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
Broadridge Adds On-Chain Governance To Tokenized Equities
Apr 7, 2026 | NCFA Fintech Market Activity | Capital Markets And Market Infrastructure, Digital Assets And Tokenization
Voting And Corporate Actions For Tokenized Shares
On April 6, 2026, Broadridge launched on-chain governance to tokenized equities. The platform now supports proxy voting, corporate actions, and disclosures across traditional and tokenized holdings inside the same workflows institutions already use.
Broadridge is bringing real scale into this launch. The company says its tokenization capabilities already process $8 trillion in tokenized assets per month. It also says its technology platforms process and generate more than 7 billion communications annually and support the daily average trading of more than $15 trillion in tokenized and traditional securities globally.
This is significant because governance is one of the harder parts of tokenized equity infrastructure. Issuing a tokenized share is one step. Running the rights attached to that share is another. Broadridge now gives issuers a single view across registered, beneficial, and tokenized holdings, which makes governance easier to manage across the cap table.
See: ECB Sets A Roadmap For Tokenized Finance Infrastructure
Broadridge already confirmed a real public company use case with Galaxy planning to use the capability for its annual meeting and shareholder vote in May with native tokenized shares on Avalanche.
The company is also extending a tokenized market stack that already has live operating volume. In January 2026, Broadridge’s distributed ledger repo platform processed $365 billion in average daily volume, with total monthly volume of $7.3 trillion, up 508% from January 2025. Broadridge isn't entering tokenization from the sidelines, but rather extending existing market infrastructure into tokenized ownership.
Institutions don't only need tokenized shares. They need voting rights, disclosures, and corporate action controls that work inside familiar systems. That also builds on tokenized money market fund infrastructure from Goldman Sachs and BNY, where the market has already started solving issuance and settlement in a more usable way.
For issuers, custodians, and market operators, it makes tokenized equities easier to use and track inside real workflows. If governance is streamlined institutions have less friction and fewer reasons to hold back.
Talking Point
If tokenized equities can now handle voting and corporate actions inside existing workflows, which part of the traditional equity stack faces pressure next?
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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Coinbase Wins Conditional OCC Trust Approval
Apr 6, 2026 | NCFA Fintech Market Activity | Digital Assets And Tokenization, Regulation And Policy
Federal Custody Framework For Crypto Infrastructure
On April 2, 2026, the Office of the Comptroller of the Currency OCC granted conditional approval for Coinbase National Trust Company. The trust company would be a wholly owned Coinbase subsidiary in New York focused on digital asset custody for institutional clients.
The approval is still preliminary. Coinbase must meet pre-opening requirements before the trust company can open, and the OCC can modify, suspend, or rescind the approval before final authorization.
The scope is narrower than a normal bank charter. The trust company would engage in fiduciary and related trust activities, including digital asset custody and certain transactional services tied only to custodied assets. It would also hold fiat in for-benefit-of accounts at third party banks and provide access to affiliate services such as staking, prime trading, and prime financing for custody clients.
See: SEC Crypto Interpretation Resets Market Structure
It's not a deposit taking bank. Greg Tusar Co-CEO, Coinbase Institutional put it directly when announcing the conditional OCC Trust approval: “We will not be taking retail deposits. We will not be engaging in fractional reserve banking.” The charter is built around safekeeping assets and supporting custody led infrastructure, not consumer banking.
For institutions, a single national trust framework is simpler than a patchwork of state supervision. Coinbase currently performs custody through a New York State chartered trust company, and the OCC decision states that business is expected to migrate to the national trust company during the first three years after launch.
An OCC federal charter has immediate commercial value because it can make custody mandates easier to win and related infrastructure easier to build. It's aligned with the wider US trust charter debate around crypto banks, where federal oversight can reduce dependence on fragmented state licensing and give institutions a more familiar legal perimeter for custody and payments.
The OCC noted that uninsured national trust banks under its supervision held $7.0T in assets under administration as of Dec. 31, 2025, including $1.7T in custody and safekeeping accounts. Coinbase is putting digital asset custody inside a federal trust structure that institutions already understand.
Talking Point
If crypto custody starts consolidating around federal trust structures, which firms gain the strongest edge with institutions?
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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Monzo Exit Shows Challenge of US Retail Banking
Apr 6, 2026 | NCFA Fintech Market Activity | Banking And Credit
US Consumer Banking Demands Scale, Patience, and Costly Distribution
On Mar 31, 2026, Monzo said it will close its US business, stop onboarding new customers, and allow existing accounts to run until June. The closure will cut about 50 roles and allow Monzo to refocus on the UK and Europe, where it already has 15 million UK customers and a European banking licence.
We've seen this move before when in the midst of Covid-19, N26 exited the US and shut down it's service in 2021 impacting about 500,000 customers. Together with Monzo, that makes two major European digital banks have now reached the same conclusion. The US retail opportunity is large, but building from zero is expensive and slow.
What Broke The Case
It's not due to lack of ambition, but rather economics. Consumer retail banking gets costly fast when a firm has to build customer acquisition, trust, servicing, compliance, and product depth all at the same time.
And it's a very different job from selling infrastructure into merchants or enterprises. It also lines up with retail banking platform funding trends, where capital still matters but deployment discipline matters more.
See: Consumer Trust and Trends in US Digital Banking
Monzo and N26 both pulled back as the cost of building U.S. retail scale from zero outweighed the near term case for staying. Once growth takes longer than expected, the expansion case gets expensive fast.
Why Some Models Still Work
There are other ways in. Spanish bank Santander launched a US digital bank to help fund up to $30 billion in vehicle loans, backed by an existing US branch network with 409 branches and more than $45 billion in retail deposits.
Revolut is taking another route. In March 2026, Revolut filed for a US bank charter, named a new US CEO, and said it plans to invest $500 million over the next three to five years. The company is also making that push from a much larger base, with roughly 70 million clients across 40 markets.
An acid test question is whether the model enters the US with enough capital, enough time, and enough local operating advantage to survive the build.
For Canadian challengers, it's a reminder that the US isn't just a bigger version of home, but a heavier market to enter. The strategy only works if the economics can carry years of distribution cost and operating drag before retail scale pays back. That's why physical banking expansion in US growth markets still counts on some level. In retail banking, local presence, funding, and trust still work some magic.
Talking Point
Monzo’s exit shows how expensive consumer retail banking gets when a firm has to build trust, distribution, and scale from zero. For Canadian challengers, that is the real question. Not whether the market is big enough, but whether the economics can hold long enough to make sense.
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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Ten AI Music Platforms That Deserve Serious Attention
April 6, 2026
For a long time, music creation was divided between two groups: people with ideas and people with the technical ability to execute them. That divide was not always about talent. Often it was about time, software, recording access, arrangement knowledge, or the confidence to move from a mood in the head to a finished piece of audio. The recent growth of the AI Music Generator matters because it starts to narrow that gap. Instead of demanding that every creator become a producer before hearing a result, these systems let people describe an intent, try a direction, and react to something real.
That shift sounds simple, but it changes more than convenience. It changes who gets to start. It changes when a musical idea enters a project. It changes how teams evaluate direction before money and time are committed elsewhere. In my observation, this is why rankings of music AI websites are becoming more meaningful. The question is no longer whether a machine can make sound. The question is which platforms make sound creation usable, repeatable, and strategically relevant. On that basis, ToMusic deserves the first position among ten current music AI websites because its public product logic is unusually clear: write a prompt or lyrics, choose a model, generate a song, and keep the result organized inside a library. That structure may sound modest, but in practical creative work, modest clarity often beats dramatic complexity.
The Ranking Needs A Better Standard Than Hype
Many music AI lists still read like collections of names rather than evaluations. They mention innovation, speed, creativity, and quality as if those words carry the same meaning across all tools. They do not. A more useful ranking needs stronger filters.
Practical Fit Matters More Than Spectacle
The best tool is not always the one that produces the most surprising first result. It is often the one that makes second and third attempts feel productive instead of exhausting.
Starting Friction Should Stay Low
A creator should not need ten minutes of interpretation before entering the first prompt. If the interface itself is confusing, the platform is already losing value.
Variation Should Feel Useful
One of the real strengths of music AI is that it can surface multiple directions quickly. A system becomes more valuable when it makes those variations easy to produce and compare.
Output Should Travel Into Real Work
A track can be imperfect and still useful if it helps with testing, storytelling, ad drafts, teaching material, concept development, or internal alignment.
The Ten Music AI Websites Worth Ranking
When I apply those filters, this is the list that feels most useful for creators in 2026.
| Rank | Platform | Best Fit | Most Useful Strength | Main Constraint |
| 1 | ToMusic | Prompt-based songs and lyric-led drafts | Clear multi-model workflow with saved library | Better prompting still improves outcomes |
| 2 | Suno | Fast full-song generation | Very accessible and quick to hear results | Broadness can reduce precision |
| 3 | Udio | More deliberate iteration | Stronger for users who revise carefully | Slightly less casual in feel |
| 4 | AIVA | Composition and soundtrack structure | Good for more formal musical thinking | Less immediate for everyday creators |
| 5 | SOUNDRAW | Commercial background music | Useful editing and project orientation | Often stronger for utility than vocal songs |
| 6 | Mubert | Fast media-ready tracks | Efficient for creator workflows | Less songwriter-centered |
| 7 | Beatoven | Scoring for podcasts and video | Practical support music generation | More functional than expressive |
| 8 | Loudly | Creator-first music production | Friendly to content workflows | Depth can vary by project |
| 9 | Boomy | Instant entry for beginners | Very low barrier to first output | Serious creators may outgrow it |
| 10 | Stable Audio | Detailed prompt-based audio work | Good for structured experimentation | More technical than intuitive |
Why ToMusic Sits At The Top
ToMusic ranks first because it appears to understand what most users actually need from music AI: not unlimited theory, but a reliable way to move from intention to audible draft.
Its Public Product Story Is Easier To Trust
Some platforms present too many possibilities at once. Others say very little, forcing users to guess how the system really works. ToMusic seems stronger because the visible workflow is readable. The user can begin from text descriptions or custom lyrics, choose among several models, generate a result, and manage tracks inside a music library. That sequence reduces uncertainty.
Multiple Models Change The Way Users Evaluate Results
This is more important than it sounds. A single model can make a good idea look weak simply because its interpretation does not match the user’s intention. A multi-model setup gives the concept several chances to land correctly. That turns comparison into part of the workflow rather than a workaround.
It Fits Both Quick Drafting And Ongoing Reuse
A lot of music AI products are good at creating a moment of surprise. Fewer are good at supporting repeated work. ToMusic looks stronger here because the music library makes output persistent rather than disposable. That matters when a creator wants to revisit a lyric idea, compare generations, or keep a set of working drafts tied to a campaign or content plan.
How The Official Workflow Actually Helps
The public process on ToMusic is short, but the simplicity is the point. A useful product does not always need more steps. It needs the right ones.
Step One Defines The Request Clearly
The user starts from a text description or custom lyrics. This step turns vague creative intent into a usable instruction. Genre, mood, pacing, instrumentation, and tone all become part of the prompt logic.
Step Two Selects The Model Direction
Instead of forcing every request through one black box, the platform offers several models. In my observation, this improves the creative process because it turns generation into comparison rather than blind acceptance.
Step Three Produces A First Song Draft
The generated result becomes the first real thing the user can react to. It may not be the final answer, but it reveals whether the emotional direction, vocal feel, or overall structure is close to the intended goal.
Step Four Saves The Result For Continued Use
The library matters because generative work tends to produce multiple viable ideas. Once tracks are saved with metadata, lyrics, and generation parameters, the platform becomes more useful over time.
What Makes The Other Nine Worth Considering
The rest of the top ten still matter because each solves a slightly different version of the music problem.
Suno Wins On Immediate Momentum
Suno remains one of the easiest ways to move from a short idea to a full song. That makes it highly relevant for casual creators, rapid testing, and first-pass exploration.
Udio Rewards Patience
Udio often feels better for users who want to stay with an idea longer. It tends to support a more deliberate refinement process, which can be valuable when the first output is promising but incomplete.
AIVA Still Matters For Structure
AIVA is useful when the creator thinks more compositionally than conversationally. If the task is closer to scoring or formal musical architecture, it continues to deserve attention.
SOUNDRAW, Mubert, And Beatoven Shine In Utility Work
These tools make particular sense when music serves a project rather than becomes the center of it. Ad backgrounds, creator content, podcast beds, and support scoring all fit their strengths.
Loudly, Boomy, And Stable Audio Broaden Access
Loudly leans into creator ecosystems. Boomy removes friction for beginners. Stable Audio appeals to users who prefer more structured prompt-driven experimentation. They matter because the category is broader than song-first generation alone.
Where Text To Music Changes Real Creative Behavior
The real significance of Text to Music is not just speed. It is the way it lets creative work begin earlier. Music no longer has to wait until late-stage production.
This Changes How Teams Test Ideas
A brand team can try several emotional directions for a product launch without waiting for a traditional music pipeline. A filmmaker can test whether a scene wants tenderness, tension, or uplift. A teacher can turn a concept into a memorable musical form. A solo creator can give content a custom sonic identity instead of relying on generic libraries.
Prompting Becomes A New Creative Skill
This is worth saying clearly. AI does not erase human judgment. It relocates it. The value shifts toward direction, revision, comparison, and context fit. Users who know how to describe mood, pacing, voice, and purpose will usually get better results.
The Category Still Has Real Limits
No ranking becomes more credible by pretending these tools are flawless. They are not. Song quality can vary across generations. Vocal phrasing can still feel uneven. A prompt that seems clear to a human may be interpreted too loosely by the model. Sometimes the right result arrives on the third try, not the first.
That does not make the tools weak. It simply means they should be used with the right expectations. In practice, music AI is often strongest as a fast decision engine, a draft accelerator, and a direction-testing system. It becomes less convincing when users expect mind reading.
Why ToMusic Feels Especially Important Now
What makes ToMusic stand out is not that it claims to solve every musical problem. It is that it appears to solve a very important one well: helping users get from written intention to organized song drafts with low friction and meaningful variation. That is exactly where many creators are blocked.
See: Bringing Good Ideas to Life: 13 Modern Ways to Innovate
In a field full of noisy claims, that kind of product discipline matters. ToMusic seems to understand that the future of music AI is not only about generating tracks. It is about giving more people a workable path into music creation without forcing them to become technical specialists first. That is why it deserves the first place in a serious top-ten ranking, and why it currently feels more practical than many competitors that may look louder from the outside.
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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DeFi Lending Data Exposes Leverage And Liquidation Risks
Apr 3, 2026 | NCFA Fintech Market Insight | Digital Assets Blockchain And Tokenization
Aave V3 data shows where returns and losses concentrate
On April 2, 2026, a DeFi lending risk analysis using Aave V3 data from the Bank of Canada analyzes transaction data on Ethereum to find a market that works operationally, but depends on narrow revenue pools, heavy overcollateralization, and fast liquidation when collateral prices fall.
The paper focuses on Aave V3 because it is the largest decentralized lending protocol by total value locked. It cites about $34 billion secured in smart contracts, roughly 25% of all DeFi TVL and about 50% of lending sector TVL. The data analyzed runs from January 27, 2023 to May 6, 2025, which gives the study enough depth to study how the model behaves in live market conditions and not just theory.
Returns Concentrate In A Small Set Of Aave V3 Assets
The earnings base is much narrower than the deposit base. On Aave V3, WETH, USDT, and USDC generate nearly 83% of total protocol earning in the sample. That doesn't mean the same pattern holds across the entire DeFi lending market, but it does show the largest lending protocol still relies heavily on a small set of assets to produce revenue.
See: Bank of Canada Paper: Fragility of DeFi Lending
Supply alone does not tell you much. Utilization does. A token can hold a large share of deposits and still contribute very little if borrowing demand stays weak. So careful about judging a lending model by total deposits alone. Look at it by which assets actually generate borrow demand, spread income, and recurring usage.
The comparison with banking makes the constraint clearer. In 2024, Aave V3 posts an estimated 0.64% net interest margin, versus 2.48% for major US banks and 1.69% for major Canadian banks.
Aave V3 also shows a 40.0% loan to deposit ratio, compared with 61.2% for major US banks and 74.2% for major Canadian banks. The model runs with lower overhead, but it also runs with tighter economics and lower capital efficiency.
Leverage Used By Small Group Of Users
Repeated borrowing and redepositing of the same collateral accounts for about 20.46% of total borrowed volume and 8.20% of borrowing transactions on Aave V3.
Only about 2% of active users engage in this behaviour, but that small group borrows more often, takes larger positions, uses more flash loans, and runs closer to liquidation.
See: Ledn Bitcoin Backed ABS Deal Enters Institutional Markets
Risk isn't evenly spread across the user base, but with a relatively small group of sophisticated users who amplify exposure through repeated borrow and redeposit loops. A protocol can look healthy at the aggregate level while vulnerability builds inside a small cluster of accounts.
Liquidations Hit In Waves
The largest liquidation wave in the sample reached about $258 million, and the top ten waves account for roughly 80% of total liquidated volume.
WETH, wstETH, WBTC, and weETH account for about 90% of total liquidated value. Collateral diversity on paper is not the same as resilience in practice. When account stress rises, losses still cluster around a small set of core assets.
Price Drops Trigger Most Losses
For all liquidated users, 84.40% of health factor deterioration comes from collateral price declines. For the largest borrowers, that rises to 97.28%. Interest rate changes play only a minor role in the hour before liquidation. So do borrower actions like repaying, withdrawing, borrowing, or supplying more assets.
See: ECB Sets A Roadmap For Tokenized Finance Infrastructure
Immediate risk is mostly market driven. If collateral drops hard enough, the position breaks. Everything else is secondary.
Borrower Losses Add Up Fast
Liquidation fees range from about 5% to 10% of liquidated value. When missed upside from post liquidation price recovery is added, combined borrower losses can reach roughly 10% to 30%.
Automation protects lenders and preserves solvency, but it forces borrowers out at the worst possible time. That raises a harder design question. How do you reduce forced exits before volatility does the damage?
Better Risk Design Needs Broader Collateral
The authors highlight tokenized real world assets as a way to broaden the collateral base and improve stability. They point to decentralized identity frameworks to support better underwriting.
They also raise the question of prudential tools such as leverage limits, capital requirements, or liquidity thresholds.
See: Slate Raises $1.3M for Embedded Lending in Canada
Concentration risk in DeFi isn't just exposure to a single token. It's dependence on a narrow collateral base, a narrow earnings base, and a narrow set of highly leveraged users. Broader collateral, stronger underwriting signals, and tighter limits can each address a different part of that problem.
What This Means For Builders And Market Operators
Focus on where revenue actually comes from. If earnings depend on a small number of assets, growth is more fragile than it looks.
Track who drives leverage, not just how many users exist. A small group can shape downside risk.
Improve collateral quality, not just collateral variety. Adding assets does not reduce risk if stress still runs through the same core tokens.
Build liquidation buffers into the product. Earlier warnings, better position visibility, and automated risk controls can reduce forced selling.
The strategic takeaway is DeFi lending demand isn't the issue, but rather risk concentration is. The platforms that stand out will spread exposure across better collateral, reduce reliance on highly leveraged users, and design systems that hold up when prices drop. That's how the model can mature from access to durable 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 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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Canada vs Singapore: Different Tax Approach On Innovation
NCFA Insight | Innovation Policy And Funding
Canada Funds Build While Singapore Backs Growth
Canada and Singapore show two different ways to support innovation, and both compete to attract fintech, AI, and venture backed companies deciding where to build and grow. Singapore ranks among the strongest fintech hubs globally and remains especially prominent in Asia, which makes it a useful comparison for fintech policy, capital, and scale.
On March 26, 2026, Bill C-15 received Royal Assent, confirming stronger SR&ED support in Canada and adding more structure to the country's financial modernization agenda, including establishing Canada’s digital finance framework. Singapore combines tax relief with capital programs and AI incentives. For fintechs, AI firms, and other innovation led companies, the split affects where investment flows and where growth gets easier.
| Category | Canada | Singapore |
|---|---|---|
| Primary tax support | 35% enhanced SR&ED credit | 40% corporate income tax rebate |
| Core cap | Up to $6M of qualifying expenditures | Up to S$30,000 rebate |
| Additional incentive | Capital expenditures become eligible again | 400% AI deduction up to S$50,000 and S$1,500 minimum cash grant |
| Eligibility expansion | Taxable capital phase out widens to $15M to $75M and eligible Canadian public corporations can qualify | Firms with at least one local employee in 2025 can qualify for grant support |
| Capital programs | No new direct capital pool introduced in this package | New and expanded capital pools in the same policy package. S$1B Startup SG Equity, S$1.5B Anchor Fund, S$1.5B Financial Sector Development Fund |
| Best fit | Engineering heavy firms with high technical build cost | Firms prioritizing expansion, hiring, AI adoption, and capital access |
| What it solves best | Build cost recovery | Commercial growth support |
Canada Improves Conditions For Builders
Canada’s Bill C-15 SR&ED package benefits Canadian builders with heavy engineering, product, infrastructure, and technical development cost that arguably improves improves the case for keeping technical work in Canada. The benefit is strongest for fintech infrastructure, regtech, cybersecurity, AI, and data firms with deep product build requirements.
Tax support helps recover build cost. It doesn’t remove procurement drag, customer acquisition cost, distribution bottlenecks, startup visas or the need for growth capital. Firms can extend build runway. Commercial traction still depends on distribution, procurement, and growth capital.
Singapore Connects Tax Relief To Scale-Ups
Singapore’s company level tax benefits are smaller, but the package covers more of what companies need to expand. The package links tax relief to hiring, AI adoption, and capital access. That creates a stronger environment for companies that are past early product build and now need market reach, talent depth, and financing support.
Singapore’s National AI Impact Programme aims to support up to 10,000 enterprises and 100,000 workers over three years.
The Competitive Question
Canada improves build economics. Singapore provides more support for expansion and growth.
A company building core infrastructure, compliance tools, fraud systems, or AI models may gain real value from stronger SR&ED support in Canada. A company focused on enterprise sales, regional rollout, hiring, or capital access may still find stronger operating support in Singapore, a system built around expansion.
See: Canadian Innovation Leaves Again in Alphawave’s $2.4B Exit
Canada is more attractive now for engineering heavy firms. The harder question is whether companies can also scale here more easily. If not, Canada still risks producing valuable technology that may end up growing elsewhere.
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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Canada’s Artemis II Moment Challenges How We Build
Apr 3, 2026 | NCFA Innovation Perspective | Moonshot Thinking
A Reminder Of What Big Thinking Takes
On April 1, 2026, Canada’s Artemis II mission reaches launch as Canadian astronaut Jeremy Hansen boards NASA’s Orion spacecraft, becoming the first Canadian and first non American on a mission beyond Earth orbit to the Moon.
It’s the first crewed Moon mission since 1972, and the 10 day flight around the Moon is designed to carry humans further from Earth than any mission before. For Canada, it’s proof that bold ambition still counts when a country backs talent, engineering, and strategic partnerships over a long stretch of time.
Artemis II isn’t the result of a quick push or a short funding cycle. It reflects decades of work in robotics, advanced systems, and international collaboration. Canada didn't get this seat by accident. It earned it. More founders, investors, institutions, and policymakers should stop and think about that.
This Didn’t Happen Overnight
Big outcomes rarely appear overnight. By the time the world sees the launch, the hard part has already been building quietly for years. Artemis II carries four astronauts around the Moon and back. Hansen’s place on that crew shows that Canada still plays a meaningful role in one of the most important technology programs now underway. That role is tied to long term Canadian contributions in space robotics, including the Canadarm legacy and Canada’s Canadarm3 commitment to the Lunar Gateway.
Ambition on its own is cheap. Everyone says they want to build big things. What matters is whether people keep going when the payoff is far away, the standards stay high, and the result is still uncertain. Artemis II shows what can happen when the mission stays clear and people stay committed.
This Is Bigger Than Space
This reaches far beyond aerospace. In fintech, financial infrastructure, artificial intelligence, and other serious technology sectors, people often talk about transformation. But real transformation asks for something uncomfortable. It asks for patience from backers, fellow builders and community. It asks for coordination. It asks for institutions that can think beyond the next quarter.
See: Life Isn’t Linear: Curveballs and Strikeouts
If Canada wants stronger digital identity systems, better financial infrastructure, more globally competitive AI companies, deeper capital markets, and more durable domestic champions, it can’t keep thinking small and expect outsized results. Those goals take time. They take conviction. They take leadership that sticks with the work long enough for the advantage to build.
Artemis II gives Canada a live example of what that looks like when the bet is real, the timeline is long, and the standard doesn’t drop.
Canada Doesn’t Have A Talent Problem
Canada has talent. It has real technical depth. It has researchers, engineers, operators, and builders who can compete globally. What it often lacks is the willingness to place bigger bets and stay with them long enough. Artemis II is important for at least one key moonshot innovation reason. It exposes a familiar Canadian habit. We talk like a country with big potential, then act like one that is afraid to commit.
This mission shows that Canada can still contribute at the highest level when it decides to stay in the game. It also shows that credibility is earned over time. You don’t get invited into missions like this because people are being polite. You get there because your contribution is important and your capability is trusted. That should sound familiar to anyone trying to build a serious company in a serious market.
So What Does Bigger Thinking Actually Look Like
Moonshot thinking does not mean reckless thinking. It means taking on problems that are hard enough to matter and important enough to justify sustained effort. In practical terms, that could mean building financial infrastructure that removes friction across the system, creating AI tools that solve real regulated workflow problems, or designing funding models that help strong Canadian companies scale here instead of leaving early.
See: Canada’s Innovation Paradox – Strong Start, Missing Impact
At first, that kind of ambition can look expensive, slow, or unrealistic. Later, it often looks obvious. That’s how breakthroughs actually play out. Artemis II is a reminder that countries don't build lasting relevance by backing lots of small bets. t’s built by committing to the work that defines what comes next.
This Can’t Be A One Off
Jeremy Hansen’s flight around the Moon gives Canada a rare public moment people can feel right away. The deeper value sits underneath that moment. This mission shows what long horizon ambition looks like when people actually follow through. It shows younger builders what serious technical achievement looks like. It shows investors and policymakers that long cycle bets can produce real global relevance. And it shows that Canada still has the ability to achieve moonshots when it chooses to commit.
The question now is whether Canada treats Artemis II as a celebration or as a standard. One gives us a proud moment. The other gives us something much more valuable. It gives us permission to think bigger, build longer, and stop pretending that incremental ambition will somehow produce exceptional results.
If this is what Canada can build over decades, what are you building today that is worth the same commitment?
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