Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Enterprise, Scaleup
KOHO Launches Low Cost Global Money Transfer Service
Product Launch | May 29, 2025
Image from KOHO International Money Transfer (Youtube video)
KOHO Takes On Remittance Fees With Transparent and Fast Global Transfers
Daniel Eberhard, CEO of Canadian fintech KOHO announced the launch of a new International Money Transfer service that aims to transform how Canadians send money abroad. The product allows users to send funds to over 190 countries with no hidden FX markups or surprise fees. During beta testing, nearly all transfers arrived in less than 30 minutes, and the product is now publicly available.
Why KOHO Built a New Remittance Service
Remittances are a financial lifeline for many Canadians. According to CEO Daniel Eberhard, 1 in 5 Canadians send money abroad, and among those aged 18 to 34, the number rises to 1 in 2. Traditional services often charge 3% to 5% in fees and hidden FX costs, costing families thousands of dollars over time.
KOHO’s new service aims to be the lowest cost remittance option in Canada. It’s fully integrated into the KOHO platform, so users can access the service right away without having to download a new app or reconfirm their identity.
KOHO's Push for Financial Inclusion
This product launch builds on KOHO’s broad efforts to reduce financial barriers. For example, the company partnered with Canada Post to create the MyMoney Account, bringing modern banking access to underserved communities. KOHO is also in hot pursuit of a banking license and offering credit tools for renters.
This strategic focus of making finance more inclusive aligns with KOHO’s goal of helping users build stability and reduce costs, especially for immigrant and low income households who rely on remittance services.
Outlook
Koho and other Canadian fintechs continue to work on solving Canada's systemic cost and access issues in financial services. By addressing the needs of immigrant and global communities with a faster, cheaper, and more transparent services, KOHO is making a strong play to redefine consumer expectations in cross border finance, while strengthening it's position as a challenger bank focused on financial inclusion.
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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NCFA x CAFS 2025 Partner to Bridge Canada-Africa Fintech
NCFA Release | May 28, 2025
Canada-Africa Fintech Summit Aug 5-8, 2025 x NCFA
NCFA Canada Partners with Inaugural 2025 Canada-Africa Fintech Summit in Toronto
Toronto, ON – May 28, 2025 – The National Crowdfunding & Fintech Association of Canada (NCFA) is proud to announce a strategic partnership with the inaugural Canada-Africa Fintech Summit (CAFS), taking place from August 5 to 8, 2025, at the Sheraton Centre Toronto Hotel in downtown Toronto. This groundbreaking event will bring together fintech leaders, investors, policymakers, startups, and ecosystem builders from across Canada and the African continent to accelerate cross-border collaboration, mobilize capital, and drive inclusive innovation.
The strategic partnership aims to drive cross-border fintech growth, innovation, capital, and advance policy discussions and comes at a pivotal moment, following the release of Canada’s official Canada-Africa Strategy, which outlines a renewed commitment to building economic ties, investment, and digital cooperation between the two regions.
Africa’s $1 Trillion Innovation Opportunity
Africa’s fintech sector is experiencing explosive growth and global recognition. The continent has become a proving ground for digital financial innovation and a growing magnet for global capital. Here’s why it matters:
- Over 1.1 billion mobile money accounts in 2024 (more than 50% of global users). $1.1 trillion in transaction volume processed across African mobile money platforms in 2024
- An estimated $190 billion contribution to Sub-Saharan Africa’s GDP from mobile-enabled services
- Growth from 450 fintech companies in 2020 to over 1,263 by 2024. Nigeria hosts 28% of all fintech companies on the continent
- $1.55 billion in startup funding raised in 2023, with 58% coming from equity deals
- $919 billion across 62 billion transactions processed via mobile money in 2023 representing 65.6% of global mobile money value
The infrastructure, capital, and consumer demand are already in place. While only a few fintechs currently operate at scale across both Canada and Africa, the opportunity is open. Now is the time for founders, investors, and policymakers to turn this into a two-way fintech bridge, and CAFS 2025 is where that future takes shape.
NCFA-CAFS Strategic Partnership
NCFA is working closely with CAFS organizers to help shape a dynamic agenda that connects Canadian fintechs and investors to growth opportunities in Africa while also supporting African fintechs looking to enter the Canadian market and tap into its innovation ecosystem.
See: Canadian Fintech Booms with $9.5B
Craig Asano, NCFA Founder and CEO:
“CAFS 2025 represents a historic opportunity to connect two of the most innovative and entrepreneurial fintech ecosystems. We’re excited to support a platform that brings together the talent, tools, and investment needed to build truly global ventures.”
CAFS Program Overview
- Day 1 – AUG 5 (Evening): Hotel Check-in and Welcome Cocktails
Theme: Welcome to the inaugural CAFS 2025
- Day 2 – AUG 6 (Full Day): Innovate, Inspire, Connect
Theme: Fintech Innovation, Canada-Africa Strategy, Economic Growth, Partnerships
- Day 3 – AUG 7 (Full Day): Activate and Engage
Capital, Infrastructure, Policy Alignment, Mobilization
- Day 4 – AUG 8 (Half Day): Fintech Innovation Tour
Experience: Innovation Hubs & Fintech Company Tour, and Networking Boat Cruise for VIP delegates
Select Speakers
- HE Senator Kashim Shettima, Vice President, Federal Republic of Nigeria
- Gbenga Agboola, CEO and Co-Founder, Flutterwave
- Chuma Ezirim, Group Executive, E-Business and Retail Products, First Bank
- Sunil Sharma, Venture Capitalist and Ecosystem Connector
- Khadijat Amusat, Founder, Women TechMakers; Developer Relations Engineer, Celo Foundation
- Ayo Oyaleke, Co-founder and CEO, Mainstack (Techstars NYC ’23)
See: Davos 2025 Themes and Takeaways for Fintech
Lots more speakers confirmed and more to come. Full agenda coming soon.
Join the Movement
Dr. Segun Aina, President of the African Fintech Network and CAFS Co-Convenor:
“This isn’t just another fintech event—it’s a catalyst for shared opportunity. We’re fostering the relationships and strategies needed to scale inclusive fintech solutions across continents.”
Visit: https://cafsummit.com
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About NCFA Canada
The National Crowdfunding & Fintech Association of Canada (NCFA) is a global fintech association based in Canada that champions financial innovation and supports a vibrant fintech ecosystem through education, market intelligence, advocacy, and strategic partnerships. NCFA works with startups, investors, regulators, and stakeholders across fintech, web3, blockchain, crypto, AI, open banking, and alternative finance to drive inclusive growth and real-world impact.
About the Canada-Africa Fintech Summit (CAFS)
The Canada-Africa Fintech Summit (CAFS) is a global platform connecting fintech leaders, investors, startups, and policymakers from Canada and Africa. Focused on collaboration, investment, and innovation, CAFS accelerates scalable fintech solutions and sustainable economic growth. The 2025 edition in Toronto marks the Summit’s inaugural launch.
Inquiries:
Craig Asano
Founder and CEO, NCFA Canada
casano@ncfacanada.org
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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What High-Performing Brands Look For in a Marketplace Solution
May 28, 2025
Photo credit
High-performing brands aren’t just looking to exist in a marketplace. They’re looking to dominate it. That means the solution they choose can’t just be functional. It has to be scalable, smart, and built for the way people actually buy today.
Here’s what sets the decision-making process apart when you’re a brand that plays to win.
Fast, Flexible Onboarding
No brand wants to spend months stuck in implementation purgatory. Top brands look for marketplace solutions that get them up and running fast without sacrificing quality. Bonus points if the platform supports headless commerce or plug-and-play integrations with their existing tech stack.
Built-In Personalization
Generic doesn't cut it anymore. High-performing brands want every product recommendation, search result, and landing page to feel custom-tailored to the shopper. A marketplace solution needs to have native personalization or the ability to layer on AI and behavioral insights in real time.
Real-Time Data and Analytics
If you can’t track it, you can’t grow it. Top-tier brands expect powerful dashboards, real-time reporting, and actionable insights baked in. They're not waiting for monthly reports. They want to pivot strategies mid-week based on live performance data.
Seamless Seller and Product Management
A marketplace is only as strong as its vendors. The best solutions make it easy to onboard, manage, and support third-party sellers. Think intuitive dashboards, automated payouts, product syncing, and easy-to-navigate compliance tools.
Automation That Actually Saves Time
No one’s looking to add more manual work. High-performing brands want automation that takes real work off their plate. Inventory syncing, pricing rules, fraud prevention, order routing. It all needs to be smart, accurate, and hands-off once configured.
Customizable Without the Code Headaches
Templates are fine. But high-growth brands need to stand out. They want freedom to customize design, user flow, and features without relying on dev teams 24/7, which is why custom marketplace solutions are a smart move for brands that refuse to settle for templates.
Scalability Without Surprise Costs
Ambitious brands don’t plan for today. They plan for what’s next. That means their marketplace solution needs to grow with them—international expansion, new verticals, seasonal volume spikes—all without crashing under pressure or hiking up hidden fees. Brands aligned with growth often gravitate toward platforms that rethink traditional infrastructure, like those described in Harvard Business Review’s analysis of what makes an online marketplace disruptive.
Built for Search, Social, and Mobile
Shoppers don’t care if they’re browsing Instagram, Google, or your site. The experience needs to be seamless. Marketplace leaders want solutions optimized for SEO, fast-loading mobile UX, and social commerce integrations that convert.
Bulletproof Security and Compliance
Especially for enterprise brands, compliance isn’t optional. They expect airtight security protocols, GDPR and CCPA support, and reliable uptime. Trust is everything, and the right solution makes sure it’s never at risk.
Support That Shows Up
Finally, high-performing brands want partners, not just platforms. They look for marketplace solutions that offer strategic support, fast response times, and proactive help. Because when something breaks, they need someone who doesn’t just reply, they fix it.
Final Thoughts
The gap between good and great isn’t just about having a marketplace. It’s about having the right one. High-performing brands know that. They choose solutions that amplify their brand, empower their team, and make shopping feel like magic.
See: 10 Innovative Product-Led Growth Strategies
If your marketplace solution isn’t checking these boxes, it’s not built for growth. And your competitors are already moving on without you.
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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What the 2025 Throne Speech Means for Fintech and Growth
Innovation | May 17, 2025
Image: 2025 Throne Speech, Building Canada Strong
Building Canada Strong: Throne Speech Establishes Path for Innovation and Canada's Economy, Sovereignty, and National Unity
Today, on May 27, 2025, King Charles III delivered Canada’s Speech from the Throne in person for the first time since 1957. It's a symbolic speech that outlined a comprehensive and forward looking agenda with national priorities of productivity, sovereignty, security, and innovation. It sets the tone for the 45th Parliament, emphasizing the need to "build the strongest economy in the G7" and to act with urgency in a world that is "a more dangerous and uncertain place than at any point since the Second World War." Download the speech from the Throne (PDF format).
“An opportunity for Canada to embark on the largest transformation of its economy since the Second World War.”
For the National Crowdfunding & Fintech Association of Canada (NCFA), the speech is highly relevant as it recognized the role of technology, capital, and small businesses and innovators in strengthening Canada's resilience and leadership.
On Internal Trade, Infrastructure, and Innovation
Among the speech's most impactful economic promises:
See: The Crisis Canada and Fintech Can’t Afford to Waste
- Legislation to remove all remaining federal barriers to internal trade and labour mobility by Canada Day. These frictions cost the economy (and as a result tax payers) up to $200 billion per year.
- Create of a Major Federal Project Office to reduce project approval times from five to two years, while aligning infrastructure expansion with Indigenous consultation and environmental standards.
- A new plan called, "One Project, One Review" to work with provinces and territories so that major national projects only go through one streamlined approval process so projects can get approved and built quicker.
"By removing these barriers... we will unleash a new era of growth... It will enable Canada to become the world's leading energy superpower... and hub for science and innovation."
For fintechs, this means fewer roadblocks when expanding across provinces. Instead of trying to figure out the patchwork of rules and approvals (remember three versions of equity crowdfunding when it first rolled out?), it could become faster and easier to launch and scale services coast to coast. This policy change can make a real difference for founders of scaling companies.
New Focus on Housing, Investment, and Market Access
Create Build Canada Homes, a new housing sector built around modular and prefabricated construction, and providing financing for developers of affordable homes.
See: The Intersection of Fintech and Real Estate: How Innovation is Rebuilding the Foundation of Property Transactions
- GST reductions for homes under $1.5 million
- Municipal development charges at 50% for all multi-unit housing
- Measures to double housing starts and grow a new housing industry using Canadian labour, tech, and lumber
"The Government will... invest in the growth of the prefabricated and modular housing industry."
This will help open up new doors for fintechs building tools for mortgage access, construction financing, digital real estate platforms, and tenant services. Housing isn’t just about buildings. It’s also about people, families, and community, and fintech will be essential to making it all work faster and more affordable than before (at least that's the promise and opportunity/challenge facing us all).
National Security and ReArm Europe
The speech confirms Canada’s intention to join the ReArm Europe initiative to strategically align with EU partners to invest in transatlantic security and reduce reliance on U.S. military supply chains.
"The Government will protect Canada's sovereignty by rebuilding, rearming, and reinvesting in the Canadian Armed Forces... joining ReArm Europe."
This was a clear assertion of independence in the face of recent U.S. trade tariffs and annexation rhetoric from President Donald Trump.
U.S. Ambassador to Canada Pete Hoekstra, speaking before the throne speech, commented:
"If there's a message in there, there's easier ways to send messages. Just give me a call. Carney can call the president at any time."
See: Trump’s April 2025 Tariffs and What They Mean for Canada
Prime Minister Mark Carney, during a separate meeting, made Canada’s position unambiguous:
“It’s not for sale. It won’t be for sale. Ever.”
There are significant fintech implications around today's security which includes cybersecurity, fraud protection, and digital infrastructure to name a few. For fintechs working on compliance, identity verification, and borderless payment systems, Canada's new defense approach may boost demand for more secure, scalable tech. Not just in government systems but also for startups and businesses that need to keep their customer data safe of any threats and meet rising expectations for trust and transparency.
Rebuild Trust in Immigration and Celebrating Canada's Uniqueness
The Canadian Government will cap temporary foreign workers and international students at 5% of the population by 2027 to restore trust in immigration while still attracting top talent.
See: How Fintechs Are Tackling Financial Inclusion in Canada
The speech also reinforced protections for Indigenous rights, the French language, and Quebec culture, declaring:
"The French language and the Quebec culture are at the heart of the Canadian identity."
For fintechs focused on serving newcomers whether through digital banking, remittances, or providing other financial tools, this change will impact user growth. At the same time it offers an opportunity to design better tools for Canadians returning from abroad, and to focus on higher-skilled immigration pathways that better align with long term economic priorities (and less on a shotgun approach).
Fiscal Discipline and Investment Mobilization
Government operating spending will be capped at 2% annual growth. Waste will be cut and duplication eliminated, which will allow more capital to be diverted to companies and economic growth initiatives. Technology will be used to help improve public sector productivity.
"Spend less so Canadians can invest more."
See: Canada’s Productivity Depends on Intangible Tech Adoption
For fintech innovators, this means new tech and tools will be used more than ever to make the government more productive and efficient. So, whether you're in regtech, payments, or digital ID, there's opportunity to help the public sector modernize, cut costs, and serve Canadians better.
Outlook
A comprehensive Throne Speech in the face of geopolitical tension, population pressures like aging and rapid growth in certain regions, and growing economic pressure. For NCFA's community of fintech and innovation stakeholders, the policies announced will create new opportunities for a country that is in need of an renewal and/or overhaul.
“The Crown... stands proudly as a symbol of Canada today, in all her richness and dynamism.”
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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Strategy Buys More BTC as Canadian Crypto ETFs Grow
Bitcoin | May 27, 2025
Image: Freepik
Strategy Acquires 4,020 New Bitcoin as Canadian Crypto ETFs Gain Strength
On May 26, 2025 via press release, billionaire Michael Saylor's company, now rebranded as Strategy, announced the acquisition of an additional 4,020 Bitcoins between May 19 and May 25 for the total price of approx $427.1 million, showing growing corporate and institutional demand and confidence in digital assets.
See: National Bank Doubling Down on MicroStrategy’s Bitcoin Boom
This latest purchase brings Strategy's total bitcoin holdings to 580,250 BTC, bought at an average price of $69,979 per coin, and aligns with recent federal policy shifts, including the U.S. governments 2025 creation of a Strategic Bitcoin Reserve.
BTC vs Strategy Performance Comparison
According to Portfolioslab where you can compare returns, Strategy's stock (formerly MSTR) has outperformed Bitcoin over the past year, with a 1 year return of +119.31% versus Bitcoin's +59.13%. However, Bitcoin maintains a higher 10-year annualized return at 84.59% compared to Strategy’s 35.83%. Strategy’s higher volatility and risk metrics reflect its leveraged exposure to Bitcoin.
As of May 27, 2025, the Crypto Fear and Greed Index stands at 74 (Greed), indicating positive investor sentiment and the potential for price corrections if optimism overheats.
AI and Enterprise Innovation
On May 7, 2025, at Strategy World 2025, the company introduced several new AI and data tools aimed at helping businesses manage and use their data more effectively. These included Strategy Mosaic™, which helps companies organize and control data across different platforms like Tableau and Google Sheets, and Auto 2.0, a faster, more intelligent AI engine built to handle both structured and unstructured data through chat-like conversations.
See: What Bitcoin Pizza Day 2025 Still Teaches Us 15 Years Later
Strategy also launched Strategy One Standard Edition, a version of its platform for smaller organizations that want advanced analytics without a large IT setup. Chief Technology Officer Ponna Arumugam said their new AI system is built to learn, adapt, and scale as businesses grow. Full press release here, with livestream access on YouTube.
Canadian Crypto ETFs on the Rise
At the same time, Canadian crypto ETFs are gaining momentum with investors who are seeking regulated exposure to crypto, given global volatility and policy shifts. Canadian-listed ETFs continue to expand, led by the Purpose Bitcoin ETF (BTCC) with C$993.5 million in AUM and the Fidelity Advantage Bitcoin ETF (FBTC) with C$1.257 billion. Investors benefit from secure, regulated access to cryptocurrencies without needing to manage private wallets.
| ETF Name | Ticker | AUM (CAD) | Management Fee | Notes |
| Purpose Bitcoin ETF | BTCC | C$993.5M | 1.5% | First physically settled BTC ETF |
| CI Galaxy Bitcoin ETF | BTCX.B | C$781.9M | 0.4% | Low-fee Bitcoin exposure |
| Fidelity Advantage Bitcoin ETF | FBTC | C$1.257B | 0.4% | Cost-effective BTC ETF |
| 3iQ CoinShares Bitcoin ETF | BTCQ | C$361.6M | 1.0% | BTC price tracking exposure |
| CI Galaxy Ethereum ETF | ETHX.B | C$461.9M | 0.4% | Ethereum exposure |
| Evolve Bitcoin ETF | EBIT | C$254.5M | 0.75% | Uses CME Bitcoin Reference Rate |
| Purpose Ether ETF | ETHH | C$130.7M | 1.0% | Physically settled ETH ETF |
| Purpose Bitcoin Yield ETF | BTCY | C$126.5M | 1.1% | Covered call strategy for BTC |
| Evolve Cryptocurrencies ETF | ETC | C$61.35M | 0.75% | Mixed BTC and ETH exposure |
| 3iQ Ether Staking ETF | ETHQ | C$49.6M | 1.0% | ETH price and staking exposure |
See: GENIUS Act Advances as Bitcoin Hits Record High
Outlook
Strategy's latest addition to it's deepening BTC position, and the growth of Canadian crypto ETFs highlight the fact that crypto is constantly becoming more institutionalized. Canada’s proactive regulatory stance continues to make it a hub for compliant crypto investment products.
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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Where the Gaps Are: Fintech Insights from FCA Data
Fintech Data Research and Strategy | May 25, 2025
Image created by AI, Personas based on real data from 2024 Financial Lives, FCA
FCA Financial Lives 2024 Survey Data Reveals 4 Personas with Real Needs
Four FCA personas reveal where fintech innovation must go next
On May 16, 2025, the Financial Conduct Authority (FCA) published one of the richest datasets ever on UK consumer financial behaviour, resilience, and preferences called, "Financial Lives 2024 survey". It's an annual snapshot taken ever 2-3 years and offers valuable benchmarks and insights into how financial institutions, fintechs and financial engineers can translate this data into strategy.
There are 18 excel sheets with various tabs covering survey responses for almost 1300 survey questions pertaining to a wide range of topics such as attitudes and product/service ownership of payments, retail banking, consumer investments, general insurance and protection, mortgages, credits and loans, assets and debts, cash savings, advice/guidance and pension. There's also tracker data tables for comparing and analyzing changes over time across 2017, 2020, 2020 and 2024 surveys.
See: UK vs. Canada: A Tale of Two Different Crypto Consumers
Drawing directly from the FCA 2024 Financial Lives survey results, we created 4 personas that reveal who is underserved, gaps in the ecosystem, and where fintechs, banks, and credit unions should consider focusing on to rebuild trust and relevance.
Meet Amira (28) - The Struggling Young Borrower
Amira is a young adult struggling with inconsistent income from various gigs, rising living costs, and a heavy reliance on credit. She is digitally active but financially stretched and uncertain as to who she can trust. Survey data shows:
- 61% of people aged 25–34 use BNPL or revolving credit, often to cover essentials
- 33% lack £100 in savings
- 14% trust score in finance (below 5/10)
See: How Fintechs Are Tackling Financial Inclusion in Canada
Fintechs should build real-time tools that show all credit and BNPL use in one place, including spending limits, that help users like Amira avoid taking on more debt than they can handle. Adding clear, user-led budgeting flows into existing BNPL workflows can help bridge shortfalls and help build trust with transparency.
Meet Stella (66) - The Silent Conservative Saver
Stella is an older consumer who likes to avoid debt, prefers analog channels, and feels underserved by digitally native services. She values trust and simplicity highly and struggles to access new tools. Survey data shows:
- 72% of older adults avoid credit
- 63% prefer paper or phone contact
- 66% do not understand ESG or digital pension tools
See: CSA Pauses Climate and Diversity Disclosure Rules
Financial institutions should consider creating hybrid formats that combine print materials with digital access points, such as QR codes linking to audio summaries. ESG and pension tools can be made more accessible with phone helplines and in-branch tutorials to help consumers who lack confidence to gain confidence and fill in comprehension gaps.
Meet Rohan (42) - The Resilient Digital Builder
Rohan is a confident, digitally native, and actively manages savings, investments, and often finds himself switching providers to maximize value. He expects clarity, ESG transparency, and integrated experiences.
- 89% of this group use investment or money management apps
- 75% save monthly
- High openness to switching, low confidence in ESG clarity
Rohan needs a unified dashboard that lets him integrate his finances across pension, savings, and ESG investments. Fintechs can lead here by offering smart comparison tools that verify impact metrics, automate vendor switching, and offer ESG guidance within the same experience.
Meet John (50) - The Overloaded Urban Middle
John is a middle-aged adult that is juggling aging kids, debt, complex commitments, and low financial resilience. He is time-poor, questions everything, and is stuck with outdated, fragmented financial tools. The survey shows:
- 81% report low financial resilience
- 31% have 4+ unsecured debts
- 45% avoid switching due to complexity and mistrust
Institutions must prioritize credit and debt consolidation tools for this segment by offering personalized paths and support towards financial recovery. Embedding phone or online chat support into their digital journeys can help reduce friction, while demonstrating quick wins to build confidence and encourage engagement.
Fintech Product Design and Strategy Matrix
We've come up with the following table that matches the 4 personas with specific fintech strategies tailored to their behaviours, needs, and gaps, all based on the FCA's 2024 financial lives data, and to support product design, channel strategy, and business model decisions.
See: Fintech Trends & Predictions Across Generations in 2025
| Persona | Product Opportunity | Channel Strategy | Business Model Insight | Ecosystem Gap |
| Amira – Young Borrower | BNPL budgeting + affordability | Mobile-first, embedded in BNPL apps | Freemium with affiliate links to trusted debt tools | Risk-aware BNPL integrations |
| Stella – Conservative Saver | Print-to-digital ESG education | Branches, phone, community agents | Subscription or pay-per-use legacy planning tools | Print-digital pension guidance |
| Rohan – Digital Builder | ESG + switch optimizer dashboard | Self-serve, in-app investing hubs | B2C SaaS with optional robo-advice tier | ESG decision confidence |
| John – Overloaded Middle | Modular savings + credit coach | Web app + human phone fallback | Hybrid subscription + nonprofit partnership model | Blended digital advice models |
Why It Matters
Each of the 4 personas created actually represents thousands of real individuals and their financial lives in 2024, caught between fragmented services and changing financial needs.
See: G20’s Vision for Financial Inclusion through Digital Public Infrastructure
The profiles above are designed to help fintechs and institutions develop a targeted roadmap based on clearly defined, data-driven groups with targeted solutions, to help provide responsible and more inclusively designed financial products/services for underserved groups in need. A similar survey in Canada would probably produce similar 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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What Bitcoin Pizza Day 2025 Still Teaches Us 15 Years Later
Bitcoin Pizza Day | May 23, 2025
Image created with the help of AI (excuse typos)
May 22 is a Symbol of Real-world impact, Adoption, and Belief in DeFi Systems
From a $41 Pizza Order to a $1.1 Billion Milestone. On May 22, 2010, a Florida-based programmer named Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas. At the time, the two pizzas were worth about $41. Fast forward 15 years later, and that transaction stands as one of the most iconic moments in crypto history.
It was the first time a digital currency went from concept to a real business commerce transaction. That moment laid the groundwork and fuelled 15 years of decentralized innovation. It showed the world what happens when a community network agrees on value (or something that's valuable), not just in code, but in practice.
See: Bitcoin’s 10 Commandments: Insights from Satoshi’s Emails
Since that time, the price of Bitcoin has continued to increase in value significantly.
Adoption tells the story
WordPress began accepting BTC in 2012. Expedia and Overstock followed in 2014.
In 2014, the same 10,000 BTC would have been worth about $2.3 million.
In 2020, MicroStrategy (now Strategy), led the corporate charge by pioneering the acquisition of BTC as a reserve asset, buying 21,454 bitcoins in August 2020.
By 2021, El Salvador had gone a step further, declaring Bitcoin legal tender. Tesla made headlines in 2021 with a $1.5 billion investment. By then, that value climbed to $91 million.
Between 2023 and 2024, major players like Stripe, PayPal , and Visa built crypto integration directly into their payment platforms.
In 2024, Fidelity , BlackRock and a total of 11 issuers entered the space with Bitcoin ETFs and custodial offerings.
And in 2025, the market value of those two pizzas is at over $1.1 billion.
Happy Bitcoin Pizza Day!
Every year, crypto communities celebrate May 22 as a symbol of decentralized resilience. Pizza giveaways, digital art drops, and grassroots meetups from Barcelona to Bangkok to Toronto. But remember, the largest lesson isn't about the increase in price or value.
See: GENIUS Act Advances as Bitcoin Hits Record High
It's about believing in possibilities and building outside the institution, the margins. Bitcoin Pizza Day is digital moment that that reminds us that a financial revolution can begin with a single offer or transaction. Sometimes, that's all it takes. Two pizzas are enough to change the world. Do you believe?
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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