Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Leadership, Competition, Human Capital, Health
Luxembourg Bitcoin Fund Enters Eurozone History
Crypto | Oct 10, 2025
Image: Freepik
Luxembourg Becomes the First Eurozone Wealth Fund to Add Bitcoin to Its Portfolio via Regulated ETFs
On October 9, 2025, Luxembourg’s Finance Minister Gilles Roth confirmed that the Luxembourg's Intergenerational Sovereign Wealth Fund (FSIL) will invest 1% of its portfolio in Bitcoin ETFs. Symbolic and strategic, this is the first time a Eurozone state wealth fund has officially allocated capital to Bitcoin. According to a June 2025 FSIL report, the fund is valued around €764 million (US$887 million) and will allocate roughly €7–9 million to Bitcoin exposure through exchange traded funds as part of the 2026 national budget plan.
How a 1% Allocation Could Redefine Eurozone Digital Finance
The FSIL was created in 2014 to preserve national wealth for future generations and currently maintains a conservative allocation of 53% in government bonds and 46% in equities. A 2025 amendment to its framework allowed up to 15% in alternative assets including crypto.
Treasury Director Bob Kieffer said, “To avoid operational risks, the exposure to Bitcoin has been taken through regulated ETF products,” a compliant structure that's transparency while reducing custody risk. He described the 1% allocation as a balance between innovation and prudence. The move supports Luxembourg’s goal to position itself as a European hub for digital finance under the EU’s Markets in Crypto Assets (MiCA) framework, a key policy area for fintech competitiveness. In 2022, the BIS advised banks to limit Bitcoin exposure at 1% of reserves.
See: Crypto Finance Finding Scale and Clarity in 2025
Luxembourg’s decision sets it apart from other Eurozone nations. While European central banks have avoided holding Bitcoin directly, smaller countries like Georgia and non EU members such as Bhutan have included Bitcoin in sovereign portfolios. Norway’s $1.9 trillion wealth fund holds indirect exposure through public companies, and the United States recently allowed seized Bitcoin into the federal strategic reserve. Luxembourg’s ETF approach is a practical signal for governments seeking regulated crypto exposure.
Bitcoin ETFs worldwide now manage over US$164.79 billion (about 7% of total Bitcoin market capitalization) as a result of growing institutional participation through regulated products.
Why This Matters
Luxembourg’s ETF investment is aligned with its reputation for financial innovation and prudent governance. For crypto stakeholders, it's validation that Bitcoin can be treated as an investable reserve asset under regulatory supervision. This precedent could influence policy approaches across Europe as sovereign funds explore digital diversification within ESG and MiCA frameworks.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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What Tax Smart Investing Can Teach Canadians About Building Real Wealth
Oct 9, 2025
Image: Freepik
When most people think about investing, they picture stock tickers, market swings, and the rush of watching their portfolio rise and fall. What rarely gets the spotlight is the quiet factor that can make or break a lifetime of financial growth: taxes. In Canada, where the tax landscape is as complex as the investments themselves, learning to think tax smart is not just an advanced strategy. It is the difference between chasing returns and actually building real, lasting wealth.
According to the Canada Revenue Agency’s Overall Federal Tax Gap Report, billions of dollars in tax revenue go uncollected every year due to underreporting or noncompliance. For individual investors, this underscores a broader reality: missed opportunities and poor tax planning can quietly erode wealth over time.
At the same time, emerging wealth technology platforms and independent advisory models are pushing tax efficiency into mainstream conversation. Together, these trends show why tax smart investing is no longer niche. It is becoming the foundation for building wealth in Canada’s evolving financial system.
Why Chasing Returns Alone Doesn’t Build Wealth
It is tempting to believe that a few big wins on the stock market will set you up for life. But the truth is, gross returns do not equal net gains. Without careful tax planning, a healthy looking portfolio can lose value year after year.
Capital gains, dividends, and interest income are all taxed differently. The problem is, most investors do not think about this until tax season, when it is too late to adjust. A dollar earned in one type of investment may be worth far less than a dollar earned somewhere else once taxes are factored in. Wealthy Canadians and institutions have known this for decades. The rest of us are just starting to catch up.
Taxes Are the Silent Partner in Every Investment
Think of taxes as a silent partner. They take a cut whether you like it or not. The real skill is learning how to minimize their share while still growing your wealth responsibly. That means more than stuffing money into RRSPs or TFSAs, although those matter. It is about positioning investments where they make the most sense from a tax perspective.
For example, interest income is heavily taxed, while capital gains and Canadian dividends are more efficient. Holding bonds inside registered accounts, while keeping eligible dividends outside, can help maximize what you keep. The best investors do not just diversify across asset classes. They diversify across tax treatments.
Investors who want a clear explanation of registered versus non-registered accounts can turn to the Financial Consumer Agency of Canada’s savings and investment products guide.
Wealth Is Not About What You Earn, It Is About What You Keep
Two investors could earn the exact same return, but the one with the smarter tax strategy will always come out ahead. Over decades, those differences compound dramatically.
Take a simple case: an investor who earns an annual return of 6 percent but loses 1.5 percent to taxes every year is not really earning 6 percent at all. Compare that to someone earning the same 6 percent but only losing 0.5 percent to taxes. Over 25 years, the second investor ends up with significantly more wealth, not because of higher risk taking, but because of lower tax drag. That is the quiet power of tax smart investing.
The Ontario Securities Commission’s GetSmarterAboutMoney resource includes calculators and tools that illustrate how taxes impact long term investing.
Canadian Families Are Looking Beyond Basic Financial Advice
More Canadians are realizing that off the shelf investment products do not cut it anymore. They are looking for advisors who can manage not just portfolios, but the bigger picture: how wealth is preserved, passed on, and optimized for the next generation.
Firms such as Tacita Capital represent this shift. As a Canadian family office, they are fully independent and privately owned, offering authentic multi-family office experience supported by an active founding family. With open architecture, they are not tied to proprietary products or restricted fund menus, which allows for greater flexibility and alignment with client needs. Most importantly, they prioritize after tax returns, focusing on tax conscious investing as the foundation for lasting wealth. For families who want to keep more of their wealth in their own hands rather than handing it over to taxes, this approach is becoming essential.
Innovation and FinTech Are Changing the Game
The rise of WealthTech platforms in Canada is making tax smart strategies more accessible. Digital platforms now offer automated tax loss harvesting, personalized portfolio allocation, and even AI driven insights that can optimize for after tax returns in real time.
This is not just about convenience. It is about democratization. What was once the exclusive domain of high net worth families is slowly becoming available to everyday investors. With the right platforms, even small portfolios can be managed with the kind of tax efficiency once reserved for those with entire teams of advisors.
For further reading, see the Bank of Canada’s PIVOT Program initiative, which collaborates with innovators in fintech and AI to explore new tools and technology in Canada’s financial system.
Alternative Investments Deserve a Second Look
Tax smart investing does not end with stocks and bonds. Alternative assets, such as real estate, private equity, infrastructure, and even impact investments, are playing a growing role in Canadian portfolios. Many of these vehicles come with unique tax considerations, some favorable, others complex.
What makes them powerful is how they can diversify both returns and tax exposure. For example, real estate investment structures can offer depreciation benefits, while private equity gains may be deferred or taxed differently than public market income. The challenge is access and expertise, knowing when these investments make sense, and how to structure them correctly.
Building Wealth Is About Legacy, Not Just Lifestyle
The ultimate goal of tax smart investing is not simply to boost returns. It is about building a financial legacy that outlasts the investor. For Canadian families, this often means thinking about succession, estate taxes, charitable giving, and how wealth aligns with values.
Wealth without strategy can create as many problems as it solves. By contrast, wealth that is carefully structured for taxes, inheritance, and long term planning does not just preserve money. It preserves freedom. It gives families the ability to support causes they care about, invest in new ventures, or provide security across generations.
The Canadian Advantage in a Global Landscape
Canada’s tax system can feel punishing at times, but it also offers unique opportunities. Tools like TFSAs and RRSPs, along with carefully designed trust structures, give Canadians more flexibility than many investors abroad enjoy. The challenge is that navigating these opportunities requires knowledge and discipline.
See: Emerging Investors: Gen Z Canadians Take the Lead in Global Investment Trends
The good news is that more Canadian investors are waking up to the fact that building wealth is not just about buying the right stock at the right time. It is about structuring every decision in a way that minimizes tax erosion. And in today’s world, with both digital platforms and specialized advisors available, this approach is more achievable than ever.
Keep More, Build More
The path to real wealth in Canada is not about flashy trades or beating the market. It is about keeping more of what you already earn. Taxes will always take their share, but how much they take is something you can control with smart strategies, careful planning, and the right guidance.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Crypto Finance Finding Scale and Clarity in 2025
FT Partners Crypto and Blockchain Update | Oct 9, 2025
Source: Financial Technology Partners
Institutional Capital Into Regulated Crypto Infrastructure and Transparent Growth Channels
Financial Technology Partners (FT Partners) October 2025 Crypto and Blockchain Update shows that capital is flowing back into regulated digital asset infrastructure.
The Financial Technology Partners (FT Partners) October 2025 Blockchain and Cryptocurrencies Monthly report shows that digital asset M&A and financing activity has rebounded, led by exchanges, custody networks, and compliance technology. Institutional demand is piling into the market as regulated entities capture a growing share of capital and deal flow, with climbing valuations across regulated segments.
Select 2025 Deal Transactions
The FTP report data indicates that infrastructure remains the strongest and most resilient part of the market. Custody systems, settlement networks, and tokenization technology are attracting the largest investments as firms position to meet higher institutional and compliance standards. Transactions through 2025 is proof of how global players are consolidating around regulated platforms, liquidity access, and cross-border interoperability.
Custody and Infrastructure Led Deal Activity
Ripple Labs acquired Standard Custody & Trust for $120 million in January, expanding its regulated tokenization and trust charter capabilities.
In April, Fireblocks raised $150 million at a $10 billion valuation to scale enterprise-grade custody and settlement systems. Komainu attracted $25 million in strategic investment during the same month to strengthen its institutional custody platform and compliance integrations.
See: Investing in the Future of AI and Blockchain
May brought a $100 million raise for Anchorage Digital to expand its regulated digital asset banking and custody operations.
BitGo followed in June with a $100 million Series C round at a $1.75 billion valuation to deepen institutional tokenization services.
By September, Galaxy Digital acquired GK8 for $44 million, adding institutional self-custody and wallet management capabilities.
Exchange Consolidation
WonderFi completed a $100 million merger with Coinsquare and Bitbuy in January, forming one of Canada’s largest regulated crypto trading platforms.
Then later in March, Robinhood acquired WonderFi for C$250 million (around US$179 million), uniting Coinsquare and Bitbuy under its global exchange network.
Coinbase expanded twice, acquiring Circle’s European operations in February to enhance stablecoin settlement systems, then Deribit in August for $2.9 billion in cash and stock to extend crypto derivatives trading and clearing.
Compliance and Analytics Remained Strong
Chainalysis closed a $200 million Series F in June at a $4.2 billion valuation to expand blockchain intelligence and compliance monitoring.
A month later, Elliptic raised $50 million in a Series D extension to develop new anti–financial-crime tools for banks and exchanges.
Tokenization and stablecoin infrastructure gained momentum
Circle completed its acquisition of Archblock in February, integrating cross-chain USDC routing and compliance layers.
See: Canada’s Payments Innovation Push Gains Speed
In May, Tether acquired Bitfinex Securities’ minority stake to reinforce its regulated token issuance network.
Ripple invested $285 million in August to expand global tokenization and CBDC settlement projects.
Institutional investment
Kraken Ventures launched a $200 million fund in July focused on blockchain infrastructure and fintech platforms.
Further Insights
FT Partners’ 2025 data confirm that regulated infrastructure has become the foundation of digital finance. Valuations for infrastructure and compliance platforms now exceed eight times revenue, while consumer trading firms remain below four.
That spread shows that investors see real value in predictable, institutionally integrated systems rather than volatile retail flows. Institutional adoption continues through regulated products such as spot Bitcoin ETFs, tokenized funds, and custody-integrated settlement rails.
See: SEC Clears Crypto Staking. What It Means for Canada
These channels represent a transition from speculative trading to reliable yield generation. Capital is rewarding throughput, compliance, and interoperability the same factors that define successful cross-border fintech models.
Outlook
Growth will continue through robust compliance-oriented networks linking tokenized assets, stablecoins, and regulated exchanges. 2025 transactions signal global alignment toward clearer regulatory frameworks across Canada, Europe, and the United States. Taken together, these developments are building a more mature, data-driven digital finance ecosystem that's preparing for institutional scale.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Best Shopify Plus features to help enterprise stores grow faster
Oct 8, 2025
In today's world, where the majority of sales are now online, it is the speed of development that determines whether a company will be successful in selling online. For a large corporation, a delay of literally minutes or an error in the process can turn into a loss of several millions. That's why large-scale businesses choose Shopify Plus - a platform that not only gives the business a sense of stability, but is also ready for daily updates and upgrades.
In this article, we'll look at what challenges Shopify Plus can handle for large businesses.
Challenge 1: A large number of orders and customers
When the store increases sales from several hundred to several thousand per day, the usual steps cease to bring the same result as before. The workload on employees increases, as a result of which errors may occur during the processing of orders.
Shopify Plus Solution: the platform, thanks to powerful tools, is ready to withstand tens of thousands of payments every day. Automation of the load on the servers is a guarantee of stable operation even at the time when the most purchases are made.
Result: customers are served quickly and without interruptions, and the company saves budget that could have been lost due to technical errors.
Challenge 2: International expansion
The ambitions of large corporations are always to enter the international market. But the language barrier, different currencies and payment systems often become an obstacle to the realization of this idea.
See: Resources for Canadian Resiliency and Competitiveness
Shopify Plus Solution: built-in multicurrency and multilingualism allow you to serve customers from different parts of the world and not create a separate site for one or another country. The platform also integrates with local payment systems.
Result: the company quickly starts working on an international scale and develops new markets, without spending a lot of time and resources on it.
Challenge 3: Sophisticated Marketing
Marketing in large corporations is not only about banners and promotional offers. This is about complex work on many levels, thanks to which offers are built to meet the needs of different segments of customers.
Shopify Plus Solution: automation tools (Flow, Launchpad) help plan, launch and monitor campaigns. They allow you to segment customers according to their needs, automatically adjust discounts for them, and launch promotions at the right time.
Result: the company keeps the resource of its employees, but at the same time gets the desired result from each marketing strategy.
Challenge 4: Working with corporations
Flexible pricing and multi-level accounts are important to B2B companies.
Shopify Plus Solution: client orientation – individual conditions, personalized discounts, special conditions of cooperation. And also access to different representatives of the corporation with different rights.
Result: loyal relations with strategic partners and transparent conditions of cooperation are formed.
Challenge 5: Data control and analysis
Big brands need to get accurate numbers to make certain decisions. Analytics makes it possible to understand which internal processes are slowing down and inhibiting development.
Shopify Plus Solution: integrations with analytical systems and advanced reports allow you to analyze customer behavior, conversions and profitability.
Result: the business quickly receives all the necessary data and quickly adjusts processes.
Binary Future: a guide to scaling
To fully utilize the Shopify Plus functionality, you need a team that knows not only technical parameters, but also is competent in business processes. It is this assistant Binary Future – experts in shopify ecommerce development, capable of creating scalable online platforms and integrating advanced analytics and marketing tools."
The team helps large corporations:
- automate processes;
- create UX/UI design that will sell;
- integrate Shopify Plus with ERP, CRM and marketing tools;
- build strategies for entering new markets.
Binary Future's mission is to create seamless and intuitive shopping experiences that convert visitors into repeat customers and deliver measurable growth.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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RemitHope Mobilizes Diaspora Giving for Impact
Social Enterprise | Oct 7, 2025
Image: Freepik/creativeart
New African Led Platform Turns Remittances into Matched Community Investment
As reported by Devex on October 3, 2025, RemitHope is redefining how diaspora remittances fund local impact across Africa. A fintech-powered social enterprise and new digital giving platform founded by philanthropist Tsitsi Masiyiwa is transforming how remittances and local donations flow into African community development.
The platform’s launch follows the July fire at Mount Selinda Orphanage in Zimbabwe, which became RemitHope’s first campaign. In less than three weeks, over 1,000 donors from ten countries contributed $40,000, instantly doubled through matching funds to more than $81,000 to rebuild the orphanage, proving the platform’s model. Donations currently sit at over $81,500.
According to verified data from the World Bank, global remittance flows reached $685 billion in 2024, surpassing both foreign direct investment and overseas development assistance. The rise of platforms like RemitHope demonstrates how fintech can turn personal remittance flows into community scale development capital.
See: US Fundraising Firm RaiseRight Acquires Canada’s FlipGive
Founder Masiyiwa, who is also the co-founded Higherlife Foundation and Delta Philanthropies, described the goal as channeling diaspora generosity toward self sustaining, African led impact. As she said at launch:
“Now, as the aid from the Global North dwindles, we are stepping up. My audacious goal? $50 million in the next five years.”
Turning Remittances into Development Capital
RemitHope blends crowdfunding, remittance technology, and philanthropic matching. Each donation from diaspora or local givers is instantly doubled by partner foundations, currently Delta Philanthropies based in Zimbabwe (UK registered) and Higherlife Foundation.
This creates a direct incentive for micro giving, where even a $5 contribution becomes $10 expanding reach and impact. The platform enables donors to give through mobile payment channels such as EcoCash and is exploring integration with everyday transactions like ticket purchases or mobile top ups.
Every partner organization is vetted for transparency, governance, and measurable outcomes. Campaigns typically target around $10,000 per project, ensuring funds go directly to specific community priorities. It reframes remittances as an alternative finance mechanism bridging charity and investment.
Africans Funding African Led Growth
The first wave of users includes grassroots community groups from thirteen countries, many in rural areas that typically fall outside formal aid pipelines. These organizations gain visibility through the platform, bypassing grant bureaucracy and connecting directly to diaspora and domestic donors.
See: Crowdfunding Guide for Nonprofits and Charities
The funding mix in the Mount Selinda case is revealing: about 900 local donors used EcoCash for small contributions, while around 100 diaspora donors contributed larger amounts, often over $50. This blend of micro local and macro diaspora support shows how new models of digital trust and peer giving are forming across borders.
From Donations to Development Ecosystem
Masiyiwa’s five year, $50 million target is backed by a vision that goes beyond charity. RemitHope is building infrastructure for African led giving that turns remittance networks into sustainable impact capital. The platform’s long term plan includes integrating data driven impact tracking, digital identity verification, and traceable giving records to strengthen accountability and transparency.
The founders see it as a catalyst for regional collaboration, a model of Africans funding Africans that redefines philanthropy as investment in capacity and innovation.
See: Giving block reports, Crypto philanthropy jumped nearly 16x in 2021
As operational head Musa Muleya said, “The question was what can we do as Africans to solve African problems.” That ethos aligns with NCFA’s advocacy for inclusive, technology driven financial ecosystems that bridge public trust with private initiatives.
Disaspora Focused Philanthropic Fintechs
For Canadian context, diaspora focused fintechs such as LemFi, which raised $53 million in January 2025, are expanding remittance and mobile finance infrastructure for African immigrants.
Platforms such as CAF Canada and Myriad Canada provide cross border philanthropic frameworks that could integrate similar matching or community led approaches. These examples show how Canadian fintech and charitable infrastructure could help scale Africa led innovation responsibly, aligning with Canada’s Africa Strategy for inclusive growth.
Many similar conversations could be overhead at the inaugural 2025 Canadian-Africa Fintech Summit where NCFA partnered to help support the development of a Canada-Africa fintech bridge that fosters cross-border collaboration, innovation, economic development and investment.
Outlook
RemitHope remittances are a collaborative funding mechanism for social innovation. It's part of a new movement in Africa towards self-reliance and inclusive, locally-led social enterprise that strengthens trust and transparency between donors and recipients.
Listen: Re-imagining Philanthropy with Daryl Hatton, Founder and CEO of ConnectionPoint/FundRazr
For Canada’s fintech and social finance ecosystem, it's a powerful model of cross border collaboration that merges technology, accountability, and community empowerment.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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EU AI Transparency Rules Take Effect Setting New Benchmark
AI Regulation | Oct 6, 2025
Europe’s New AI Framework Raises the Bar For Transparency, Trust, and Safety
The European Union’s transparency and copyright rules for general purpose AI models formally took effect on August 2, 2025. Enforcement faced resistance from industry and calls for delay but regulators seem intent on sticking with the original timelines.
See: Founder Salaries: Insights from Europe, U.S., and Canada
Global tech leaders such as, OpenAI, Microsoft, Google, Anthropic, and Amazon have signed the EU Code of Practice for General Purpose AI Models, a framework quickly emerging as the new benchmark for responsible AI and a blueprint for innovators in Canada’s fintech and technology ecosystem.
Key Takeaways
- The EU’s new AI rules are in force. Developers must share brief summaries of their training data and follow copyright law
- The Code of Practice focuses on openness, legal data use, and safe system design
- Companies must record data sources, manage risk, and prevent copyright misuse
- Models trained with over 10²³ FLOP are treated as high-impact systems
- OpenAI, Microsoft, Google, Anthropic, Amazon, IBM, and Mistral AI are among the first signatories (Meta however hasn't signed)
- Transparency anchors trust and global competitiveness.
EU Transparency Rules Now in Force
The EU AI Act, published as Regulation (EU) 2024/1689 in the Official Journal of the European Union, moved into its second phase of implementation this summer. The new rules apply to general purpose AI models (GPAI) trained on large-scale data that can generate text, images, and audio. These models must now meet defined transparency and documentation requirements to operate in the European market.
See: Canada’s Opportunity In Efficient Reasoning AI
In July 2025, the European Commission released the Code of Practice for General Purpose AI Models, available on its AI transparency portal. Although its voluntary, the Code itself translates the Act’s broad principles into operational commitments that technology providers can follow, and is becoming a global reference for responsible AI development.
Transparency, Copyright, and Safety in Practice
The Code asks developers to be clear about how their AI systems are built. They must publish short summaries of training data and explain the steps taken to reduce bias and misinformation. It marks the first time transparency in AI has been defined as a regulated standard rather than a voluntary goal.
It also sets new expectations for how copyrighted material is handled. Companies must confirm that training data was obtained legally and that rights holders who chose to opt out were respected. They are encouraged to build safeguards that stop AI models from reproducing protected content and to keep a public channel open for complaints.
Finally, the Code highlights safety and security as core responsibilities. Models that use very large amounts of computing power must undergo risk assessments, maintain strong cybersecurity protections, and keep records of any misuse or technical incidents. This brings AI oversight closer to the risk management standards already used in finance.
Who's Committed to the Code?
The European Commission’s list of signatories includes OpenAI, Microsoft, Google, Anthropic, Amazon, IBM, and Mistral AI. Their participation gives the voluntary Code practical weight and sends a message that transparency and accountability are compatible with innovation.
See: Europe’s Digital Euro and Bank Stablecoin Race
Meta has not signed, citing uncertainty about enforcement and consistency across European member states. It shows the divide between companies moving early to align with transparency and those waiting for further legal clarification. Early signatories are setting examples that others may have to follow once regulation tightens.
The Business Case for Transparency
Companies that publish their data summaries and risk documentation not only comply with regulation but also strengthen their position with investors and partners. For companies that can responsibly demonstrate how they legally sourced their data to train their models, it can influence purchasing decisions in regulated sectors like finance, health, and insurance.
For AI developers, transparent practices can also lead to improved internal knowledge. Knowing exactly what data was used to train a system and where risks exist improves quality and helps teams innovate with confidence. Transparency is evolving from a compliance task into a type of competitive strategy.
What Canadian Innovators Can Take Away
Canada’s Artificial Intelligence and Data Act (AIDA) was part of Bill C-27, which died on the Order Paper when Parliament was prorogued in January 2025. For now, Canada's Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems is still Canada's main AI policy reference. The Code is endorsed by companies such as Cohere, OpenText, BlackBerry, and Telus, and encourages transparency and human oversight in the use of generative AI. While not legally binding, it mirrors much of the EU’s direction and provides a practical foundation for organizations preparing for future legislation.
See: Europe’s Fintech Reset at Point Zero Forum
Canadian firms that sell or integrate AI systems in the European market must already comply with the EU AI Act transparency and copyright rules. The regulation applies outside the EU as well, meaning any company offering AI services or products in Europe must meet the same standards as European providers. This includes publishing training data summaries, documenting data sources, and ensuring lawful use of copyrighted material. For fintechs and technology companies, aligning early with EU standards is not just about compliance. It can help position them as credible and trusted partners in markets that increasingly link transparency with competitiveness.
Outlook
AI transparency and innovation are now hand in hand in the EU. While enforcement of the new framework will happen gradually, the market impact is immediate with companies now competing not only on performance but on integrity. Companies building transparency into product design, investor communications, and risk management will benefit by transforming responsible AI from an obligation to a strength.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Globe Ranked Top Growing Fintech Companies 2025
Fintech | Oct 3, 2025
Image: Freepik/newelement
Globe and Mail Ranking of Canada’s Fastest Growing Fintechs 2025
On September 26, 2025, the Globe and Mail released its 2025 Report on Business ranking of Canada’s Top Growing Companies. The annual list tracks Canadian firms based on three-year revenue growth, offering a quick snapshot of where innovation is scaling fastest (think revenue, headcount, growth).
See: Canada’s Stablecoin Race Enters Critical Phase
This year’s ranking features a great group of fintech and digital finance firms that are impacting how Canadians borrow, pay, invest, insure, and embed financial services into everyday life.
Fintech-related Companies from the 2025 Ranking
| Rank | Company | Sector | Description |
| #3 | Gearlay | Web3 / Blockchain | Blockchain-based enterprise financial software |
| #4 | Float | Lending & Embedded Finance | SME finance and corporate card platform |
| #5 | veritree | ESG & Green Finance | Digital carbon credits and reforestation finance |
| #11 | Novisto | ESG & Green Finance | ESG disclosure, data, and reporting platform |
| #24 | FundMore | Lending & AI | Automated mortgage underwriting |
| #32 | Quandri | AI & Automation / Insurtech | Insurance automation bots |
| #39 | Autocorp.ai | AI & Lending | AI-powered auto retail finance |
| #44 | Helcim | Payments | Merchant payment processing |
| #57 | CapIntel | WealthTech | Digital platform for advisors and wealth managers |
| #62 | PomeGran | Digital Infrastructure | Broadband and connectivity backbone |
| #65 | BOXX Insurance | Insurtech | Cyber insurance and protection |
| #72 | SWTCH Energy | Payments Infra / Energy | EV charging + payments integration |
| #86 | Makeship | Alternative Finance / Crowdfunding | Creator crowdfunding platform |
| #108 | Fintel Connect | Web3 / Marketing | Performance marketing for fintechs and crypto |
| #110 | Justwealth | WealthTech | Robo-advisor portfolio management |
| #112 | HONK | Payments | Contactless mobility/parking payments |
| #119 | Merchant Growth | Lending & SME Finance | Working capital financing |
| #129 | MindBridge | AI & Regtech | AI anomaly detection and audit |
| #137 | Loans Canada | Lending & Alt Finance | Loan marketplace and credit scoring |
| #140 | PolicyMe | Insurtech | Digital-first life insurance |
| #149 | Zum Rails | Open Banking & Payments | Open banking and payments APIs |
| #158 | Trolley | Payments | Global payouts and compliance |
| #204 | FundThrough | Lending & Alt Finance | Invoice financing and cash flow optimization |
Beyond the Globe’s List
While the Globe and Mail ranking provides a valuable view of Canadian fintech growth, it is far from exhaustive. Many high-growth firms remain absent because they operate in stealth mode, choose not to disclose financial data, or do not meet eligibility thresholds. Early-stage innovators, companies with holding structures abroad, and ventures acquired by larger incumbents also fall outside the ranking.
See: Canada’s Payments Innovation Push Gains Speed
For NCFA’s community, this means the list represents only part of the country’s dynamic ecosystem of fintech, Web3, AI, alternative finance, and digital-first ventures that are scaling globally. For a broader view of Canada’s financial tech innovation landscape, see NCFA’s fintech directory at https://fintechcanada.io/.
Congrats to All the Scaling Canadian Fintechs
Canadian fintech companies are excelling in lending, payments, Web3, insurtech, ESG, AI, digital infrastructure, and many other subcategories. These companies mirror how regulation, access to capital, and collaboration between industry and government is critical to ensure Canadian fintechs continue to thrive in an increasingly globally competitive landscape.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create aa vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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