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
Is TikTok Going Blockchain? Impact on Creator Economy
Blockchain | March 11, 2025
Image: Pixabay/Riki32
Can Blockchain Save TikTok? The Battle Over Its U.S. Operations
The fight over TikTok's future in the U.S. is still in the heat of battle with American operations required to sell 75 days after January 19, 2025 or face a ban, per President Trump's executive order that pushed out the original ban. Reportedly there are several groups in discussion now to acquire the asset with Alex Ohanian Co-founder of Reddit now joining the Project Liberty Consortium's bid led by Frank McCourt to acquire and move TikTok's U.S. Ops to the blockchain. While a deal may seem imminent, what does it mean for TikTok, its parent company ByteDance, and the broader creator economy?
U.S. Crackdown and Push for a Sale
TikTok U.S. has been under a watchful eye due to national security concerns that parent company, Chinese-based ByteDance, could expose user data to the Chinese government. As a result, TikTok America must be sold in April 2025 or face a ban.
See: Kevin O’Leary’s TikTok Bid – Privacy and Innovation
Several groups have stepped up with public bids (there are likely others in private) including:
- Project Liberty Consortium – Blockchain-focused group led by Frank McCourt and now joined by Alexis Ohanian
- Jesse Tinsley and MrBeast – Tech entrepreneur and a major YouTube personality MrBeast have also formed a bid to acquire TikTok U.S. per Fortune
- Perplexity AI – San Francisco-based artificial intelligence juggernaut has proposed a merger
- Potential Oracle Deal – Trump floated the idea that Oracle co-founder Larry Ellison could be a possible buyer given that TikTok already uses Oracle for U.S. data hosting
- Reid Rasner – A Wyoming entrepreneur offered $47.45 billion to buy TikTok and relocate its headquarters to Wyoming
President Donald Trump recently confirmed there are four major groups in the bidding process, but did not specify which group he favours. He also hinted back in January that the U.S. government should receive a 50% stake in the company as part of the joint venture deal.
Could China Block the Sale?
Despite all the kerfuffle, China has signalled that they may block any forced sale of TikTok U.S., adding more complexity to the negotiations. Chinese regulators have authority over TikTok’s core algorithm and may prevent its sale to a U.S. company. If that happens, they could challenge the U.S. law in court while maintaining its algorithm under Chinese control, or opt to shut down U.S. operations instead of selling under duress.
What Happens to TikTok’s Creator Economy?
TikTok is more than just a place to watch videos. It's become a major platform where influencers, small businesses, and brands connect with audiences and earn money. Many people rely on it for income, and any change in ownership or government rules could affect how creators get paid, how the algorithm works, and how the advertising function works overall.
How Blockchain Could Transform Social Media
If Ohanian’s bid succeeds, adding TikTok on-chain would change how user data is stored and monetized. It would allow creators to earn money directly through digital tokens or decentralized finance tools while also making TikTok’s algorithm more transparent, and in doing so, reduce the control any central authority has over content moderation. Models built on blockchain can operate on smart contracts, which means decisions about content moderation, ad revenue distribution, and engagement algorithms can be made in a transparent and automated way.
See: Visa’s Solutions for the Creator Economy and Fintech Opportunities for Tomorrow’s Digital SMBs
For creators, blockchain unlocks direct monetization opportunities. Instead of relying on advertising revenue models controlled by platforms, creators could be paid instantly through crypto, NFTs, or microtransactions, avoiding high platform fees. Blockchain could also improve security, reducing fake accounts and ad fraud by using decentralized identity verification. Voting and governance structures could be also built into social media platforms, allowing users to have a say in platform policies through decentralized decision-making models.
This would be a major evolution of how social media models work today where tech giants like Meta and Google profit from user data without direct user control. However, integrating blockchain into a platform as massive as TikTok comes with its own set of regulatory and technical challenges.
Challenges and Trade-Offs
One major challenge in bringing blockchain to social media at scale is cost and scalability. Running transactions and storing content on a blockchain takes a lot of computing power, making it more expensive than traditional cloud-based platforms. Because TikTok handles millions of interactions daily, significant tech solutions would need to be implemented to run TikTok U.S. on a blockchain efficiently.
Another issue is ease of use. Social media platforms today are designed to be simple, easy to sign-up with streamlined interfaces. Blockchain platforms however require users to manage private keys or use crypto wallets that could cause some hiccups for those unfamiliar with blockchain. Then there's regulation which is also a gray area. Governments around the world are still figuring out how to handle decentralized networks. Rules about content moderation, taxes on digital assets, and data privacy are not yet clear, which could create legal uncertainty for the business.
See: Trump Media’s Patriot Economy Expands into Fintech
Lastly, while Web3 advocates push for blockchain-based alternative solutions, most users are still comfortable with ad-driven business models. A shift to blockchain social media would take take and its success would depend on the average user's experience and any advantages they receive.
Outlook
While bidders line up, China’s reaction and ByteDance’s strategy will determine the outcome. If a sale does happen, it could set a precedent for how Chinese foreign owned tech companies operate in the U.S.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
5 Common Tax Mistakes Canadian Small Businesses Make
March 10, 2025
Image by Nataliya Vaitkevich on Pexels
Running a small business in Canada comes with many responsibilities, including staying compliant with tax regulations. However, with ever-changing laws, various deductions, and strict deadlines, small business owners make tax mistakes that result in costly penalties, audits, and financial setbacks. Here are five common tax mistakes Canadian small businesses make.
1. Not working with a professional
Many small business owners try to manage their taxes alone to cut costs. While this might seem like an excellent saving strategy, it often leads to costly mistakes and compliance issues. Consider working with professionals from reputable firms like this Calgary accounting firm to ensure compliance with tax laws, maximize deductions, and reduce the risk of errors. A professional accountant can provide valuable tax planning strategies and help navigate complex financial regulations. This will help save time, reduce stress, and prevent costly penalties.
2. Failure to maintain accurate records
One of the most common tax mistakes small business owners make is failure to maintain proper records of income and expenses. Poor bookkeeping can result in miscalculations, missed deductions, and potential audits, so ensure you keep an accurate record of your income and expenses. According to the Canada Revenue Agency, small business owners should maintain accurate records for at least six years. The following are tips to ensure your business's records are organized and compliant:
- Use accounting software: Invest in reliable accounting software to track income, expenses, and invoices efficiently.
- Separate business and personal finances: Maintain a dedicated business bank account and credit card to avoid confusion.
- Keep digital and physical copies: Store receipts, invoices, and financial statements in digital and physical formats for easy access.
- Reconcile accounts regularly: Compare financial records with bank statements monthly to catch errors early.
3. Missing tax deadlines
Many small businesses struggle with meeting tax deadlines, leading to unnecessary penalties and interest charges. Be sure to familiarize yourself with key dates, such as the deadline for filing a corporate tax return, often six months after the fiscal year-end. You could also set up automated reminders to prevent missed deadlines and associated fees.
4. Misclassifying workers
It is common for small business owners to misclassify workers, which can lead to severe tax and legal consequences. Many businesses label employees as independent contractors to reduce payroll taxes and avoid providing benefits. However, the Canada Revenue Agency (CRA) has strict guidelines for worker classification, and misclassification can result in fines and back taxes.
To avoid misclassification, distinguish between employees and contractors by evaluating factors such as control, financial dependence, ownership of tools, nature of the working relationship, and profit or loss. You could also seek professional advice to ensure compliance, especially when in doubt.
5. Overlooking tax credits and deductions
Small businesses often miss out on crucial tax credits and deductions that could significantly reduce their tax burden. Commonly overlooked deductions include:
- Home office expenses
- Vehicle expenses
- Business-related travel costs
The CRA also offers various tax credits, including the Scientific Research and Experimental Development ( SR&ED) tax credit. Keep detailed records and understand what qualifies you for tax benefits to maximize deductions.
Endnote
Managing taxes effectively is crucial for any small business's financial health and long-term success. Keep accurate records, meet deadlines, classify workers correctly, leverage tax deductions, and seek professional accounting assistance to help your small business achieve financial stability and success.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Top 5 Backlink Building Companies in 2025 Trusted by SEO Professionals
March 10, 2025
Image: Freepik
Backlinks remain one of the most important factors in SEO success. High-quality backlinks from authoritative websites signal trust and relevance to search engines, helping businesses rank higher. However, finding reliable link-building companies that deliver real results can be challenging. SEO professionals trust only a few companies that provide transparent, data-driven, high-authority backlinks. Here are the top five backlink-building companies in 2025 that have earned trust in the industry.
Top 5 Backlink Building Companies in 2025
Searcharoo
Searcharoo is a highly trusted link-building agency known for its data-driven approach and proven SEO results. Owned by Web Media Group Ltd and managed by Karl Hudson and James Dooley, Searcharoo secures high-quality backlinks through guest posts, custom outreach, and niche edits. SEO professionals rely on its transparent reporting, rigorous quality control, and high-authority placements to achieve long-term SEO growth. With a strategy focused on scalability and measurable success, Searcharoo is a go-to choice for businesses seeking powerful, result-driven link-building solutions.
FATJOE
FATJOE is a leading link-building provider known for scalability, efficiency, and fast delivery. Specialising in guest posts, niche edits, and blogger outreach, FATJOE makes it easy for businesses to order backlinks at scale. SEO professionals trust FATJOE for its reliability, competitive pricing, and ability to handle bulk link orders, making it a top solution for businesses needing consistent backlink growth.
UK Linkology
UK Linkology is a respected SEO company that provides safe, white-hat link-building services. Known for its manual outreach and strict vetting process, UK Linkology ensures every backlink comes from high-authority and niche-relevant sites. SEO professionals appreciate UK Linkology’s commitment to safe, sustainable link-building strategies, ensuring long-term ranking improvements without SEO risks. As a trusted name in the industry, UK Linkology remains a go-to choice for businesses prioritising white-hat SEO and domain authority growth.
Reachology
Reachology is a digital PR and editorial link-building company that secures high-authority backlinks from media and news outlets. Using editorial placements, PR outreach, and content marketing, Reachology helps brands build credibility and gain organic traffic. SEO professionals rely on Reachology for its ability to secure authoritative, naturally placed links, making it ideal for businesses aiming to enhance brand reputation and SEO performance.
Whitepress
Whitepress is a global link-building marketplace that connects businesses with thousands of publishers worldwide. By offering sponsored content, guest posts, and PR placements, Whitepress gives businesses full control over link placement and budget. SEO professionals trust Whitepress for its wide network of quality publishers and transparent pricing, making it a great choice for businesses looking for flexible and cost-effective link-building strategies.
How to Choose the Best Backlink Building Company for Your SEO Strategy
Choosing the right backlink-building company is crucial for businesses that want to enhance their search engine rankings. The best agencies offer transparent reporting, high-quality links, and industry expertise to help businesses achieve sustainable growth. When selecting a provider, businesses should consider factors such as:
- Reputation and Trustworthiness – Companies with a proven track record in delivering real SEO results.
- Types of Backlinks Offered – Some agencies focus on guest posts, while others specialise in editorial links or niche edits.
- Scalability and Pricing – A company should meet budget constraints and growth objectives.
- Reporting and Transparency – The ability to track progress and measure the effectiveness of backlinks.
By evaluating these factors, businesses can select the best link-building company for their specific needs.
Why Backlink Quality Matters More Than Quantity in 2025
The days of acquiring massive volumes of low-quality backlinks are long gone. Search engines like Google prioritise relevance, authority, and natural link profiles when ranking websites. A smaller number of high-quality, authoritative backlinks is far more effective than thousands of low-value links.
See: Narwhal Project: Growth Insights from the Class of 2014
Quality backlinks improve SEO by:
- Boosting Domain Authority – Links from reputable sites signal credibility.
- Enhancing Organic Traffic – Strong backlinks drive referral traffic from trusted sources.
- Reducing the Risk of Penalties – Poor-quality backlinks can lead to search engine penalties. In contrast, high-quality ones provide long-term ranking stability.
This is why SEO professionals prioritise working with trusted backlink-building companies that focus on quality over quantity.
Why SEO Professionals Trust These Link-Building Companies
SEO professionals choose these companies based on several key factors:
- Transparency – Clear reports on backlinks and placements.
- Authority – High-quality links from relevant, trusted websites.
- Ethical Practices – White-hat strategies that comply with search engine guidelines.
- Scalability – Ability to support businesses of all sizes, from startups to enterprises.
- Proven Results – A history of improving rankings and driving organic traffic.
These factors ensure businesses can confidently invest in link-building without concerns about penalties or wasted efforts. However, even the best backlinks must be properly indexed to maximise their SEO impact.
The Importance of Backlink Indexing for SEO Success
Even after securing backlinks, ensuring they are indexed by Google is critical. Backlinks that are not indexed do not contribute to rankings. Here are the top tools SEO professionals use to accelerate backlink indexing:
BacklinkIndexingTool
BacklinkIndexingTool helps Google recognise and index backlinks quickly, ensuring that new links contribute to SEO efforts faster. It is ideal for guest posts, niche edits, and sponsored articles.
Indexceptional
Indexceptional is a bulk indexing tool that allows businesses to submit multiple backlinks simultaneously and monitor indexing progress. It is perfect for large-scale link-building campaigns.
GigaIndexer
GigaIndexer offers one of the highest success rates in backlink indexing, helping businesses ensure that search engines recognise and value their links.
Final Thoughts
Choosing the right backlink-building company is essential for SEO success in 2025. Searcharoo, UK Linkology, Reachology, FATJOE, and Whitepress are the most trusted by SEO professionals due to their proven track records, ethical link-building strategies, and ability to deliver real results. Whether businesses need custom outreach, high-authority editorial links, or scalable link-building solutions, these companies provide the expertise to drive higher rankings and long-term search visibility.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Canada-U.S. Tariff Delay & $6B Federal Support Announced
Economy | March 7, 2025
Image: Freepik/rawpixel.com
Canada-U.S. Tariff Delay Until April 2, $6 Billion Federal Support Announced
As of March 7, 2025, Canada and the U.S. are still locked in a tense tariff dispute but there's been a shift in the timeline. The 25% tariffs originally set to take effect this month have now been delayed until April 2, 2025. Meanwhile, the Canadian government has stepped in with financial support for businesses and workers expected to be hit hardest.
Tariff Delay and What It Means
Developments and updates are fluid as both countries negotiate to resolve the ongoing disputes while trying to mitigate adverse economic impacts to jobs and trade.
- February 2025: Initial tariff announcement and delay - President Trump announced a 25% tariff on nearly all imports from Canada and Mexico, citing concerns over border security and drug trafficking. The tariffs were initially set to begin on February 4 but were postponed by a month following negotiations with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum.
- March 5: Automotive sector postponement - The U.S. administration granted a 30-day reprieve from the 25% tariffs for automakers compliant with the United States-Mexico-Canada Agreement (USMCA). This was done to minimize disruption given that the automotive industry is heavily reliant on integrated supply chains across North America including Canada, Mexico and the U.S.
- March 6: Expanded tariff delay until Apr 2- President Trump extended the tariff postponement to include all USMCA-compliant goods from Canada and Mexico, effectively delaying the 25% tariffs on these products until April 2, 2025. This allows more time for negotiation and to address economic concerns and market volatility.
Canada's Response and $6 Billion Federal Support
Despite the U.S. delaying tariffs on USMCA-compliant goods, Canada is sticking to its guns and keeping the initial retaliatory tariffs of 25% on $30 billion worth of U.S. goods on products like orange juice, peanut butter, and motorcycles. However, Canada suspended the second wave of tariffs worth $125 billion until April 2 following the U.S. postponement. Additionally, Ontario Premier Doug Ford announced a 25% increase in electricity charges for U.S. states starting March 10 as a countermeasure.
See: The Crisis Canada and Fintech Can’t Afford to Waste
Today, the Canadian government announced a $6 billion support package to help businesses and workers affected by U.S. tariffs. This includes financial support for exporters, farmers, and small businesses as well as temporary changes to Employment Insurance rules to assist workers facing job disruptions.
- $5 billion to help exporters and Canadian businesses find new markets outside the U.S.
- $1 billion for farmers through Farm Credit Canada to help the agriculture sector manage cash flow problems
- $500 million in loan support for small businesses to help companies directly impacted by tariffs
- Temporary employment insurance rule changes, providing more flexibility for workers to receive benefits while working reduced hours
Global Reaction
This Guardian's editorial summarizes the situation clearly and positions Canada on the global frontline of fair trade. President Trump’s 25% tariffs on Canadian imports are causing major economic concerns but his false claims about the border are making things even worse. Trump has repeatedly falsely stated that Canada is allowing a surge of illegal immigration and has linked this to his tariff decisions but there is no evidence of a significant rise in illegal crossings from Canada into the U.S. Trump's administration has also accused Canada of being a gateway for fentanyl trafficking, even though most illegal fentanyl enters the U.S. through legal ports of entry from other countries. Canadians are fed up and fighting back by boycotting U.S. products, supporting Canadian businesses, and demanding strong action from their government. Canada is proving itself to be a global leader in fair trade, pushing back against misinformation and working to keep its economy strong despite U.S. pressure.
Closing Outlook
While the temporary delay gives both sides a chance to talk, businesses and consumers should prepare for potential price increases if tariffs go ahead in April. The coming days/weeks will be critical for trade representatives and negotiators to find a resolution.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Microsoft Unveils New Game-Changing AI Sales Agents
AI Innovation | March 7, 2025
Image: Freepik AI
Microsoft Launches AI Sales Agents, Challenging Traditional Sales Methods and Salesforce’s Agentforce
On March 5, 2025, Microsoft launched a new AI Sales Accelerator program with two new AI sales agents to help businesses sources leads, find potential customers and manage/follow-up on outreach. This iteration of AI agents automate routine tasks but they aren't meant to fully replace human sales reps. They are aimed at freeing up sales teams to focus on building relationships and closing deals.
From Data Entry Management to Smart Selling
Then: Most CRM systems today work like digital filing cabinets where they store customer information and track interactions to help with lead management but sales teams still do most of the heavy lifting and manual work like sending emails, updating records and following-up with leads.
See: How PhD-Level AI Agents Will Change Financial Services
Now: In 2025, AI sales agents take CRM to a whole new level by automating these repetitive and administrative tasks to accelerate the sales pipeline so human sales reps can focus on higher value touches and closing deals themselves. It's leaps and bounds ahead of just organizing data. AI sales agents can qualify leads, write personalized outreach messages, and even predict which deals are most likely to close, all without human effort.
How Microsoft’s AI Sales Agents Compare to Salesforce’s Agentforce
Salesforce was quick out of the gate to launch its AI powered Agentforce which focuses more on customer service and assisting sales teams with decision making instead of fully automating sales tasks. Below is an overview of how Microsoft's new AI agents stack-up and compare:
| Feature | Microsoft AI Sales Agents | Salesforce Agentforce |
| Primary Focus | Sales Process Automation | Customer Service & Workflow |
| Key Capabilities | Lead qualification, deal processing, AI-driven outreach | AI-powered customer service, process automation |
| Integration | Microsoft Dynamics 365 | Salesforce CRM |
| AI Execution Level | Fully autonomous sales actions | AI-assisted decision-making |
AI's Impact on The Future of Sales
See: The Rise and Implications of a New AI Software Workforce
It's currently one of the more common narratives that AI will augment instead of replace the job of sales people, so we thought let's look at how the role is shifting from an administrative heavy workload to a more strategic consultative and AI hybrid selling role.
| Sales Task | Today (Manual Process) | Future Hybrid Role (AI + Human Collaboration) |
| Lead Qualification | Sales reps manually review & score leads | AI auto-qualifies leads, reps focus on high-value accounts |
| Initial Outreach | Reps write & send personalized emails | AI drafts & personalizes outreach, reps approve & refine |
| Follow-Up | 3-5 follow-ups per lead, managed manually | AI automates follow-ups, reps intervene on complex deals |
| CRM Updates & Admin Work | Reps log every interaction, track pipeline | AI handles CRM updates, reps focus on relationship building |
| Deal Closing | Reps manage full process from start to finish | AI speeds up process, reps negotiate and finalize contracts |
Bottom Line
- Reps spend 70% less time on admin tasks and more time selling (higher productivity)
- Higher close ratios with AI ensuring faster, more personalized outreach, keeping leads engaged
- Lower customer acquisition costs leading to higher ROI per sales rep
- Businesses can scale revenue with smaller and more efficient/effective teams (instead of carrying large sales teams)
Throwback to 2021: Bracing For Change In The Era Of The Augmented Workforce
Let's look at an example cost savings, comparing a Hybrid AI sales role with a traditional sales approach
| Scenario | Traditional Sales Team | AI-Augmented Sales Team |
| Sales Reps Required | 10 reps | 5 reps + AI Assistants |
| Annual Cost per Rep | $80,000 salary + commission | $80,000 salary + AI subscription ($10,000) |
| Total Sales Costs | $800,000 | $450,000 (44% cost savings) |
| Revenue per Rep | $500,000 | $750,000 (AI-enhanced productivity) |
| Total Revenue Generated | $5M | $5.25M |
Why This Matters
Want higher productivity, lower costs, and better, more personalized customer engagement? Companies adopting AI-first CRM solutions can boost revenue per sales rep by scaling smarter, leaner, and more efficient AI hybrid sales teams.
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Trump Signs Order for Bitcoin Reserve, Crypto Stockpile
Digital Assets | March 7, 2025
AI image
Trump Signs Executive Order Establishing Strategic Bitcoin Reserve and Digital Asset Stockpile
On March 6, 2025, President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile (read the Fact Sheet), which was announced by White House AI and Crypto Czar David Sacks on X. This is an historic shift in U.S. policy towards the crypto sector.
David Sacks on X:
"Promises made, promises kept. This Executive Order underscores President Trump’s commitment to making the U.S. the 'crypto capital of the world.'"
What The Executive Order Means
The executive order creates a Strategic Bitcoin Reserve, which acts like a digital version of gold reserves. Instead of selling Bitcoin seized in legal cases, the government will hold onto it as a long-term asset to ensure Bitcoin is part of America's financial strategy rather than being liquidated. Government agencies must determine if they have any seized Bitcoin that should be transferred into the reserve. The Treasury and Commerce Departments have also been given authority to look for ways to increase the government’s Bitcoin holdings without using taxpayer money.
See: SEC Commissioner Peirce Consults on Crypto Regulations
Also to address the debate over a dedicated Bitcoin reserve vs a basket of crypto, the order establishes a U.S. Digital Asset Stockpile to handle other cryptocurrencies seized by the government. However unlike Bitcoin which will be kept as a long-term asset, the government has the option to sell other digital assets in the stockpile when needed. The Treasury Secretary will be responsible for deciding how to manage these assets.
For transparency, the order requires a complete audit of all digital assets held by the government. Every federal agency must report exactly what cryptocurrencies they have so they can be tracked and managed.
Fixing the Gaps Government's Crypto Strategy
President Trump’s executive order puts an end to the government’s uncoordinated approach to handling seized digital assets. "Premature sales of Bitcoin have already cost U.S. taxpayers over $17 billion," Sacks noted. The new policy ensures that all digital assets are managed under a unified strategy led by the Treasury Department, preventing rushed sales and maximizing the value of crypto held by the government.
See: Trump’s U.S. Crypto Reserve Sparks Market Surge, Debate
By placing all government held digital assets under the Treasury’s control and requiring a full audit, this order creates a more organized and accountable system. This move not only helps the U.S. get the most value from its crypto holdings but also sets an example for how other governments might approach digital asset management.
What’s Next?
Today from 1:30 PM to 5:30 PM EST, the White House is hosting a Crypto Summit or roundtable with key policymakers and industry leaders to discuss the impact of the executive order and other key agenda items in focus around securing Bitcoin's place in U.S. financial infrastructure. Cointelegraph has published a list of confirmed attendees who accounts for about 22 executives to participate on the future of digital assets in the U.S.
Here's a PBS link for your viewing. Kickoff time seems to be quite fluid, looks like around 3 PM EST:
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. 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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Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
Nov 7, 2026 | Last Updated Nov 13, 2026 | NCFA Fintech Whisperer | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Competition And Market Structure, Cross Border Payments And FX, Cybersecurity Fraud And Financial Crime, Digital Assets Blockchain And Tokenization, Digital Banking And BaaS, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Payments Infrastructure And Money Movement, Regulation And Policy, Risk Compliance And Regtech, SME Finance And Business Banking, Sustainable Finance ESG And Financial Inclusion, Treasury Liquidity And Cash Management, Wealthtech Investing And Trading NCFA Fintech Whisperer is a live weekly market intelligence page tracking financial technology and financial innovation developments that change how markets operate. Coverage spans NCFA's full financial innovation taxonomy, with Canada first and global developments included when they materially affect rules, market access, competition, capital, technology adoption, distribution, risk or execution. We focus on changes that founders, investors, financial institutions, regulators and operators may need to act on, not simply what's making headlines. This page is updated throughout the week as material developments emerge, then closed and archived before the next weekly window begins. Missed a prior week's Fintech Whisperer? Browse December 6 to 12, ...
About NCFA Canada | Craig Asano | November 13, 2026 Featured Guest: ROB EIJGENRAAM, Founder, TokenMinds (LinkedIn) Rob Eijgenraam is the Founder of TokenMinds and Creator of TMX, a suite of blockchain and AI technology products. Based in Singapore, Rob helps established businesses outside the crypto industry develop token launches, fundraising strategies and Web3 products, with each project designed around a clear return on investment. An experienced entrepreneur with a background spanning Europe and Asia, Rob founded TokenMinds in 2017 during the early ICO boom. Over nearly a decade, he has navigated major crypto market cycles while expanding the company's capabilities in tokenization, blockchain development and AI-powered financial applications. Rob combines deep entrepreneurial experience with hands-on blockchain and AI execution. Working closely with CEOs, business owners and their advisors, he focuses on finding practical solutions that fit each company's commercial objectives and growth opportunities. About TokenMinds TokenMinds is an award-winning blockchain and AI firm that helps established businesses raise growth capital through token launches without giving up equity. Founded in 2017, TokenMinds has worked with more than 200 companies worldwide, supporting end-to-end solutions for token fundraising through innovative Web3 and AI strategies. Its services span tokenomics, fundraising strategy, investor outreach, blockchain development, token launches ...
Nov 12, 2026 Buying a Canadian money services business starts with identifying what the buyer will acquire: a legal entity, a registration history, contracts, records and possibly an active operation. The value of that package depends on whether it supports the services the new owner intends to provide. A FINTRAC registration entry is an important starting point. It does not establish the company’s financial condition, the quality of its compliance programme or the availability of banking relationships after an acquisition. A payment business may also need a separate assessment under the Retail Payment Activities Act, or RPAA. For investors evaluating a Canadian MSB company for sale, due diligence should connect registration status, actual activities, transaction structure and financial evidence before the parties agree a completion timetable. Verify the Canadian MSB registration and legal entity Begin with the target’s exact legal name, incorporation details, registration number and current status. Match the entity in the corporate documents to the entity in FINTRAC’s Money Services Business Registry. FINTRAC explicitly states that registration does not mean it endorses or licenses a business. It also states that it does not issue licences or certificates of registration. A sales presentation using the phrase “FINTRAC licence” should ...
November 12, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Wealthtech Investing And Trading Strategy still runs a software business, but Bitcoin now dominates its assets and capital raising. MSCI no longer treats that balance as an index eligible operating company. November 11, 2026, MSCI confirmed Strategy’s removal from the MSCI USA and MSCI World indexes after the November 30 close under its new methodology for non operating companies. MSCI is one of the world’s largest index providers, and its benchmarks are followed by funds investing across global equity markets. Japan’s Metaplanet is also being removed from an MSCI index. MSCI has decided that Strategy no longer qualifies for its equity indexes because Bitcoin now dominates its assets and much of its capital raising. Strategy still sells software and reports operating revenue, but MSCI is drawing a line between a business that holds investment assets and one where those assets have become the main financial story. Why Is MSCI Removing Strategy From Its Indexes? MSCI first looked at a rule aimed specifically at digital asset treasury companies. It later dropped that proposal and change it's methodology to cover companies whose finances ...
Nov 12, 2026 Crypto market cap is calculated by multiplying an asset's reference price by its circulating supply. A token priced at $2 with 50 million units circulating has a market cap of $100 million. The calculation estimates the value of that supply at the reference price; it does not total the money investors deposited. To understand a change in the ranking, examine both inputs and the provider's definitions. A larger number can result from price changes, supply changes, or revised reporting. Establish what the two inputs represent The arithmetic is simple, but neither input is self-explanatory. “Price” may be a reference assembled from selected trading pairs and venues, rather than the last transaction on the exchange you use. A provider may exclude observations or convert quote currencies. Two services can publish different estimates because their source selection and methods differ. Circulating supply is an estimate of units treated as available in the market under a provider's rules. It may differ from the number minted, the total recorded by a contract, or the maximum permitted under a protocol's current design. Locked balances, treasury allocations, burns, and scheduled releases require interpretation. A transparent methodology matters because identical arithmetic can still use ...
November 11, 2026 | NCFA Fintech Market Insight | Artificial Intelligence And Data, Capital Markets Infrastructure And Funding, Risk Compliance And Regtech Financial firms are putting AI agents into production well before giving them broad financial authority. That creates time to set identity, permissions and transaction controls before autonomous execution becomes common. On November 11, 2026, Bank of England Financial Policy Committee external member Jonathan Hall used his final FPC speech to examine what happens when AI agents get more authority inside financial firms. A Bank of England and FCA survey of 196 firms found that 80% already deploy AI agents and another 14% plan to within 12 months. Only 2% reported agents with broad autonomy, and none of those were in trading and payments. Finance is adopting agents quickly, but firms are still keeping people and hard limits around the decisions that can change money, positions or customer outcomes. AI Agents Are In Finance But They Are Not Trading Alone The 2026 Bank of England and FCA survey separates four levels of authority: Decision support lets an agent recommend an action while a person decides and executes it. Constrained execution lets the agent act inside preset rules. Conditional autonomy ...
November 10, 2026 | NCFA Fintech Market Insight | Capital Markets Infrastructure And Funding, Entrepreneurs Startups Small Businesses, Equity Crowdfunding And Alternative Funding A small group of large rounds is carrying Canadian venture totals while deal count and growth stage financing remain well below recent norms. On November 10, 2026, the Canadian Venture Capital and Private Equity Association published its Q3 2026 venture capital report. Canadian companies raised $4.3 billion across 397 deals through September, only 1% less capital than a year earlier. But 23 rounds of $50 million or more represented just 6% of disclosed deals and absorbed 58% of all venture capital invested. Deal count has also fallen every year since 2021. The national total is holding up far better than the number of companies getting financed. Six Big Rounds Carried 59% Of Q3 Venture Capital Q3 produced $1.35 billion across 129 deals. Capital was 1% higher than Q2, but deal count fell 15%. Six rounds above $50 million accounted for $793 million, or 59% of the quarter’s capital. That's a decent quarter for the companies that closed those rounds, but a weak quarter for everyone else. Mega rounds above $50 million totalled $2.5 billion across 23 transactions ...
November 11, 2026 | NCFA Story Intelligence | Competition And Market Structure, Wealthtech Investing And Trading, Regulation And Policy Canada is cutting bank fees and switching barriers after years of weak competition, high concentration and poor productivity. On November 7, 2026, the federal government proposed something Canadian investors have complained about for years. Banks would no longer be allowed to charge most investment account transfer fees, which typically cost about $150 per account. Ottawa also wants clearer transfer information and tighter timelines for moving investments to another financial institution. The fee matters because leaving can already be slow and frustrating. Receiving firms often reimburse the outgoing charge to win the account. That means a fee collected by the institution losing the customer can become part of the acquisition cost for the institution trying to win that customer. Canada's six largest banks hold roughly 93% of banking assets. The Competition Bureau was warning about barriers facing fintech competitors in 2017. Ottawa began reviewing open banking in 2018. A federal advisory committee later recommended an operating system by January 2023 and warned that government should not delay. January 2023 came and went. Real Time Rail also slipped years beyond its first expected ...
November 10, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization, Capital Markets Infrastructure And Funding, Regulation And Policy Funds, Collateral And Settlement Lead Canada’s Near Term Tokenization Opportunity On November 10, 2026, the Canadian Securities Administrators published its Project Tokenization Phase 1 findings, setting out where Canadian market participants see the strongest commercial opportunities for tokenization and what regulators plan to test next. The report draws on 233 organizations, 21 bilateral meetings and 80 survey responses, along with workshops attended by 281 people in Calgary and 491 in Toronto. Participants put investment funds, private assets, collateral, treasury and settlement infrastructure ahead of public stocks as the strongest near term opportunities. The report also cuts through one of tokenization’s biggest sales pitches. Blockchain can change how an asset is recorded, transferred or settled, but it doesn't automatically create liquidity, investor demand, broader eligibility or stronger ownership rights. Those outcomes still depend on the product, market, legal structure and infrastructure around it. The CSA now plans to take specific projects into Phase 2 through a 120 day public call for proposals. Firms may be able to use existing regulatory processes, tailored regulatory treatment or bounded testing in a ...
Nov 11, 2026 A positive work environment is key for any team that wants to succeed. Team morale is crucial for productivity, motivation, and job satisfaction. Engaging in activities that lift spirits and strengthen connections can lead to great results. Creating a positive team environment requires creativity, engagement, and some fun. Each activity can strengthen connections, boost motivation, and improve workplace dynamics. When teams focus on strategies to boost morale, they work toward shared success. These activities can lead to lasting memories and help build a stronger team culture. Here are some fun strategies to help improve your team's morale and make the workplace livelier. Fun at the Arcade Visiting an arcade spot is a great way to enjoy time together and build teamwork. Imagine your team facing challenges with various games. Whether it's racing or playing team games, the arcade encourages friendly competition and bonding. These fun experiences can help reduce stress and improve relationships among coworkers. Arcades offer many options to suit diverse interests and skill levels. The lively atmosphere invites everyone to relax and take a break from their daily tasks. Shared laughter and enjoyment can lead to better communication and teamwork when you return to the ...
The Crisis Canada and Fintech Can’t Afford to Waste
Innovation | March 5, 2025
Image: Freepik
Canada’s Fintech Paralysis is A Crisis of Political Will and Competition
The impetus for this article is a recent interview by the Toronto Star with EQ Bank's CEO Andrew Moor. While everyone is busy dealing with the impact and new realities of North American's tariff and trade war, the primary messages in interviews like these cannot be lost, especially during times of economic crisis where Canada needs to be resilient and more competitive.
So what's the problem? Well to restate what's been stated hundreds, if not thousands, of times before, Canada’s financial system always seems to move slower than others, not because Canadians aren't innovative, but because there’s no political will to support real competition.
See: UK Banking Competition Remedies, Lessons for Fintech Growth
After being involved with fintech for over a decade, the above message always seems to reappear, either from a new fintech or investor group or as a result of another crisis or need. The harsh reality is that NCFA and fintech leaders across the country have consistently been pushing for clear, modern innovations and rules that encourage growth and competition in Canada's financial services sector but there are always delays, weak reforms, and policies that protect the big banks at the expense of progress and innovation. Open banking and payments modernization are examples of the day of the real problem. Canada drags its feet on implementing fintech innovations that would benefit consumers and businesses alike. The result is fewer opportunities, slower economic growth, and a financial system that remains behind its peers.
Canada Acts When It Wants to But Delays On Fintech
The argument that Canada is just slow to act on policy decisions isn’t entirely true. When the U.S. proposed and then implemented economically punishing tariffs on most Canadian imports into America, the Canadian government at all levels acted swiftly, implementing its own retaliatory countermeasures in a matter of weeks. Another example is when the Covid-19 pandemic hit, the government launched support programs at an unprecedented pace (even relative to most of its peers).
See: Accelerating Financial Innovation and Access in Canada
So why does fintech reform keep getting delayed? We can only surmise after so many years that the slow pace of fintech reform is about whose interests are being protected, not about government inefficiency (which is also often cited).
Andrew Moor, CEO EQ Bank:
"Prudence in banking is always good, but since 2007 we’ve only cemented the position of the largest banks further. We’ve been talking about open banking in Canada for six or seven years and we seem to be no closer to launching it."
Moor's quote stresses that while stability is important, Canada has gone too far in protecting incumbents instead of encouraging competition. The Big Five banks control over 90% of the market, which leaves consumers with little reason or ability to switch. Other countries have moved forward with regulatory changes but Canada remains paralyzed in research or consultation mode.
Three Examples Showing the Cost of Hesitation
1. Open Banking File
Open banking has been discussed in Canada for over six years and the implementation date keeps getting pushed out longer. At the time of publishing, the federal government announced that open banking will be implemented in 2026, yet there's still no commitment to a firm implementation date.
To be clear, many peer countries like the UK and Australia have adopted open banking frameworks years ago (and are moving towards open finance), allowing consumers to share their financial data with fintech companies. The result is lower fees, better banking products (choice) and real competition.
Andrew Moor CEO EQ Bank:
"We built a railway across the country in four years, and this is just a collection of computer codes and regulations, yet I’m still making the same speeches about open banking that I delivered in 2018. It’s ridiculous, and it’s embarrassing."
Moor’s frustration highlights that Canada’s delay is not due to complexity but the government's failure to prioritize fintech reform. The Canadian government should not wait for customers to demand open banking because they don’t know what they’re missing. That’s part of the problem.
See: BoE Report: Open Banking Boosts Productivity, Competition
- Canadians rarely switch banks because they believe all banks offer the same thing
- All banks offer the same thing because real competition isn’t encouraged
- Real competition doesn’t exist because Canada has yet to implement open banking
This chicken-and-egg problem has locked Canadians into a system where they pay some of the highest banking fees in the world. And who benefits from these delays? The same major banks that dominate Ottawa’s lobbying circles.
2. Payments Modernization - Who Gains from Slow Progress?
It’s not just open banking. Canada’s payments infrastructure has been slow to modernize, leaving businesses and consumers dealing with high costs, delays, and inefficiencies. Even as regulators move forward with aspects of payments modernization, the slow pace of adoption means Canada still lags behind global peers who have been using real-time payment systems for years.
Andrew Moor CEO EQ Bank:
"It’s easier for us to send an EFT to a bank account in India using one of our fintech partners than it is to move money between provinces. Why is that?"
Canada’s Retail Payments Modernization initiative has started allowing companies to sign up for access, but real-time payments which are the foundation of a truly modern financial system are still not fully implemented. The Real-Time Rail (RTR) system was originally scheduled to launch in 2019 but faced multiple delays with Payments Canada most recently announcing that the system's launch would not occur before 2026, with technical builds and testing phases extending through 2025 and into 2026.
Michael Katchen, CEO of Wealthsimple:
"If Canada is serious about innovation, it needs to stop protecting the status quo and start enabling real competition."
Until the government takes control of the agenda and ensures full implementation of real-time payments, innovation in digital transactions and financial infrastructure remains stuck in molasses.
3. Equity Crowdfunding: A Lesson in the Cost of Regulatory Patchwork
Equity crowdfunding had the potential to revolutionize early-stage investing in Canada, allowing startups to raise money from angel and retail investors instead of relying solely on banks or venture capital. But instead of introducing a single national framework, Canada created a fragmented framework with 3 sets of different rules depending on the province, making compliance costly and impractical. By the time regulators finally harmonized the rules, the damage had been done. The industry never had a real chance to succeed at the same level as its peer countries.
See: The Transformative Impact of Instant Payments on Financial Crime Mitigation
This problem (i.e., lack of national strategy, coordination) also appears as Canada looks for solutions to the U.S. imposed tariffs by seeking to increase trade among provinces but hits roadblocks of unnecessary costs and inefficiencies across multiple industries from finance to agriculture to energy (see: Canada's interprovincial trade barriers).
Andrew Moor CEO EQ Bank:
"Hooking up a bit of innovation would be a good thing, and it wouldn’t endanger the nation. There are so many safeguards in our banking system already."
Moor's quote reflects that competition and innovation won’t destroy Canada’s banking system but rather it will strengthen it. This conservative issue seems to go beyond fintech and is a Canadian problem.
Don’t Waste This Crisis
Canada’s economy is under pressure and the tariff and trade war crisis should be used to help Canada push forward on innovation and fintech reforms. Policymakers need to stop consulting and start acting. The financial system should encourage real competition and consumer choice to make markets more resilient, not protect incumbents. Fintech entrepreneurs and investors need transparent progress and cost effective regulations, not shifting policies or a slow no.
Canada needs clear deadlines for open banking, real-time payments, and regulatory harmonization now, not in another three years. If the federal and provincial governments can’t or won’t act, then the private sector must lead. If Canada’s fintech community forms a collaborative working group to build the roadmap, consult where necessary, and take action, progress can happen without waiting for political will to catch up. If the government won’t lead, the private sector must step up or risk wasting yet another economic moment.
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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