Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Payments, Transfers, Rewards
PayPal Will Let Customers Withdraw Crypto, Exec Says
Coindesk | Benedict George | May 26, 2021
"We want them to be able to take the crypto they acquired with us and take it to the destination of their choice," says Jose Fernandez da Ponte.
Global payments giant PayPal plans to let users withdraw cryptocurrency to third-party wallets, its blockchain lead said.
Speaking Wednesday at CoinDesk’s Consensus 2021 conference, Jose Fernandez da Ponte told moderator Jeff John Roberts that a withdrawal function is in the works. At present, PayPal does not let users move cryptocurrency holdings off-platform, though it has let customers buy bitcoin (BTC, +11.97%) and other cryptocurrencies since October 2020.
“We want to make it as open as possible, and we want to give choice to our consumers, something that will let them pay in any way they want to pay,” da Ponte said. “They want to bring their crypto to us so they can use it in commerce, and we want them to be able to take the crypto they acquired with us and take it to the destination of their choice.”
See: Bitcoin price hits record high for 2020 after PayPal finally adds cryptocurrency
The company ships new developments every two months on average, he said, though it’s unclear when the withdrawal functionality is coming.
PayPalCoin?
On a rumor that PayPal plans to launch its own stablecoin, da Ponte was more downbeat. “This is way too early,” he said.
Roberts, executive editor of news site Decrypt, probed da Ponte about central bank digital currencies (CBDCs), since the PayPal vice president said he has met with central bankers around the world.
“It absolutely makes sense that central banks will issue their own tokens,” he said. But he did not accept the common view that only one out of stablecoins or CBDCs would become dominant. Sometimes we position the debate as CBDCs versus stablecoins, but it’s a bit of a fake debate. There is no trade-off. We think they will co-exist.”
In da Ponte’s experience, central bankers have two priorities: financial stability and universal access. He could see plenty of ways to achieve stability with digital currencies, not only by backing a stablecoin with fiat currency but potentially by backing one with a CBDC.
See: CoinPayments Set to Remain Leading Crypto Payment Processor Finds D-Core Survey
And digital currencies could help expand access to the financial system, he said. He pointed out that one county in California, near where he lives, is a “banking desert”: there are no physical branches. That might not matter in a world where CBDCs have been rolled out across the country, he suggested.
But da Ponte was clear that there is a lot more work to be done. “On the subject of CBDCs, there are a lot of Powerpoints written, but not a lot of code written.”
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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, 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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Canadian Prepaid Payments Industry Increases Financial Services Innovation and Choice
Canadian Prepaid Providers Organization | Jun 9, 2021
TORONTO, June 9, 2021: The Canadian Prepaid Providers Organization (CPPO), the collective voice of the open-loop prepaid payments industry in Canada, today released the second comprehensive analysis of the Canadian prepaid landscape, a segment which continues to drive payments innovation in Canada. The Canadian Prepaid Ecosystem Report 2021, produced in collaboration with FinTech Growth Syndicate (FGS), is an analysis of 90 companies operating in the Canadian open-loop prepaid ecosystem to develop a deeper understanding of the innovative offerings, market forces and trends, as well as to build a heatmap of all players in the Canadian prepaid space.
Prepaid cards have allowed for the development and introduction of numerous innovative use cases to the Canadian ecosystem, for both consumer and small business segments. The use cases that have gained prominence within the market employ a wide range of value propositions while laying the foundation for further innovative offerings to be developed and brought to market.
See: More Industry research and reports
According to The Canadian Prepaid Ecosystem Report 2021, Canada is starting to see early movers offering integrated consumer ecosystems that represent the opportunity to become super apps enabled by payments. Non-banks have also been able to launch banking for their customers as an alternative to credit, and capture their spending data for further innovation in predictive services.
“Among the many benefits of the growing prepaid industry in Canada, prepaid offers increased financial inclusion to our essential and growing gig economy, while also offering more choice and convenience to all Canadians,” said Jennifer Tramontana, Co-Founder and Executive Director, CPPO. “In support of post-pandemic economic recovery, we anticipate that prepaid usage will ramp up quickly over the next few years in Canada. The CPPO is excited to continue its market research initiatives to further promote the evolution of the Canadian payments industry.”
As consumer preferences shift towards digital and contactless payment methods long-term, prepaid provides both incumbents and FinTech entrants with an avenue to introduce new products and services, while still adhering to stringent regulatory requirements.
Key report findings:
- There are 90 companies in the prepaid market in Canada, an increase of 21 percent since 2020
- Companies in prepaid space constitute about 1/6th of all paytechs in Canada and majority of those are new FinTech entrants, the same percentage as 2020
- Most of the new company launches and innovations are seen in Challenger Bank, Program Manager and Service Provider segments. Challenger Banks have the highest percentage of the new FinTech entrants
- 38 percent of the Challenger Banks in Canada offer prepaid cards
- Out of the total 90 prepaid value chain players, 50 are headquartered in Canada and 60 percent of those 50 are based out of Ontario
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Download the 31 page PDF report --> here
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, 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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An Analysis of Bitcoin’s Use in Illicit Finance
Crypto for Innovation | Michael Morell | Apr 6, 2021
Preface
Today, the rapid adoption of blockchain technologies, and the cryptocurrencies they support, are on their way to revolutionizing global financial and payment systems. And, as expected, we are beginning to see a balancing between innovators and regulators, with prominent voices weighing in— some touting cryptocurrency as the future of finance and others raising concerns about the illicit finance implications of the cryptocurrency ecosystem.
Having devoted my career to protecting and advancing the national security interests of the United States, I recognize the importance of ensuring that technological advancements related to critical industries are accompanied by smart, informed, and timely adjustments to regulatory frameworks, policies, and laws. Those who safeguard our nation simply must have the right tools to do their jobs. Period.
See: Binance Under the Microscope: Former FBI Agent Discusses Possible Investigation of World’s Largest Crypto Exchange
It is against this backdrop that I, and two of my colleagues from Beacon Global Strategies, conducted an analysis regarding the degree of illicit activity associated with cryptocurrencies in general and Bitcoin in particular. The project was sponsored by a group of leading cryptocurrency innovators and investors. The terms of the engagement were that I would “call it as I see it,” with objectivity and transparency, just as I had done throughout my career as an intelligence analyst. I am hopeful that this analysis will help advance a healthy and fact-based dialogue as policymakers determine how to best ensure that these financial innovations serve the national interest.
Introduction
So far, 2021 has been a year of significant developments and milestones for Bitcoin. Its price surpassed $60,000 for the first time in its history.1 Major corporations, from Tesla to Square to MicroStrategy, are adding it to their balance sheets.2 Large banks are providing Bitcoin-related services, with Morgan Stanley saying it will soon offer access to three Bitcoin funds for its wealth management clients.3 Canada has approved Bitcoin exchange traded funds (ETFs).4 There is grow-ing momentum for Bitcoin’s emerging use as a store of value.
Yet there is a common belief that the Bitcoin market is rife with illicit activity, with many holding this belief pointing to several high-profile incidents. When the illicit Silk Road darknet market (DNM) was shut down in 2013, more than 26,000 Bitcoin were seized by the FBI.5 AlphaBay, formed in 2014 and widely viewed as an heir to Silk Road, was shuttered by international authorities in 2017 after building a customer base of over 400,000, with transactions conducted largely in Bitcoin.6 The 2017 WannaCry ransomware attack that infected more than 200,000 computers worldwide required payment in Bitcoin.7 Bitcoin was even used to help fund some of those involved in the insurrection at Capitol Hill on January 6.
See: Goldman Sachs Reconsiders Whether Bitcoin is Legitimate Asset
The conventional wisdom on this issue has been rein-forced by public statements from senior government officials on both sides of the Atlantic who have sug-gested that Bitcoin is used primarily for illicit activities. Eye-catching media reports, like a recent Buzzfeed article titled, “Secret Documents Show How Terrorist Supporters Use Bitcoin – And How the Government is Scrambling to Stop Them,” add weight to such remarks.
In undertaking our analysis, we consulted a diverse group of experts in the fields of cryptocurrency tech-nology and investment, financial services, payment sys-tems, global intelligence and security, financial regula-tion, and law enforcement. We interviewed executives from major blockchain analytics firms, former senior Treasury Department officials, a senior official from the Commodity Futures Trading Commission (CFTC), and a former CIA intelligence analyst, as well as aca-demics, venture capital investors, former federal pros-ecutors, and a former leader in the banking industry. We also consulted studies from the U.S. Department of Justice; the Financial Crimes Enforcement Network (FinCEN); the Financial Action Task Force (FATF); major blockchain analytics firms; the Brookings In-stitution; RAND Corporation; BAE Systems; and the Foundation for the Defense of Democracies.
Sigal Mandelker, former Acting Deputy Secretary of the Treasury and Under Secretary of the Treasury for Terrorism and Financial Intelligence, as well as a former Department of Justice official and prosecutor, gave us a significant amount of her time to tap into her wealth of experience on the issue.
See: Online casino real money
I began this work expecting that I would find a set of facts supporting the conventional wisdom on this issue. After all, I believed that Bitcoin and other cryptocurrencies are a largely anonymous way to transfer funds anywhere in the world nearly instantaneously. And I assumed that those officials who have raised concerns about the use of Bitcoin in illicit activity—with the objective of ensuring regulatory vigilance—must be among the best-informed experts on this issue.
However, based on our research and discussions with industry experts, I have confidence in two conclusions:
• The broad generalizations about the use of Bitcoin in illicit finance are significantly overstated.
• The blockchain ledger on which Bitcoin transactions are recorded is an underutilized forensic tool that can be used more widely by law enforcement and the intelligence community to identify and disrupt illicit activities. Put simply, blockchain analysis is a highly effective crime fighting and intelligence gathering tool.
Download the 11 page PDF report on 'Analysis of Bitcoins Use in Illicit Finance --> here
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, 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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BIS digital currency paper predicts money will be unbundled
Ledger Insights | May 20, 2021
Today the BIS published a working paper entitled “The digitalization of money,” in which the unbundling of money is predicted. Fiat money is expected to have three sets of functions. It should act as a store of value, a medium of exchange, and a unit of account. However, as cryptocurrencies are already showing, some digital currencies or money might provide the store of value function. Others may be used as a medium of exchange for payments—hence the conclusion re unbundling.
And digital money is associated with a platform not a country. Alipay owner Ant is used as an example on multiple occasions.
The three University academics that wrote the paper see a re-bundling happening with different functionality, such as for data gathering or social network sites. It’s no coincidence that the two major digital wallets in China are owned by Ant, which aggressively uses data, and social network WeChat. The authors argue that a payment platform is the best possible way to gather data.
See: Canadian researchers develop CBDC digital currency proposal for Bank of Canada
A payment platform that collects data about all your economic activity could provide a lender with detailed information about the borrower’s income and all their payments. “Analysis of such rich data would enable the bank to estimate the probability of repayment with great precision, far exceeding the predictive accuracy of the applicant’s credit score,” conclude the authors.
The hypothesis of re-bundling of money assumes that the competitive differentiators for a currency are about data bundles and networking services. Put another way, a digital money’s appeal is based on its algorithms, its privacy policies and the counterparties on the platform. Unsurprisingly, different currencies will attract users with similar characteristics. Some will prefer privacy, while others may be willing to trade that privacy for the outcome of that data, such as better recommendations. Not mentioned in the paper, but there is a parallel with how insurers will offer better rates if they can track your driving habits.
If currencies are associated with platforms, then the role of banks comes into question not just for payments but for other functions because they lose the primary touchpoint. An example provided is Ant’s Yu’e Bao, the world’s largest money-market fund and Ant is also a dominant provider of credit scoring. Ant owns Alipay, the world’s largest payments platform.
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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, 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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FINTRAC announces assessment of obligations coming into force on June 1, 2021
FINTRAC | May 18, 2021
On June 1, 2021, amendments to certain Regulations made under the Proceeds of Crime (Money Laundering and Terrorist Financing Act (PCMLTFA) (the amended Regulations) will come into force and create or change obligations for reporting entities (REs) that are subject to the PCMLTFA. The amendments were published in the Canada Gazette on July 10, 2019 and on June 10, 2020; they can be found here:
- Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2019 (SOR/2019-240)
- Regulations Amending the Regulations Amending Certain Regulations Made Under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, 2019 (SOR/2020-112)
REs are required to comply with all the obligations under the PCMLTFA and associated Regulations. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) understands that some REs may experience certain challenges in meeting their obligations by June 1, 2021. Wherever possible, FINTRAC is committed to working constructively with REs.
When will FINTRAC assess the obligations coming into force on June 1, 2021?
Given the scope of the amended Regulations, and its impact on FINTRAC and REs, FINTRAC will exercise flexibility and reasonability when assessing REs' compliance with the amended Regulations.
See: Analysis: Proposed FATF Guidance for Virtual Assets and VASPs
Using its operational policy that focusses on the examination period, FINTRAC will begin assessing compliance with the amended Regulations on April 1, 2022.
From June 1, 2021 to March 31, 2022, FINTRAC will assess compliance with the regulatory requirements in effect prior to June 1, 2021. During this period, FINTRAC will also review REs' most up-to-date compliance program elements. As some REs may have updated their compliance program to reflect new regulatory requirements, this approach will provide REs with feedback to help them meet the requirements of the amended Regulations.
FINTRAC will begin assessing compliance with the amended Regulations on April 1, 2022. However, FINTRAC may assess transactional information for a period prior to April 1, 2022, while exercising reasonability and taking into consideration the flexible measures that FINTRAC has previously communicated in the Notice on forthcoming regulatory amendments and flexibility.
Reporting large virtual currency transactions
As of June 1, 2021, REs will be required to comply with obligations related to virtual currency transactions. REs will have to submit a Large Virtual Currency Transaction Report (LVCTR) when they receive an amount of virtual currency equivalent to $10,000 or more in a single transaction (the 24-hour rule may apply).
FINTRAC recognizes that, given the short timeline and the level of effort required to implement this new reporting obligation, some REs may be facing challenges in meeting this obligation on June 1, 2021. When an RE is not able to meet this reporting obligation, FINTRAC expects it to:
- Keep records of the reportable transactions as of June 1, 2021.
- Complete the implementation of its LVCTR system as soon as possible and no later than December 1, 2021.
- Submit all the unreported large virtual currency transactions for the period of June 1, 2021 to November 30, 2021 via the FINTRAC Upload or the FINTRAC web reporting system (F2R) as soon as possible and no later than March 31, 2022.
In the fall of 2021, F2R will be updated so that REs can use it to submit LVCTRs. REs that do not report large virtual currency transactions via FINTRAC Upload are expected to start submitting all large virtual currency transactions, including those transactions that were previously reportable but had not been submitted, as soon as F2R becomes available.
See: United States: Virtual Currencies Regulatory Overview (and Comparative Guide)
By December 1, 2021, FINTRAC expects that REs will have fully implemented their large virtual currency transaction reporting systems. Consequently, from that date and going forward, REs must submit LVCTRs within five working days after the day on which they receive the large virtual currency amount.
Continue to the full article learn more about:
- Reporting electronic funds transfers
- Declaring non-compliance to FINTRAC as of June 1, 2021
- When will FINTRAC update its Assessment Manual?
- When will FINTRAC update its Administrative Monetary Penalties harm done assessment guides?
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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, 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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Bank of Canada to become new regulator of fintech companies doing payments processing
The Globe and Mail | James Bradshaw and Mark Rendell | May 6, 2021
The federal government has introduced a new law to begin regulating technology companies offering payment services, aiming to increase trust in financial technology startups and stoke competition with established banks as digital payments become more popular.
The Retail Payments Activities Act will put the Bank of Canada in charge of regulating payment services providers in Canada that aren’t governed by another regulator, as well as foreign companies facilitating payments for Canadian customers.
It does not apply to domestic or foreign banks, credit unions or insurance companies that are already regulated in other ways. Instead, it is aimed at financial technology startups – often called “fintechs” or “paytechs” – as well as global technology giants such as Google and Apple that have made inroads in digital payments without robust oversight.
See: Wait and see approach for Fintechs as Payments Canada chooses Interac as Canada’s real-time payments provider
The new law comes at a moment when adoption and use of digital payments by consumers and small businesses has accelerated dramatically amid the coronavirus pandemic. The tighter controls on startups are intended to make payments more secure and reliable for consumers. But they are also supposed to spur innovation and competition in payments by paving the way to bring fintechs into the country’s payment systems.
“Payments in this country are dysfunctional. There are high barriers to entry,” said Alexander Vronces, executive director of Paytechs of Canada, which advocates on behalf of payments providers such as Interac, Koho and Transferwise.
“This legislation is a formal recognition of the blurring lines between traditional providers of payments services and newer technology companies getting more and more involved in the space.”
Under the Act, payment providers will have to register with the central bank, submit annual reports and frameworks for risk management and incident response, notify the central bank about incidents or breaches, and follow rules about how they hold clients’ money. The Bank of Canada would keep a registry of payment-services providers and have the power to impose financial penalties or compliance orders on companies that break the rules.
See: Faster payments: a corporate treasury breakthrough
The law is the culmination of more than a decade of deliberations about how to govern the increasing volume of retail payments handled by non-bank tech companies, outside the tightly regulated confines of Canada’s traditional financial sector. It is part of the budget bill tabled last week by the federal Liberals, following promises in each of the past two federal budgets to extend oversight of retail payments.
“I would think of it as an expansion of the trust in the system,” said Anne Butler, chief external relations and legal officer at Payments Canada, which counts banks and credit unions among its members. “Payments is a network business, and as you expand trust in the regulatory oversight of the system, you create the opportunity for it to continue to grow and flourish with innovation.”
The new Act is only a first step toward granting broader access to Canada’s payment systems, Ms. Butler said. Allowing fintech companies direct use of the country’s financial plumbing would require amendments to the Canadian Payments Act to broaden membership in Payments Canada, which runs the country’s clearing and settlement system. Payments Canada is preparing to launch a “real-time rail” system in 2022 that will allow for instant settlement of an array of payments.
The system was designed with fintechs and retail payment providers in mind, Ms. Butler said. But until further changes are made to the Canadian Payments Act, it will only be directly accessible to Payments Canada’s 110 existing members – mainly banks and large credit unions – whereas fintechs have to negotiate access through those incumbents.
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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, 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: Budget 2021’s Impact On The Canadian Financial Sector
Tory's LLP | Blair W. Keefe , Brigitte Goulard , Peter Aziz , Eli Monas and Marissa Daniels | Apr 21, 2021
On April 19, Parliament tabled the federal budget (Budget 2021), which included a number of measures to be introduced affecting financial institutions.
What you need to know
Budget 2021 contains a number of proposals pertinent to financial institutions, including to:
- modernize the unclaimed assets regime;
- clarify that the right to cancel certain contracts with a bank under the proposed bank consumer protection framework does not apply in respect of large businesses;
- implement a new retail payments oversight framework;
- engage in a consultation with stakeholders regarding credit card fees, pricing and rewards;
- extend the sunset date in the federal financial institution statutes to 2025; and
- introduce legislative amendments to provide CDIC with greater flexibility to facilitate a transaction where it takes control of a failed member institution.
See: Robert Asselin: The federal budget has no answers on the question of growth
Unclaimed assets regime
The government proposes to amend the Bank of Canada Act, the Bank Act, the Trust and Loans Companies Act and the Pension Benefits Standards Act, 1985 to modernize the federal unclaimed assets regime by increasing the information available and the use of electronic communication to match Canadians with their unclaimed assets, and expanding the scope of the regime to include unclaimed balances from terminated federally regulated pension plans and foreign denominated bank accounts.
Clarifying the bank consumer protection framework
In December 2018, amendments to the Bank Act introducing a new consumer protection framework received Royal Assent. The framework granted all bank customers, including large businesses, a limited right to cancel certain contracts with a bank. The framework added a limited right of all bank customers, including large businesses, to cancel certain contracts with a bank. In Budget 2021, the government reiterated a proposal first announced in the 2020 Fall Economic Statement to amend the framework to clarify that the statutory cancellation right only applies to retail consumers (which are individuals and small and medium-sized businesses) and excludes large businesses.
Retail payments oversight framework
The government is proposing to introduce legislation to implement a new retail payments oversight framework (RPOF) to continue to promote growth and innovation in digital payment services, such as digital wallets, while ensuring that these payments services are safer and more secure.
See: Canada’s payment system needs more competition
The RPOF was initially announced by the government in 2019 in response to the rapid pace of innovation in the retail payments space. It will require non-financial institution payment service providers (PSPs) to establish sound operational risk management practices and protect users' funds against losses. The RPOF will include a public registry of regulated PSPs maintained by the Bank of Canada to ensure their compliance with operational and financial requirements.
By ensuring that all competitors face comparable regulatory oversight, and checks and balances for the functions they perform, the intention is to create an enhanced level of trust amongst incumbent financial institutions and PSPs.
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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, 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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