Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Marketing, Strategy, Growth, Design
CRSHMARKET Launches Livestream Prediction Markets
August 26, 2026 | NCFA Market Activity | Capital Markets And Market Infrastructure, Regulation And Policy, Risk Compliance And Regtech
When Creators Can Influence The Market Outcome
On August 19, 2026, CRSHMARKET promoted a wider vision for its livestream prediction market, where people can put money on events while a stream is still unfolding. Its campaign showed markets around dates, public interactions and creator content, while the live product currently remains concentrated in video games such as Rocket League and Among Us.
The format is built around speed. Users enter dollar amounts on short yes-or-no outcomes and some markets can settle within minutes. When checked on August 26, CRSHMARKET on-chain volume showed about US$7.79 million in cumulative USDC entry volume across current and earlier contracts. DefiLlama says each entry is counted once and treasury seed liquidity is excluded.
What happens if the product expands beyond esports into creator-led livestreams where the person on screen can affect what traders are betting on?
Creator Markets Need Different Controls
Prediction markets already have to manage insider information. Creator-led markets add another problem because someone close to the content may be able to influence the result itself.
A market on whether a streamer gets someone's phone number, spends more than $100 or completes a stunt can involve people who know more than the audience. The creator, production staff, guests or friends may know what is planned. Some may also be able to change what happens.
There's already a useful precedent. A Kalshi insider trading case resulted in a financial penalty and two year suspension after an internal editor traded on markets connected to MrBeast videos he worked on. Kalshi's surveillance tools and user reports helped identify the activity.
Livestreams compress that problem into a much shorter window. The event is happening now, viewers are trading now and the market may settle before a platform has much time to investigate. Controls therefore need to identify who is close enough to the event to have an unfair advantage before suspicious trading becomes the only warning.
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| Risk | Why Livestreams Make It Harder | What Platforms Need |
|---|---|---|
| Inside information | Creators, guests or production staff may know what is coming | Restricted accounts and connected party checks |
| Outcome manipulation | People on the stream may be able to change the result | Creator rules and limits on controllable markets |
| Disputed results | Live video can be unclear, interrupted or open to interpretation | Clear settlement rules and independent evidence |
Integrity Infrastructure Could Become The Bigger Opportunity
CRSHMARKET has already written some of these concerns into its operating rules. Its published CRSHMARKET Bonus Terms allow identity, age, location, wallet, payment and source-of-funds checks before promotional funds are paid or withdrawn. The terms also identify collusion, automated accounts, location masking and creator manipulation as reasons to cancel promotional value or restrict future eligibility.
Those are promotion rules rather than a complete public rulebook for every market, so they don't establish how all livestream disputes or conflicts will be handled. They do show that CRSHMARKET recognizes creator manipulation and connected-account behaviour as operating risks.
In the U.S., prediction markets can operate within the CFTC regulated derivatives framework, but that protection depends heavily on how the contracts and venue are structured. CRSHMARKET does not appear to be a CFTC registered exchange, so creator led livestream markets could still raise federal derivatives, state gambling and market manipulation questions.
The regulated event contract infrastructure opportunity tracks demand for surveillance, conflict detection, audit trails, settlement tools and dispute handling as prediction markets grow. Creator-led markets make those capabilities more valuable because the event, the people controlling it and the traders can be closely connected.
Some markets may also need to be excluded entirely. For example, when a trader can influence the event they are betting on, an issue already explored in prediction markets on controllable events.
For CRSHMARKET, speed is part of the attraction. It can turn ordinary moments inside a livestream into something viewers can trade almost immediately. The commercial model becomes stronger if creators gain another way to monetize audiences and viewers find the markets entertaining enough to return.
But they'll need to show that people close to an event cannot quietly trade on better information, creators cannot steer outcomes for financial gain and disputed results can be settled consistently. If it can do that, livestream prediction markets could create a new category of interactive financial entertainment. If it can't, the integrity issue may limit the model before the audience does.
Talking Point
If livestream prediction markets expand beyond esports, can platforms build controls fast enough to separate genuine audience participation from markets where creators or insiders can influence the outcome themselves?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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RBC Global Transaction Banking Targets Corporate Cash
August 25, 2026 | NCFA Insight | Treasury Liquidity And Cash Management, Payments Infrastructure And Money Movement, Cross Border Payments And FX
Open Banking And Real-Time Payments Raise The Stakes
On August 25, 2026, Royal Bank of Canada created a RBC Global Transaction Banking business spanning Commercial Banking in Canada and the United States and RBC Capital Markets. Payments, cash and liquidity management, working capital, trade finance and foreign exchange will operate under shared leadership and one strategy.
Most of the products already existed. RBC is changing how it organizes, develops and sells them. RBC Edge serves Canadian cash management clients and RBC Clear serves the U.S. market. The bank hasn't said the two platforms will become one system.
When a business collects money, makes payments, holds cash, converts currencies and borrows through the same bank, that relationship can produce payment fees, operating deposits and more financing opportunities. RBC is trying to make more of those services work as one relationship across borders.
Corporate Deposits Raise The Value Of The Relationship
RBC explicitly links transaction banking to deposit growth. By the end of fiscal 2025, RBC Clear U.S. transaction banking had attracted US$23 billion in deposits from more than 180 clients, up from about US$9 billion and 100 clients earlier that year. RBC's medium term target is US$50 billion.
Operating deposits are useful because businesses need money available for payroll, suppliers, collections and other daily obligations. RBC can use those balances as funding elsewhere in the bank while earning fees from payments and treasury services.
BMO shows how significant that combination can become. At its March 2026 Investor Day, BMO Treasury and Payment Solutions said it served more than 138,000 businesses and had processed $68 trillion in payments during the previous fiscal year. The business represented roughly 40% of BMO's deposits and about 10% of fee revenue.
For banks, the prize isn't just the payment. It's the cash before and after the payment, the foreign exchange required across markets and the financing a business may need later.
Payments Look Like The First Place Businesses Will Unbundle
Businesses don't have to replace their primary bank to give part of the relationship to somebody else. Payments, foreign exchange, cards, payables and finance software can all be purchased separately while the main operating account stays where it is.
Canadian payment data shows where demand is strongest. Payments Canada SME payment research found 69% of small and medium-sized businesses would use real-time payments to send money and 66% would use them to receive money if available. Payment delays were their most common payment problem, followed by cash flow management.
A separate 2025 Canadian business payments survey found 60% planned to increase fintech use, 77% were prioritizing real-time payments and 53% expected to move from traditional payment methods toward digital ones.
This means payments are a practical entry point for fintechs. A company can solve a visible problem such as supplier payments, international transfers or reconciliation without asking the customer to move its entire banking relationship.
| Provider | What It Brings Together | Where It Can Win |
|---|---|---|
| RBC | Payments, deposits, cash management, FX, trade and working capital | Large relationships, lending capacity and cross border banking |
| BMO | Treasury, payments, deposits and embedded banking | North American treasury and business banking |
| Airwallex business payments and FX | Multi-currency accounts, payments, FX, cards and bill pay | Businesses managing money across countries and currencies |
| Float business finance platform | Accounts, cards, payments, FX, credit and finance automation | Canadian finance teams that want banking and software together |
| Dream Payments real-time payouts | Payment controls, supplier onboarding and payouts | Payments built directly into business software |
Customer survey and behaviour data suggests the relationship can already break apart product by product. Canadian bank switching reached a 20-year high in 2025, with 24% of Canadians choosing a new financial institution when opening an account. Another Canadian financial loyalty survey found 62% would be open to switching if the process were easier, while 35% identified switching hassle as a barrier.
Open Data Makes A Multi-Provider Model Easier
Canada's new financial infrastructure can lower the friction of using several providers. Proposed Canada Open Banking and Consumer Driven Banking Rules establish the framework for consent-based financial data sharing, authentication and security.
The Canada open banking commercialization roadmap shows what that can mean commercially. Read-only data sharing can support cash flow dashboards, account comparison, switching and easier onboarding, while later payment initiation can open more room for embedded credit, payments and real-time treasury services. The competitive effect isn't only easier switching. It's easier unbundling, because a business can use better tools from another provider without first moving its main operating account.
A business could keep its core banking relationship with RBC while using another provider for foreign exchange, payables, treasury analytics, cards or financing. Better data access makes those services easier to connect. The primary bank doesn't have to lose the customer to lose part of the relationship.
The payment side is changing too. Canada's Real-Time Rail access rules create new participation routes for eligible payment service providers as Canada prepares for instant, data-rich payments. Payments Canada research already highlights strong SME demand for faster payments. RBC did not say that the new global transaction banking structure is connected to the rail, but banks and fintechs will eventually be building products on more capable payment infrastructure.
The NCFA Financial Innovation Map separates payments, treasury, embedded finance, business banking and open finance into different markets. Customers won't necessarily make the same distinction. A business wants to get paid, see its cash, pay suppliers, exchange currencies, borrow when necessary and keep the records straight.
Where RBC Has To Defend The Relationship
RBC's scale still gives it advantages fintech specialists can't easily reproduce. It can combine deposits, lending capacity, treasury services, foreign exchange and large corporate relationships inside one regulated institution. For companies operating in both Canada and the U.S., making those services work smoothly together could be especially valuable.
But product-by-product competition changes what RBC has to defend. A client may keep its operating account while moving international payments to one provider, cards to another and treasury software somewhere else. Each piece that leaves takes fees, data and customer activity with it.
Fintechs don't necessarily need to replace RBC to win. Payments offer an early opening because businesses already want faster and more automated ways to move money. Open banking can make outside tools easier to connect. Better real-time infrastructure can widen the number of companies able to build around the payment itself.
RBC's Aug. 25 reorganization is about more than putting existing teams under common leadership. The bank is trying to make payments, cash, FX and financing work well enough together that businesses have fewer reasons to peel those services away one at a time.
Talking Point
As open banking makes financial data easier to share and real-time payments give businesses more ways to move money, can RBC keep more of the corporate relationship by connecting payments, cash, FX and financing, or will fintechs keep winning those services one product at a time?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Aliaswire Adds US$6M At US$100B Payment Scale
August 24, 2026 | NCFA Market Activity | Payments And Money Movement, Capital Markets And Market Infrastructure, SME Finance And Business Banking
Growth Capital Meets Embedded Payments And Receivables
On August 24, 2026, Toronto based Flow Capital announced a US$6 million investment in Aliaswire (see quarterly filing), a Burlington, Massachusetts payments technology company serving vertical SaaS platforms, financial institutions and enterprises. The investment was made August 17 and will provide working capital for growth while refinancing existing debt.
Aliaswire provides billing, receivables and payments technology through DirectBiller for enterprises and financial institutions and DirectEmbed for vertical SaaS platforms. The company says its technology serves more than 7,000 customers and has processed more than one billion transactions and US$100 billion in payment volume.
Its embedded receivables platform lets software companies add billing, invoicing, payment acceptance, account management and reconciliation inside their own products without building the full payments operation themselves.
The financing terms have not been disclosed. Flow's core business is growth venture debt, but the public documents do not identify the Aliaswire instrument, pricing, maturity, security or any equity component. The US$6 million should therefore be treated as an investment unless further terms are released.
When Debt Can Fit Better Than Another Equity Round
Aliaswire is large enough to have more financing choices than an early startup. Equity brings capital without scheduled principal repayments but gives up ownership. Bank debt can be cheaper when a company qualifies. Venture debt can extend runway with less dilution, while other private credit can offer more flexible terms when a financing need falls outside normal bank lending.
Venture debt is one form of private credit. Flow focuses on revenue generating growth companies and typically provides senior secured financing, sometimes with a small warrant component.
This deal sends Canadian growth capital into a U.S. fintech. Canadian institutions already hold roughly C$500 billion in private credit exposure, much of it outside Canada, while non-bank loans account for only about 15% of external funding for Canadian non-financial businesses. Foreign investment is not the problem. The question is whether Canadian fintechs at the same stage can access comparable growth capital at home?
Capital Choice
| Financing | Where It Can Fit | Founder Advantage | Main Tradeoff |
|---|---|---|---|
| Bank debt | Established cash flow, credit history or collateral | Often lower cost when available | High growth companies may not qualify |
| Venture debt | Growth company with traction and a defined next milestone | Can extend runway with limited ownership dilution | Interest and repayment obligations, often with warrants |
| Private credit | Financing needs that do not fit normal bank lending | Terms can be tailored to the company and use of capital | Can cost more and give lenders stronger protections |
| Equity | High growth where cash needs to remain inside the business | No scheduled principal repayment | Founders and existing investors give up ownership |
How Companies Have Used Flow Capital Financing
Flow's portfolio shows how growth debt can serve different jobs. Toronto retirement fintech Common Wealth used a C$15 million senior secured note before raising a C$12 million Series A in March 2026. The debt helped fund product development, customer growth and operating scale before the equity round.
Vancouver based JUDI.AI used several Flow tranches to finance U.S. expansion, including senior sales hiring and new American credit union customers. UK insurtech Wrisk used a C$4.25 million senior secured note to fund growth toward profitability. Revenue rose 142% in the following year, its UK operation later became profitable and the company subsequently raised a £12 million Series B.
UK marketplace lending platform CrowdProperty received a C$5.25 million senior note for marketplace lending growth and technology improvements. Aliaswire adds another use case by combining new working capital with refinancing.
Debt isn't replacing equity in these examples. Common Wealth used it before an equity raise, JUDI.AI used it to enter a new market, Wrisk used it to reach profitability and CrowdProperty used it to expand an established platform. The financing changed with what each company needed to accomplish next.
Embedded Receivables Expands The Vertical SaaS Opportunity
Aliaswire is raising capital as payments become a bigger part of the vertical SaaS business model. Stripe reported that median payments adoption across its software platforms rose from 27% in 2024 to 40% in 2025, while leading platforms reached 80% or more. Its vertical SaaS payments data also found 11% lower annual churn among platforms offering embedded financial products and 49% faster revenue growth among platforms offering several financial products compared with software only peers.
J.P. Morgan's work on embedded payments points to transaction revenue, stronger customer relationships and proprietary payments data. As AI makes software features easier to reproduce, owning more of the financial workflow can make a platform harder to replace.
Aliaswire is targeting that opportunity through embedded receivables rather than payment acceptance alone. DirectEmbed combines payments with billing, invoicing, self service, account management and payment operations. Aliaswire is also adding AI for receivables automation, including cash flow prediction, DSO optimization, risk analysis and agentic payment workflows.
Aliaswire's embedded receivables model also connects with the Financial Innovation Map, where payments, receivables, SME finance and embedded software are tracked as connected opportunity areas.
Outlook
If more vertical SaaS companies bring billing, receivables and payments inside their products, Aliaswire can grow with a market it has served for more than two decades while DirectEmbed gives it a newer route into software platforms. Its existing payment volume, customer base and financial institution relationships give it experience that newer embedded finance providers still need to build.
See: Embedded Finance: Banking Meets the Customer
The opportunity is also attracting much larger payment companies and newer infrastructure providers. AI can make software features easier to copy, while deeper control over billing and payments increases fraud, compliance and reliability demands. Aliaswire has to do more than make payments easy to add. It needs to help software companies get customers using them, earn more from them and manage receivables better than competing platforms can.
Talking Point
Aliaswire has already processed more than US$100 billion in payments. Can US$6 million of flexible capital help it turn embedded receivables and AI into a bigger position inside vertical SaaS while larger payment platforms compete for the same customers?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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How Mergers and Acquisitions Help Canadian Companies Grow
Aug 24, 2026
Growing a business does not always mean starting from scratch. While companies can expand by hiring more employees, developing new products or entering new markets organically, those strategies can take years to produce meaningful results. Mergers and acquisitions (M&A) give Canadian companies another option: acquire an established business, customer base, team or capability and accelerate growth.
For companies with the right strategy and financial position, an acquisition can accomplish in months what might otherwise take years to build internally.
That does not mean every acquisition creates value. Successful M&A requires careful planning, realistic valuations, thorough due diligence and a clear understanding of what the company hopes to accomplish after the transaction closes. When those pieces come together, however, mergers and acquisitions can become a powerful part of a Canadian company's long-term growth strategy.
Enter New Markets Faster
Expanding into a new geographic market can be expensive and uncertain.
A company entering another province, for example, may need to establish a location, hire employees, build local relationships, advertise its services and develop an entirely new customer base. Even a successful expansion can take several years before the new operation becomes firmly established.
Acquiring an existing company can significantly shorten that process.
Instead of building everything from the ground up, the buyer may acquire an established brand, experienced employees, existing contracts, supplier relationships and a customer base that already generates revenue.
This can be particularly valuable in a country as geographically large as Canada. A company established in Alberta that wants to expand into British Columbia or Ontario may find that acquiring an existing operation provides a much more direct route into the market than opening a new location independently.
The acquisition still needs to make strategic and financial sense, but it can remove many of the barriers associated with entering an unfamiliar market.
Increase Market Share
Acquisitions can also help businesses increase their presence within markets where they already operate.
If two companies serve similar customers, combining them may create a larger organization with more revenue, greater resources and a stronger competitive position.
The benefits can go beyond simply combining two customer lists.
A larger company may have greater purchasing power with suppliers, more resources for marketing, stronger recruitment capabilities and the ability to spread administrative costs across a larger revenue base.
This is one reason M&A can be particularly attractive in fragmented industries where many small and mid-sized businesses compete for the same customers.
Rather than relying entirely on organic growth, a company may acquire competitors or complementary businesses over time and gradually build a larger market position.
Add New Products or Services
Developing a new service internally requires time, expertise and investment.
A company may need to hire specialized employees, purchase equipment, develop systems and spend months or years building credibility in the new area.
Buying a business that already provides that service can offer a faster path.
Consider a construction company that wants to expand into a specialized trade, a technology company that needs a particular software capability or a professional services firm that wants to introduce an entirely new division. An acquisition can provide the people, systems and customer relationships required to add that offering immediately.
This strategy can also create opportunities for cross-selling.
The acquiring company may be able to introduce its existing services to the acquired company's customers while offering the acquired company's services to its own customer base.
When there is a strong fit between the two businesses, the combined organization can sometimes generate more revenue than the companies could have produced independently.
Acquire Talent and Expertise
Finding qualified employees is a major challenge for many Canadian businesses.
In industries where specialized skills are difficult to recruit, M&A can effectively become a way of acquiring an established team.
Instead of hiring employees individually and building a department over time, a company may acquire a business that already has the technical knowledge, leadership and experience it needs.
The value of an acquisition may therefore extend well beyond physical assets or annual revenue.
Engineers, tradespeople, developers, sales teams, managers and other specialized employees can represent a significant part of the value being acquired.
Retaining those employees after closing is equally important. If key people leave immediately following the transaction, some of the strategic value of the acquisition can disappear with them.
For that reason, employee retention and integration should be considered before the deal is completed rather than treated as an issue to solve afterwards.
Strengthen the Supply Chain
M&A can also be used to gain greater control over parts of a company's supply chain.
A manufacturer might acquire a supplier that produces an important component. A distributor could acquire a transportation or logistics operation. A company that relies heavily on an outside service provider might decide there is strategic value in bringing that capability in-house.
This type of acquisition is often referred to as vertical integration.
The goal is not necessarily to increase market share. Instead, the company may be trying to improve reliability, reduce costs, protect margins or gain greater control over an important part of its operations.
Recent disruptions to global supply chains have made this consideration increasingly important for companies that rely on specialized materials, manufacturing capacity or transportation networks.
Owning more of the supply chain can sometimes reduce exposure to outside disruptions, although it also means taking responsibility for operating another part of the business.
Create Economies of Scale
Two businesses operating separately often duplicate many expenses.
Each may have its own accounting department, office space, software subscriptions, management structure, insurance policies, marketing costs and administrative systems.
After an acquisition, some of those functions may be combined.
If the merged company can generate more revenue without increasing overhead at the same rate, profitability may improve.
Greater scale can also improve negotiating power. Larger organizations may be able to negotiate better terms with suppliers, lenders, technology providers and other vendors.
These efficiencies are commonly described as synergies, but they should be evaluated carefully. It is easy to assume that combining two companies will automatically reduce costs. In reality, integration itself can be expensive, and some operations may be more difficult to combine than expected.
The strongest deals are generally based on realistic efficiencies rather than aggressive assumptions about how much money will be saved.
Provide an Exit and Succession Option
M&A does not only benefit acquiring companies.
Canada has a significant number of privately owned and family-run businesses whose owners will eventually need to transition out of the company.
Some businesses can be transferred to family members or employees. Others may ultimately be sold to another company, management team, private equity group or individual buyer.
That creates opportunities on both sides of the transaction.
An established company can acquire a successful business rather than building a competing operation, while the seller receives a way to realize the value that has been created over many years.
Transactions can take several forms, including asset purchases, share purchases and management buyouts. The structure of the transaction can affect taxes, liabilities, financing and what the buyer actually acquires, which is why companies considering a deal often involve experienced M&A legal counsel early in the process rather than waiting until an agreement is ready to be signed.
Reduce the Risk of Building Something New
Every growth strategy involves risk.
Launching a new product can fail. Opening a location in another province does not guarantee customers will follow. Building a new division may require significant investment before producing any revenue.
An acquisition provides something different: an operating business with a track record.
Buyers can examine financial statements, customer concentration, contracts, employees, assets and historical performance before deciding whether to proceed.
That does not eliminate risk. It simply provides more information about the business being acquired.
This is where due diligence becomes critical.
A company may look attractive based on revenue and profitability while still carrying risks related to contracts, taxes, litigation, customer concentration, intellectual property, employment obligations or debt.
Finding those issues before closing can affect the purchase price, deal structure or even the decision to proceed.
Growth Depends on What Happens After the Deal
Closing an acquisition is not the end of an M&A strategy.
It is the beginning of the integration process.
Companies need to decide how systems will be combined, how employees will work together, whether brands will remain separate and how customers will be introduced to the new organization.
Culture can be just as important as finances.
See: Fintech Fridays EP65: Personal Guarantees: The Most Expensive Autograph an Entrepreneur Can Sign
Two profitable companies may struggle after a merger if their management styles, employee expectations or ways of working are fundamentally incompatible.
Successful Canadian companies therefore tend to approach acquisitions as more than financial transactions. The goal is not simply to buy revenue. It is to acquire something that makes the overall business stronger.
When the strategic fit is clear and the transaction is structured carefully, M&A can give companies access to new markets, customers, talent, technology and capabilities much faster than organic growth alone. For businesses looking at the next stage of expansion, acquiring the right company can be one of the most effective ways to get there.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Can Canadian Fintechs Diversify Beyond The U.S. Faster?
August 24, 2026 | NCFA Insight | SME Finance And Business Banking, Cross Border Payments And FX, Competition And Market Structure, Public Sector Policy And Industrial Strategy
Canada Needs Faster Routes To Non-U.S. Revenue
On August 24, 2026, Canada-U.S. trade negotiations had collapsed with new 50% U.S. tariffs on certain Canadian products already in force from August 22. President Donald Trump then threatened to raise new additional 50% tariffs on all Canadian cars, trucks and auto parts beginning January 1, 2027. Canada plans retaliatory tariffs on some U.S. goods beginning September 8.
The breakdown adds fresh urgency to Canada’s push to build more trade outside the U.S. The federal government is already tilting export support in that direction. CanExport SMEs has approximately $31 million available for 2026 and 2027, with about $27.9 million available for non-U.S. market activities and $3.1 million for U.S. projects. The program says the allocation supports Canada’s objective of doubling non-U.S. exports over the next decade.
For fintech, software and other digital firms, the problem is how quickly Canadian companies can turn access to a foreign market into customers and recurring revenue. Europe, the UK, Singapore, Southeast Asia, Latin America, Africa and the Middle East already have local firms and international competitors with licences, integrations, distribution, customer relationships and years of operating experience.
Statistics Canada reported $70.3 billion of digitally delivered commercial services exports in 2023. Large firms increased those exports by 20.1%, while small and medium sized firms recorded a 7.6% decline. Canadian multinationals increased commercial services exports outside the U.S. by 21%, compared with 6.6% growth to the U.S. They also accounted for 75% of the increase in Canadian commercial services exports to non-U.S. markets.
NCFA's earlier digital export comparison shows Singapore ahead of Canada despite operating from a far smaller domestic economy. Singapore ranked 11th globally in the underlying 2023 data at US$153 billion, compared with Canada in 16th place at US$118 billion.
Canada doesn't just need another list of markets to enter. It needs more startups and SMEs able to win non-U.S. customers faster and build businesses that can keep competing once they get there.
Late Entry Raises The Cost Of Winning Non-U.S. Markets
Canada already has substantial export infrastructure. The Trade Commissioner Service connects companies with customers, partners and investors. Canadian Technology Accelerators provide business development support, strategic guidance and local introductions. CanExport reduces part of the cost of entering new markets, while Export Development Canada's Trade Impact Program provides financing, working capital, guarantees and credit insurance to companies dealing with trade uncertainty.
The Canadian Technology Accelerator also produces measurable results. A Global Affairs study found participating firms had 27% higher revenue one year after completing the program than otherwise similar companies. The positive differences in revenue, assets and payroll became larger over the following years.
But Global Affairs could not determine how much the firms actually became more international because the available data were insufficient. That leaves the commercial outcome Canada now needs to understand. How many firms supported expansion into London, Singapore or another non-U.S. market are still generating recurring revenue there two, three or five years later?
Canadian fintech history shows why market entry alone is a weak measure. Wealthsimple built a UK business for almost five years and reached about 16,000 customers before selling the operation and concentrating on Canada. Clearco expanded into several overseas markets before transferring its international business to Outfund as ecommerce growth slowed and financing conditions deteriorated.
Neither case proves Canadian fintechs cannot compete abroad. They show how demanding a foreign operation becomes when a company has to fund customer acquisition, staff, compliance, banking relationships, treasury, tax and product adaptation while continuing to compete at home.
VoPay is using another model. The Vancouver founded payments infrastructure company established a global headquarters in Doha in January 2026 while keeping its Canadian operations active. Qatar is being built as a major hub for expansion across the Middle East, Africa and Southeast Asia, with more than 400 planned hires across engineering, technology, security, compliance, data and platform operations. The company didn't abandon Canada, but a meaningful part of its next stage of international capability is being built outside the country.
For Canada, it's not a simple win or loss. VoPay remains rooted in Canada while using Qatar as a launch point into several non-U.S. regions. Using a regional hub can also reduce expansion risk by putting management and operating capability closer to target markets while the Canadian core continues to run. The policy question is where the next layer of technical talent, management, partnerships and enterprise value accumulates as Canadian companies expand internationally.
The U.S. capital pull starts much earlier. NCFA's productive participation analysis examined the Canadian founder drain into the U.S. technology ecosystem. Barn Ventures describes a founder conveyor in which U.S. investors and programs recruit Canadian talent from high school and university through company formation and later scale.
Barn's analysis of the Dominion List found 517 U.S. based companies with a Canadian founder had raised about US$414 billion. It found 73% headquartered in California and 56% in San Francisco. Barn also found the number of listed companies founded each year rose sharply after 2022, while acknowledging that the Dominion List is a curated catalogue rather than a census.
Large U.S. capital markets and Silicon Valley's technology ecosystem will always attract ambitious Canadian founders. Those organizations are doing what successful capital markets do. The Canadian problem becomes more serious when founders also conclude they need to leave to get the capital, customers, infrastructure or operating environment required to build a major company. Canada can then lose value at both ends. Some promising founders build in the U.S. before substantial enterprise value accumulates here.
Also, Canada's main export programs generally engage firms after they have built meaningful operating capacity or market traction. By then, their products, sales models and management experience may already have been shaped largely around Canada and the U.S., while competitors in non-U.S. markets have spent years building customers and local experience. That is why promising firms should encounter non-U.S. customers, regulators and market requirements earlier, before they reach the stage where most formal export support begins.
Financial infrastructure can add to that timing gap. NCFA's financial infrastructure history shows Canadian fintechs developing while Real-Time Rail, wider payments access and regulated consumer driven banking arrived multiple years later than comparable infrastructure in several major fintech markets.
That does not explain Wealthsimple's UK exit, Clearco's retrenchment or any other individual company decision. It also affects what Canadian firms learn at home. Years of working with real time payments, portable financial data, modern APIs and digital onboarding build practical experience that can help when companies expand into other markets.
If Canadian firms gain important financial capabilities later, they also have less time to turn them into competitive advantages before entering non-U.S. markets.
Canada Can Reach Non-U.S. Revenue Faster
The quickest response to Canada's urgent need to diversify beyond the U.S. is not more export information. Canada already has market intelligence, trade commissioners, financing programs and buyer introductions. The priority is to shorten the time between choosing a non-U.S. market and winning recurring revenue there. Canada can do many things differently to help achieve this.
1. Start earlier. Promising fintech and digital companies should encounter non-U.S. customers, regulators and financial institutions while their products are still developing. This doesn't mean sending every startup overseas. It means finding companies with strong technology and real differentiation early enough that requirements in several jurisdictions can influence what they build.
See: DPI Digital Finance Works. Why Is Canada Still Waiting?
A company that learns to work across several payment systems, data rules, onboarding requirements and regulatory environments before reaching scale develops a different skill set from one encountering that complexity for the first time after years focused on Canada and the U.S.
2. Push buyer introductions toward commercial conversion. Canada already connects companies with qualified contacts, potential customers and partners. But they need to track and measure how consistently those introductions turn into technical evaluations, paid pilots, contracts and recurring revenue. Trade Commissioners in priority non-U.S. markets are well placed to identify concrete buyer needs and concentrate Canadian firms with relevant products against those opportunities.
That also creates better intelligence. If Canadian fintechs repeatedly lose the same types of opportunities in London, Singapore or São Paulo, Canada can determine whether the problem is product fit, pricing, licensing, procurement, financing or a capability competitors already possess.
3. Finance the period between market entry and recurring revenue. CanExport can provide up to $50,000 toward eligible international business development costs. EDC's Trade Impact Program has up to $5 billion of additional capacity over two years and supports working capital, guarantees, credit insurance and other financing tools. Those tools become more useful when they are organized around the economics of a specific foreign operation. Customer acquisition, regulatory work, FX, payments, local staff and management time can absorb capital before a new market supports itself.
For regulated fintechs, entering another country is like building a second company while the first keeps operating. Management needs to know what the foreign operation costs, what milestones justify further investment and when the economics no longer support continued expansion. That discipline protects the Canadian core while giving a promising foreign business enough runway to prove itself.
4. Measure whether companies win and stay. Canada should track the time from choosing a non-U.S. market to the first paying customer, how many assisted firms develop recurring revenue and how many are still operating there after two, three and five years.
The same scorecard can track local licences, staff and operating entities alongside the value that remains anchored in Canada. That includes Canadian employment, management functions, intellectual property, investment and capital recycled into the next generation of companies.
Those results would expose the bottlenecks quickly. A firm that receives many introductions but cannot win customers has a different problem from one that wins customers but cannot finance its expansion. A company delayed by licensing, payments or compliance needs a different response again.
See: UK Private Banks Commit £11 Billion To SME Export Lending
Canada's non-U.S. diversification push became urgent much faster than companies can build international experience. The fastest response is therefore partly to start earlier.
- Give promising firms exposure to several markets sooner
- Complete the financial infrastructure they need to build competitive products at home
- Convert foreign demand into paid business more aggressively
- Finance strong foreign opportunities long enough to establish whether they work
Then judge success by whether Canadian companies are winning customers outside the U.S., staying in those markets and keeping enough of the resulting value anchored in Canada.
Talking Point
Canada now needs to diversify beyond the U.S. faster than many of its technology companies have historically expanded internationally. Can it help promising fintechs build non-U.S. customers and operating experience early enough to win against established competitors while keeping more of the resulting enterprise value anchored 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
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Almost $4 Billion Shows What Lower Securities Friction Can Do
August 21, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Regulation And Policy, Competition And Market Structure
LIFE Financing Rose Eightfold After Canada Increased Exemption Limits
On August 18, 2026, the Canadian Securities Administrators published its 2025–2026 Year in Review. One capital formation result stands out. After regulators increased the limits for the Listed Issuer Financing Exemption, hundreds of listed issuers used it to raise almost $4 billion in the first year, at eight times the pace under the original limits.
That is unusually useful regulatory evidence. It doesn't prove the higher limits caused every additional financing, since issuer demand and market conditions also affect activity. But the market used the exemption far more heavily after regulators made it more practical. The result also strengthens a larger question NCFA recently explored around whether Canada can turn access into productive participation rather than stopping at permission on paper.
NCFA reviewed the expanded LIFE exemption when the CSA initially increased how much eligible listed companies could raise without preparing a prospectus for each financing.
The new usage data take that reform beyond policy design. Companies had a less burdensome financing route available and hundreds chose to use it.
Hundreds Of Listed Issuers Raised Almost $4 Billion Through LIFE
The LIFE exemption gives eligible reporting issuers a more efficient way to raise public capital while retaining specified disclosure and investor protections. This matters most when the fixed costs of a conventional financing become large relative to the amount a smaller company needs to raise. A financing route can exist legally and still see limited use if its cost, complexity or timing makes the economics unattractive.
The first year under the higher limits provides evidence that those economics are essential. Hundreds of issuers used LIFE and almost $4 billion was raised, compared with a much lower pace under the previous limits. The important result is not simply that Canada permitted more financing. Issuers actually used the additional room.
That gives regulators a stronger basis for the next round of evaluation. Which companies used LIFE, how large were the financings, what did it cost them to raise the money, how did investors fare and how much activity would have occurred through another route anyway? Those questions can help distinguish a rule that merely looks simpler from one that materially improves capital formation.
CSA Widens Investor Access And Cuts Reporting Costs For Smaller Issuers
The CSA is reducing different forms of friction elsewhere in the market. Eligible venture issuers with less than $10 million in annual revenue can voluntarily file financial results semiannually rather than quarterly under an interim regime. Regulators can use what they learn from that regime when considering permanent rules, making issuer cost and actual market use part of the feedback process.
The proposed self certified investor exemption approaches participation from the investor side. People who satisfy specified education or experience criteria could invest even if they don't meet the financial thresholds for accredited investors, with investments capped at $50,000 per calendar year across multiple businesses. The proposal would give Canadian issuers another potential source of private capital while widening access for investors regulators believe have enough knowledge or experience to understand the risks.
Accredited investor rules largely use wealth and income as proxies for the ability to bear risk, while the proposed exemption would also recognize relevant knowledge or experience. If adopted, its value should eventually be judged by more than the number of investors who become legally eligible. Issuer uptake, investment activity, losses, complaints and other investor outcomes would show whether wider access produces a useful market.
Project Tokenization Brings More Than 240 Organizations Into CSA Work
The same focus on actual market use is reaching new securities infrastructure. NCFA covered the launch of Project Tokenization when the CSA opened stakeholder engagement through the Collaboratory and identified a possible route toward live testing. The CSA now says the project has engaged more than 240 organizations spanning issuers, fintech companies, custodians, marketplaces, clearing agencies, professional firms and other participants.
The CSA Collaboratory gives novel products and market structures a way to engage regulators before launch and can support controlled testing where appropriate. That's important because tokenized securities depend on more than an issuer receiving permission to create a digital asset. Custody, ownership records, trading, settlement, compliance and investor protection all have to work well enough for a product to operate economically.
Tokenization is a more complex extension of the LIFE lesson. LIFE shows what happened after one capital raising constraint was relaxed. The U.S. is also reconsidering how securities rules apply to crypto asset capital raising, including proposals that could expand how much eligible issuers can raise under lighter offering requirements. In Canada, Project Tokenization can show whether regulators and market participants can identify which requirements are essential, which need adapting and which create enough cost or uncertainty to prevent otherwise viable infrastructure from being built here.
Ontario Plans To Join Canada's Securities Passport System
Ontario's commitment to join Canada's securities passport system tackles another longstanding source of friction. Our Ontario securities passport story traced how the province moved from pursuing a national regulator to joining the existing passport model. The CSA says Ontario's participation is intended to strengthen national harmonization, remove interprovincial barriers and reduce regulatory burden for companies doing business across Canada.
For firms operating nationally, duplicated provincial processes can become an operating cost even when the underlying securities requirements are similar. The useful evidence after Ontario joins will be whether companies encounter less duplication, lower compliance costs and easier national market access. Regulatory reform becomes much more informative when policymakers can compare what they changed with what companies and investors actually did afterward.
Lower friction does not mean removing protections wherever market participants find them expensive. The CSA issued 763 investor alerts, cautions and warnings during the year, more than 85% involving crypto assets, and facilitated the deactivation of 11,728 malicious investment websites representing 19,860 URLs.
Some rules clearly protect investors and market integrity. Others may now be costing the market more than they protect.
LIFE gives Canada a rare piece of evidence about that balance. Almost $4 billion and an eightfold increase in financing activity give regulators a reason to look for other places where better calibrated rules could produce more usable markets without sacrificing the protections that keep those markets credible.
Talking Point
If higher LIFE limits were followed by an eightfold increase in capital raised through the exemption, which other securities rules should Canada now test against actual issuer and investor behaviour?
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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How Fintech Is Redefining Employee Health Benefits in Canada
August 21, 2026
Employee benefits have undergone a quiet technological transformation. Not long ago, managing a health benefits plan meant paper forms, printed receipts, mailed claims, and significant administrative work for employers and employees. Over time, insurance providers digitized much of the process. Employees could submit claims online, access their coverage through a website, and eventually manage their benefits from a mobile device.
Today, another shift is taking place. The rise of digital financial infrastructure is making it possible for businesses to rethink not only how benefits are administered, but also what type of benefit they provide in the first place. Instead of purchasing a traditional insurance plan and paying recurring premiums to an insurance provider, some businesses are choosing a Health Spending Account, where the employer establishes a healthcare spending budget and employees are reimbursed for eligible expenses. This development is closely connected to the broader evolution of fintech.
From Paper Forms to Digital Benefits
Traditional employee benefits were built around an insurance model. An employer purchased coverage from an insurer, employees received a defined set of benefits, and claims were processed through the insurance provider. For decades, much of the administration surrounding that process was paper-based. Employees might fill out claim forms, collect receipts, submit documentation, and wait for reimbursement.
The internet gradually changed that process. Insurance providers began offering online portals where employees could submit claims electronically, view coverage details, and track reimbursements. Electronic payments replaced cheques, while digital records replaced much of the paperwork that had previously been required to administer a benefits plan.
The underlying insurance product remained largely the same, but the infrastructure surrounding it became digital. This was an important first step in the digitization of employee benefits, but it also raised a bigger question: if technology can digitize the administration of benefits, can it also change the underlying model?
Beyond Digitizing Insurance
Fintech has repeatedly demonstrated that digitizing an existing process is only the beginning. Payments are a good example. Businesses moved from cash and cheques to credit cards, online banking, electronic funds transfers, and automated payments. Accounting moved from desktop software and paper records to cloud-based platforms, while lending increasingly moved online, with applications, underwriting, and funding taking place digitally.
These developments created something more important than convenience: new financial infrastructure. Once the infrastructure exists, businesses can build entirely new products and services on top of it.
See:
The same thing is happening with employee benefits. Modern benefits platforms can connect employers, employees, financial institutions, and payment systems through software. Claims can be submitted digitally, reviewed electronically, and reimbursed through electronic funds transfer. Once these pieces of infrastructure exist, businesses have more options than simply purchasing a traditional insurance product.
Separating the Benefit From the Insurance Product
This is where Health Spending Accounts become particularly interesting from a fintech perspective. A traditional health insurance plan transfers a defined set of healthcare risks to an insurance provider. The employer pays premiums in exchange for coverage according to the terms of the insurance policy.
An HSA takes a different approach. The employer establishes a defined healthcare spending allocation for employees, and employees submit eligible expenses for reimbursement, subject to the rules of the plan. Rather than purchasing an insurance product that provides a predetermined package of coverage, technology can provide the infrastructure needed to administer a defined healthcare budget.
This distinction opens up an entirely different model for employee benefits. The business can establish the amount it wants to make available, while employees have greater flexibility in how they use that benefit within the eligible expense rules.
Why This Wasn't Always Practical
The concept of giving employees a healthcare spending allowance is not new. What has changed is the infrastructure required to administer it efficiently.
Imagine an employer with 20 employees trying to manage an HSA using paper forms and cheques. Every claim would require documentation. Someone would need to review the expense, calculate the reimbursement, record the transaction, update the employee's available balance, and issue payment. The administrative burden could quickly outweigh the benefit of the flexibility.
Digital infrastructure changes that equation. An employee can submit a claim online, upload supporting documentation, and have the claim reviewed through a centralized platform. The employee's available balance can be updated electronically, while approved reimbursements can be sent directly to their bank account. What once required multiple manual steps can now be handled through a single digital workflow.
Payments Infrastructure Is a Key Piece of the Puzzle
The evolution of electronic payments has been particularly important in making this model practical. Electronic funds transfer (EFT), pre-authorized debits (PADs), and other digital payment infrastructure allow money to move between businesses and individuals without paper cheques or manual bank transfers.
For an HSA platform, this infrastructure can operate on both sides of the transaction. When an employee submits an eligible claim, reimbursement can be sent electronically to their bank account. On the employer side, funds can be automatically withdrawn when claims are approved, allowing the business to fund reimbursements without manually paying an invoice for every transaction.
See: Canada Real-Time Rail Rules And Access Intelligence Guide
The result is a much more automated financial workflow: an employee submits a claim, the claim is reviewed, reimbursement is approved, funds are transferred electronically, and the employer's account is automatically debited. The development of these payment rails is an important part of what makes a digital, claims-based benefits model feasible at scale.
From Fixed Premiums to Usage-Based Benefits
Digital HSA platforms also introduce a different way for businesses to think about benefit costs. With a traditional insurance plan, employers generally pay recurring premiums for coverage, regardless of how much employees ultimately use the plan. An HSA can instead operate on a claims-based model, where the employer establishes a budget but funds are used as eligible claims are submitted.
This can provide small businesses with greater visibility and control over healthcare spending. Rather than paying a fixed premium for a predefined package of coverage, a business can establish how much it is prepared to allocate toward employee healthcare and allow employees to use that allocation for eligible expenses.
This reflects a broader fintech trend toward usage-based financial products. Businesses increasingly expect technology to provide more transparency into where money is going and to reduce the friction involved in moving and managing funds.
Employee Choice Becomes Part of the Product
The digital transformation of benefits is also changing the employee experience. Traditional insurance plans are designed around predefined coverage. An employee may have coverage for certain services but little or no use for others.
An HSA can approach the problem differently. Instead of deciding exactly which healthcare services employees should use, the employer establishes a budget and employees decide how to use that budget among eligible expenses. One employee might use their allocation primarily for dental expenses, while another might have significant vision, physiotherapy, or prescription medication expenses.
This creates a more personalized benefit without requiring the employer to manually manage every reimbursement. The software handles the administrative infrastructure while the employee has greater choice over how to use the benefit.
Fintech Is Changing the Role of the Middleman
This shift reflects a broader pattern across financial technology. Fintech does not always eliminate traditional financial institutions, but it can change where value is created and which parts of a financial transaction require an intermediary.
Digital payment platforms have reduced the need for businesses to rely on traditional payment processes. Online lending platforms have created alternatives to traditional lending channels. Digital investment platforms have reduced some of the friction involved in accessing financial markets.
Similarly, digital benefits infrastructure gives businesses an alternative to relying exclusively on traditional insurance-based employee benefits. The opportunity is not simply to make insurance administration faster. It is to allow businesses to choose a fundamentally different way of delivering healthcare benefits.
This is an important distinction. The innovation is not necessarily that an insurance product has become easier to use online. It is that the availability of digital claims administration and payment infrastructure makes it possible for a business to consider a different financial model altogether.
The Opportunity for Small Businesses
This evolution is particularly relevant to small businesses. Large companies have traditionally had access to dedicated benefits teams, negotiated insurance plans, and significant administrative resources. A five-person business typically does not have those resources.
Digital platforms can make sophisticated financial and benefits infrastructure accessible to businesses that previously would not have had the resources or administrative capacity to manage it themselves. A small business can establish a defined benefit budget, provide employees with access to a digital claims platform, and use electronic payments without building the infrastructure internally.
That can change the competitive landscape. A small business may not be able to compete with a large corporation on salary alone, but it can potentially offer a flexible digital health benefit that employees can use according to their individual needs. Technology effectively lowers the administrative barrier to offering that benefit.
The Next Stage of Digital Benefits
The evolution of employee benefits follows a familiar fintech pattern. First, the paper process was digitized. Then the user experience moved online. Now the underlying financial model itself is being reconsidered.
Health Spending Accounts are one example of what becomes possible when digital claims administration, cloud software, automated payments, and electronic banking infrastructure come together. For businesses considering this approach, understanding how Health Spending Accounts work is an important step in evaluating whether a digital, claims-based benefit model makes sense for their workforce.
The important development is not simply that employees can submit a claim from their phone instead of filling out a form. It is that technology has made it possible to rethink the relationship between employers, employees, insurers, and healthcare spending altogether.
As fintech continues to develop, more financial products may follow the same path: from paper, to digital, to fundamentally different. Employee benefits may be one of the clearest examples of that transition already underway.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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