Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Online Funding / Investing Portals
CFA Stops Rebuildingsociety’s Binance Crypto Promotions
Regulation | Oct 11, 2023
Image: Unsplash/Markus Winkler
The Financial Conduct Authority (FCA) has halted rebuildingsociety.com, a peer-to-peer platform, from approving financial promotions for Binance and other crypto asset firms.
The FCA has been unyielding in its regulatory stance, particularly towards cryptocurrency promotions. A recent statement from the FCA reveals that 146 alerts were issued about cryptoasset promotions on the first day of the new regime alone. The regulatory body expects various businesses, including social media platforms, app stores, and search engines, to heed these alerts and play a pivotal role in shielding UK consumers from illegal promotions.
See: FCA’s Expectations for UK Cryptoasset Businesses and the Travel Rule
The FCA’s New Crypto Marketing Regime
Since October 8, 2023, firms aiming to promote cryptoassets in the UK are mandated to be authorized or registered by the FCA, or have their marketing approved by an authorized firm.
The FCA’s rules necessitate that promotions be clear, fair, and not misleading, and must be accompanied by prominent risk warnings. Furthermore, they should not improperly incentivise individuals to invest. This regulatory shift aligns cryptoassets with other high-risk investments and applies to all firms marketing cryptoassets to UK consumers, irrespective of the firm’s geographical location or the technology utilized for promotion.
Binance and Rebuildingsociety.com Partnership Under Scrutiny
Binance, despite being unregulated in the UK, announced a new domain for UK users and declared that rebuildingsociety.com would be responsible for approving its marketing and communication materials. However, the FCA’s intervention has cast a shadow over these plans.
See: SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exit
Binance has emphasized its substantial investment in ensuring compliance with the FCA's rules and highlighted that their agreement with Rebuildingsociety.com was shared with the FCA well before the enforcement of the updated Financial Promotions Regime.
Rebuildingsociety.com, on the other hand, has expressed its commitment to exceeding regulatory requirements and safeguarding consumers. Despite its waiver request for additional compliance time being rejected, the platform plans to appeal against the FCA’s restrictions and the waiver request denial.
Navigating Regulatory Waters
The FCA’s robust action and the new financial promotion rules for cryptoasset promotions are in alignment with its core commitments to reduce and prevent serious harm, set and test higher standards, and promote competition and positive change, as laid out in the 2023/24 Business Plan.
See: FCA Uses New Tools to Catch 14X more Mis-leading Ads than Last Year
The ongoing situation serves as a reminder for platforms operating in this sphere, emphasizing the necessity to remain abreast of regulatory developments and to ensure that operations are in strict compliance with the prevailing norms.
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
 |  |  |
|---|---|---|
 |  |  |
Clearco Secures $60M Series D, Recapitalization
Funding | Oct 6, 2023
Image: Unsplash/Jim Wilson
In a striking rebound, Clear Finance Technology Corp., widely recognized as Clearco, has successfully secured a pivotal round of funding, navigating through a potential turnaround.
The recent recapitalization efforts, including a noteworthy $60 million Series D round and a new asset-backed financing facility, have provided Clearco with up to $100 million in financing capacity.
The recapitalization not only symbolizes a turnaround for Clearco but also underscores its resilience and strategic recalibration amidst challenges, including staff layoffs and the departure of co-founder and CEO, Michele Romanow.
See: DealPoint Wins Digital Commerce Calgary Fintech Awards $125K
The company, now under the leadership of CEO Andrew Curtis, has pivoted its product focus towards its Invoice Funding product, offering predictable payment amounts and user-friendly terms, thereby aligning with the current and future needs of e-commerce businesses.
Clearco, renowned for utilizing AI and proprietary machine learning technologies to underwrite businesses, has been instrumental in aiding customers to fund inventory and marketing invoices, ranging from $10,000 to $2 million.
To date, the company has financed over 10,000 companies, injecting more than $2.5 billion into various businesses, thereby fostering growth and innovation across multiple sectors.
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
| | |
|---|---|---|
| | |
Kraken’s Strategy for Canadian Market Growth
Crypto | Oct 4, 2023
Image courtesy of Kraken blog
Kraken bolsters its Canadian offering
In a recent blog post titled "Kraken bolsters its Canadian offering" Kraken discusses several key updates regarding their services in Canada.
About Kraken
- Kraken, founded in 2011 by Jesse Powell, is based in San Francisco, California, USA. The platform was developed in response to the catastrophic failure of the Mt. Gox exchange and was designed with the aim of providing a secure and advanced option for cryptocurrency traders. Since its inception, Kraken has grown to become one of the largest and most respected cryptocurrency exchanges in the world.
- In March 2023, Kraken filed their pre-registration undertaking (PRU) with the OSC allowing them to operate while their application is reviewed. The OSC hosts a registration and pre-registration page on their website confirming that Kraken (Payward Canada Inc.) had filed their PRU.
- Kraken emphasizes its commitment to adhering to local regulations while providing Canadians with optimal crypto access.
Canadian Updates
1. Expanded Interac e-Transfer Funding
- Kraken has introduced Interac e-Transfer as a funding option for all Canadian clients, available across its Mobile and Web platforms.
- Interac e-Transfer, which is utilized by 90% of Canadians to send CAD electronically, facilitates over a billion transactions annually.
- To celebrate the new feature, Kraken has lowered its Interac e-Transfer fee to 0.95%.
See: Bitbuy and Localcoin Partner Boosting Crypto Access in Canada
2. New Coin Listings
- Kraken is set to list eight new crypto assets for trading in Canada, which include Astar (ASTR), Audius (AUDIO), Centrifuge (CFG), Moonbeam (GLMR), GensoKishi Metaverse (MV), Perpetual Protocol (PERP), Sui (SUI), and Woo Network (WOO).
- More assets are expected to be added over time.
3. Board Appointment
- Dina Mainville, a cryptocurrency regulatory compliance specialist and founder of Collisionless, has been appointed to the Payward Canada board of directors.
- Dina has extensive knowledge in money laundering controls for blockchain assets and has advised numerous Global Fortune 500 companies on blockchain initiatives. She has also trained numerous government and law enforcement professionals on cryptocurrency forensic investigation strategies.
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
| | |
|---|---|---|
| | |
Ether Futures ETFs Launch. VanEck Commits 10% to Developers
Crypto | Oct 3, 2023
Image: Unsplash/DrawKit Illustrations
Three U.S. investment managers, ProShares, VanEck, and Bitwise Asset Management, have launched the first futures-based exchange-traded funds (ETFs) tied to the value of ether, the world's second-largest cryptocurrency.
A total of six new funds allow investors to engage in exchange-traded products based on ether for the first time.
- BitWise Ethereum Strategy ETF (AETH), 0.85%
- Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), 0.85%
- ProShares Ether Strategy ETF (EETH), 0.95%
- ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE), 0.95%
- Bitcoin & Ether Market Cap Weight Strategy ETF (BETH), 0.95%
- VanEck Ethereum Strategy ETF (EFUT), 0.66%
On their first day of trading, the funds experienced trading volumes totaling $1.92 million. These funds vary by strategy, structure, and cost, and more ETFs tied to ether futures are expected in the future.
See: Historic Nod from Regulators. Coinbase Secures Approval for Crypto Futures Trading
The ProShares Ether Strategy ETF was the largest single fund, with trading valued at $878,560.
The launch of these ETFs does not indicate a change in the SEC's position on spot bitcoin ETFs, which continue to face significant regulatory challenges
The SEC has historically denied all spot Bitcoin ETF applications, citing concerns over investor protection from market manipulation.
VanEck commits to donate 10% of all Ether futures ETF profits to Ethereum’s core developers for a decade.
VanEck’s decision to financially back Ethereum’s core developers, specifically the Protocol Guild, is a testament to the firm’s belief in the symbiotic relationship between traditional finance (TradFi) and decentralized finance (DeFi).
This initiative not only underscores the importance of supporting the developers who are the backbone of the cryptocurrency’s infrastructure but also sets a precedent for other asset managers to follow. The Protocol Guild, comprising over 150 developers, has been instrumental in maintaining and advancing Ethereum’s core technology, thereby facilitating the growth and stability of the Ethereum blockchain.
See: The Race for Ethereum Futures ETF Applications
Other crypto-native communities and platforms, including Lido Finance, Uniswap, Arbitrum, Optimism, ENS Domains, MolochDAO, and Nouns DAO, have also extended their support to the Ethereum network in various capacities. Over the past few years, core developers have received contributions totaling over $12 million, which are then judiciously distributed among its members based on their contribution periods.
A Long Time Coming
The launch of Ether futures ETFs by VanEck, ProShares, and Bitwise Asset Management heralds a new era in the integration of cryptocurrency within traditional investment avenues, providing investors with novel opportunities to delve into the digital asset space.
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
| | |
|---|---|---|
| | |
Aquanow Unveils the AQN Digital Ventures Fund for Nextgen Blockchain Startups
Launch Release | Sep 25, 2023
Canadian digital assets infrastructure provider, Aquanow, unveils its latest venture: the AQN Digital Ventures Fund.
Aquanow Overview
- Founded in 2018, headquartered in Canada with offices in Toronto and Vancouver. Aimed at pioneering digital assets investment funds for Canadians in a transparent manner. Team strength of over 100 professionals.
- AQN Digital is a wholly owned subsidiary of Aquanow
- CEO Phil Sham has a background in traditional finance, with roles at Connor, Clark & Lunn Financial Group and CIBC.
- Regulatory Moves in 2022:
- Registered AQN Asset Management, Ltd. with regulatory authorities in British Columbia and Ontario.
- Aimed at pioneering digital assets investment funds for Canadians in a transparent manner.
The Fund
- Already invested over $1 million in seven companies. Notable investments include BoomFi and Mash.
- Fund valuation stands at $13.4 million CAD ($10 million USD). Comprises individuals and entities closely associated with Aquanow, including early investors and long-standing customers (especially ventures that align with Aquanow's core business of digital asset infrastructure and liquidity).
- Targeting early-stage investments in blockchain technologies, payments, infrastructure, and compliance within the crypto domain.
- Aims to invest between $100,000 and $500,000 per venture, and plans to make one to two additional investments monthly.
Michael Kwok:
See: Canadian Government Publishes Report with 16 Recommendations: Calls for a National Blockchain Strategy to Support Adoption and Industry Growth
- Emphasizes the importance of having a trusted partner like Aquanow in the crypto landscape.
- Highlights the current phase of the crypto cycle where seasoned operators are launching businesses.
- Backing founders with a strong vision in the crypto space.
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
| | |
|---|---|---|
| | |
Solid World, KlimaDAO, and SCB Group Unite for a Sustainable Future
Carbon Markets | Sep 21, 2023
Solid World, KlimaDAO, and SCB Group announce partnership to deploy prepaid carbon liquidity using blockchain technology, enhancing efficiency and transparency in the carbon market.
With global climate challenges on the rise, there's a pressing demand for clear, efficient, and adaptable carbon market strategies. The new alliance between KlimaDAO, SCB Group, and Solid World highlights the next phase in carbon market dynamics, shedding light on the potential impact and direction of this collaboration.
- KlimaDAO is at the forefront of blockchain-based carbon credit solutions, dedicated to fostering a sustainable future. With a vision to revolutionize the carbon market, KlimaDAO provides cutting-edge market infrastructure, ensuring transparency and efficiency in carbon trading.
- Solid World (an NCFA Industry Partner) offers innovative infrastructure solutions pioneering the next generation of carbon market platforms. Solid World's infrastructure stands out for its ability to create a liquid market for prepaid carbon credits that are yet to be issued. This is a game-changer for the Voluntary Carbon Markets, offering predictability of funding and reducing payback times for project developers. The introduction of the CRISP framework further augments the confidence in such projects. The new prepaid credit pool has launched with 54,050 tonnes of carbon and over $1M in total liquidity.
FFCON23 Solid World Presentation: Harnessing the Power of DeFi to Tackle Climate Change: A New Era of Sustainable Finance
- SCB Group is a global leader in the carbon market and committed to driving positive change through sustainable projects. With a deep-rooted belief in the power of distributed ledger technology, SCB Group collaborates with partners like Solid World and KlimaDAO to nurture a more sustainable world and advance the collective goal of a low-carbon future.
Gold Standard Certified Projects
- One of the highlights of this partnership is the sourcing of prepaid credits from The Gold Standard certified project. Such projects not only ensure the provision of high-quality carbon credits but also contribute to sustainable development goals.
- The focus on providing Improved Cookstoves for Rohingya Refugees in Bangladesh is a prime example of combining humanitarian efforts with environmental conservation.
Shared Vision
- Andrew Bonneau of KlimaDAO expressed enthusiasm about the collaboration, highlighting the shared vision of all three entities. They aim to harness technology to foster a dynamic, innovative, and scalable climate finance market.
- Stenver Jerkku, CEO of Solid World, emphasized the goal of bringing clarity and transparency to carbon markets, envisioning a future where clear commodity prices catalyze significant change.
See: Solid World Unveils CRISP: Risk Assessment Framework and Tool For Carbon Forwards
- Kevin McGeeney, CEO of SCB Group, shared his personal experience visiting the refugee camps in Bangladesh, witnessing the positive impact of improved cookstoves on the Rohingya community. He believes in the potential of distributed ledger technology to support the Voluntary Carbon Market and envisions a sustainable world.
Looking Forward
The partnership between KlimaDAO, SCB Group, and Solid World is more than just a business collaboration. It represents a confluence of technology, sustainability, and humanitarian efforts. As the carbon market continues to evolve, such partnerships will play a crucial role in shaping its future, ensuring that it remains robust, transparent, and aligned with the global goal of combating climate change.
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
| | |
|---|---|---|
| | |
Bitbuy and Localcoin Partner Boosting Crypto Access in Canada
Crypto | Sep 20, 2023
Image: Unsplash/Vardan Papikyan
Bitbuy, a subsidiary of WonderFi Technologies Inc., has announced a strategic partnership with Localcoin, Canada's largest Bitcoin ATM provider.
This collaboration aims to enhance cryptocurrency adoption and accessibility across Canada.
Expanding Access to Crypto
- Localcoin, established in 2017, has been a pioneer in the cryptocurrency ATM sector in Canada. With 920 ATMs, it captures 33% of the cryptocurrency ATM market share in the country. Localcoin chose Bitbuy for its scale, commitment to the Canadian market, and robust regulatory positioning.
- Bitbuy's digital asset services will soon power nearly 50% of Canada's Bitcoin ATMs. This is a testament to the scale and reach of the partnership.
See: Bitbuy to Offer Stock Trading to Its Users
- Bitbuy is on track to surpass 900,000 registered Canadian users by the end of the month, making it one of the country's largest crypto-trading platforms. The platform caters to a diverse user base, including retail and advanced traders, high-net-worth individuals, and institutional clients. This partnership solidifies both companies' positions as leaders in the Canadian cryptocurrency space.
- This collaboration ensures that Canadians have more touchpoints to access cryptocurrencies, making it easier for both novices and experts to buy or sell digital assets.
Improving User Experience and Security
- The partnership will introduce a robust API integration, ensuring a seamless connection between Bitbuy and Localcoin platforms.
- This integration will provide Localcoin users with competitive pricing and efficient order execution, enhancing the overall user experience.
- Both companies are committed to upholding the highest standards of security in the cryptocurrency industry, ensuring that users' transactions and assets are safeguarded.
See: Dispelling FUD: Why Binance’s Exit from Canadian Crypto Markets Strengthens Canada’s Ecosystem
Another Milestone for Canadian Crypto
In conclusion, the strategic partnership between Bitbuy and Localcoin marks a significant milestone in the Canadian cryptocurrency landscape. As fintechs, financial institutions, and investors navigate the evolving digital asset ecosystem, collaborations like these signal a promising future for cryptocurrency adoption and infrastructure development 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
| | |
|---|---|---|
| | |
