Are you “dumb money?” I am. You probably are too. Wall Street institutions — so‐called “smart money” — usually throw around the phrase to describe investment activity they don’t like. And by “dumb money,” they usually mean individual, or “retail,” investors.
Category Archives: Personal Finance
Stop Calling Them ‘Dumb Money’: Retail Investors Are Revolutionizing the Stock Market
CATO Institute | Jennifer J. Schulp | Jan 4, 2020
Retail investors are big news these days. Retail trading has surged, buoyed by apps, zero‐commission trading accounts, and, some argue, limited entertainment options during the COVID pandemic. Wall Street has been griping about how “dumb money” upsets the market’s balance, bringing volatility and overinflated prices. And others are voicing concerns that retail investors cannot understand investment risks and will hurt themselves. Both have led to calls, heard by the SEC, for more regulation of retail investor market access.
But placing obstacles to market access for retail investors is a mistake. Retail investors are important participants in our markets, and lowered barriers to their participation should be celebrated. No matter who calls them “dumb money,” retail investors deserve the freedom to make their own trading and investment decisions.
“Dumb money” isn’t so dumb after all
First, let’s put the term “dumb money” to rest. It’s insulting and invites criticism about retail participation in the markets. It also implies a homogeneity to retail investing behavior that does not exist.
Retail investors should be recognized as important market participants. Like their institutional counterparts, retail investors provide market liquidity and can learn how to invest in real estate, too. The fact that retail investors behave differently from institutional ones, and sometimes behave differently from each other — far from being a bad thing —can be valuable in times of market stress. Having diverse strategies represented in the market can cabin wild market movements by decreasing herd behavior and allowing better matching of buyers and sellers.
See: 5 Drivers Behind the Sustainable Investing Shift
Wall Street institutions complain that retail investors cause irrational market swings, but this claim doesn’t hold up. Although approximately 38% of total U.S. equities are held by households, retail stock trading rarely moves the market. Most retail trades are too small, and individual decision‐making results in diverse trading strategies.
Of course, there are exceptions. Those exceptions — like recent retail investment in Hertz and Kodak — tend to make headlines because they are unusual. On the whole, Wall Street should question its views, not amp up its criticism.
For instance, retail investing was much wiser in 2020. Non‐institutional investors nailed the market bottom according to Societe Generale and generated better performance than a lot of hedge funds according to Goldman Sachs.
Retail investing is growing, but not overwhelming
Approximately 20% of market trading volume is now attributable to retail orders. This trading volume is a substantial increase over 2019, but retail’s growing market presence is not new. From discount brokers in the 1970s to online trading in the 1990s, retail investors have flowed into the market whenever barriers to their access have decreased.
See:
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Retail investors are becoming more than shareholders
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SEC Votes to Approve Changes to Regulation Crowdfunding Increasing the Maximum Raise to $5 Million
The adoption of zero‐commission trading accounts by mainstream brokerages in late 2019 — following Robinhood’s commission‐free trading model — is widely viewed as sparking the retail investor boom, but other changes have also contributed. Tweaks to trading platforms such as fractional share trading, lowered account minimums, and app‐based trading interfaces have all opened up retail trading.
These changes should be applauded for making it easier to invest with smaller amounts of capital. Although approximately 53% of households held stock in 2019, according to the Federal Reserve’s Survey of Consumer Finances, stock ownership is strongly correlated with household income, education, age, and race.
Continue to the full article --> 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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It’s instant – I get a message, and it’s received: Central bankers comb for crypto clues as Bahamas launches ‘Sand Dollar’
Reuters | Tom Wilson | Dec 21, 2020
A botanical green smoothie and a snapper fish burger, it was. In a Bahamas health-food cafe.
But future generations might look back at this as a pivotal moment - the first national launch of a technology that could upend commercial banking and even shake the U.S. dollar’s status as the world’s de facto currency.
The refreshments were among the first items bought using the Sand Dollar, a digital currency issued by the Bahamian central bank for use across the country via an app.
“It’s instant - I get a message, and it’s received,” said Dawn Sands, owner of NRG, the cafe in the capital Nassau, showing Reuters via video how sales work.
“Once people get comfortable and educated, I think it’s going to be big.”
While this experiment in the archipelago nation of around 390,000 people is modest in itself, it is likely being closely watched by major central banks across the world, from the U.S. Federal Reserve and European Central Bank to the People’s Bank of China and Bank of England.
See: The Good, the Bad and the Ugly of Central Bank Digital Coins (CBDCs)
They have been looking at issuing their own digital coins, having found themselves in a tricky position as the use of physical cash dwindles.
They are wary of a blockchain-based technology like bitcoin conceived to banish central banks, but reluctant to miss the boat on a potential game-changer and cede the field to Big Tech offerings like the Facebook-backed Diem, formerly Libra.
Smaller nations such as Cambodia have also, meanwhile, forged ahead with their own projects in digital currencies, which promise to extend financial services to people currently lacking access to banking, especially in the developing world.
The Bahamian scheme offers clues for other economies on how central bank digital currencies (CBDCs) can be introduced and work in practice - from getting users on board to helping businesses avoid costly payments fees.
“Everybody is interested in it - I think it’s arguably the first step,” said Philip Middleton, deputy chairman of the OMFIF central banking think-tank in London.
“If I’m looking for lessons learned for the big boys, it’s the whole education piece - if this is successful, how have you persuaded the population to use this?”
EARLY SIGNS POSITIVE
The Sand Dollar was launched in October, with users coming aboard in the subsequent weeks.
One of its core aims is to boost access to financial services to people in the archipelago, whose complex geography of 700 islands and remote keys throws up challenges in securely distributing cash. Payments are also a key area.
At the NRG cafe, Sands said the technology would help smaller business avoid fees charged by credit card companies. She said she was charged around 4% on credit and debit card sales of omelettes, panini and the like: “For a small business, 4% is a very big hit.”
The virtual coin is issued by the Central Bank of The Bahamas to digital wallets held by an initial tranche of six licensed money-transfer and payment firms. Through them, people and businesses can then access, hold and spend coin via an app.
See:
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Fintech experts divided on form for U.S. central digital currency
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Bank of Canada hiring Cryptolographer
Three other companies, including a commercial bank, are undergoing checks for entry to the scheme, the central bank said, without giving further details.
The early signs are positive, though there are only $130,000-worth of Sand Dollars in circulation at present, central bank data shows, compared with $508 million-worth of traditional Bahamas dollars.
Interviews with the Central Bank of The Bahamas, Sand Dollar users and three of the financial firms offering the tech suggest that, so far, it is functioning as a way to pay.
“We have merchants right now that have come on board in terms of integrating it into their system for persons to be able to purchase products for them,” said Deirdre Andrews of Omni Financial Group, a money transfer firm.
“The start of it is the movement of money back and forth.”
Continue to the full article --> 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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Fintech in Atlantic Canada
Fintech Confidential Issue 3 | Maria Pacurar & Alicia Roisman Ismach | Dec 29, 2020
The history of the financial services industry in Atlantic Canada goes back to the early 1800s with the establishment in 1820 of the first chartered bank in Canada, the Bank of New Brunswick, later followed by the founding in Halifax of two of present Canada's largest banks: Bank of Nova Scotia (1832) and Royal Bank of Canada (1864).
Today, Atlantic Canada is witnessing the emergence of a unique fintech ecosystem, powered by key communication infrastructure and deep expertise in back-office operations. Venn Innovation has identified over 100 financial technology startups, with products ranging from cybersecurity, blockchain, and machine learning to robotics process automation, AI and data analytics, that are bringing new life into the region while serving clients around the world. Atlantic Canada has been known for its quality of life and cost-competitive business environment, but now, during this global pandemic, the region has proven to be one of the safest places in the world, adding to these advantages the fast economic recovery of its companies.
See: Fintech Acquisitions Show Sector Strength Despite Covid-19
Atlantic Canada has strengths that are clearly complementary to the financial industry and can support the growth of this high impact sector with intentional effort and focus, gaining a share of this growing global industry. In NB alone, back office operations of financial institutions, insurance companies and communications, employ some 18,000 people, representing $1.5B for the economy.
How we identify Fintech companies?
The fintech sector in Atlantic Canada includes, for example, leaders like Verafin, which launched in 2003 and raised $515 million in 2019, the largest tech funding deal ever in Canada, and emerging companies like ProcedureFlow, Oliver POS (which recently secured a seed financing round from European investors), and SnapAP, which recently partnered with Oracle and Sage.
Fintech companies in our region have unique characteristics that largely contribute to the competitiveness of the region: as the investment environment is different from places like Silicon Valley or Tel Aviv, these companies often do more with less; they tend to be very lean, have a resourceful team, be real-world problem-solving focused and, as a result, provide more customer-oriented value propositions. On the other hand, it is exciting to notice that we have a lot in common with many of the world's top fintech ecosystems. Compared to places like Singapore, Sydney, Tel Aviv and others, we have comparable technology, and a focus on non-local markets. The high-impact meetings with industry leaders and the warm reception our Atlantic Canada delegation was so fortunate to enjoy at Money2020 last year are clear testimony to our international attractiveness.
It's been exciting to see the evolution of these companies since then, including the meaningful progress of solutions like Black Arcs, which can simplify complex decision-making through its analytics platform for an array of customers, and Four Eyes Financial, which offers financial compliance software from the institutional level to end-users.
Of course, we have to focus on the next generation. Given the strong pool of talent in an array of functional areas coupled with a considerable influx of highly educated immigrants, excellent quality of life, affordable cost of living, natural beauty and, of course, the growing tech ecosystem, there is no doubt that Atlantic Canada will see an increased international appeal. But what about the future? Where and how are we getting our next generation of talent?
See: Magnetic North: How Canada Holds its Own in the Global Race for Innovation Talent
The region’s 16 universities graduating nearly 18,500 degree holders annually and performing nearly 60% of the region’s R&D (more than $200 million annually) are an important driver in this innovation ecosystem. This fall, both the Faculty of Management at Dalhousie University and Venn Innovation partnered with Coopérathon, the largest Open Innovation challenge in Canada. Run digitally for the first time because of the restrictions imposed by the pandemic, this initiative now counts participants from coast to coast.
It is also encouraging to note that Dalhousie University started offering the only university fintech course in the region last year. The course focuses on understanding the landscape in which fintech companies emerge, grow and compete, and gaining practical experience by interacting with fintech companies and entrepreneurs from the region. Dr. Maria Pacurar works with undergraduate students from across the university to inspire the next generation of fintech leaders. She has also been collaborating with Alicia Roisman Ismach, of Venn Innovation and Atlantic Fintech. Their dream: build the next Singapore or Tel Aviv, but right here in Canada—on the East Coast.
This article appears as a featured article in NCFA's digital magazine, Fintech Confidential (Issue 3 Dec 2020). Click to read the latest thought leadership, insights and trends about Fintech in Canada:
Checkout NCFA's digital magazine, Fintech Confidential (Issue 3, Dec 2020) --> here
NCFA’s Fintech Confidential Issue 3 (Dec 2020) is here! Happy Holidays…
NCFA | Craig Asano | Dec 17, 2020
Dear Global Fintech & Funding Communities,
The National Crowdfunding & Fintech Association of Canada (NCFA) and partners are excited to present Vol. 1 Issue 3, FINTECH CONFIDENTIAL, a digital pop-up of the 6th annual 2020 Fintech & Financing Conference and Expo (FFCON20) held virtually across themed 8 weeks from July 9 to August 27 and co-hosted by NCFA and Toronto Finance International.
The main theme of FFCON20 was “RISE”, reflecting the joint efforts of the two associations, NCFA and TFI, to build and increase the success and sustainability of Canada’s fintech and financial sector. There were many moving parts this year and a brand-new digital format with the event bringing together 100+ thought leaders, 50+ partners, and more than 500 attendees, 2 challenges and the inaugural Fintech Draft pitching and demo competitions. Congratulations to the winners: SolidBlock and MazumaGo (formerly DivDot)! Thanks to all the partners, speakers, attendees, volunteers and the entire organizing team for making FFCON20 an impactful and amazing online experience for Canada’s fintech and funding community.
Despite a challenging year for many, the fintech industry continues to demonstrate its resilience, creative capacity, and thirst to create valuable partnerships and financial products/services that benefit millions of consumers, small businesses, and the economy. As covid accelerates the adoption of digital trends, it has spotlighted the social and economic gaps that saw fintechs pivot to work on supportive solutions from mobilizing low-cost capital campaigns to personal finance apps that help users better manage their finances, spending, savings, and investment habits.
Digital identity, CBDCs (and digital assets), AI, and sustainable finance are all taking off as governments and industry work to collaborate on overhauling Canada’s digital infrastructure, data rights, privacy and standards that will set the stage for years to come. The second round of open banking consultations that were delayed due to the pandemic were suddenly announced in November with many organizations, fintechs and incumbent banks coming together to discuss the scope, governance, implementation, and accreditation of a made in Canada OB solution. We urge the OB committee to remain laser-focused on consumer interests while looking globally for insights to implement a principles-based, inclusive, broad-scoped and competitive framework as swiftly as possible.
We hope you enjoy this issue of Fintech Confidential magazine – it certainly makes for great holiday reading! While everyone relentlessly strives to achieve success in 2021, we encourage you to bring in the new year with good health and to be mindful that we are all in this together, and to help others in your community more than ever before. Peace, happiness, and best wishes for an incredible year and journey ahead.
All the best
Craig Asano
Founder and CEO
NCFA Canada
Check out the magazine --> 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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Google Pay’s massive relaunch makes it an all-encompassing money app
The Verge | | Nov 18, 2020
It (Google Pay) will include tap-to-pay, peer-to-peer, personal finance aggregation, customizable deals, and even full banking services
Today, Google Pay for both Android and iOS is relaunching with a giant array of new features. It turns the app from something that most people think of as a tap-to-pay card repository or peer-to-peer payment system into a much more ambitious service. The new app begins rolling out across the United States today.
The new version of the app will have three new tabs:
“Pay,” which includes peer-to-peer payments as well as your transaction history using tap-to-pay; “Explore,” which will be a place where Google will offer deals and discounts; and finally, “Insights,” which will allow you to connect your bank accounts to get a searchable overview of your finances.
You will even be given the option to allow Google Pay to crawl your Gmail inbox and your Google Photos account to look for receipts. Google will use OCR technology to auto-scan them and integrate them into your finance tracking.
In 2021, Google will partner with some banks to directly offer fully online checking and savings accounts inside Google Pay — a service Google is calling “Plex.”
Not all of these services are strictly new for Google, but this will mark the first time they’re unified into a single app. In doing so, Google Pay is now arguably a direct competitor to a wide array of other apps and services, including Apple Pay, Samsung Pay, PayPal, Venmo, Square Cash, Intuit’s Mint, Simplifi, Truebill, Shop, and also online banks like Ally. That is a lot of companies that will have to contend with Google making a high-profile push into their market.
See: Google and Gates Foundation to help spread digital payments in developing countries
All of the advanced features are opt in, so if you prefer to simply use it as it currently exists today (as a tap-to-pay app on Android or peer-to-peer payments on the iPhone), you should be able to do that. Even so, this is a huge expansion of capabilities and data collection in a Google app that is likely to raise privacy concerns.
Google tells me that it has a policy to not sell or share data to third parties and that it will not “share your transaction history with the rest of Google for targeting ads.” It will also have a first-use experience that will present a series of privacy prompts and settings options. Unlike Apple Pay, Google’s servers will have access to your data so it can be analyzed and made searchable for you in the app — though the company assures that it’ll be strongly encrypted.
A stranger — and perhaps telling — privacy option is that those who want to get personalized deals will have the option to agree to a three-month “trial” of allowing Google to analyze their transaction history to customize their offers. After the three months, they’ll be prompted if they want to keep using that part of the service.
Let’s dig into what we know about each aspect of the service.
Insights
The rightmost tab in Google Pay is the place where the app will provide a lightweight version of apps like Mint and Simplifi that presents much of your financial information in one place. Google’s take on it is called “Insights,” and as you might expect, it heavily integrates both search and Google’s ability to process data with its algorithms.
See: Fintech Fridays EP46: Making Business Borderless: International Payments and Partnerships
After you connect your banking and credit accounts, Insights will begin to show you reports of your spending and saving as well as upcoming bills. It does this by scanning through your transactions rather than needing you to manually enter or categorize things. It works with standard checking, savings, debit, and credit cards.
Plex
In 2021, Google will launch a new banking service called Plex. It will let you handle basic checking and savings in the app, engaging directly with an online bank. This isn’t Google directly offering banking services, to be clear. Instead, Google will essentially let some banks use Google Pay as their banking app.
Continue to the full article --> 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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[Event Nov 26, 2020]: Innovations in Financial Literacy and Education
Financial Literacy Committee
You're invited - Event Details
Thursday, November 26, 2020 1:00 PM EST
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As we mark the 10th anniversary of Financial Literacy Month, the Financial Consumer Agency of Canada (FCAC) is pleased to invite you to a dynamic event organized specifically for financial literacy stakeholders. This 90-minute session will focus on innovative, research-based approaches to financial literacy and feature guest speakers who will share expert insights and perspectives, followed by a panel discussion.
Moderator: Supriya Syal, Deputy Commissioner, Research, Policy and Education, FCAC
Panelists:
Rebecca Balcerzak, Senior Project Officer, Families Canada
Ruth Stephen, Director, Strategic Policy, Research & Experimentation, FCAC
Rim Charkani, CEO, WALO
Dilip Soman, Director, Behavioural Economics in Action Research Centre Rotman School of Management
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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Should the U.S. Government Create a Token-Based Digital Dollar?
Alt-M |
Proposals for "central bank digital currency" (CBDC) come in two basic types: account-based and token-based. I have been critical of proposals for an account-based system. Until recently, there didn't seem to be much active interest in a token-based system. But now comes a significant token-based proposal in a new white paper by the Digital Dollar Project. Would a token-based system be any better than an account-based system? It might, but it all depends on the design details. Let me explain.
An account-based CBDC would mean that households and businesses have retail checking accounts directly on the Federal Reserve System's balance sheet. A detailed proposal for such a "FedAccounts" system by three legal scholars (Morgan Ricks, John Crawford, and Lev Menand) is available here. (I recently exchanged views with Ricks in an online event hosted by the Cato Center for Monetary and Financial Alternatives.) It is implausible that a FedAccounts system, run by a bureaucracy with no experience in retail payments, unguided by profit and loss, will provide better or more efficient service than systems offered by banks and other competitive private firms. But it isn't implausible that threats to privacy would arise from a system that gives a government agency real-time access to all deposit transfers.
See: Why a digital dollar isn’t coming anytime soon (or so the Fed says)
A token-based CBDC would mean that households and businesses hold circulating digital Fed liabilities in digital wallets (think mobile phone apps), the way they hold Bitcoin or Tether[1], or the way they hold Federal Reserve Notes in analog wallets. This model has been labeled "FedCoin." The Federal Reserve System would know the dollar quantity of FedCoin in circulation, but in principle, as with physical notes and coins, it needn't know which users hold how many of these digital dollars. One prominent supporter of the FedCoin concept since 2015 has been Federal Reserve economist David Andolfatto. An early sketch of the concept was provided in 2014 by blogger J. P. Koning.
In May 2020 a group calling itself "The Digital Dollar Project" released a report entitled "Exploring a US CBDC." Although it deliberately leaves many important details to be determined later, the report deserves our scrutiny as an updated and prominent proposal for a token-based system. The report expands on an earlier WSJ op-ed by two of the Project's principals, J. Christopher Giancarlo and Daniel Gorfine. Giancarlo once headed the Commodity Futures Trading Commission while Gorfine was the CFTC's chief innovation officer. The named authors of the report include Giancarlo and Gorfine, plus Charles H. Giancarlo (CEO, Pure Storage) and David B. Treat (Accenture) as additional Project directors, together with eight more contributors from Accenture.
From the user's point of view, the Digital Dollar Project's "champion model" is akin to a well-backed dollar stablecoin, that is, a transferable digital token pegged to $1.00 per unit by its issuing entity. (Tether is by far the leading US-dollar-linked stablecoin with more than $9 billion currently in circulation. Here is a list of the many other available stablecoins.) But there are some differences between the Project's model and the typical stablecoin: the model's coin issuer is not a private entity, the fix to the dollar is free of default risk, and the exchange-rate variation around the $1.00 peg is zero. The issuer is to be the same US government agency currently responsible for supplying fiat US dollars in paper and ledger-entry form: the Federal Reserve System.
See: US Federal Reserve Actively Working on Digital Dollar
Rather than buy FedCoins on an exchange, a user would get them from banks the way she gets fresh Federal Reserve Notes, redeeming her deposit dollars for them. She would hold FedCoin balances in a digital wallet, perhaps an app on her cell phone, and spend them online or in person, or transfer them to her friend, using the phone app.
The Fed would stand ready to interchange FedCoins (which the report calls "Digital Dollars," but FedCoins is less ambiguous) 1:1 with existing types of base money, Federal Reserve Notes (which are not to be abolished), and commercial banks' reserve balances on the books of the Fed. In this way FedCoins are to be a form of fiat money, part of the US dollar monetary base. They are to have "the same legal status as physical bank notes," which I interpret to mean that they are to be legal tender like Federal Reserve Notes. That is, they cannot be refused in the discharge of any dollar-denominated debts. Commercial banks will be as happy to accept them on deposit, and to pay them back out, as they are to accept and pay out Federal Reserve Notes.
Continue to the full article --> 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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