadian Crowdfinance Summit and FFCON19: Fearless. He was known for his inspiring energy, storytelling, and ability to connect people. After his talks, crowds would often follow him as he handed out business cards and traded ideas with founders and investors. He was highly sought after and a regular guest in leading media outlets where he spoke about Israel’s technology ecosystem, global venture markets, and innovation trends. His stories about Israel’s startup culture and how necessity sparked resilience left a strong mark on the Canadian innovation community.
One memorable example came during his keynote at CCS 2015, when Medved made a spontaneous commitment on stage to open a Canadian office for OurCrowd. Within months, the firm delivered on that promise, establishing operations in Toronto and announcing a 1 million USD investment in Influitive, a Toronto-based advocate marketing leader. Ontario’s Minister of Economic Development at the time, Brad Duguid, described the move as "a landmark step for Canada’s growing technology and venture capital scene".
Read: Equity Crowdfunding Leader OurCrowd Opens Canadian Office; Targets 1st Investment in Canadian Company Influitive
Medved Continues to Lead Through ALS
Even now as Jon manages ALS, he continues to work and inspire others. He remains a powerful voice for founders, investors, and countries building inclusive capital markets. His determination to keep working through adversity shows the same spirit that made OurCrowd a global success. On behalf of NCFA, we wish all the best for Jon and his team during this time.
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 aa 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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Why Policy Scenarios Now Matter for Fintech Strategy
Fintech Risks | Oct 20, 2025
Image: Freepik/Rawpixel.com
Tiff Macklem Fireside Implies Fintechs Must Plan For Multiple Policy Outcomes as Trade and Inflation Risks Rise
On October 16, 2025, Bank of Canada (BoC) Governor Tiff Macklem joined Adam Posen at the Peterson Institute for International Economics (PIIE) in Washington for a public conversation about Canada’s economic outlook and global trade. Macklem said new tariffs, slower trade, and changing supply chains are impacting the Canadian economy.
As a result, he explained that the BoC is now using several possible economic paths instead of one fixed forecast because global uncertainty has become constant. The new approach was outlined in the Bank’s July 2025 Monetary Policy Report and compares what could happen if tariffs stay the same, ease, or rise, and indicates the impact of each option on inflation, output, and interest rates.
Canada’s Four Challenges in a Divided World
Macklem described four forces that will impact the next 10 years for Canada:
1. Trade now clusters around three main hubs led by the United States, China, and the European Union. The United States still dominates world finance even as investors question its safe haven status, and other countries like Singpore pushing above their weight.
See: Data Shows Tariffs Are Threatening Early Stage Innovation
2. Global trade and money flows are becoming uneven again (a recurring structural issue). Some regions keep running big surpluses while others, including North America, rely more on borrowing. Macklem said this growing imbalance adds risk to the global financial system and limits how much small economies like Canada can control their outcomes.
3. He said higher tariffs and unpredictable policy weaken demand, raise costs, and reduce the efficiency of supply.
4. Canada is feeling these pressures through weaker exports, slower investment, and lower productivity growth, outcomes that no interest rate decision can reverse.
From One Forecast to Several Possible Futures
Traditional forecasts assume one view of the world. Macklem explained that the Bank now works with three possible paths. One assumes current tariffs remain. One assumes tensions ease. One assumes further escalation.
See: Stephen Poloz’s Plan to Fix Canada’s Economy
The aim is to keep inflation expectations stable while helping households and businesses adjust to uncertainty. For fintechs and lenders, strategic business planning must now be built around several credible economic futures too, and not rely on a single base case. Funding, pricing, and credit policies should be tested against each path to stay resilient no matter which reality unfolds.
Trade Uncertainty and Financial Risk
Macklem explained that new tariffs and complex rules are adding cost and delay at the Canada–U.S. border, disrupting supply chains. Firms that once relied on integrated supply chains now need new suppliers, new routes, and stricter compliance to maintain trade eligibility. That adds cost and delays that ripple across sectors. Even service firms are affected through their clients and vendors.
For fintechs offering trade finance, payments, or working capital products, this environment creates opportunity but also exposure to new risks. There is demand for tools that make international transactions faster and more transparent, but also new risks tied to client sectors under pressure.
Competitiveness Through Productivity and Reform
The Governor stressed that raising productivity is now essential. He pointed to faster project approvals, fewer internal trade barriers, and stronger transport links as priorities to open new pathways.
See: Canada’s Public Sector Costs and Productivity Gap
The Bank’s recent reports say that fixing long-term barriers in the economy like slow project approvals or weak competition can improve growth more than changing interest rates (aka, monetary policy).
Fintechs can build solutions that help reduce administrative frictions, such as digital identity and onboarding tools can eliminate duplication between provinces. Compliance automation and regulatory technology can shorten approval times. Procurement platforms can help smaller firms reach national customers. These are examples of direct responses to the barriers that Macklem said must be addressed.
Neutral Rate, Cost of Capital, and Planning
Macklem also spoke about the neutral interest rate which is the level that keeps inflation stable without stimulating or slowing the economy. He said it may not align between Canada and the United States because productivity growth and fiscal policies differ. That divergence affects long term funding costs and the flow of investment capital.
See: How Competition Powers Canada’s Economic Growth
For fintechs that borrow in U.S. dollars or rely on foreign investors, funding costs and access to cash can change even if central banks don’t move rates. The safest approach is to plan for different interest rate outcomes instead of assuming Canada and the U.S. will always move together.
Digital Money and the Priority of Trust
When asked about digital assets, Macklem said the Bank’s work on stablecoins and a possible central bank digital currency focuses on preserving trust and value. The principle of the singleness of money means that one Canadian dollar must hold the same worth everywhere, whether in cash or digital form.
Stablecoin systems must avoid runs and guarantee convertibility. For fintech developers and innovators, it means creating systems that work within the regulated financial system, not outside. The most promising area is making international payments faster, cheaper, and clearer, while ensuring every digital dollar is fully backed and can always be redeemed.
Why Case Planning Matters For Fintech
Uncertainty is no longer an exception but a normal condition for business and policy. Every possible trade path changes inflation, growth, and the cost of capital. Fintech founders, investors, and lenders must build this thinking into their models and operations. That includes ready plans for each scenario, triggers for risk adjustments, and playbooks for client support when tariffs or rates move unexpectedly.
See: The Crisis Canada and Fintech Can’t Afford to Waste
The firms that incorporate this discipline and governance will not only manage volatility better but also build trust with investors and customers who highly value predictability in uncertain times.
Outlook
It's time for Canada to demonstrate adaptability, and treat uncertainty as a given design factor instead of a sudden surprise. Canada’s financial ecosystem, from established lenders to digital innovators, must treat uncertainty as a normal part of planning. Fintechs that adopt scenario planning, streamline processes, and improve real economy efficiency can help Canada compete globally even as the trading system fragments.
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 aa 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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