August 18, 2026 | NCFA Market Activity | SME Finance And Business Banking, Banking And Credit, Capital Markets And Market Infrastructure
US$100M Macquarie Facility Tests Clearco’s Rebuilt Ecommerce Funding Model
On August 18, 2026, Toronto-based Clearco secured a US$100 million Macquarie asset-backed facility that it expects will support approximately US$900 million in funding to ecommerce brands over the next two years. Macquarie's New York Fixed Income and Currencies team provided the financing.
The facility expands Clearco's capacity to provide qualified brands with up to US$10 million and estimated terms of four to 12 months. Clearco says the funding can support inventory, marketing, major purchase orders and expansion across direct-to-consumer, wholesale, retail, marketplaces and social commerce.
The US$900 million target is a scaling opportunity now, meaning Clearco has to convert institutional funding capacity into sustained customer financing while controlling credit performance and capital costs.
US$100M Facility Sets A US$900M Funding Test
The two headline numbers measure different things. The US$100 million is the size of the Macquarie asset-backed facility. The US$900 million is Clearco's expected customer funding over two years.
That expected funding volume is nine times the facility's headline size. The announcement doesn't disclose the borrowing base, advance rate, asset eligibility, covenants, loss-sharing structure or how much Clearco capital will support customer advances. It also doesn't specify how much of the US$900 million depends on repayment and redeployment of facility capital versus other funding sources.
Those missing terms are important because Clearco's own financing cost and asset performance affect how economically it can fund merchants. More capacity helps only if customer advances generate enough return after financing costs, operating expenses and credit losses.
Clearco has been in a similar position before. Its 2023 recapitalization included a Pollen Street Capital asset-backed facility with up to US$100 million of capacity. Clearco expected that structure to support approximately US$850 million of originations over two years.
That comparison is especially relevant because the earlier reset followed a period when Clearco reduced international operations, tightened underwriting and faced rising capital costs. The new facility arrives after the company has narrowed its operating focus and rebuilt its funding products.
The stated two-year funding target is now US$50 million higher than the 2023 target. It's also not clear whether the Macquarie facility carries a lower funding cost or materially different risk structure than the Pollen Street arrangement.
Clearco Competes On Funding Flexibility And Capital Access
Clearco's current ecommerce financing model gives merchants two choices over funding structure and two ways to deploy the capital. Fixed and Rolling Funding Capacity determine whether a business receives defined one-time capacity or access that replenishes as principal is repaid. Cash Advance deposits funds into the business account, while Invoice Funding supports supplier payments.
That structure gives Clearco several ways to fund inventory, advertising and supplier obligations without requiring a separate product for each use case. Rolling Funding also reduces the need for repeat applications because available capacity replenishes as payments are made.
The competitive market has also developed. Wayflyer provides performance-based ecommerce financing and currently advertises funding up to US$20 million, while Shopify Capital offers embedded merchant financing directly through the Shopify platform.
Those models compete from different business approaches. Wayflyer is another specialist financing provider using merchant performance data. Shopify can originate funding inside the commerce platform where merchants already operate. Clearco's current proposition combines ecommerce specialization, multiple capital structures and external institutional funding capacity.
Clearco reports more than US$3.3 billion provided to over 11,000 businesses historically. That record establishes substantial lifetime deployment, but it doesn't answer how much financing the current version of Clearco is originating or how the rebuilt portfolio is performing.
Originations And Credit Performance Will Test The Rebuild
Clearco's US$900 million expectation implies average customer funding of approximately US$37.5 million per month over two years if volume were evenly distributed. Ecommerce funding won't arrive evenly, but the average provides a useful scale for evaluating future disclosures.
The strongest evidence will be originations, repeat use, facility utilization, repayment performance and credit losses. Pricing and funding costs would show whether additional volume also improves Clearco's economics.
The new facility could also let Clearco serve larger ecommerce operators. The announced maximum of US$10 million places it above the smaller working-capital advances often associated with revenue-based financing and gives the company more capacity for inventory commitments, major purchase orders and multi-channel expansion.
If Clearco approaches the funding target while maintaining credit quality, the company will have stronger evidence that its post-restructuring model can support another period of scale. If utilization or credit performance weakens, the headline facility size will matter much less.
Talking Point
Can Clearco convert its new institutional funding capacity into approximately US$900 million of ecommerce financing while maintaining the credit performance and capital economics needed to make that scale durable?
NCFA Company Intelligence Snapshot
Clearco
Non-dilutive revenue-based funding for U.S. DTC ecommerce brands
Founded
2015 as Clearbanc by Andrew D'Souza and Michele Romanow
Legal Entity
Clear Finance Technology Corporation
Headquarters
Toronto, Canada
Leadership
Andrew Curtis, Chief Executive Officer
Business Model
Non-dilutive revenue-based funding for ecommerce businesses
Core Products
Fixed Funding Capacity, Rolling Funding Capacity, Cash Advance and Invoice Funding
Current Market
U.S.-incorporated DTC ecommerce businesses with a U.S. business bank account
Current Eligibility
6+ months of consistent revenue and more than US$100,000 in monthly revenue
Historic Funding
More than US$3.3B to 11,000+ businesses
Funding Capacity
Up to US$10M for qualified brands with estimated terms of 4 to 12 months
Current Trigger
US$100M Macquarie asset-backed facility announced Aug 18, 2026
Forward Funding Target
Approximately US$900M to ecommerce brands over two years
Milestones
Select a milestone to follow
Clearco's
development
1
Launch
2015
2
Venture Scale
2018–2019
3
Clearco Rebrand
Apr 2021
4
Recapitalization
Oct 2023
5
Product Rebuild
2024–2025
6
Macquarie Facility
Aug 2026
Milestone
1
Clearbanc Launches Its Ecommerce Funding Model (2015)
Andrew D'Souza and Michele Romanow founded Clearbanc in Toronto in 2015. The company developed a data-driven alternative to conventional equity funding for digital businesses.
Company
Clearbanc
Toronto company founded by Andrew D'Souza and Michele Romanow
Stage
Launch
Early non-dilutive financing model for online businesses
Capital
Revenue Based
Funding is tied to business performance rather than founder equity
Markets
Digital Commerce
Online businesses become the initial operating focus
Customers
Founders
Growth-oriented online businesses seeking capital without selling ownership
Competition
Equity And Business Credit
Clearbanc offers another funding route between venture equity and conventional borrowing
Additional Company Data
Clearbanc was founded in Toronto in 2015
Business operating data becomes central to funding decisions
The ecommerce specialization developed into the company's core funding market
NCFA Perspective
Clearco's original operating idea remains visible in the company today. Business data supports funding decisions while founders retain their equity. The products and capital structure change substantially over the following decade.
Milestone
2
Institutional Venture Capital Supports Expansion (2018–2019)
Clearbanc raised institutional venture capital as it expanded the ecommerce funding model and increased the amount of capital available to digital businesses.
Company
Clearbanc
Ecommerce financing becomes the company's defining business
Stage
Venture Scale
Institutional investors support platform expansion
Capital
Series A And B
Equity capital supports company growth while separate funding capacity supports merchant advances
Markets
Ecommerce
Digital merchant financing becomes a repeatable operating category
Customers
Online Businesses
Funding is directed toward measurable growth spending and working capital
Competition
Alternative Growth Capital
Clearbanc competes with equity, bank credit and other working-capital providers
Funding decisions rely increasingly on merchant and ecommerce performance data
Customer activity builds a larger underwriting dataset
NCFA Perspective
The venture-backed expansion proves there is substantial demand for ecommerce growth capital. It also makes Clearbanc increasingly dependent on disciplined underwriting and reliable access to capital for customer advances.
Milestone
3
Clearbanc Becomes Clearco At Nearly US$2B Valuation (Apr 2021)
Clearbanc rebranded as Clearco in April 2021 and announced US$100 million of Series C equity financing plus US$250 million of debt. The transaction valued the company at nearly US$2 billion.
Company
Clearco
Clearbanc adopts the Clearco name
Stage
Rapid Expansion
Product and international ambitions expand
Capital
US$350M
US$100M Series C equity plus US$250M of debt announced
Markets
International
Clearco pursues a wider geographic and product strategy
Customers
Ecommerce Founders
The company expands its founder proposition beyond a single financing product
Competition
Growth Capital Platform
Clearco attempts to compete across funding and additional founder services
Additional Company Data
Oak HC/FT led the US$100M Series C equity round
The April 2021 financing included US$250M of debt
The announced valuation was nearly US$2B
The rebrand accompanied a wider company and product strategy
NCFA Perspective
The 2021 financing marks Clearco's high-growth period. Equity, debt capacity, valuation and operating ambition all increase at the same time. The later contraction shows why a specialty finance company cannot be judged by valuation or lifetime deployments alone.
Milestone
4
Clearco Recapitalizes Around A New Funding Structure (Oct 2023)
Clearco completed a recapitalization in October 2023 that included a US$60 million Series D and a Pollen Street Capital asset-backed facility providing up to US$100 million of financing capacity.
Company
Clearco
The company operates under CEO Andrew Curtis following a difficult period of contraction
Stage
Recapitalization
Capital structure and operating model are reset
Capital
US$60M + US$100M
Series D equity plus asset-backed financing capacity
Markets
Ecommerce Focus
The company concentrates on its core ecommerce financing business
Specialty Finance
Capital cost and underwriting performance become central competitive variables
Additional Company Data
Inovia Capital and Founders Circle Capital led the US$60M Series D
Pollen Street supplied up to US$100M in asset-backed financing capacity
Clearco expected the facility to support US$850M of originations over two years
The transaction was explicitly described as a recapitalization
NCFA Perspective
The 2023 transaction is more important than another venture round because it resets how Clearco finances the business. Dedicated asset-backed capital reconnects customer growth with funding capacity. The operating test becomes whether Clearco can grow without recreating the cost structure that contributed to its earlier contraction.
Milestone
5
Clearco Rebuilds Its Ecommerce Funding Suite (2024–2025)
Clearco expanded its funding products during 2024 and 2025. Rolling Funding launched in 2025 and replenishes available capacity as customers make payments. The company later combined Fixed Funding Capacity, Rolling Funding Capacity, Cash Advance and Invoice Funding into a broader ecommerce funding suite.
Company
Clearco
The company operates with a narrower ecommerce focus and rebuilt product set
Stage
Product Rebuild
Capital products expand after the recapitalization
Capital
Fixed And Rolling
Customers can use one-time capacity or replenishing funding capacity
Markets
U.S. Ecommerce
Current products focus on U.S. ecommerce brands
Customers
Established DTC Brands
Current qualification focuses on businesses with meaningful recurring revenue
Competition
Flexible Working Capital
Funding structure, pricing, capacity, speed and lien requirements become key points of comparison
Additional Company Data
Rolling Funding launched in 2025 and automatically replenishes available capacity as payments are made
Cash Advance sends capital directly to the customer's bank account
Invoice Funding supports supplier and vendor payments
Clearco currently offers both Fixed Funding Capacity and Rolling Funding Capacity
NCFA Perspective
The product rebuild concentrates Clearco on serving more funding needs for the same ecommerce customer. That makes repeat use, credit performance and capital efficiency more important than returning to the wide geographic expansion strategy of 2021.
Milestone
6
Macquarie Adds US$100M Of Asset-Backed Capacity (Aug 2026)
Clearco announced a US$100 million asset-backed financing facility from Macquarie Group on August 18, 2026. Clearco expects the facility to support approximately US$900 million in funding to ecommerce brands over the next two years.
Company
Clearco
Toronto-headquartered ecommerce funding company led by Andrew Curtis
Stage
Funding Expansion
Institutional capital increases customer funding capacity
U.S. Ecommerce
Funding supports brands operating across DTC, wholesale, retail, marketplaces and social commerce
Customers
Up To US$10M
Qualified brands can access funding with estimated terms of four to 12 months
Competition
Institutional Funding Economics
Capital cost and asset performance influence Clearco's ability to price and expand funding
Additional Company Data
Macquarie's New York Fixed Income and Currencies team provided the financing
The new facility provides US$100M of asset-backed financing capacity
Clearco expects it to support approximately US$900M of ecommerce funding over two years
Clearco currently reports more than US$3.3B provided to 11,000+ businesses historically
The US$900M figure is a forward company expectation, not capital already deployed or Clearco revenue
NCFA Perspective
The Macquarie facility gives Clearco another institutional funding base after several years spent rebuilding the business. The next test is measurable. Clearco has to convert that capacity into sustained ecommerce financing while maintaining underwriting discipline and asset performance. The US$900 million target defines the scale of the opportunity, but it does not establish that the volume will be reached.
Clearco Macquarie Funding FAQs
How much financing did Macquarie provide to Clearco?
Macquarie Group provided Clearco with a US$100 million asset-backed financing facility announced on August 18, 2026.
How much ecommerce funding does Clearco expect the facility to support?
Clearco expects the facility to support approximately US$900 million in funding to ecommerce brands over the next two years. That is a company expectation for customer funding, not US$900 million of capital supplied by Macquarie.
How much funding can an ecommerce business get from Clearco?
Clearco says qualified brands can access up to US$10 million, with estimated terms of four to 12 months.
What can Clearco funding be used for?
Clearco says businesses can use its funding for inventory, marketing, large purchase orders and growth across direct-to-consumer, wholesale, retail, marketplaces and social commerce.
Is Clearco's Macquarie facility the same as its 2023 Pollen Street financing?
No. Clearco's 2023 recapitalization included a separate asset-backed facility from Pollen Street Capital with up to US$100 million of capacity. The August 2026 Macquarie transaction is a new US$100 million facility.
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
Brdg organizes project information across developers, cost consultants and lenders. Mortgage Automator brings draw control into the lender's loan system.
Brdg Structures The Information Lenders Need
Brdg isn't a lender. Its software organizes the documents, budgets and project information used to prepare and review construction financing.
The platform accepts documents through email or upload, classifies them and organizes them into a project record. It tracks budgets, project progress and funding information, checks draw readiness across legal, contract, construction and financial categories, and produces lender-ready reports. Brdg provides separate workflows for developers, lenders and cost consultants. Its construction finance platform also shows document ingestion, project dashboards, cash-flow tracking and draw-disbursement readiness.
Brdg reports 30,000+ construction-related documents processed, more than C$300 million in development and active construction, and an average 5.5-day reduction in draw cycle time.
The document volume and reported time savings indicate that Brdg is being used in live construction finance workflows. The C$300 million figure describes development and active construction associated with Brdg's work. It is not revenue, loans originated, financing arranged or assets under management.
Brdg also describes the product as AI-powered and uses labels including Intelligence Agent and Submission Agent. Public evidence supports AI-assisted document and workflow processing. It does not establish autonomous underwriting or credit decisions.
Forum Ventures invested in Brdg, and the company joined its Summer 2026 cohort. Co-founder Ness Cabessa describes Brdg as replacing spreadsheets, email and manual draw processes with a structured construction finance platform.
Mortgage Automator Brings Draw Control Into The Loan File
Mortgage Automator starts from the lender side.
Its Draw Management feature keeps the construction budget inside the same system as the loan. Lenders build budget categories, line items and amounts in Mortgage Automator, then manage planned or ad hoc draw requests against that budget.
The system flags variances and can enforce configurable loan-to-cost limits. Project Health compares work completed with funds already disbursed, giving lenders another way to identify budget drift across active construction loans.
Mortgage Automator says the feature responds to private mortgage lenders, including construction and fix-and-flip lenders that were managing loans in one system while tracking construction budgets in spreadsheets or separate software.
A developer may prepare budgets, invoices and supporting documents. Cost consultants review project costs and progress. Lenders determine whether conditions have been met before additional funds are released.
C$55B CMHC Program Shows The Scale Of Construction Draws
Construction loans release financing in stages because lenders need evidence that work and project costs are progressing before advancing more capital.
That process is visible in Canada's public construction financing system. CMHC's Apartment Construction Loan Program provides loans starting at C$1 million and can finance up to 100% of the residential component's cost for qualifying projects.
The federal program has been expanded to more than C$55 billion in loan funding. Some program streams use monthly construction draws once the loan agreement is in place.
Every draw can bring another set of budgets, invoices, progress information, contracts, approvals and supporting reports into the financing process.
Cost consultants are also part of that control chain. They can review construction progress, costs and supporting documentation before lenders release additional financing.
Construction Finance Workflows Are Moving Into Software
Brdg structures project information before and during lender review. Mortgage Automator keeps budgets and draw controls attached to the active loan.
The next evolution is to carry the same structured project data from developers and cost consultants into lender systems without rebuilding it at each stage.
That would reduce duplicate data entry, make budget changes easier to trace and give lenders a clearer record of what changed between draw requests.
The open question is how the market develops from here. Lenders may prefer draw tools built into their loan systems. Developers and cost consultants may need platforms that work across several lenders. Integrations could eventually connect the two.
Talking Point
Will construction finance software remain split between developer, consultant and lender workflows, or will shared project data eventually connect the full draw process?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
August 17, 2026 | NCFA Market Activity | Capital Markets And Market Infrastructure, Wealth Investing And Trading, Competition And Market Structure
Fund And ETF Accounting Infrastructure Modernization
National Bank is modernizing its fund and ETF accounting infrastructure with Multifonds, bringing work handled across separate systems onto one platform.
The project gives National Bank one accounting environment for more of the valuation, NAV and ETF administration work it performs for firms that offer investment funds and ETFs.
National Bank Brings Fund And ETF Accounting Onto One Platform
National Bank provides fund and ETF administration services that include fund accounting, transfer agency, ETF basket creation, financial statements and tax support.
Multifonds Global Accounting brings fund and ETF accounting into one environment. It processes data in real time and uses exception based workflows so operations teams can focus on records that need review.
The platform includes more than 350 configurable controls across NAV, valuation and distribution work. Multifonds says it supports more than 40,000 funds across 35+ jurisdictions.
National Bank plans to replace siloed systems with the platform. Multifonds expects the change to reduce manual steps, improve oversight and support faster product onboarding.
While those are the expected benefits, the results will depend on how the platform performs once National Bank moves more accounting work into production.
ETF Administration Adds More Operational Work
ETF administration involves more than calculating a fund's value. National Bank also supports transfer agency, market makers and the creation of ETF baskets.
Those processes depend on accounting records and outside data staying aligned. Multifonds connects ETF accounting with more automated data exchange, giving National Bank a common system for more of that work.
Canada's ETF market has grown sharply. Canadian ETFs attracted a record C$122 billion in net inflows in 2025, up 62% from the previous record, and Canadian ETF assets reached about C$790.5 billion by the end of March 2026.
Canada's ETF market has grown sharply. Canadian ETFs attracted a record C$122 billion in net inflows in 2025, while industry assets approached C$800 billion in early 2026.
The market is also under closer regulatory review. The CSA consultation on Canadian ETF rules examines areas including unit creation and redemption, ETF trading, NAV alignment and basket practices.
That growth means more products, valuations, baskets, records and exceptions for administrators to process. Automation can reduce repetitive work, but controls still have to catch problems before incorrect data reaches fund managers, trading partners or investors.
The same operating challenge appears in tokenized fund operations. New ways to issue or transfer fund interests still depend on reliable pricing, accounting, investor records and administration.
CIBC Mellon And RBC Are Automating Asset Servicing
National Bank is investing in a part of the market where other large Canadian asset servicers are also spending on technology.
In April, CIBC Mellon expanded its Appian automation program. Planned improvements include a more digital ETF service and fund administration workflows designed to reduce manual work and improve data visibility. CIBC Mellon reported more than C$3.4 trillion in assets under administration as of March 31, 2026.
RBC Investor Services reported C$3.1 trillion in assets under administration in the second quarter. Its asset servicing technology investments include ETF modernization, automated reconciliations and predictive reporting.
These investments highlight competitive pressure. Fund administrators need to support more products and data without adding manual work at the same rate.
Technology can influence how quickly an administrator launches products, handles exceptions and gives clients access to accurate information.
National Bank is also using specialist technology in other operating areas. Its Sardine fraud controls deployment focuses on fraud and financial crime rather than fund administration, but both projects use specialist technology for high-volume financial operations.
Moving more fund and ETF accounting onto one platform can simplify operations, but it also increases dependence on that platform.
National Bank will need strong data quality, integrations, controls and recovery processes as the implementation expands. If a shared accounting system fails, the adverse impacts can amplify and reach more funds and ETF workflows at once.
Talking Point
As Canadian asset servicers automate more fund and ETF administration, will technology become a bigger factor in which providers win new business?
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
August 17, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Digital Assets, Competition And Market Structure
Shakepay Launches Bitcoin-Backed Line Of Credit In Canada
On August 13, 2026, Montreal-based Shakepay launched its Shakepay bitcoin-backed line of credit, BLOC, for eligible Canadian customers. Borrowers can access up to C$50,000, with rates starting at 9.5% APR, using eligible bitcoin held with Shakepay as collateral.
BLOC is offered by Shakepay Credit Inc., an affiliated entity that received securities law exemptive relief to offer bitcoin-backed credit to eligible customers.
Shakepay retains more of the lending operation inside affiliated entities rather than relying on an outside lender to run the credit product.
BLOC is a revolving line of credit available within Shakepay. Eligible customers can draw against available credit, monitor balances and loan-to-value, make payments and adjust eligible collateral subject to their agreement.
Bitcoin volatility is still paramount. If collateral values fall, borrowers may have to add bitcoin or repay part of the balance. Some or all of the collateral can ultimately be liquidated.
The CSA list of authorized crypto platforms includes Shakepay Inc. as a crypto asset trading platform and Shakepay Credit Inc. separately as a crypto-backed lending platform.
Customers use BLOC through Shakepay, but the loan itself is provided by a separate Shakepay company, Shakepay Credit Inc.
Shakepay Adds More Financial Services Around Crypto
BLOC follows several additions around the same customer relationship.
In July, Shakepay became a direct Interac e-Transfer participant. Customers already had access to e-Transfers, but direct participation gives Shakepay more control over how the service connects to its platform. NCFA's Shakepay Company Intelligence Snapshot tracks its expansion from bitcoin trading into payments, cards and business accounts.
On August 11, Shakepay launched Shakepay savings for cash and bitcoin. Two days later, BLOC added secured credit.
The legal entities and protections differ. Shakepay Inc. operates the regulated crypto platform. Cash savings are offered by Shakepay Financial Inc. Bitcoin savings remain with Shakepay Inc. BLOC is offered by Shakepay Credit Inc.
For customers, those expanding services are part of a common Shakepay experience.
Shakepay says more than 1.5 million Canadians have used the platform. Adding payments, savings and credit gives those customers more reasons to use Shakepay between crypto trades.
Competition therefore extends beyond trading fees and asset listings. Crypto platforms can also compete for payments, balances and borrowing.
Two Crypto Lending Models Are Emerging In Canada
Shakepay Credit and APX show two ways Canadian crypto platforms can add secured lending.
Shakepay and Netcoins take different approaches. Shakepay uses a separate company within its own group to provide the loan. Netcoins keeps the customer relationship, while APX handles the lending behind the scenes.
For customers, the practical questions are simpler. Who is actually lending the money? Where is the bitcoin held? What happens if its value falls? How much does the loan cost?
For the platforms, the choice comes down to control. Shakepay keeps more of the lending business inside its own group. Netcoins relies on a specialist provider.
Talking Point
Will Canada's larger crypto platforms keep more regulated financial functions inside affiliated entities, or will specialist providers become the infrastructure behind multiple consumer brands?
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
Finding the right home improvement specialist is often the defining factor between a stressful renovation and a seamless home upgrade. When it comes to residential remodeling in the National Capital Region, selecting top-tier bathroom contractors Ottawa is essential for ensuring high-quality craftsmanship, compliance with Ontario safety codes, and long-term durability. A bathroom is a complex ecosystem of plumbing, electrical wiring, ventilation, and moisture-proofing—requiring skilled expertise from start to finish.
Among Ottawa's premier residential remodeling specialists, Bath Bloom has established itself as a trusted leader in full-service bathroom transformations. Backed by over two decades of industry experience, Bath Bloom offers homeowners a modern, hassle-free approach to custom remodeling, combining designer aesthetics with licensed trade precision.
Why Choosing the Right Bathroom Contractor in Ottawa Matters
Ottawa homes face extreme weather variations throughout the year, ranging from freezing winter conditions to humid summer heat. These environmental shifts cause natural structural expansion and contraction, making proper moisture management and structural integrity critical during a bathroom remodel. Partnering with experienced, local Ottawa bathroom contractors ensures that every layer of your renovation—from subfloor prep and waterproof membranes to final tiling—is built to withstand local climate demands.
Beyond structural durability, working with qualified contractors provides key advantages:
Ontario Building Code Compliance: Licensed professionals guarantee that all plumbing modifications, electrical routing, and structural alterations meet strict provincial building codes.
Protection Against Water Damage: Proper installation of waterproofing systems, such as kerdi membranes and high-density wall panels, prevents costly hidden leaks and mold growth.
Efficient Project Timelines: Dedicated renovation teams manage logistics, material deliveries, and trade scheduling to complete projects on time without unnecessary delays.
Enhanced Property Equity: A professionally finished bathroom yields one of the highest returns on investment (ROI) for Ottawa homeowners preparing for resale.
Key Services Offered by Bath Bloom
Whether you are updating a compact powder room or designing an expansive master ensuite, Bath Bloom delivers a full spectrum of tailored renovation services across Ottawa, Kanata, Nepean, Barrhaven, and Orléans:
1. Custom Walk-In Shower Installations
Bath Bloom specializes in converting outdated bathtub-shower combinations into open, luxurious walk-in showers. These custom installations often feature frameless glass enclosures, linear drainage systems, built-in storage niches, and thermostatic multi-jet shower towers.
2. Modern Tub-to-Shower Conversions
For homeowners seeking greater accessibility or a sleeker modern look, tub-to-shower conversions offer an immediate upgrade. Bath Bloom utilizes advanced Stone Plastic Composite (SPC) wall panels alongside custom tile work to deliver seamless, grout-free wall surfaces that are effortlessly easy to clean.
3. Complete Bathroom Overhauls
For full-scale remodeling projects, Bath Bloom manages complete tear-outs and layout redesigns. This includes relocating plumbing lines, installing custom vanities with quartz or granite countertops, integrating smart LED lighting, and laying premium porcelain tile flooring.
4. Accessible & Universal Design Solutions
Bath Bloom designs functional, barrier-free spaces for clients looking to age in place safely. Features include low-threshold or curbless shower entries, slip-resistant flooring options, built-in bench seating, and stylishly integrated support hardware.
What Sets Bath Bloom Apart from Other Ottawa Contractors
Selecting a contractor involves comparing craftsmanship, transparency, and client service. Bath Bloom distinguishes itself in the Ottawa market through several core commitments:
20+ Years of Field Experience: With more than two decades in the construction industry, the team brings deep technical mastery to every layout challenge and structural detail.
Turnkey, Single-Source Management: Bath Bloom manages every phase of the project internally—eliminating the need for homeowners to juggle multiple independent plumbers, electricians, or tile setters.
Licensed Tradespeople: All electrical and plumbing work is performed by certified trades, ensuring total safety, compliance, and peace of mind.
Fixed-Price Transparency: Unexpected costs can ruin a renovation experience. Bath Bloom provides clear, itemized fixed-price quotes before work begins, ensuring complete budget clarity.
Comprehensive Warranty Protection: Every project is backed by solid warranty coverage on craftsmanship and structural installations, safeguarding your investment long after completion.
The Bath Bloom 5-Step Renovation Process
To ensure a smooth journey from initial concept to completed space, Bath Bloom follows a proven 5-step project framework:
Free Consultation: Homeowners meet with renovation experts—in-person or virtually—to discuss design preferences, functional goals, and budget considerations.
3D Design & Material Selection: Using 3D visualization tools, clients preview their redesigned bathroom before construction starts, helping them confidently select tiles, fixtures, and finishes.
Detailed Fixed-Price Proposal: A clear contract outlining project scopes, timelines, and exact pricing is agreed upon prior to demolition.
Professional Installation: Experienced tradespeople execute the renovation cleanly and efficiently, protecting surrounding living areas and keeping the job site organized.
Final Quality Inspection: The project concludes with a walkthrough alongside the homeowner to verify that every detail, fixture, and seal meets Bath Bloom’s high-quality standards.
Conclusion: Partnering with Ottawa's Renovation Experts
Investing in a bathroom renovation is one of the most effective ways to elevate your daily living standard while increasing your home’s market value. By hiring experienced, licensed bathroom contractors in Ottawa, you ensure that your project is completed safely, efficiently, and to the highest aesthetic standards.
With over 20 years of experience, transparent fixed pricing, complete 3D design planning, and turnkey project management, Bath Bloom stands out as a premier choice for Ottawa homeowners. To view their project portfolio, explore modern finish options, or request a free consultation, visit bathbloom.ca today.
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
Canada’s gaming sector has changed quickly, and payment technology has become a major part of that evolution. As more regulated online gambling markets develop, operators face growing expectations around security, speed and transparency. The payment process is no longer just about putting money into an account. It has become an essential way for players to feel confident and trust the platform.
For players, safe deposits and reliable withdrawals are becoming increasingly important. In fact, all top online casinos need payment systems that can combine convenience with strong protection. Licensed operators are increasingly using identity verification, encryption, fraud controls, and responsible gambling tools to create safer environments. These measures also include deposit limits, session reminders and self-exclusion options, giving players greater control over how they use gaming services.
Fintech is helping push these developments forward. Digital wallets, instant banking systems and improved verification processes have made deposits and withdrawals much more straightforward. Canadian gaming platforms are increasingly expected to offer near-real-time processing and reliable payouts, which reduces delays and enhances the overall payment experience for players while keeping sensitive financial information protected.
The pressure is particularly noticeable in regulated markets because payment systems have to deal with more than just transaction speed. They also need to support identity checks, fraud screening, anti-money laundering controls and detailed reporting. This creates a demanding environment for payment providers, where transactions need to be processed efficiently without compromising compliance.
Ontario provides a clear example of how regulation can influence this process. After the launch of its regulated iGaming market in April 2022, payment systems became part of a closely controlled digital environment. Operators and their technology partners have had to deal with substantial transaction volumes while maintaining secure authorisation, verification and reporting processes.
This is where fintech innovation becomes particularly interesting. Payment gateways and processors have increasingly had to become more sophisticated, with encryption, tokenisation, automated fraud detection and continuous monitoring becoming important elements of the infrastructure. The aim is to make security work quietly in the background while allowing legitimate transactions to move quickly, inspiring confidence in the future of gaming payments.
The impact can extend beyond gaming, too. Technologies developed under the pressure of regulated gambling can have wider applications across fintech. Real-time authorisation, automated risk scoring, wallet integration and secure handling of sensitive information are all relevant to other digital businesses that need to balance convenience with protection.
Reputable gaming comparison and news platforms reflect this changing environment by focusing on licensed Canadian operators, compliant payment methods and clearer information for players. The wider trend is towards greater transparency, with consumers increasingly able to assess how platforms handle payments and what safeguards are available.
Ultimately, regulation is reshaping payments in Canadian gaming. Safety, compliance and convenience now have to work together rather than being treated as separate concerns. As technology continues to advance, payment systems will need to keep adapting. Still, the direction is clear: stronger infrastructure, better protection, and greater player confidence are becoming central to the future of regulated iGaming in Canada.
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
Aug 8, 2026 | NCFA Fintech Whisperer | Digital Banking And BaaS, Regulation And Policy, SME Finance And Business Banking, Digital Assets Blockchain And Tokenization, Payments Infrastructure And Money Movement, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Wealthtech Investing And Trading, Embedded Finance, Risk Compliance And Regtech, Lending Consumer Credit And BNPL, Cybersecurity Fraud And Financial Crime
Gate, which Alpaca says serves more than 58 million users, launched access to more than 10,000 U.S. listed stocks and ETFs, eligible IPO allocations and tokenized stocks using Alpaca infrastructure.
Alpaca provides the brokerage infrastructure behind the offering and supports custody and settlement of the underlying shares associated with Gate's gStocks tokenized stock product.
One day earlier, Crypto.com launched Tokenized Stocks through Alpaca for a platform serving more than 150 million customers, offering economic exposure to 1,500 U.S. stocks and ETFs from US$1, with selected products available around the clock.
Crypto.com's products are derivative financial instruments that provide economic exposure rather than ownership of the underlying shares or associated shareholder rights.
Large crypto platforms are starting to look more like multi asset investment distributors, but the infrastructure underneath them is still regulated brokerage, custody and settlement. Alpaca has been building specifically for this role, which NCFA recently examined in its global brokerage platform expansion. The competitive question is who controls that regulated layer as crypto, traditional securities and tokenized products converge inside the same customer interface.
BlackRock Canada launched the iShares Equity + Bitcoin ETF Portfolio, or IBQT, on the Toronto Stock Exchange with a strategic allocation of approximately 97% global equities and 3% bitcoin.
The fund carries a 0.22% management fee and packages Canadian, U.S., international and emerging market equities with bitcoin exposure inside one portfolio.
IBQT currently gets its bitcoin exposure through BlackRock’s Canadian IBIT fund, extending that product from a standalone bitcoin investment into a component of a diversified portfolio.
IBQT changes where the crypto allocation decision happens. Investors choosing the fund are buying a diversified equity portfolio with bitcoin already assigned a modest strategic weight, rather than adding crypto separately. That puts bitcoin closer to conventional portfolio construction and gives Canadian advisers and investors a simple way to combine traditional markets and digital assets in one listed product.
Flywire expanded its Trustly partnership into Canada and the United States, letting payers authorize large domestic and cross border payments directly from their bank accounts.
In Canada, the payment itself runs through Pre Authorized Debit. Trustly adds bank authentication and account connectivity around that existing rail rather than using Canada’s future regulated payment initiation framework.
The service removes manual account entry during checkout and adds payment verification and risk controls around higher value bank transfers.
Pay by Bank is reaching Canadian customers before regulated payment initiation does. Foreign providers are improving the experience around an existing Canadian bank rail instead of waiting for new infrastructure. That makes the commercial timing important for Canada’s open banking opportunity: future regulated access will enter a market where some of the customer experience is already being built.
Toronto based Dream Payments launched Dream Payouts for eligible U.S. businesses in collaboration with J.P. Morgan Payments, supporting payments to suppliers, partners and individuals.
Eligible payments can arrive through the RTP network in under 30 seconds, including nights, weekends and holidays, with ACH and wire available when instant delivery is unavailable or not selected.
Software platforms can embed payout capabilities, while Dream provides recipient onboarding, identity checks, banking verification, approval controls and transaction tracking from initiation through settlement.
Dream says the infrastructure can support software and AI agents that initiate, approve and reconcile payments within defined business controls.
Dream is taking infrastructure built by a Canadian fintech into U.S. business payment workflows where the payment can start inside the software that created the obligation. That also gives agent payment infrastructure a more concrete operating model: software can participate in the workflow, but identity, authority, approval and settlement controls still determine whether money moves.
Francisco Partners agreed to acquire Moneris from RBC and BMO for approximately C$2.0 billion in cash, with each bank receiving half of the proceeds. The transaction remains subject to regulatory approvals and other closing conditions.
RBC and BMO will keep exclusive referral relationships with Moneris even as ownership of the payments company transfers to Francisco Partners.
Moneris says it has nearly 2,000 employees in Canada and will retain its Canadian headquarters and technology infrastructure after the transaction closes.
Last year’s Moneris sale discussion has become a signed change of control. RBC and BMO are giving up ownership while preserving customer distribution, leaving Francisco Partners to decide how aggressively Moneris invests across merchant acquiring, commerce software and payments technology. The separation between infrastructure ownership and bank distribution is the more consequential part of the deal.
CIMPA and CDS will begin the first stage of Canada's fail fee framework for Government of Canada bond and T-bill transactions on September 8, 2026.
The trial will run for at least 18 months. Settlement fails and indicative fees will be calculated, statistics will be published and CDS participants will receive reports and indicative invoices.
No fail fees will be charged or paid during this first stage. The Canadian Fixed-Income Forum will decide whether payments are activated later.
Canada is putting a settlement discipline framework into live measurement before imposing a financial penalty. That gives dealers, custodians and market infrastructure providers time to see where fails occur, what the operational burden looks like and whether the fee design changes settlement behaviour. The evidence from the trial will determine whether a reporting framework eventually becomes an economic incentive.
CIMPA, TMX Group and Clearstream have started repo trading using a standardized Government of Canada General Collateral basket on the Canadian Collateral Management Service.
CCMS automates repo collateral management and supports unlimited real time collateral substitution, giving participants another way to manage liquidity and collateral throughout a transaction.
The first GoC basket is expected to be followed by standardized baskets covering provincial securities, Canada Mortgage Bonds, NHA mortgage backed securities, public sector securities and corporate collateral.
Canada's repo market now has a standardized collateral workflow running on infrastructure that the Bank of Canada also plans to use for its domestic repo operations. Wider adoption would make collateral easier to allocate and substitute across financing activity while reducing manual processing. The next evidence is usage: how much repo activity migrates onto CCMS and whether the additional baskets deepen participation beyond Government of Canada securities.
PointsKash announced an expanded strategic capital commitment of up to US$100 million from Hawk Capital Advisors to support commercialization and national deployment of its financial services platform.
The first phase provides for up to US$35 million through October 30, 2026 for priorities including refurbishment and deployment of approximately 2,100 company owned KashPoint kiosks, technology integration, merchant activation, PK Pay development and working capital.
A second phase could provide up to another US$65 million between February and April 2027, subject to operating and deployment milestones, customary closing conditions and financing availability.
The financing connects capital directly to deployment of a physical and digital financial services network rather than funding an undefined expansion plan. PointsKash acquired more than 2,100 cryptocurrency kiosks earlier in August and now has a staged capital structure intended to refurbish and redeploy that hardware while building payments, merchant and mobile services around it. The conditional structure also keeps a clear line between near term funding and the larger amount that depends on execution.
CIRO now requires a Participant or Access Person to have a reasonable expectation that a short sale can settle on the intended settlement date before entering the order.
The rule adds a positive control before execution instead of relying only on action after a trade fails to settle.
CIRO provides defined exceptions, including certain sales involving securities a person is deemed to own, subject to prescribed delivery conditions.
The rule changes where settlement risk has to be dealt with. Firms must support the expectation of settlement before a short sale reaches the market, putting more responsibility on trading controls, securities availability and supervision. Difficult to borrow securities and repeated settlement failures will show how demanding the requirement becomes in practice.
Reserve Bank of India Governor Sanjay Malhotra told banks to maintain inventories of material AI systems and establish governance that assigns clear responsibility for their use and risks.
He called for contracts with AI providers to preserve audit, explanation and exit rights, while material systems should be stress tested and tested against adversarial behaviour before deployment and periodically afterward.
Banks should retain meaningful human oversight where an AI error could materially harm a customer or financial stability, including lending, fraud and other consequential decisions.
RBI is pushing AI governance into the same operating disciplines banks already use for material risk. That aligns with Canadian work on regulated AI, where model oversight, vendor access, fallback plans and proof of control are becoming practical requirements. The advantage will come from deploying useful AI while being able to show who owns the risk and how the system is controlled.
Brazil’s central bank is assessing bilateral connections between Pix and foreign instant-payment systems, as well as participation in multilateral payment hubs, to support lower-cost and faster cross-border transfers.
The work goes beyond earlier discussion of possible international expansion. Banco Central do Brasil had already placed Pix Internacional on its 2027+ development agenda in March, and the August update points to more concrete interoperability options.
Pix processed nearly 80 billion transactions worth more than R$35 trillion in 2025, giving any international connection potential scale well beyond a niche cross-border payment product.
Pix is starting to test whether a national instant-payment rail can connect directly into foreign payment infrastructure rather than relying only on traditional correspondent channels. NCFA’s cross border payments benchmark shows why that distinction matters: strong domestic rails don’t automatically solve international cost, speed or interoperability. The practical questions are which systems Brazil connects to first, how FX, compliance and settlement are handled across jurisdictions, and whether this becomes a repeatable model for other domestic real time rails.
The OCC granted preliminary conditional approval for World Liberty Trust Company, National Association, the proposed national trust bank of Trump family backed World Liberty Financial.
The approved business plan covers USD1 issuance and redemption, maintenance of USD1 reserve assets, fiduciary digital asset custody and limited conversion services for custody customers.
The approval is not authority to begin operations. The proposed bank is limited to trust company activities, does not plan to become an FDIC insured depository institution and must satisfy remaining OCC conditions before commencing business.
USD1 could move from a stablecoin structure supported by external service providers into a federally supervised trust bank that combines issuance, redemption, reserves and custody. That would bring more of the operating stack behind a payment stablecoin inside one regulated entity, while concentrating responsibility for reserve management, safeguarding and compliance.
Deribit FZE received a Broker Dealer Licence from Dubai's Virtual Assets Regulatory Authority, expanding the permissions behind its existing regulated spot trading operation.
Spot buy, sell and trade orders placed on Deribit can now be routed to Coinbase Exchange for execution, giving clients access to deeper liquidity and hundreds of additional assets.
The upgraded spot service is rolling out to retail, qualified and institutional investors. Assets acquired through it can also be used as collateral for Deribit derivatives trading, subject to regulatory approval.
The Coinbase acquisition is moving from ownership into shared market infrastructure. Deribit can keep its derivatives interface while drawing on Coinbase's spot liquidity and execution stack, extending the Deribit acquisition strategy into day to day trading. That brings spot execution, collateral and derivatives closer together inside one regulated operating structure.
PM MTF Ltd received CySEC authorization under MiCA for crypto asset services alongside its existing regulated European trading venue.
The authorized activities include operating a crypto asset trading platform, custody and administration, execution of orders, reception and transmission of orders, and crypto asset transfers.
The authorization provides a regulated route for Perpetual Markets to extend crypto services across the EEA, including infrastructure that can support institutional and white label distribution.
The significance is the combination of existing regulated market infrastructure with newly authorized crypto services. Rather than building a separate crypto venue, Perpetual Markets can extend an established MTF operating model into digital assets, giving brokers and institutions another route to offer crypto products under a European regulatory framework. The announcement authorizes expansion, but does not establish that every permitted crypto service is already live at scale.
Hong Kong licensed issuer Anchorpoint began phase one of HKD At Par, or HKDAP, through Beta Access for institutional distributors and professional investors.
Authorized distributors can provide conversion between HKDAP and fiat currency for institutions, corporate users and professional investors while integrating the stablecoin into commercial and financial applications.
Anchorpoint is initially targeting cross border payments and settlement and distribution of tokenized real world assets. Broader retail access could begin as early as the end of 2026, depending on market conditions.
Hong Kong's stablecoin regime has crossed from licensing into controlled distribution and commercial use. That builds on the tokenized finance strategy NCFA has been tracking through Standard Chartered and Hong Kong's regulators. HKDAP now has to prove that regulated tokenized money can attract repeat transaction flow across payments, asset settlement and institutional distribution rather than remain a licensed product with limited circulation.
Coinbase received Financial Services Permission from the Financial Services Regulatory Authority of ADGM to arrange investment deals and provide custody in support of tokenized securities.
Coinbase says securities issued through the structure will be backed by underlying shares, with verified token holders receiving shareholder rights including dividends and voting.
Transfers will be subject to ongoing sanctions screening, with wallet level freeze and seizure capabilities where required.
The important distinction is the legal and operating structure behind the token. Coinbase is combining regulated custody, underlying shares, investor rights and blockchain transferability rather than offering price exposure alone. That puts the model inside the infrastructure test NCFA is tracking for regulated tokenized assets: whether ownership rights, custody, compliance and transfer can work together at market scale.
Robinhood has begun rolling crypto trading out to eligible UK customers, adding more than 50 digital assets directly inside its main investing app alongside equities, ISAs, options and futures.
Crypto trading is provided through Bitstamp UK Ltd, bringing the regulated UK infrastructure Robinhood acquired with Bitstamp into Robinhood’s retail distribution channel. Robinhood completed the acquisition in June 2025 to accelerate its crypto expansion outside the U.S.
The rollout is a material follow-on to Robinhood’s July 1 announcement, when the company said UK crypto trading was coming soon but had not yet launched it. Robinhood’s own disclosure at the time still said its UK entity did not offer crypto trading or custody.
The launch also adds Cortex Digests for Crypto, using generative AI to combine news, market data, technical indicators and Robinhood information into asset-level market summaries.
Bitstamp is becoming more than an acquired exchange for Robinhood. Its UK crypto infrastructure now lets Robinhood add digital assets to the same interface where customers already invest across traditional markets. The next test is whether that combination deepens customer activity and gives Robinhood a repeatable way to extend its wider investment platform into regulated crypto markets.
Revolut announced phased testing of EURR on Ethereum for eligible customers in Denmark, Poland and Portugal beginning in August.
EURR is a euro-pegged e-money token issued by Bridge Building S.A., a Stripe company regulated by Luxembourg’s CSSF as a MiCA crypto-asset service provider and electronic money institution.
Eligible customers can use EURR across supported crypto services, external wallets and blockchain networks. Revolut expects to add more markets later in 2026 and says stablecoins tied to other currencies are in development through separate regulatory processes.
Bridge provides the regulated issuance while Revolut distributes EURR through its customer app. NCFA tracked Bridge’s European authorizations in July. The immediate evidence is limited to phased testing in three markets, and Revolut has not published EURR circulation, adoption or transaction-volume data.
Shakepay launched BLOC, a revolving line of credit that lets eligible Canadian customers borrow against bitcoin held with Shakepay without selling it.
Customers can borrow up to C$50,000 starting at 9.5% APR and track their balance, payments, collateral and loan to value ratio inside the Shakepay app.
BLOC is offered by Shakepay Credit Inc. under exemptive relief. If collateral values fall, borrowers may need to add bitcoin, repay part of the balance or face liquidation under the product terms.
Crypto backed lending is becoming part of the product stack offered by Canadian trading platforms. Shakepay is integrating the credit relationship directly into its own account experience, while embedded crypto lending at Netcoins uses APX to supply the lending operation behind the interface. The two models create different economics and different responsibility for underwriting, collateral controls and servicing.
Better and Coinbase opened their token-backed conforming mortgage to eligible Coinbase One members on August 12, according to an August 26 company announcement.
Better originates and services the mortgage, Coinbase powers the digital-asset component and the first lien is designed to meet Fannie Mae guidelines.
Approved borrowers can pledge crypto without selling it. Eligible Coinbase One members can receive a lender-funded closing credit equal to 1% of the mortgage value, capped at US$10,000.
The earlier waitlist represented more than US$260 million in projected loan volume. That figure indicates demand, not funded mortgages.
General availability converts the earlier token-backed mortgage launch into an open lending product. Funded volume, borrower performance, collateral custody and the treatment of pledged assets during delinquency will show whether the model can operate at conforming-mortgage scale.
Toronto based Mortgage Automator launched Draw Management, bringing construction budgets, draw schedules and approvals directly into the active loan file for private lenders.
The feature automatically flags budget variances and applies Project Health scoring so lenders can monitor construction progress and draw risk without relying on separate spreadsheets or disconnected workflows.
The launch follows Mortgage Automator's August 4 acquisition of Lendr, extending its expansion into construction and private lending infrastructure across North America.
Construction lending is operationally intensive because capital is released in stages and each draw depends on current budget, progress and compliance information. Moving those controls into the loan system can reduce reconciliation work and make exceptions visible earlier, while giving private lenders a more integrated way to manage construction credit as portfolios scale.
TD launched an in-app payroll direct-deposit switching experience that lets customers redirect payroll deposits to a TD account in about one minute with most employers.
The capability is powered by Atomic and sits inside the TD app, removing the need for customers to separately obtain banking details and update payroll information through their employer.
TD says it is the first Canadian financial institution to offer a fully integrated in-app payroll switching experience and has exclusive Canadian rights to Atomic’s capability through the end of 2026.
Opening a new bank account is easier than making it the primary account. Payroll switching reduces the work required to redirect recurring income and adds an operational layer to open banking and financial portability. Competition improves when customers can act on a better banking option, not only compare one. The next measure is whether easier switching translates into more primary-account relationships and deposits.
Revolut Bank S.A. received a full French banking licence following a joint assessment by France’s ACPR and the European Central Bank, with the decision formally adopted by the ECB Governing Council.
The new French bank will begin serving customers in France before progressively expanding across Germany, Ireland, Italy, Portugal and Spain. Revolut Bank UAB in Lithuania remains the group’s other European banking hub.
Revolut says Western Europe now accounts for about 30 million customers. It has committed more than €1 billion to the region and is hiring more than 600 people across its Western European markets.
The licence turns Revolut’s banking expansion into a two-hub European structure with a new regulated entity serving its largest regional customer base. The execution test is how quickly customers and products migrate to the French bank, and whether local licences give Revolut more room to deepen lending, business banking and other regulated services across Western Europe.
The CFTC exercised emergency authority after Kalshi notified the Commission of a market emergency tied to litigation brought by New York Attorney General Letitia James.
The Commission ordered Kalshi to continue operating in accordance with the Commodity Exchange Act Core Principles. New York is seeking to stop Kalshi from offering event contracts nationwide and is pursuing more than US$36 billion in damages.
The CFTC says federal law requires a uniform national derivatives market and has challenged state efforts to apply gambling laws to federally regulated designated contract markets in several jurisdictions.
The dispute is becoming a direct test of who controls access to event contracts in the United States. The CFTC is treating Kalshi as national derivatives infrastructure while states continue to challenge parts of the market through gaming law. NCFA’s regulated event contract infrastructure brief tracks the same boundary between exchange regulation, market integrity and product access.
ClearScore, Modulr, Teya, Urban Jungle and Zilch became the first firms regulated solely by the FCA to join its Scale-up Unit.
The unit gives fast-growing regulated firms a dedicated regulatory contact for product launches, permission changes, policy developments and other issues that arise as they expand.
The FCA also published findings from a 15-firm high-growth pilot, including weaknesses where governance, board oversight, risk management and controls had not kept pace with business growth.
The FCA is making regulatory engagement part of the scale up process rather than waiting for rapid growth to create supervisory problems. NCFA’s closer look at the five firms shows how that support intersects with payments, credit, insurance and European expansion. For fintechs, the tradeoff is clearer: faster access to regulatory guidance comes with closer attention to whether governance, controls and customer protections are developing at the same rate as products, customers and market expansion.
Senate leadership filed cloture on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, after the chamber left for its August recess without voting on the bill.
The Senate schedule says the cloture motion will ripen on September 15 at 2:15 p.m., creating a formal procedural route toward floor consideration when senators return.
The bill still faces a 60-vote threshold and unresolved negotiations, including bank concerns over stablecoin rewards and proposed ethics provisions.
The CLARITY Act has moved from an uncertain post-recess commitment to a scheduled Senate procedure. The September vote will test whether negotiators can assemble enough support to advance a federal market-structure framework and narrow the remaining disagreements over banking, stablecoins and digital-asset oversight.
Mercury launched Mercury Spend with budgets, expense policies and company cards managed through one spending system.
Businesses can issue dedicated cards to AI agents for approved transactions and monitor their spending separately from employee activity.
Budgets and expense policies provide the control layer around those cards, while Mercury can automatically categorize transactions and lock cards when required tasks remain overdue.
The important change is that an AI agent can now receive its own controlled payment credential rather than only prepare a transaction for someone else. That makes permission design part of the payment product. NCFA has already tracked how AI agents use card rails; Mercury brings the same question inside company spending, where budgets and policy controls define how much authority software actually receives.
SIDBI and MonetaGo confirmed that Secure Financing is live on SIDBI’s GST-Sahay invoice-based financing platform following a pilot and three months of production use.
The system validates invoices financed through India’s TReDS infrastructure and checks invoices across participating factoring platforms and lenders, including SBI Global Factors and India Factoring.
The production milestone follows the November 2025 SIDBI-MonetaGo partnership. The system is designed to identify duplicate financing and strengthen invoice validation before credit is advanced to MSMEs.
Invoice financing fraud controls are becoming shared lending infrastructure rather than checks performed inside one lender at a time. MonetaGo has been working on shared trade finance fraud controls for years; the SIDBI deployment brings that model into live MSME lending. The test is whether interoperable validation reduces duplicate financing and exceptions at scale while making cash flow credit faster and safer across multiple lenders and factoring platforms.
De Nederlandsche Bank granted Mews Financial Services B.V. an Electronic Money Institution licence, giving the hospitality software company regulated financial standing across the EEA.
Mews plans to bring payment services, financial workflows and hotel operating data into the same platform, alongside safeguarding, fraud monitoring, sanctions screening and anti money laundering controls.
The company processed US$19.7 billion in hotel transaction value in 2025. Regulated capabilities are expected to begin with a Netherlands pilot in late 2026 before expanding across the EEA.
Mews is taking embedded finance beyond connecting hotels to outside financial providers. Its own regulated entity can now sit inside the software where hotel revenue, operations and payments already meet. That changes the regulatory boundary for embedded finance: vertical software can become part of the licensed financial infrastructure instead of remaining only the distribution layer.
TransFi launched JARVIS, a proprietary compliance intelligence platform that combines KYC and sanctions screening, internet profiling, behavioural and biometric signals, and fiat and blockchain transaction monitoring.
JARVIS builds risk profiles, uses heuristics and AI research to recommend actions on high confidence matches, and escalates complex or ambiguous cases for human review.
Final KYC, KYB, transaction monitoring and screening decisions remain with TransFi's compliance team under MLRO oversight.
AI is entering compliance as an investigation and decision support layer rather than replacing accountable human approval. That model fits the emerging market for AI powered compliance workflows where evidence, escalation, auditability and human control determine whether automation can be trusted. TransFi's operating test is whether JARVIS reduces review effort across multiple jurisdictions without weakening decision quality.
Trezor disclosed that a breach at shipping provider ShipMonk exposed customer information including names, email addresses, phone numbers and shipping addresses.
Approximately 11,742 customers had full contact and shipping information exposed, while another 1,947 had partial exposure, bringing the affected total to about 13,689 customers.
Trezor says its own systems, devices and services were not compromised. The company warns that the exposed information could instead be used for more sophisticated phishing and impersonation attempts.
The breach shows how self custody can inherit risk from suppliers that never touch a private key. Fulfilment providers still hold enough identity and location data to expose hardware wallet owners to targeted attacks, making vendor controls and data retention part of hardware wallet security rather than a separate privacy issue.
Weekly Close
Financial infrastructure is becoming easier to enter and harder to operate well. Bank switching is getting simpler, payments are becoming programmable, AI agents are gaining spending authority and software platforms are taking on regulated financial roles. At the same time, regulators are putting more weight on governance, settlement discipline, market access and accountability. The competitive advantage is moving toward firms that can combine better distribution with stronger control of the infrastructure underneath it.
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
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. 
