Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Podcasts
FINTECH FRIDAY$ (EP24-Feb 8): Re-imagining Philanthropy with Daryl Hatton, Founder and CEO of ConnectionPoint/FundRazr
NCFA Canada | Feb 8, 2019
Ep24-Feb 8: Re-imagining Philanthropy with Daryl Hatton
About this episode: On this Episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Daryl Hatton the CEO of Connection Point. They chatted about microprojects, saving little girls and puppies and how to get hooked on Philanthropy. Enjoy!
- Focus on value and avoid the complicated terminology when growing new innovative markets
- Branding customer segment-focused funding products, white labeling collaborative uses cases
- Crowdfunding for good at the intersection of technology, people and impact
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: DARYL HATTON, Founder and CEO, ConnectionPoint / FundRazr (linkedin)
BIO: Daryl Hatton, CEO of award winning international crowdfunding company FundRazr and of the innovative sponsored crowdfunding company Sponsifi has founded multiple start-ups and helped bring one to a successful NASDAQ IPO in 1999. He actively serves as board member or advisor to handfuls of other hot companies in Canada. In addition, he is a Director and Crowdfunding Ambassador for the National Crowdfunding Association of Canada. As a social media guy and frequent public speaker, his Twitter tagline includes words like “#KingOfGastown, entrepreneur, cardiac survivor, foodie, whisky nut, philosopher, mentor, father and friend.”
* Senior Business and Technology Executive
* Proven Corporate / Product Development Execution
* Collaborative Leader / Corporate Strategist
* Experienced in Tech Mergers and Acquisitions
* IPO (OPTO) on NASDAQ 1999
* Successful sale of OPTO to EPAY April 2008
* Successful sale of Backstage Technologies to Real Networks 2010
* Multiple private buy/sell transactions while at Optio
* IPO (Modatech) on TSXV 1987
* Multiple successful software startups with Angel / Private Funding
* Mentor / advisor / board member of multiple startups
* Successful, deep partnerships with PayPal, Facebook, Twitter, Google
* Proven Corporate / Product Development Execution
* Collaborative Leader / Corporate Strategist
* Experienced in Tech Mergers and Acquisitions
* IPO (OPTO) on NASDAQ 1999
* Successful sale of OPTO to EPAY April 2008
* Successful sale of Backstage Technologies to Real Networks 2010
* Multiple private buy/sell transactions while at Optio
* IPO (Modatech) on TSXV 1987
* Multiple successful software startups with Angel / Private Funding
* Mentor / advisor / board member of multiple startups
* Successful, deep partnerships with PayPal, Facebook, Twitter, Google
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more Fintech Fridays podcasts: Season 1 | Season 2
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Daryl thanks so much for sitting down with me today. I mean I'm super excited to jump right into it.
Daryl Hatton: Happy to be here. We're going to have some fun.
Manseeb Khan: Awesome. So, could you just for the audience give us a little bit of who you are and essentially who and what Connection Point?
Is sure well I'm Daryl Hatton founder and CEO companies call connection point. We're best known for FundRazr which our enterprise crowdfunding platform is. I'm a serial entrepreneur, startup company took a public on Nasdaq way back in nineteen ninety-nine and we had one of the fastest growing companies in the U.S. that year. Fast forward a bunch of years and I left that and said gee do I want to do business again. And I started Connection Point six months in the day after I left the other company. And along the way we started to do fundraising. We learned a whole lot about the market. And here we are.
Manseeb Khan: Awesome. So, what made you kind of switch. Like so why crowdfunding ? Like this was I'm assuming this is early 2000s, right? Like you said you were essentially one of the OG's entrepreneurs out here. Yeah. Why crowdfunding ?
Daryl Hatton: It was actually 2008 and one of the things that we were looking to do is like I want to start this new business but because I was under an intellectual property rights deal with my previous company actually couldn't think about it really. And being careful about it didn't want to think about it while I was with the other company. So, six months in a day I now get free and out and I said OK what can I do. And it took from about September of that year until January to really figure out that I wanted to get into the social funding space. And the reason I was doing it was I was coaching a lacrosse team and I was looking for ways to get paid and to raise money for my team. So, I collect some fees and take some donations because we had a 50/50 turnouts and all that kind of stuff. And I had a little epiphany. I was trying to also get the guys out to practice and I was sending out emails. Nobody was showing up, but I started a Facebook group and posted the date, time of practice and I had a 100 percent attendance. The first time I did that, and a light bulb went on and said Hey can I get them to pay their fee like that. And FundRazr was born. So, it really was all about trying to scratch my own itch and in the early days as we developed the idea of paying the fees really didn't take off very well. But the idea of collecting donations went nuts and that's what we built the company around.
Manseeb Khan: Awesome. So, could you still sticking on the early days I know on our call before we even started the episode you compare like the early days of crowdfunding and how it's very parallel to now the early days of crypto and Block chain. Could you just go a little bit more detailed about that?
Daryl Hatton: Oh, for sure yeah. I mean when we started crowdfunding no one knew what to call it. And I even had the opportunity to buy crowdfunding dot.com as a domain name and was given some advice by a bunch of people in the industry going I never nobody ever wanted to call it that. Yeah right. Oops. So, you know the interesting things that happened at that time, but we were really struggling in the beginning to try and talk about this intersection of social media and of finance technology and of marketing technology all into one platform that becomes a crowdfunding campaign. So, we used the word crowdfunding a whole lot. And if you went to the crowdfunding conferences everyone was talking crowdfunding and to the people who were not in the industry, they would come in they hear us and they're going. What the hell are you guys talking about. Like you're not making sense. All you're doing is dropping these buzzwords all the time and one of the things that I hear going on now at crypto conferences and block chain and the whole area of the new innovation and fintech around this is the same thing. There's a ton of terminology. Ask an entrepreneur what they do. And they'll have you know they'll talk about how they've got this unique twist on what they do with block chain to do Dut, Da Dut, Da. One of the lessons we learned from the crowdfunding world is can you explain what you do without ever using your buzzword. Can you explain the value of your business to somebody and have them get it? Why it's important. And why you're going to win without ever using the words. So, for any crowdfunding or any sorry crypto or block chain entrepreneur right now can you tell me why your business will be successful without ever using the words crypto or block chain or any of the terminology around it. What's the business value that you're delivering to the customer. And why is that really important. It may be a technical function that you're delivering but there's a business reason and they're not just a technology reason. And the companies that win are the ones that figure out how to communicate that business reason and build the technology to solve it. Big learning what we had over that time is just you know kind of buzzwords are cool and let make you feel like you're in the crowd but stop it. Start talking about your business and the value and the customers may see a little bit more boring. But it's got a way better higher chance of success.
Manseeb Khan: No, I absolutely agree with you. And I guess I mean like you took a misstep and you said crowdfunding. I think crowdfunding is still in that same conversation. Now you want to be able to kind of give the elevator pitch with like your industry jargon. Right. You want to be able to like to go to like roll up to any random person at Starbucks and kind of like hey this is actually my business does sound like a good idea right.
Daryl Hatton: Yeah. And you know it's easy to stumble into. I mean as I just did it you know it's a shortcut for us to try and take a set of concepts that we have in our head and communicate more easily to other people who also have similar concepts. And it’s just good practice to try and do it without that. Yeah. Absolutely. It's kind of fun once you get into it because you get to laugh at yourself a lot. Keep taking a shortcut.
Manseeb Khan: Yeah. I can absolutely see that see that. So, you guys focus on an enterprise crowdfunding could you just explain a little bit like why is that different than the Kickstarter's and the Indigo's goes out there.
Daryl Hatton: Well yeah it might help to kind of hear the path we've got to with that. And so, let me give you a little bit of background. When we started our crowdfunding platform, we were all about personal funding. Helping people raise money because they had cancer, they had a tragedy, they had a car accident something happened in their lives and they needed emergency funds. And the best way to do that was to talk to the friends and family and get them to the money to help because those are the people, we're most invested in helping you. And it worked, it saved babies and it helped people recover from car accidents and then help people deal with medical bills especially in the United States and along the way. You know we one of the ways we had to communicate was to use Facebook to share and as we were doing that some non-profits came along, and they said you know we love this kind of toolset but it's kind of weird to use it as a person. So, could we use it under the name of our organization. So, we start. Or the name of our charity. So, we added features in to make it so that you could do a personal campaign or charitable campaign. And that ended up you know giving us a whole new set of requirements but a whole new set of customers. And then Kickstarter the time was doing a good job and Indiegogo was starting to do more in funding of entrepreneurial style projects or creative projects. And we ended up getting asked hey can we find our project with you because you guys seem to be really good at social sharing. So now we've got three constituent groups of customers personal, nonprofit and now entrepreneurial or creative and over the period of time as we built out all the features for all of those it started to become what we call an enterprise crowdfunding platform. And the reason for that is that we're solving a lot of the problems for those customers at a much more deep level about things like team` communications around running your crowdfunding campaign. Can you have a lot of people on your team both as managers. Which is pretty easy for most apps to think about but then also as things like promoters. Can you hire somebody on to the team whose job it is to go in and promote you to influencers in the industry and track the results and help figure out whether or not they're helping you raise money for your campaign. So, we call it an enterprise crowdfunding platform right now because the basics of what a crowdfunding campaign are have morphed into. In our case over 10 different ways to do campaigns and some of them are very charitable focused. Some of them are very personal focused and some of them are very much a business focus.
Manseeb Khan: I LOVE THAT! I kind of want you to tell the story that you told me over the phone of that father reaching out to you about as a little girl and like how the example that you use like some people create a business to create a business. Some people kind of fall into the business. Can you can you tell that story a little because I loved it so much.
Daryl Hatton: Yeah. You know one of the things people look at us with FundRazr and there is we've got the different brands we'll talk about this a little bit as well is that there's different ways to do crowdfunding. And when people look at our technology, they get confused by it. So, we actually give it different brand names to help separate the customers apart from each other. Funny enough. But the story that you're referring to when we first launched in it, we kind of have to do a relaunch of the platform in July of 2010 after surviving a near-death experience with Facebook kicking the chair out from underneath us and we'll talk about that maybe too. But basically. So, when we started the campaign and we're focused on these personal donations and my goal in starting this was to build a business. I wasn't trying to go save the world. I wasn't trying to raise money for charitable causes and that was because it was a good thing to do for the planet. I was trying to build a business and we were really struggling. Trying to help ourselves understand why customers were using this and what they were really trying to do. And it feels now like we were just so totally naive about what was going on. But so, we launched in July of 2010 and we're going along we're watching this incredible growth happening. All these people are using these campaigns and we're really focused on how we help them raise more money but not really thinking about why they're raising more money. And then we got a Christmas card, the Christmas card was from a family that had been living off the grid in Hawaii. I think there was maybe people living on the beach kind of thing. He got out of the U.S. military they'd hooked up as a couple they'd had a little girl and you know so they didn't have. They were kind of dropped out a little bit to the system. I think they didn't have health insurance that kind of thing. And they discovered that their little girl had been diagnosed with childhood leukemia. So, in the race to try and figure out how to save her again no health insurance in the US there for that. They found out that the military hospital in San Diego would take her because he'd been in the military, but they had to get the girl there A.S.A.P. because childhood leukemia is a very fast-moving disease. So, they put up a campaign or a FundRazr and they raised that I think it was thirty-five hundred dollars. They needed to get the flights. Like you know right now and given the low accommodation when they hit San Diego and they took a couple of days and they got her there and when they got her there the doctor said if you hadn't got her here today or tomorrow, she probably would have died. And so, they sent us a thank you card saying thanks for helping save our daughter's life. We didn't I mean that just smacked us hard. We had no idea that really that was kind of an end result if you will. The business value of what we delivered wasn't raising money. It was helping save somebody's life or helping save a puppy dog or helping someone recover from an accident. Those are the things the real value we're delivering it wasn't collecting money in a social environment. And so that epiphany just really changed how we looked at the business. And you know we still are a profit-making business, really low on the profit side because we're trying to scale it and it's a harder market than people might think. But it is you know there is that nice benefit that we actually have this big business value. That's a very personal value in a very charitable value in the background and that's a fantastic way to come to work every morning and think about what you do for the day is you help people save probably dogs and little girls.
Manseeb Khan: Yeah, I mean that's probably the best customer testimonial I've probably ever heard possibly ever if not in a very long time. You did briefly before you jumped in the store you talked about how you broke down your business in to different kind of brands could you talk a little bit more about that and how that ties it to you guys scaling because like you said you guys are not as quote unquote profitable because you're trying to scale. Could you talk a little bit more of the challenges scaling and being a crowdfunding service?
Daryl Hatton: Started connection point and we knew that. I don't know. I just had this hunch that the technology that we were going to build would have more than one use case in the marketplace because really, it's a marketing system. And so what kind of problem are you trying to solve with it as a marketing system was a personal? Was it corporate? Was it charitable? So we started a FundRazr with the idea that it was the general-purpose platform for crowdfunding using a donations or a rewards type model. So, donations model being your traditional charitable thing. GoFundMe is a good example of that. The rewards model is the Kickstarter or Indiegogo model where you're doing an all or nothing campaign and you're giving the donor some reward back. So that was really it took the majority of our focus and energy and as a result we tended to lump more customers into that pile than we may should have because you know it was just more convenient just as kind of keep them focused on the one brand for a while. But over the last couple of years we've really noticed that a couple of different use cases are showing up that are worth separating them out from the main stream. So, it's all the same technology with a different skin on it and sometimes a little bit of a tweak to the feature set an example that is one of our brands we call CoCoPay. CoCoPay stands for collaborative community payments and it's designed to be used by businesses to allow or enable their customers to use crowdfunding to help them finance the purchase of the product or service. That's a big one mouthful but if you imagine I don't know if you remember. I don't know if we had this chat but there's the company in the States called in Enchroma and they do glasses that you can put on and if you're colorblind it'll help show you colors for about 80 percent of the people who are colorblind that put them on. It's really emotional to not have seen color. And now to see it. I mean this world is full of color, but the glasses are you know mildly expensive there between if you do it right, you're probably going to get two pairs of them they're going to be between five hundred to one thousand dollars and some people can't afford that. So if you go to the Enchroma web site there's a spot on their site where you can use our technology to start a crowdfunding campaign that will with a Enchroma branding tell the story using Enchroma glasses and help you communicate that to your friends and family and co-workers and others in your social network and help you buy the glasses. Now it might be for you but one of the most common use cases is to buy them as a gift for somebody else. So, a classroom we'll get together buy them for their teacher and then or someone will buy them for a military vet they had that happen. Not quite sure how they got there with colored blind, but they did. So that was really cool. And then you know they'll buy them for Grandpa because Grandpa has never had it always took care of the kids, got them go to college, got the grandkids going never really took the time to figure it out for himself or was it didn't have anything available. So, the family gets together buys Grandpa glasses that let him see color for the first time and the incredible folks tell you how to do it right to capture your YouTube moment. They say take a whole bunch of colorful balloons and take him outside somewhere and don't tell him what it's all about it just ask them to put all these cool looking sunglasses and they look cool stylish glasses and usually what happens is the glasses go on the glasses come off. The glasses go on glasses come off and whoever it is crying. And they because you know it's that it's a super emotionally, I get it and there's some guys that have just gone off on the oh god, Oh my God they're so funny. But the point is that by allowing the community to work together to buy something it may not seem like it's big a use case. But if you get into a lot of medical devices that are maybe ten thousand dollars because you need special Walker you need something that gives someone mobility. They may not be able to afford it right away but their friends and their family and their social networks would go let's fix that for them. Their good person we'll fix that for them and CoCoPay lets them you know safely raise the money and pay it to the company as opposed to paying it into the individual so that you don't have to worry about fraud and it's all or nothing so that if you don't raise enough money nobody's out you know you don't get halfway towards buying one of these things and now what do you do with all the money and refund it to everybody and take a few gets the payment companies you know you're kind of in a net loss for trying to do something good. So, it takes all the best of the crowdfunding technologies of all or nothing social sharing teamwork collaboration in our case you know branding of the company and puts it all together in a package that somebody can use to crowd finance a purchase. Is some idea of where it's the same technology? But if we're going to sell it to a company, they don't want to come to our Web site and see that we're raising, we're saving puppy dogs and little girls they're going how does this affect our business. Why am I doing that? And so, there's a dedicated site to CoCoPay to talk about its business value. But ninety-nine-point eight percent of the technology is the same as FundRazr.
Manseeb Khan: Mm hmm. I mean this does bleed into I guess my next question of corporate good right and how you're seeing. You've mentioned that in the phone call we have that how corporations are now not for the sake of oh hey we're going to go and plant trees just for the sake of planting trees. Now we're going to go and pick an issue that our customers or clients are very passionate about and then try to spearhead it and like the best example I can think of would be when Adidas and Nike decided to take all like ocean pollution plastic and remake it into sneakers because ocean pollution was something that both companies audiences were very passionate about. So, they created a sneaker behind it and that started this whole renewable shoe movement. Right. So why is or how is corporate got like corporate good better or better than the government initiatives that are going on or the charity initiatives or it is, or should we see it as more as like a tag on.
Daryl Hatton: One of the things I didn't say in the beginning. If you actually look at mission of what we have with Connection Point we're trying to well, we are We're reimagining philanthropy. And one of the reasons that we want to do that is that the hypothesis is that we can get causes, corporations and consumers to all work together to solve world funding problems because that everyone can have a win in that and the collective group of all of them also gets a win. So, for example you know you said it very well that consumers are now wanting to have their companies do more than just supply them the product. You know in the case of the shoe companies they saw an opportunity to not only sell shoes but to solve an environmental problem at the same time. And they knew through research that their consumers would really like that. That's got a kind of a social impact space. You talk about multiple bottom lines you know the bottom line I get a great pair of shoes from a brand that I love the story behind the shoes is fascinating and fantastic. You know these used to be junk in the ocean and they've turned it into look at these things these are amazing. And that at the same time that's reducing pollution in the ocean. So, the consumer there is driving that behavior because they are demanding more from their partners and the partners are interested in doing this because it builds loyalty with their customers. Their ability to go in and use the best things of what corporations can do which is communication at massive scale and the ability to actually execute on programs to change social problems and in some cases though they need to have something like a charity partner actually do some of that work for them especially when it gets into softer skills. So if you've got a company that's not about saving plastic but maybe helping with mental health or maybe helping with child poverty or food distribution or food safety quality for lower income families all sorts of things like that the corporation might want a partner with a charity for the charity deliver the work in the field but then be able to use the fact that they're supporting that charity as a story for their consumers saying hey you know we all care about this together. Why don't you buy our products? We work with this company and there's a trading of value that goes on in that system where they get money to the charity to do the work the consumer feels great because they know this charity is doing the work. And they may end up establishing a better relationship with the charity and they're more loyal to the company for buying that product. So, it I think it's one of the changes we're going to see in society in the next few years. Is this is going to become the standard way to do it. Because it takes advantage of the strengths of all three parties and we built a product around that that we call Sponsifi and Sponsifi designed to do the place where the company can even make an offer of to the donors or the contributors on how they might want to further support the cause. So again, getting that branding out there that says we're supporting this cause and helping the company get better value for the money that they can spend on it and a more measure of resolve. So that was a lot of words in there, but you know if you can take out the idea that basically cost corporation consumers are going to work together because they already are. We just want to make it easier to do and less expensive for the companies particularly. And I think we're going to see something else transform society.
Manseeb Khan: Yes. No absolutely that's kind of what crowdfunding is what one of the missions of crowdfunding is to make the world make it a better place right. If it's be that you're saving a little girl or you're saving a little puppy or cleaning the oceans right like though the of the whole part is especially with I mean millennials like me. We love to see that like corporations’ charities governments are taking more of an initiative to actually go after these social causes because these social causes are so near and dear to our heart. And now that companies are kind of using that maybe some could be as a marketing ploy some could because they actually truly believe in the said cause it's. Yeah. Crowdfunding. It's going to be very exciting in the years to come. So, with that what is the future of crowdfunding look like. And essentially what are you excited about in the space right. Are you excited that maybe in the future you might have like this block chain integration? I excited that you can start tokenization a lot of donations?
Daryl Hatton: There's lots in there. Let's just before we go there let's think about one thing around. You know I talked a lot about causes and what's going on there and a lot of entrepreneurs that might be listening to this are going here. But what has that applied to me. I don't know I'm just trying to startup and I want to get this product out there and I'm having trouble with funding it. So, one of the benefits of crowdfunding in here is also the fact that because it enables communities to work together to solve a funding problem that's basically the bottom line and what it does. Let's not worry about whether it's charitable or corporate or whatever but if we all can work together and help us work together on that. One of the side effect benefits of this is that businesses that need not have been able to start before because of lack of capital can take a community of interested customers/prospects and we'll be customers and use the model to help them preorder enough product that they can go through the R&D phase the initial production run and get the product into the hands of consumers who really want it. That's a social benefit because now we have a company that was created out of thin air literally and it's providing income and it's providing satisfaction to consumers and it's providing opportunity for people that live out some of their dreams and maybe change the world because they've got a better widget in some form. It's more efficient it's more friendly it's easier to use, it goes faster whatever the real benefit in there is those things are helping our society as well. And a lot of the entrepreneurs that are starting up campaigns right now are small companies are realizing that they have to have that kind of social responsibility aspect baked into their company for two reasons one to attract their customers. And I think this is actually way more important doesn't get enough press to attract their employees. If you want to work for nameless soulless company, you know big office tower why I am here every day. This sucks you know I don't enjoy my work I don't really feel like I'm making an impact or by the way we work for the company we're really clear the part of what we do is to help with this social problem or you know 10 percent of the proceeds of the profits from our company go to support the producers families who are helping us build this neat new eco backpack you know I don't know make up a story there but basically that feeling of going to work and having purpose which we discovered by accident is one of the key motivators for digital natives, millennials and gen Z to want to go to work and they will work really a ton of harder and put more of their life into their work when they feel like that work has got an impact on the planet. So, you can use crowdfunding as a way to help fund the idea. And for all entrepreneurs that are looking to start up a business there. It's a great way to get revenue into your company without having to give up ownership you know equity and securities. Crowdfunding is great but you are giving up. It's the most expensive money you'll ever get because it costs you a big chunk of your company in the future. But sometimes that's all you can do. So, you do it. But if you can fund it with some of these others and have that social tie in you can not only launch your product but build a company where people want to work and where you can have some real satisfaction to work home at the end of the day. So, I think there's a lot in there and that's one of the things I'm very excited about. You know that's part of future is now because it's just not evenly distributed. Well who is it. Who said that the future is has arrived it's not just evenly spread out? We can do that now and then to answer your question about some of the other technology you know what I think of crypto and block chain and much of that industry about is how we make things more transparent and make it easy for us to see kind of our thread that ties through the financial story of the organization. So, in the charitable world we look at this and say if you made a contribution to a cause to build wells in Africa. Which well in Africa did my money go to build in crypto being mechanism for kind of tracking where the value is with block chain being where did it deploy. What's the ledger of it seems like it's going to be a very interesting topic because when people make a donation they really want to know what good they did? And I can see some technology in there helping make that happen at the moment it's a bit of a geeky love because consumers aren't necessarily demanding that level of transparency, but it could be really cool once we have it because then they might start demanding it more once they know they can get it. So, I think there's lots of things will happen in our financial world because of this distributed ledger capability.
Manseeb Khan: And I think you'd like to harp on more of the transparency aspect. At some point I think people would be pretty excited to see that like oh hey I like that little girl that I donated 30 bucks to. You can kind of track it like how you track like your orders on Amazon right. At some point we'll probably get to like that level of transparency. really. Oh cool. They actually hit this goal or the next milestones that's like that's something to kind of look forward to and it's like it's maybe not gamifying it but like it's you know it just like fueling the fire of doing good.
Daryl Hatton: Your right on with that we actually do that now in FundRazr. We have a concept called micro project and we've been leading the industry and trying to talk about this transition from don't fund. I'll give me a really concrete example of this.
Manseeb Khan: No please do!
Manseeb Khan: There's a cause called One Girl Can that helps girls in Eastern Africa get an education because the founders of this cause were very successful in business and the couple he continued to run the business and she decided to run her foundation on the side of it and the foundation was about helping these girls get an education because they knew that the change in the quality of the life for them and even more so for the members of their community was so huge. So, what they were doing is they're building schools in Eastern Africa. And last year we said to them you know that's a major project to build the school. What if we broke it down into a whole series of micro projects? Let's talk about each of the girls that needs to go through these schools and what would be their life like if they were able to go. What are their hopes and dreams and aspirations and let's get people to fund them individually because in aggregate you're going to get enough money to do your funding for the school? And so, we call that micro projects dividing a major project down into the hundreds or thousands of small little projects and our technology is designed to make that really efficient. But now the interesting thing the stories that can come out of this imagine that you know you sign up to help Purdy one of the girls and she wants to be an engineer because we know that you signed up to fund just Purdy. We can send you updates on what's happening with just Purdy and her journey going through school. So, giving you that same kind of ongoing view into your social investment different you know you put in money but if you're looking for a social payback and not a financial payback. Letting you track Purdy progress we said our you know dream story here is that Purdy adds to her campaign because she's an adult she can do that a young adult but she gets out to her story saying guys I'm really nervous I'm going in for my final here. I really appreciate all the support you've given me to get to this point. M.M. You have an audience in North America around the world waited with bated breath and a little while later you get a thing going. I passed and happiness is going over North America. Because together they made a difference right. Yeah. So, it's that we're doing it now without having to have that level of transparency in the block chain you know to do that but maybe block chain help make it a little bit more precise a little more guaranteed. That you know what really happened. Somebody just didn't read a verdict. You know the janitor there you want to know that you actually get the good work. Yeah. It brings up other stuff like how do we find overhead? But that a different problem to solve.
Manseeb Khan: I love the fact that how. Like your example really solidifies the. It takes a village to raise a child. You're going to like hopefully in the future you're going to see like actual like villages or like digital villages helping raise children like in Africa or like Syria or when they have you only got like following that story it's kind of like its kind of like a vlog.
Daryl Hatton: So, it's well you know I think one of the other projects we're looking at is to fund portable solar powered charging stations in for villages in Africa. And would people be willing to donate to help make that happen if they can hear the stories of the villagers lives that have been transformed. Because when they have power they can study. The kids in the village and study at night without having to burn kerosene in their homes which is so hard on their health and is expensive. So, if they could end up having light that will let them on their laptop or their phone or their board the tablet, they're starting to get some technology but they don't even have power yet. Giving them a way to have power, would consumers around the world be willing to support some of that and in you know in exchange for the stories that are going to come out of that village and the impact it's going to create. And if you take a kind of an interesting view of philanthropy as a form of entertainment it's a discretionary spend like it's we just choose to spend it. But some people are willing to spend small amounts of money to see that that result happen more than wanting to go to a movie or wanted to go up for you know a lot of people say hey I'll give up a cup of coffee discretionary spend element every day for a month just to make sure Purdy gets through example right. That's philanthropy as entertainment. And I think that's one area we're heading to as well.
Manseeb Khan: I love it. Philanthropy is entertainment. I can.
Daryl Hatton: We're reimagining philanthropy. We've got to do that. You know you have basically all of this it is brain chemicals where you're buying endorphins and oxytocin when you make a contribution. That's how warm lovely feeling you get when you feel like you've helped somebody is oxytocin. It's the brain hormone and funnily enough it you know if you give lots of little gifts you get way more of it than if you give one big gift. So, in some ways I mean we're brain drug pushers. We're trying to get you hooked on philanthropy and crowdfunding is your gateway drug. So just be careful.
Manseeb Khan: I'm definitely using on the podcast description of crowdfunding is your gateway drug to philanthropy.
Daryl Hatton: Philanthropy is entertainment. God this story is writing itself right.
Manseeb Khan: Oh yeah. It really is. It really it really is. So too.
Manseeb Khan: I mean hey do you have any additional things you want to throw in like any anything that the audience should be aware of either. Things that you guys are doing at your company or thing other things that are going on in the crowdfunding space.
Daryl Hatton: I think one of the things that I would love more entrepreneurs to know in this is that if we're in the crowdfunding world together you know I talked a lot about how it takes community and I think first startup community in especially in FinTech space and others it is really important for us to think about how we help each other as opposed to how we're just always in competitive mode or selfish mode because it's amazing the amount of help that we've had on the way and the amount of help that now I can help muster for other startup companies. I'm currently advising 20 different startups and you know I've got a nice network that I've built up over the years that they can count on to help them. This working together thing which we learn through doing our crowdfunding business is one of the keys to actually making your business successful. And I really encourage a lot of the entrepreneurs to think about that that when they're thinking about how they ask for help. Also ask how they can help, and it changes the conversation dramatically. And you know you get much better results much faster.
Manseeb Khan: So, to wrap this up will be the best way for the audience to either contact you personally and or Connection Point. Do we snap you? Do we tweet you? do we e-mail you? Smoke signal? What we'll be the best way to contact you guys?
Daryl Hatton: Best way to hit me find me on LinkedIn. Daryl Hatton mention the show or else I might ignore you because so many sales guy is trying to hit me up that way and you can FundRazr.com.
Manseeb Khan: Awesome Darryl. Thank you so much for sitting down today. I mean and thank you for opening our minds to crowdfunding and making the world a much better place.
Daryl Hatton: Thanks for having me talk soon.
Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.
End of Podcast
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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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September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
FINTECH FRIDAY$ (EP23-Feb 1): Getting Smart About Crypto and Insurtech Snapchat Models – Interview with Justin Hartzman, Co-founder and CEO of Coinsmart Crypto Exchange
NCFA Canada | Feb 1, 2019
Ep23-Feb 1: Getting Smart About Crypto and Insurtech Snapchat Models
About this episode: On this episode of the Fintech Fridays Podcast, our host Manseeb Khan sits down with Justin Hartzman the CEO of Coinsmart. They chat about education the average Canadian on crypto, the future of digital wallets and the new wave of insure-tech. Enjoy!
- Move over bear, OTC markets are biting at the bit
- Supporting Canadian entrepreneurs and awesome tech
- The latest in insurtech snapchat models
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: JUSTIN HARTZMAN, Co-founder and CEO, Coinsmart
JUSTIN HARTZMAN BIO: CoinSmart is headed by Justin Hartzman, Co-Founder and CEO. A seasoned business leader and entrepreneur, Justin’s passion for innovation has seen him lead numerous companies from start-up to successful exit. His proven track record of entrepreneurial success includes founding the first website brokerage exclusively serving online businesses, pioneering the industry and achieving over $100M in transactions to Fortune 1000 companies, PE firms, family offices and venture funds. He has also led multiple fundraising rounds working with Canadian and U.S. Angel Investors and VCs. In addition to leading CoinSmart, Justin is also co-founder of Needls , an Ontario-based company that uses Data Science to automate social media advertising processes for small to medium enterprises worldwide.
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more Fintech Fridays podcasts: Season 1 | Season 2
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Hey everybody Manseeb Khan here and thank you for tuning into another episode of Fintech Fridays. Just before we get started in this episode, I just want to do a little bit of housekeeping here. I just want to announce that we're super excited here at the NCFA to be launching the 5th Annual 2019 fintech financing Conference and Expo better known as FFCON19 which is going to be happening on April 3rd to 4th in Toronto Canada. FFCON19 is an immersive two-day conference and expo featuring high growth startups, emerging technologies, regulation, game changing projects, the latest trends, deal flow and investment opportunities. This year's theme is fearless with so much global risk in the air U.S. vs. China, Canada and China, Brexit, fintech industry adoption challenges, startup funding challenges, scaling issues FFCON19 is empowering companies with everything they need to build an amazing next generation business right here in Canada taking them global to show off to the world. We're launching it this week and registration and partnership opportunity will be opening up soon so stay tuned and get involved
without any further ado here's Episode 23 of the FinTech FRIDAY podcast with Justin Hartzman the Co-founder and CEO of Coinsmart. Justin thank you so much for sitting down with me today. I'm super excited to jump right into today's conversation.
Justin Hartzman : Absolutely me too. Thanks for having me. Hopefully I can give some good information be useful everyone. So, Shoot away.
Manseeb Khan : Yeah, I know for sure. So just for the audience for the five or six people that may not know essentially who you are and essentially what your company does could just give us a quick rundown of who you are and what Coinsmart is?
Justin Hartzman : Coinsmart is one of the largest Canadian exchanges out there for purchasing cryptocurrency. We have a vision our company to make cryptocurrency accessible not only to those who are currently in the market but people who are looking to come to the market. So, for the people who are there ensuring that we have the best tools, the best support wide coin selection we're actually getting some new coins in the next few weeks. So, they can come and have a really good experience on ramping/ off ramping and actually trading here in Canada. We also run a very large OTC desk. But on the other side of things is to make it accessible to those who want to know more about it. But really have a hard time understanding because a lot of technicalities that go into purchasing, holding, storing, cryptocurrency and we really want to make it as easy as possible for you guys out there. So, you know live 24hr for support for people. We have a great get smart section we call it that's not just a blog guide on how-to’s. We're always there to help anyone any way we possibly can.
Manseeb Khan : That's incredible I mean like one thing. I mean doing the show and just reading all the blogs and articles is the education is definitely going to be the key when it comes to this whole new crypto wave because I mean you know Joe Six pack definitely wants to get into crypto and to understand a little bit more but there's a lot of technical jargon out there. A lot of just words and terms that may go a lot over their heads and just not know.
Justin Hartzman : Well that's the case and we noticed that really early on even when I got into this years ago. I come from the tech side of things if it takes me reading an article two or three times or like the white paper from Satoshi myself how do we expect anybody other regular Canadian how may have some level of technology background but it's more just an everyday Joe that you're saying. How can we expect them to? So, what we've done knowing that is you know get smart section, so I'll bring that up again here probably a few other times we break down these heavier articles or terms into three levels smart, savvy and expert. I believe are smart savvy and something where you can read it at your level. So, if you're getting into the game, we'll break it down to his easiest, limited form. If you want to keep up in your game go to the next level and the third level you're filing where you're getting really technical into the pieces so we're allowing anyone from know nothing to know everything come in here and really understand it at their speed, at their time hopefully getting all the resources they need to keep up.
Manseeb Khan : That's awesome. I mean I love that getting into the game and leveling up a game I love that. So, I mean you probably got this question more times than you count. So, what makes you guys so much more different to say like the Coinsquare's out there?
Justin Hartzman : Well we love the guys at Coinsquare but realistically where we stand out above all is our user experience and our customer service our clients service. Are smart grantee we ensure that the same day we receive your funds the same day that we get your best to having you we have them done for you at that time we have actually live chats where you can actually speak with someone. These are all things that the other Canadian exchanges just don't offer. We know to bring this to the masses, which is what we all need as anyone as an investor in the person space is to bring the masses the market. So, we are really making and again back to our vision accessible. I think that is the key difference. Not only that we've simplified the rationale for not having to understand pairings. You can go from Fiat to any coin that we offer on our system. You don't have to pair it with natural pairing. We do all the background legwork for you. And we just believe that our interface our tools are simply easier and better provide more insight for our users.
Manseeb Khan : I love that. Like the fact that you guys are taking a lot of the heavy lifting a lot of the heavy burden when it comes to just getting into it because it's overwhelming in and of itself trying to get it to crypto exchange but it's an it's a headache if anything.
Justin Hartzman : Like we have instant verification. Who wants to go online and do a one level then get a follow up email then send in some pictures that have someone look at it and then maybe that day the next day, three days later, two weeks later and the hype of things? That actually get approved for in account. How's that very efficient? How is that fun? So instant verification you can actually go on net new client to us E-Verify, email transfer money, and make a trade literally within under 10 minutes. And we really want to make that accessible for everyone.
Manseeb Khan : That's yeah. That's incredible. So, I mean when it comes to crypto exchanges there's definitely going to be security risks. I mean recently in the news you're seeing all these crypto exchanges either just going under maintenance because of security risk or there's got hacked or whatever. What are companies like yourself doing to help mitigate security concerns when it comes to especially to newer customers?
Justin Hartzman : Well I'll give you some stats. Only 30 percent of our clients actually keep coin with us. The rest of them take them off into cold storage. So, we don't go first while 70 percent of the coins that our users or clients have. Which is great. We love that we encourage that. We help people understand how to do that and coins are kept on our platform. We don't go into specifics like we don't expect anyone else to and what we are doing for our security measures because that obviously gives it away a little bit. We have a secure in what we do on that side. Just the basic is not over 90 percent of our coins that users leave with us go into cold storage and that's just take off. Location not controlled by us. We use A third party custodial services who holds them. So that there's no chance of anything happening. This is the same custodial services. The other biggest exchanges in the world use as well. That's what they're good at. So, we give them the ability and it's very secure for us. We appreciate them as a partner.
Manseeb Khan : Wow that's just crazy 70 percent of coins on hold That's a very interesting stat right there. Yeah.
Justin Hartzman : Yeah. So, we thought to be completely different, we thought that maybe 20 percent of people would take it off because it's somewhat hard to set up a treasurer or ledger or a paper wall or a phone wallet. And then we expected the complete the opposite. But it turns out that 70 percent of our users almost instantly or within 24 hours. Take that off and move it to their own storage.
Manseeb Khan : That say that's crazy. I feel like I just recently read how digital wallets are becoming the new modern-day brokerage accounts because they're having millennials like me. They're trying to go as cashless as possible right. They don't want to be like walking around with like the dad wallet where it's all bulky, full of cards and cash and change and everything. So, it's that's crazy.
Justin Hartzman : And it makes sense . Listen I have I don't know how long it's been maybe 15 years I never had a wallet so I can still understand that. I don't like the bulkiness of it. Anything that I can do on my phone or you know with one card or multi cards is something I certainly look at doing all the time so I can appreciate that right.
Manseeb Khan : I mean like so like where do you where do you kind of see digital wallets evolving then. Because like it's definitely a very new trend. Hopefully I'll be here to stay. Where do you see it kind of going from here?
Justin Hartzman : Well I think if you look at it from a couple angles just adoption from the from individuals which we see happening based on what you just said more than that the mainstream adoption of the ability to use that in everyday use can I go buy at Starbucks? Starbucks did announce that they're going to be accepting cryptocurrency in sometime in 2019. Can you go and you know pay for your TTC fare here in Toronto, your subway fare with that? So, if you can start to do so most things you make available to you. They'll have more adoption, more use for. I think the other piece of that which a lot of people don't talk about or extend the conversation into is for that to also happen we have to think about some sort of currency which may or may not exist on the market in crypto space right now. That is a lot more stable, so you hear a lot more talking of the stable point over 2019/2020 because at the end of day I don't want to know I have let's say this for say numbers sake say I have 50 bitcoin and it costs me a quarter of a bitcoin to buy Coca-Cola. I don't want to go the next day. It cost me entire bitcoin when I know it was worth to me because so when you have something that's more stable. We always know that one to one is what it looks like. We can have a lot more interest in wanting to spend that because it's that gambling mentality that all of us have somewhere in us. If it's a dollar today but it could be worth three dollars tomorrow. why am I spending it today sort of thing? So, we have to have that stable coin which is what it's going to drive the you know the digital wallet and then the mass adoption has to be there. If there's actually a place they can spend it in the real world. So those are my 3 pillars.
Manseeb Khan : I mean just kind of furthering trying to hash out the full stable coin thing. What are the challenges and what's kind of uphill battle looking like when it comes to like a stable coin? Like the whole draw towards crypto currency and the whole draw towards. I mean I'm even tied up over the blockchain is the fact that it's not tied to anything, it's free like it's just in the ether right.
Justin Hartzman : That that's exactly the point. I don't have the answer. I don't know if anyone does that or I'm sure that their tons of people working on it. We don't know what that's going to look like, and we don't know where it's going to come from, and I think that's the whole rationale of why we're not. You know you look at the you know the S curve of adoption where before the curve even starts going up it gets into its inflection point because I think we're still very early and we haven't figured out all these pieces. But I think we'll see over the next year or two years some of these come to fruition and I guess at the end of the day what that has to be backed by. What's your question? Maybe it doesn't. Maybe it's just something that we know as one to one because the block chain says it's one to one that we can take in and out. So, it's not tethered to something specific, but it is stable. So, I don't have a really good answer for you. I think it's something that we're going to spend time thinking about. But I think there's someone out there trying to solve that right now.
Manseeb Khan : No that's totally fair. I mean who knows when the next year or two we might find something even better than maybe tying actual fiat or even just gold. We might figure out a way to make it truly one to one and we don't really worry about it. It could still be what we'll set up to be right. I mean switching gears. Like where do you see the evolution of cryptocurrency exchanges looking like?
Justin Hartzman : Well listen it's been a tough almost more than a year right now in this bear market. We saw a lot of fever December 2017 November, December 2017 to January 2018. We need to see prices start stabilizing up over that five six seven eight-thousand-dollar mark and at that point. I think you will realize this is here to stay. And when I say that with Bitcoin because Bitcoin is essentially the forerunner in this, everything is pinned to that essentially at this point. So, I don't make any predictions on pricing because I think that would be wrong. It's not really a position for me to be in that I do see brighter days ahead. Can everyone hold out for that and believe it until that time. That's something we'll have to wait and see. Right now, it's a topic that a lot of people ask me about. But what's going on about the Canadian exchange we see a lot of the exchanges here in Canada shut down, close doors, disappear even as recently as a couple of days ago. One of our friends out west went down for maintenance. Never came out of maintenance. It's not good for the sentiment of the market for our market to grow and continue to go where we hope it is. I really believe that cryptocurrency should be part of anyone's well balanced investment portfolio out there and we'll be as a new asset class looking for things like you know that company shutting down. I don't want to mention their names not nice I hope everything's OK with them it doesn't add any positive sentiment or trust to the market for us to go we need to have trust. So, we think that we need to see what I hope to see over this next 12 to 18 months is regulation common. People get scared about that, but I don't you know we fall as well as we possibly can. What does or does not exist out there today. And if we have a body covering over this regulation on it, we get. Yeah. People can feel more confident that they're going to have the issue like we've seen in the past. I think that's a positive thing for our marketplace.
Manseeb Khan : When it comes to regulation and regulations definitely term that gets thrown around a lot. I mean I like an ideal world. Let's talk hypotheticals theory in an ideal world what are these regulations looking like to you to give Canadian crypto currencies a fighting chance at least.
Justin Hartzman : Well I think Canada is so far is a pretty crypto friendly country and I hope it stays that way. You know we do it very legitimately, we have proper banking partners. We don't hide anything that we do out there. We get asked questions by the powers to be that exist out there at the OSC and we answer them, we provide all detail. We know we're a Fintrac company on our side. So, we report to Fintrac where need to be if there's any suspicious activities. We more of that out there. We need someone who's the governing body to watch over those not nefarious or shady characters opening up exchanges and taking people's money or not custodial servicing properly or you know being part of transactions that shouldn't be occurring cross-border. So those things if there's people in place with those rules or whatever the government body looks like which probably is the OSC here. Well it is right now it should be the OSC here in Ontario. It's a wait and see game right. We're going to follow a lot of rules what happens in the US and I think the US will be sort of the dictate what we see next.
Manseeb Khan : I'm glad Canada's actually as crypto friendly as it is. I mean a lot of people might not think about it actually like when you start reading into it and actually getting to know some of the key players. Thankfully Canada has a lot more crypto friendly than it usually is being how conservative Canada has been in its traditional past.
Justin Hartzman : Absolutely. We need we need that. Say we have an opportunity to be at the forefront. You're doing another space in technology like A.I. where we're a hotbed for A.I. right now. I love about space as well. I play in it. And as Canada you know we're a great country with smart people. We've a lot of people who want to do great things. But what we don't are the billion-dollar businesses because our market is really small here in Canada. So, we need to support those businesses and these cryptocurrency and new technologies and AI the best that we can to start creating these billion-dollar enterprises are from Canada into the US and Europe and Asia and really take the next level and put us ourselves on the map. So, it's something that anyone in the technology community which I happen for 20 plus years. You know something. I've sold three other technology companies prior to running this. I love it. And we need to support it. And you know everyone has to do their part in that space.
Manseeb Khan : Yeah. No. I mean I can agree with you. Yeah, we really don't have a billion-dollar company in Canada and it's kind of a shame because like the space and just like even just the fintech space and the crypto space and just like these new emerging spaces in Canada we have a lot of very bright, very talented people here. But sadly, we don't have the infrastructure as of yet to really keep them. And have like the next Google the next Facebook just out of Toronto or Waterloo yet.
Justin Hartzman : Well yeah to that point we see all those companies coming up to Canada for our talent but to be frank with you we are a technology company at the heart of things. You know. Fintech or not it's technology that runs this. It is a super competitive market. There is a war on talent. And what we're lucky is we don't see as many people running to the US to those jobs at Google anymore because a lot of them that do exist here and a really big startup community where people get their feet wet into these awesome companies and get their equity and all those pieces. We actually need to start bringing and I've seen this a lot we a lot of people from Brazil and other places around the world coming to Canada bringing their expertise here. So, if we could have people migrate to where we are where all this action is happening and bring other smart folks here you seem to be keeping good ones, but we need more. We don't have enough at this point. So, we need our supply to go up for sure.
Manseeb Khan : Yeah. No that's just totally fair. I mean I think it's like once we have an ecosystem once we have, I guess better foundations to support multi-million/ billion-dollar companies then I think talent's just going to pool in. Like you're going to have people from Brazil people from overseas saying hey wow Canada is an actual player and a force to be reckoned with. Why the heck not work for Coinsmart I mean they're killing it, they're doing X Y and Z in the market. I love to be a part of that. That's something I could definitely myself being a part of.
Justin Hartzman : Yeah. Breaking news Quadriga just put out a brand-new message 12 seconds ago of a file for creditor protection in the Nova Scotia Supreme Court. So that's big bad news here in Canada. That's not what I want to hear. I'm sad to be reading that. Well they are a competitor. So, I want to see this success of the market and this is definitely not helpful for that. You know we just talked about that earlier.
Manseeb Khan : Yeah. Oh, that's wild. That's crazy timing. I mean what you said about in 2019. I mean like it's a brand-new year.
Justin Hartzman : I'm super excited by the OTC space and the large financial institutions getting into it. We see some great stuff happen at the end of this year. It's coming out now on the custodial services for institutions and as institutions come to this market, they'll be investing in it. People will know about it more because traditional investors will see it as part of their portfolios and have an option to buy through those which I think is going to drive more positive sentiment more trust the markets. I think that's a really big piece having them come in here. OTC there's a lot of opportunity for large desks around the world to move heavy amounts of coins. So, I think that's exciting for us, we're playing a role in that right now, connecting great deals and AI obviously playing a big role. And you know we deal with some partners where we can look at how we hedge coins coming in or not much more if we're not matching them or catching them. So, we look at those pieces, can we in Canada as regulation comes offer things like automated financial products much like a Wealth simple can we do that in the crypto space. Understanding based on artificial intelligence. What your risk tolerance is knowing that your risk tolerance can get you to a bucket of crypto currencies that's managed by AI to give some great results for you in the long run. So, a self-managed driven bucketed goods of ETF funds that I think is something that's really exciting for us as we move forward. Wealth simple you know very respectful company. I went to school with Mike the CEO there I think he's a great guy. Good buddy. They've done something great and they've helped bring a lot of millennials to the market by going Hey you know housing is a little too expensive for us until we can afford that or if we decide not to afford that. We want to be investing. But traditional investment house you're going to your bank or some things that you're doing doesn't really know anything. It's not our way of doing it. If I could go on my phone and answer a couple of questions and know that my money is being managed the appropriate way using, you know proper managers as well as artificial intelligence. That's so cool and that's everything that we're looking for. Can we bring the crypto space?
Manseeb Khan : I mean like just think of it as more of like a lazy perspective of the fact that you have to actually go to a bank, book a meeting wait for your broker to actually sit down with you and then kind of go over it with you. Like just that just so much like hey if I can do this in my underwear while making coffee. Why the heck. What an odd design.
Justin Hartzman : Yeah, it's not even that like you know you go in to. Yeah. I don't know people realize this. This is the same thing you talk about social media marketing. I'll talk about that afterwards, but you go into your bank and you set up an appointment with a quote unquote investment professional. What made that person an investment professional? That's someone who's a year out of school. They're trying to do something they're offering products at just the bank has available to you which are clearly well I don't see clearly not but not the best investments that I'm sure you could find better if you find some to help you with that. That's not really what you should be doing. And then the alternative is going to a professional who's been doing this for a long time and manages huge amounts of money but there's a significant cost to that. At the same time which you don't want to bear. So, this technology is the longest offers you got from going from someone who knows nothing to the people who know a lot. You know not clairvoyant but know a lot and bring it to everyone. I think that's really key.
Manseeb Khan : I mean you briefly touched on the social media aspect, but could you expand on that.
Justin Hartzman : Well it's just a social media side of things when I mentioned the same thing. You can go to a social media management company but if unless you have the biggest budgets or you're the biggest brand out there again they're putting on you they're fresh out of university student who's come on to manage your account to answer the phone call for you but they don't manage billions of dollars in ad spend millions of dollars not spend it on all the levers to pull or what's going on. They're just they're doing a job. It takes time to get there. That's the whole point. When you're getting into a market anywhere where it's financial side or social media marketing you want the people who are taking all that amazing top level knowledge and distilling it down into an automated way for you somebody who didn't have access to that previously. So, I just see this as a very big parallel between those two industries.
Manseeb Khan : I love it. I mean look that's kind of where you're seeing challenger banks winning that battle right where you're having when you go to a bank. You definitely have a limited deck of cards that you're playing with comparatively if you go to a challenger bank and even taking it one step further going to open banking and start giving people more options. That's where banking gets really exciting. I mean it's an it's a very weird statement to say a banker getting excited but nonetheless that's open banking is definitely where banking is going to get really exciting because customers are going to have that much more options to switch mortgage plans, to savings accounts may have.
Justin Hartzman : Yes, it's happening a lot right now in the insurance space like just going to your phone buying insurance plan. They want to see your car your car first you can take a picture of it. If something happens to your car you take a picture of it and show it off and you don't have to wait for the adjuster to come in. And they use A.I. to analyze how bad that was versus the same car that had a similar picture last time what it cost to fit all those technologies are really simple things. Well seeking the personal aspect of it well these don't need to be personal. I don't need to wait for 9:00 at night because adjuster in Toronto is busy after a small fender bender for him to come to my house. Why wasn't that picture just sufficient? So, I'm totally with it. I am a big proponent of having technology make things easier across the board.
Manseeb Khan : Yeah. Insurance tech is definitely something that not a lot of people talk about. I mean there's definitely starting to be a little bit more of a buzz like insurance tech. Yes definitely. I mean it's a rabbit hole that I would definitely want to discover more on the show.
Justin Hartzman : I love that space. I think is super interesting I listen to a lot of podcasts not specifically about insure-tech but startups and insure-tech and banking tech and fintech and AI obviously big things and Block chain right now. You know like you I was just listening to a great podcast with the CEO of Cover in the U.S. Only right now. But you know simple things like the fact that you have homeowner’s insurance or renter’s insurance you know you're renting somewhere you can pay your 20 bucks a month in case something happens. The fact that you can now take your phone buy it on there. Walk around your house just with a video camera on your phone show the TV that's on your wall, the kind of couch that you have. You know if you have any jewelry or keepsakes show it on there. It's not a he said she said sort of game when the insurance companies are in business not to pay you. They don't want to you know if you have that 4k sixty-five-inch TV on the wall that you love that cost you four thousand dollars and you don't have a receipt for the can say no you don't have it. If you bought insurance this where you took that video and it's uploaded to your file right there in that app it just stops those problems. You know what it makes it harder for people who are doing nefarious activities like going like I had a 4k TV when they had a little 21-inch tube TV in their house who are scamming. Well good for him. We don't want those people scamming. They mess up everyone else's rates out there. Let's see what you have. Let's replace it with exactly what you had or better and let's all be on the same page. That's what helps everybody. Well it might screw people who are trying to look do things are off center. It helps the rest of us as the masses and I think that's a super important piece.
Manseeb Khan : Right. So, it was the name of the company that you just mentioned.
Justin Hartzman : It's called Cover.
Manseeb Khan : OK cool. I mean. Yeah. Take it take pictures at ensuring like you mention a bunch of jewelries. Instagram's definitely going to have a field day when it comes to knowing what the favorite rapper or artist through it you may have fake chains to try to do that.
Justin Hartzman : I assume like hip hop. And we came on this call I heard you. This is some good tunes in the back.
Manseeb Khan : Yeah. Yeah. Just like I was like I put some a little bit of elevator music before I wait for you to jump on.
Justin Hartzman : I liked it. I appreciate that.
Manseeb Khan : What's the future of Coinsmart looking like in 2019? What's some of the challenges? What's that you guys are going to embark on that I guess some of the listeners and some of the people using Coinsmart to get really excited.
Justin Hartzman : Yeah, I think the future for us is to continue to make it accessible for everyone. Offer more ways to get your money on and off of our network or just super simple. Increased ability just like boots on the ground where they'll be in contact with us or see possibly store front locations. We're looking at expanding into other territories outside of Canada. So, whether that be Europe and Asia or wherever it may be right now. So, a lot of expansion across the board. We really want to make the easiest to use, most accessible, most robust platform out there without over complicating everything. So, there's a huge coin selection like which as I said we're adding six and seven more coins in the next five or six weeks. And then again just simplifying, simplifying simplifying while increasing the security in the background. That's what you'll see out of us over the next six to eight months.
Manseeb Khan : And you can't tell us what coins you guys are adding right?
Justin Hartzman : We can't yet. We have a long list than that were you. So, we have to look at a lot of stuff, it's not easy list. That's just put anything on. We have to understand as truly utility coin in all our security and if to run it through. We have one-hundred-and-eighty-page guideline of how we determine if it goes on or not. But we have narrowed it down to six and we'll be spreading it out come online shortly and everyone wants to know but to stay tuned we're happy. We'll start out see shortly.
Manseeb Khan : Also, to wrap this up what would be the best way to either contact you or Coinsmart. Why do we e-mail you? Do we Snapchat? Do we tweet you?
Justin Hartzman : Yes. Also, I'm always available and my team is you know just go to coin smart dot com click on the live chat. You can chat there just do a support ticket or if you want to ask me a question or have anything you want to know. I put my email address for everyone. You can email me at me at J H so it’s my two initials Justin Hartzman. So, JH at coin smart dot com also.
Manseeb Khan : Awesome So Justin thank you so much for sitting down today. We had I mean I loved the conversation that we had today.
Justin Hartzman : My pleasure thanks for having me. And it was useful to some people and gave some good info if you guys have any questions please feel to reach out to me guys. J H at Coinsmart dot com.
Manseeb Khan : I really hope they do because this is a very smart individual.
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September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
FINTECH FRIDAY$ (EP.22-Jan 25): Reducing Regulatory Burden by 25% in Ontario – Amar Nijjar of R2 Capital & Investments
NCFA Canada | Jan 25, 2019
Ep22-Jan 25: Reducing Regulatory Burden by 25% in Ontario
About this episode: On this episode of the Fintech Friday's Podcast, our Manseeb Khan sits down with Amar Nijjar the CEO of R2 investments. They chat about how R2 is helping innovate the real estate space, the Ontario's Securities commission hitting their 25% burden reduction goal, and Canada becoming a force to be reckoned with. Enjoy!
- The complexities of Canada's regulatory burdens are preventing us from becoming a global player
- All innovative entrepreneurs in the fintech sector should be getting behind the burden reduction initiative
- Commercial real estate is a good asset class and now open to regular investors
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: Amar Nijjar, President & CEO, R2 Capital and Investments
Bio: Amar is the Founder of R2 Capital and Investments - Canada’s First National Online Marketplace for direct investing into commercial properties. Under his leadership, R2 has to grown to 25 employees and in 2017 transacted on $207MM of Debt & Equity capital. R2 has funded several projects diversified by property type as well as location. Amar has funded over $10 billion and underwritten over $30 billion of real estate during his career. Prior to starting Amar was Practice Leader and Executive Vice President at JLL's (Jones Lang LaSalle), Debt Capital Markets group. R2 continues to add talent to it’s fast growing operations and is looking for leaders of tommorow. Amar holds an MBA from Schulick School of Business at York University and an undergraduate degree in chemical engineering.
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more Fintech Fridays podcasts: Season 1 | Season 2
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Hey everybody Manseeb Khan here and thank you for tuning into another episode of Fintech Fridays. Just before we get started in this episode, I just want to do a little bit of housekeeping here. I just want to announce that we're super excited here at the NCFA to be launching the 5th Annual 2019 fintech financing Conference and Expo better known as FFCON19 which is going to be happening on April 3rd to 4th in Toronto Canada. FFCON19 is an immersive two-day conference and expo featuring high growth startups, emerging technologies, regulation, game changing projects, the latest trends, deal flow and investment opportunities. This year's theme is fearless with so much global risk in the air U.S. vs. China, Canada and China, Brexit, fintech industry adoption challenges, startup funding challenges, scaling issues FFCON19 is empowering companies with everything they need to build an amazing next generation business right here in Canada taking them global to show off to the world. We're launching it this week and registration and partnership opportunity will be opening up soon so stay tuned and get involved without any further ado here's Episode 22 of the FinTech FRIDAY podcast with Amar Nijjar the CEO and founder of our R2 investments. So, Amar could you just for the audience give us a little bit more of essentially what R2 capital is since you are the CEO and the founder.
Amar Nijjar: Sure, R2 Capital is Canada's first online marketplace a technology-based platform that connects retail and institutional high net worth investors alike into private commercial real estate deals, income producing properties, shopping centers, plazas, medical office buildings, apartments, multifamily housing as well as higher yielding development projects. You see a lot of construction cranes all around Canada. But especially in GTA a lot of action in Victoria Vancouver. Montreal is picking up right now, so we are in for a real estate guy. I used to work with Jones Lang LaSalle head of their debt capital markets group and before that I worked with some of the best in corporate finance. So, BMO, RBC and CIBC. And then we saw technology really disrupting how capital formation happens within the commercial real estate industry and we saw enormous gaps and that's what we're here to bridge to connect ordinary investors for small amounts to buy into large commercial properties or development projects for smaller.
Manseeb Khan: That's incredible. I think that's something a lot of people can definitely get excited about. Real estate is something that everybody, every entrepreneur wants to get into. So, this is incredible.
Amar Nijjar: Yeah that's right it's fixed income and steady returns it's predictable you know money is a little bit illiquid but that's the nature of the industry. You got to buy and hold. It's not like stocks and bonds and ETF where you can get in and out. Certainly, those investments have opportunity in the portfolio of any investor, but commercial real estate is more like fixed income other than illiquidity I think it's a very good asset class to invest in.
Manseeb Khan: Yeah, I can't agree with you more. So, on top of everything else that you're doing. You are actually sitting down on the regulatory burden reduction committee and helping out regulators like the Ontario Securities Commission hit their 25 percent burden reduction goal and challenge. Could you just explain that a little bit why is this goal important? What does this all mean and essentially the role of this?
Amar Nijjar: Yeah so myself along with a few other individuals’ entrepreneurs in the industry at NCFA national crowdfunding fintech association. There's been a steering committee for burden reduction formed at that end and I put my name in the hat and this selected me for that's just all a new initiative over at NCFA and so thank you for listening to this. I think it's very important for all the entrepreneurs in the industry because securities laws obviously that protect investors but entrepreneurship especially in the fintech space that a lot of gaps and small businesses, small entrepreneurs trying to have a vision to do something bold and sticking with Canada and not going to Singapore or U.S. or UK those economies have much better opportunities. And the regulatory framework is definitely a lot more flexible. We are laggards in Canada no doubt about that especially in Ontario. But what's really exciting right now is to the extent Ford government has really taken taking the bull by the horns, red tape reduction, burden reduction. This is exactly what we needed. So in twenty nineteen I think it's going to be an exciting year and then we're very excited we'll also see Ontario Securities Commission Chair Maureen Jenson come out with a circular notice to the industry internally and externally exclusively on burden reduction so we can talk a little bit about that too but it's a great time for entrepreneurs to get behind this because this may be sometimes a secondary party a for a lot of entrepreneurs. We're all busy hiding in that building our technology and building our businesses and hiring the best talent and keeping them and also renting the space and every little thing is you know. But you are only as good as a regulator would allow you to. So, there is absolutely no doubt in anybody's mind that should be that if they want to be in crypto, in online investments and online marketplaces technology-based sale of securities security tokens and block chain they need to get involved. They need to lobby, and they need to talk to the Minister of Finance. They need to talk to the securities regulator and get our collective voices heard because those entities are open to change and they're willing to listen. It's just we need to make an effort to make them understand what the gaps are.
Manseeb Khan: Yeah. Again, I can't agree with you more. It's important to me like you mentioned Canada's very laggard, Canada's traditionally very conservative when it comes to these kinds of changes and I mean its kind of makes sense why they want to make sure that what they're betting on it's actually right for investors. So, could you just talk a little bit more of before you. Before we touch back on what the minister and like what their new vision is. Could you just explain a little bit more of what the current regulatory framework looks like and what the key objectives are of said regulators.
Amar Nijjar: So, the current framework is extremely, extremely complicated. It is mind blowing a complicated you need a lot of legal advice which is extremely expensive and even then, the there is a disconnect between the legal industry and the law industry. The entrepreneurs what and how we are trying to build a business and the securities regulators expectations of the policy in the favorite set that are huge gaps are very wide right now and they need to be bridged. And where do we start. For example, let's talk about harmonization. So, in Canada like we have a dozen different countries, every province has their own mind on how to sell and regulate investments in securities Ontario Securities Commission is the most conservative and the biggest one at the same time too. Ontario has the most number of investors. B.C. has certainly got a role model in this regard and they've been consistently getting the best stores by CFIB. The Canadian Federation of Independent Business Small businesses out there. So, Ontario has been a laggard. It's good to see regulatory changes political changes coming. But there is so much more to be done harmonization for example that I'm talking about. Every province has their own mind in terms of how to regulate that. So online portals now are national and international in nature. There is no physical boundary, there's no paperwork. It's all digital. it's online. It's on the web. So, the gatekeeping of where an investor comes from and how they get into a deal, what amount they can invest in things of that nature get extremely complicated. So, it's like in Canada somebody is trying to run a national platform it's like you are trying to operate in like 12-15 different jurisdictions globally within the same country. So that is extremely painful for entrepreneurs.
Manseeb Khan: That yeah. Oh my God I can't even like you are explaining that it's very complicated. That's like for me a little bit of anxiety. Could you just. So, what do you see the biggest gaps being that you briefly touched on, but I guess to you what you see the biggest gaps being?
Amar Nijjar: So, for example in Ontario there is a so-called crowdfunding exemption which about three years ago was announced by the regulators and the government at the time to promote capital flow into small to midsize businesses the way investments get formalized and capital formation works. The accredited investors and offering memorandum and some of those exemptions without getting into too much technicality essentially has a lot of burden and cost for a small and medium sized business to raise capital from the investment community. If they were to rely on some of those exemptions so they came up with this funding exemption. It doesn't work. It's been three years at least to the best of my knowledge nobody has been able to use crowdfunding exemption. It was supposed to be if you're trying to raise small amounts a million two million dollars it was supposed to make it easy for you as a business owner to tap into investment community a.k.a. crowdfunding to bring those investors into these deals without having to spend a fortune on the lawyers and the audited financial statements and a plethora of two paperwork. Ironically not one, not one. It's like blasphemous. Nobody's been able to use that exemption because the way it has been structured its just lip service. It does not work. For example, there's a marketing restriction. So, if you are running a small business and you want to raise a million bucks and you go to our portal or some of the other portals like a friend finder or a you know lending loop and some of these others. They cannot rely on this exemption in Ontario and advertise to the broader market on the Internet that we are raising. You are raising money to us through our portal to the investment community and investors can invest. There is an advertising and marketing restriction and yet on top of that there is an audited financial statement required even though you only get half a million dollars of capital. And anybody who is doing the audited financial statements knows that they can cost anywhere from twenty-five to fifty thousand dollars. So, you can imagine you're trying to raise half a million bucks and you're spending 25 to 50 thousand dollars on audited statements alone per year right. And then whatever is left you are this cost of capital raise is portal cost as well. The regulatory filings, the legal costs. I mean the model has been put together in a way that it's completely doomed to fail from day one. And the proof is that nobody's used it. So, a lot of these things need to be rehashed and change and the industry together needs to verbalize and vocalize their pain points to make the change happen.
Manseeb Khan: How else is that impacting the industry especially to new entrepreneurs and small business in the fintech space aside from the crowdfunding.
Amar Nijjar: I mean there's a lot of excitement. People go to these conferences a lot of young people. There's tremendous amount of talent in Toronto and Ontario and Kitchener, Waterloo. I think we have a good university. We have a good work ethic. So, we have a we have a great talent pool and a lot of those millennials are interested in jumping into the entrepreneurship world. And it's very challenging. Access to capital is extremely challenging. The regulatory framework to set up your business and your company. The red tape that you have to go through is excruciatingly painful. But the worst is if you're in any business that can be perceived as in the business of selling investments or furtherance or trade you get regulated and now how you get regulated, how you get licensed and how you maintain that there's a tremendous amount of burden on smaller firms to get the answers in a timely fashion. It takes forever. There's no simplicity in the process. It's extremely complex and it can be very discouraging for a lot of small entrepreneurs. And we've seen a lot of companies either never really took off or they took off and they just failed. And there are numerous examples where in Ontario we were really pushing talent away or we are setting them up for failure because of the red tape and the burden is huge. It is hard as it is to start a business. You know the wages are very expensive the rents very expensive in Toronto and somebody is able to sustain the business organically. The regulation and the burden just to the complete killer. So, there is a huge long list of the tombstones and the graveyard of all these young entrepreneurs who wanted to start up something, but they just got caught up in all of this and that it was a failure.
Manseeb Khan: Yeah, I mean hopefully with these new regulatory changes and just hopefully the excitement in the fintech space in and of itself hopefully allow these young entrepreneurs can kind of look past that and not like you like we mentioned before kind of go abroad and start businesses elsewhere like you mentioned in Singapore when may have you. You did briefly touch on the CFIB report. Do you have any comments based on the report that just came out?
Amar Nijjar: Yeah. So, I mean the people can Google that and read more about that. There was a financial Post article on that, but I think one of the most encouraging things are that we were consistently getting a C, C minus D rating for last several years I think over a decade. And finally, we jumped from C minus I believe last year to A minus. If my stats are right something like that. So, we made a significant jump but at least a direct result of the Ford government and you know Fideli's office trying to push down at the grassroots level to cut the red tape and reduce the burden. So, Ontario opened for business team. It's certainly going around. And what was personally very encouraging for me was that on January 14th only 10 days ago or so Ontario Securities Commission came out and they have set up an agenda, a task force to reduce the burden on smaller entrepreneurs like us by 25 percent. And this is directly the result of the governments that the government of Ontario is open for business action plan. So, I think we definitely need to give kudos to the government to helping us out. It does flow to the grassroots level now. It's too early to see how the results are and how it all pans out. But I think the first step. Ontario Securities Commission is asking the questions. Anybody interested in this they can just google burden reduction. Ontario Securities Commission staff noticed, and they should be able to see summary of that. But the regulator is starting to ask some of the key questions. For example, are there operational or procedural changes which would make our day to day life easier or less costly. Are there ways to get greater certainty regarding the regulatory requirements. Because we have oftentimes waited for over a year to get approval on something simple lasting bureaucracy. So, when we see this it's very encouraging. There are questions around their forms and filings that we and other market participants need to submit. That can be lessened. Are there other items that are unduly burdensome. So, all of this is very encouraging, and I really hope that our community will participate. They're asking for feedback, I think. Craig Asano at NCFA is doing a phenomenal job putting it all together. So, people should reach out to him and write to him and also make the comments available to Ontario Securities Commission Act. Comments@OSC.ON.CA. It's very for the industry lobby just together.
Manseeb Khan: Yeah. Hey, I got a shout out Craig. I mean that guy cannot get champion enough. He's doing absolutely incredible things in the industry and I mean having amazing people like you and having people like Craig and just having so many incredible people in the industry advocating for change I think I really think it's just a matter of time because every single person in the fintech industry has a very great personal brand behind them and they have amazing audiences behind them so it's like hey where you guys are just shedding light on issues and topics and concerns. So, I think again I think it is a matter of time. Everything we happen.
Amar Nijjar: I think one of the things and what you're doing is also extremely helpful. You are part of this change. You are going to make this incrementally better for each of us and maybe exponentially better. And what you are doing is extremely important to get our voices heard. And you know in the Internet age of the blogs and podcasts I think the message goes fast and people appreciate that. But you know what. One of the guys that I think you should interview on your next one should be Grant Vingoe. He is vice chair OSC, Ontario securities commission. I've an opportunity to meet with them. Very, very nice individual and very professional. He understands the pain point and he has expressed enormous willingness to help the industry. So, I think they need to be on the podcast. There is another individual Naizam Kanji . He's director of the M&A and he is the special advisor to the chair on regulatory burden reduction. You should get Naizam Kanji on your show as well. And these things are extremely important to do.
Manseeb Khan: I just wrote that while you're giving me the names, I was writing them down to lock them in for the next couple episodes, so we'll have like a little burden reduction regulatory a theme there. We mentioned the minister a little bit. Could you just be looping back? Could you explain what the guidance kind of looks like. What are you excited about? Would you not accept about? I mean there's definitely a lot of excitement behind this but there's probably a lot of concerns, could you voice a little bit more on that?
Amar Nijjar: Yeah, I mean look this is all positive. It is definitely extremely positive. So what Fideli's office, what Ford government's messaging open for business burden reduction all these good things that they're saying. What's encouraging is that it would appear that it's just not lip service that it's actually getting pushed down to the grassroots level through the government and associated bodies whether that's ministry of labor, Ontario Securities Commission, financial services commission of Ontario and many other layers of regulatory bodies out there. So, it's very encouraging step. And they've made a blanket statement 25 percent burden reduction. And I think that's extremely important to set. That's kind of a milestone because other than that it's just a bunch of words and it doesn't mean anything. So that feedback down to the different government bodies to take action is a bubbling through the industry. So, it's very encouraging to see that.
Manseeb Khan: Is there anything else that you're currently excited about. I mean being in the real estate space, being in the fintech space now , 2019 is a new year. I mean everybody has their one thing that they're excited about. Could you just for a second give us a little bit more insight of what you're really excited to see in 2019.
Amar Nijjar: Right. So, look you know perhaps I can talk about platforms like ours and I'm sure there are many others that in different industries the value that they're creating. So, what is R2 fundamentally do that's different than the public markets and other opportunities out there the public market the reach stock somebody can invest in a real can or some of these other equities out there it's public market risk. You get 4-5 percent distribution and then the real estate could be fine if the stock market takes a tumble. Your stock does too. The large real estate is in the hands of billions of dollars of pension fund managers, investment managers, institutional money managers, large family offices to them basically high net worth guys and girls. But the masses they're like an estate look around real estate is all around you. But how do you participate in that. How do you take a little investment off your holding into real estate? It was impossible because all of that is private. You can buy it you know if somebody has as rich dad, they can certainly put together to few million bucks and buy a property worth 8 million take a mortgage for five or six and put the 2 million is cash and have a nice 15 percent return over per year for the next three to four years right. But fundamentally the value we are creating groups like ours are creating in the industry that we are allowing investors to invest into those kinds of deals for small amounts. Ten thousand dollars, twenty-five thousand dollars and sometimes even smaller. So what we are doing is we're opening up a source of capital for property owners and developers who need that capital formation to be able to do more product yes to charge a fee but they're happy to share in the profits and the rental income and development profits and at the same time we are opening up investment opportunities for small investors to invest into property direct. So how are the regulators and the government allow us to work is going to fundamentally change lives of many people and that investment in wealth holdings right. The Wealth simples. You know what they have done allows small investors to go online in a fun exciting manner. But those groups like ours we are only as good as the regulator would allow us to. And the bandwidth is small. Right. Like our runway is small so if we either we get over the hump and we survive, or the burden takes over and it kills the business and then the innovation moves to other jurisdictions then we as Canadians we cannot afford to leave talent from Canada elsewhere.
Manseeb Khan: Yes, I can't agree with you more. I mean just talking to like CEOs that are building companies in Canada, build companies in Toronto. The talent pool in Canada is actually incredible something that a lot that a lot of Canadians if not maybe the world may overlook and just letting that die and letting about to just kind of go to waste that just would be such a shame. But I mean on the positive end are seeing a lot more last year especially this year a lot of international investments coming into Canada actually seeing hey wow Canada actually has some really talented people, very interesting very, smart people and they're building some very incredible. Let's be part of this. Let's try to grab a piece of this or let's try to build this to become the next Singapore or what may have you right?
Amar Nijjar: Hundred percent. Hundred percent. We are attracting talent from other jurisdictions. I think there's a lot more to be done there. We are certainly you know with just tons of talent here that we need to retain better. You know I think diversity is our strength. I think with all the backgrounds we have that that's driving entrepreneurship that comes along with a lot of immigrants. They come with the dream. And I think all of that makes Canada a unique place. So, our regulators and the government need to help us to bring some of the success stories outside of Canada and make a global success story. Canada's a small market and economies of scale are incredibly difficult to attain in Canada. But on top of that we have all this burden. So, unless we innovate and be flexible, we cannot create delays. Look at how many Canadian success stories are out there especially in the technology space compared to the stories coming out of China or India or USA obviously. Right. We are far behind, but we can do so much better.
Manseeb Khan: Yes. I can't agree with you more taking stories like yours taking stories like some of the past guess that we've had or just Canadian success stories and kind of projecting it into the global marketplace. I think that's just going to help us even more and let outside eyes kind of understand like what's kind of going on and hopefully help because Canada like you said is a very small market and it has such a potential to be such a power player. But as of yet like we're making steps but we're not there yet. Right.
Amar Nijjar: So, thank you for your time. I do have to run for a meeting unless there's any last.
Manseeb Khan: No, the last one would be what's the best way to contact you. Do we email we Snapchat you? For people to want to get into or to R2 investments or just to talk to you directly and to understand a little
Amar Nijjar: My personal contact is best on LinkedIn which is Amar Nijjar and R2 without the D so if somebody linked in me that I am I'm more than happy to accept the invitation to engage with them. Our Web site to learn more about how we are innovating in the spaces r2-re.com and re as in real estate.
Manseeb Khan: Awesome. So, Amar thank you so much for sitting down me today and yeah, I wish you all the best and we'd have you on our show again.
Amar Nijjar: Thank you.
Manseeb Khan: And yep that's it. That's the on the show on the behalf of Canada's leading national fintech crowdfunding association. I wish you an amazing FinTech Friday and weekend.
Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.
End of Podcast
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Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
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FINTECH FRIDAY$ (EP.21-Jan 18): Meritocracy, Decentralized Innovation and the Power of Collaboration, CEO Next Decentrum, Hussein Hallak
NCFA Canada | Jan 18, 2019
Ep21-Jan 18: Meritocracy, Decentralized Innovation and the Power of Collaboration
About this episode: On this episode NCFA Fintech Friday's host Manseeb Khan sits down with Hussein Hallak the CEO of NextDecentrum. They chat about AI in the education space, mentorship, and what decentralized innovation looks like to him. Enjoy !
- Humans aren't perfect but we've managed to create online meritocracy through communities and value systems
- A vision for global education and decentralized access to innovation and mentors
- Top advice to startups and entrepreneurs launching new ventures (passion, idea, ability to add value)
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: Hussein Hallak, Co-founder and CEO, Next Decentrum
Bio: Hussein Hallak is the CEO and Founder of Next Decentrum, a blockchain education company. Evangelist at Launch Academy, one of North America’s leading tech incubators with over 600 tech startups incubated and over $150 Million raised. Serial entrepreneur and startup founder with over 25 years of business experience. Developed 20+ startups and mentored and trained thousands of entrepreneurs. Creator of Intro to Blockchain, The Blockchain Course, Blockchain Business Fundamentals, Make the LEAP, The Startup Course, and the Lean Entrepreneur Acceleration Program. Strategic advisor for several successfully funded tech and crypto startups including Fintrux, Interfinex, Traction Health, and Peace Geeks. Marketing advisor for leading conferences including Fintech & Funding, Traction Conf, CIX, and Van Funding. Graduate of the Oxford Blockchain Strategy Programme. BSc in Electronics Engineering. Featured in Forbes, BBC, Entrepreneur, Roundhouse Radio, and Notable. Passionate about tech, lean, startups, design thinking, impact, blockchain and decentralized innovation. I live to inspire entrepreneurship and unleash breakthrough innovation through connection, collaboration, and community.
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more Fintech Fridays podcasts: Season 1 | Season 2
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Hey everybody Manseeb Khan here and you are tuning in to Episode Twenty-one fintech Fridays. Today we have an absolutely incredible guest Hussein Hallak, Hussein to say thank you so much for sitting down with me today.
Hussein Hallak: Oh, my pleasure. I'm looking forward to it. Thank you for having me.
Manseeb Khan: Yeah. Know for sure. So just for the audience could you just give us a little bit more of. Tell us a little bit of yourself who you are and essentially what your company does.
Hussein Hallak: Yeah. So, I am the CEO of Next Decentrum. Next Decentrum is a company that builds a tool called the CXO.AI and the aim of this tool is to help Everybody learn from or everybody learn from everybody else. So, we believe, and I believe I grew up in and out of Syria Damascus. And there the biggest challenge was it's a country where there is not the same thing that we have here in Canada. where you don't have people mentoring you helping you. You really have only the education from the government and that's about it. So, I when I reached here in Vancouver five years ago to be probably in a couple of days it will be five years ago, I realized that everybody is into mentorship. Everybody is mentoring somebody else. Everybody has something that they want to contribute and give to somebody else. That was a big mind opener for me. And what I realized is everybody has something to teach and everybody had something to learn. Now I lived that for the past twelve years in Dubai but I was thinking that that's only me and the people around me but I realize now this is a mindset that a lot of successful people have, a lot of people around the world want to learn from those people instead of just reading books and instead of just attending courses there's a lot you can learn from someone that can guide you through the way. And this became very valuable when I spent over three months trying to learn how a Bitcoin transaction works. I'm an engineer but I studied engineering so it shouldn't be that hard, but the reason is I couldn't find the right material. So, a lot of mentorship is guiding people and getting them to find what they need really, really fast. So, I thought this is very powerful. Can we build a tool that help people teach through content curation? That is what we're building. That is what we're super excited about. And I think and I believe that it's going to change how people learn. It's going to be a great addition to how we learn right now. We're going to provide many people the ability to share their experience share what they're capable of doing to contribute and a lot of other people to learn from them. So that is what we're building. That is what I'm excited about and that is a little bit of my history I have a long history of building many startups. And this is what I do as an entrepreneur. All my life that's all I mean in building startup taking that idea from just an idea to a company.
Manseeb Khan: Yeah. No that's it's you do have a very incredibly extensive background in entrepreneurship and just not only just building amazing companies but also helping mentor like. It's not like thousands of entrepreneurs and giving and like you being their guiding light of like "Hey these are the mistakes I made as entrepreneur. These are the actually really rock-solid advice that I have gotten saved my ass more time and time again. It's incredible that we have amazing people like you that are not only out their mentoring people but also creating a platform, an educational platform for everybody to kind of get more or less the same kind of mentorship or just that one tool one that you're offering for all looks for such amazing people.
Hussein Hallak: That's so kind of you. I realized by working and having a lot of people helped me to get to where I am, and I couldn't contribute back to them. So, the only way I could actually paid back to them is to pay it forward by helping other people and my condition to helping other people for them to help other people. I think that's how we build a community of interconnected people that are committed to each other that that creates prosperity and help people thrive. Everyone around us .Like I was telling a friend of mine that this is he asked on me why do you do that? And I said because it gives back to me it made me feel good, but he pressed me even more. And I think it's a matter of survival. When you grow up in a place where everybody brings you down and not intentionally but just being in a place where oppression is just the norm. You grew up kind of knowing that unless people around you are uplifted going after what fulfills them you cannot realize your own dreams. So, it's a matter of survival that you need to uplift other people and help them achieve greatness for you to achieve greatness. So that's why I do it. It's a very selfish approach of why I do it.
Manseeb Khan: Just building this new ecosystem of just entrepreneurs and just helping each other and just creating bridges. What is incredible because now you can go and ask other CEOs or other founders for help and for questions and everything because they've probably gone the exact same things you are, or they are probably haven't faced that problem yet. like Oh crap. I didn't even think about that OK. What are you doing? OK. That kind of makes sense. OK let's do that too.`
Hussein Hallak: Yeah. It's very it's very uplifting. Mentorship is probably the lifeblood of successful entrepreneurs. Your basic premise is you can't get there without a great team and a lot of supporters and people rooting for you. People helping you. Yeah so definitely an essential thing. I completely agree.
Manseeb Khan: I mean I like I don't want to give a shout out really quick to Craig. Craig is the CEO and the founder of the National fintech crowdfunding association. Just what I've learned from him. Just like an arm's distance or just via a text or just via weekly phone calls of seeing where we are like. I've already grown so much as a person. And I'm like Oh my God. I'm so excited to see how much more I can grow. So, like the mentorship thing really just and like meeting amazing people like yourself from the podcast. That is so incredible because I'm just like every day I feel like I'm like growing so much more like I'm 10xing my growth because I'm talking to like OK cool like what are you doing this week. OK. This week we're on to talk about AI education. I'm like OK cool. What does that? I don't know. Find out my boom Crash Course. Yeah, it's awesome. It's the best it's like one of the best feeling the world.
Hussein Hallak: Yeah. Shout out to Craig. He's probably one of the hardest working people I've met. Oh my God. I agree. Relentless. Yeah. I thought I was hard working when I worked with him on some of the conferences, we're putting together like Vanfunding at a FSCon. This guy pushes it to a completely different level. I thought my God. Oh, you pushed me definitely by seeing his work ethic and what he's working on. I definitely enjoy working with him. Sometimes I hate it because he pushes way too much. And yeah. Good to push beyond the limit and kind of experience a new a different horizon. Of where you can go with what you're doing. And it's that kind of people that I've met through him are awesome.
Manseeb Khan: Yeah, I mean it's always like testing out your boundaries and like figuring out how far can you take it like what's your threshold. Like and Craig is one of those incredible people that will really test like Oh you think he can go this far. You can actually know this much further. So, switching gears could you just explain to the audience a little bit more of why AI education is important. Given all the things we're seeing in the media like all like hey like Skynet is going to take over everything like why education is such an important factor when it comes to A.I. and how do you see services and platforms like yourself helping people understand the AI conversation a little bit better.
Hussein Hallak: Well for us. AI was born out of the need of achieving the end, but we have in mind. So, the end we have in mind is an education that works for you. You're not locked into a system that you have to adjust to it. So, the biggest challenge right now that we see at least in the education space is that you're locked into a way of how the educators see that you need to learn about a topic which makes sense. They are the expert. They are the leader on the topic or thought leader and they know they have a certain way of doing it. However. Think to take into consideration the diversity and how people learn the different styles of people learning the different pace. It's really hard to locking people into a certain way and that's why online learning had a big problem which is learning and people committing to the courses is only around 10 percent or 10 percent of people get to complete the courses they sign up to. So, they find out they paid and then they only 10 percent completion 10 to 20 percent at best which is a massive problem. We need people to learn we need people to gain new skills. We need people to have the ability to execute their work, so we thought what the best way is. What is a better way of doing it? And we thought AI can help. And the way we're doing it is that helping AI adapt to people's habits to people ability to learn and to their pace. So, what we do is if you sign up to the courses that we're putting together our courses are curated so we believe there's a lot of content out there so engaging people and helping them to go out of their way instead of being locked into one person's way of explaining things. So, mentors that's what we believe their role is to kind of open up your eyes to the world and lead you to the best of everything. So, if you want to learn that they helped grow. Here are the best content articles, videos, books about growth. Here are the best articles growth articles, books, and videos on let's say how to manage your people and so on so forth. So, the mentorship course is about curation during the best that is out there. And it works according to your style. So, if you want to learn at a certain pace you kind of tell the system. This is the piece I want, and the system adapts to that. The system tracks and this is not broadly across the system, so we are trying to to be very clear on. We don't take your data and study it and kind of study all the data that's out there and kind of forced you into this is what the A.I. telling you that this is the best you could. No, the A.I. locked in your pattern and learning adapts to how you are learning. So, are you clicking on these articles, are you liking the content of this style not this style? So, it adapts to your way of learning and tried to suggest to you thing that matches your way of learning. So, learn you gives you that feedback and also taken into consideration what the mentor had set up so it's not taking from the whole internet because we think that doesn't really work. We just so it's a mentor guided A.I. driven. And to kind of adapt to how you learn and how you prefer the best and how you how you grow better. So that's how that's what we're building we're in the process. It's not an easy process which we have to be. We have a long way to go but they're an exciting place we see for this technology and for how it can make an impact in this sector which is education.
Manseeb Khan: Right. I mean I absolutely agree with you like there are so many different kinds of learning styles and just reading methods and like videos my work for some person. Blogs might work another person some people aren't even like podcasts like what we're doing right now. It's actually quite incredible that you guys are creating an A.I. that understands hey Manseeb actually learns this way. Hussein actually learns This way. Okay cool. Let's just tailor it. They are probably learning the exact same thing. They're probably very much interested of like hey how do I become a better leader. I don't become a better mentor how do I become a better Team member as well. Okay Manseeb likes audio, Hussein likes video.
Hussein Hallak: Yeah well what we have right now due to the resources and what A.I. opens up the way we see it simply is that the way we have been set up is that you prepare everything at the start, and you adapt, you iterate. As much as you're capable to with AI we see ability to constant iteration, constant evolution based on how humans evolved. So, we evolve our way of thought. We evolve our view of the world. We I mean hopefully we continue to learn hopefully fingers crossed. Yeah. Because some people are locked into a certain way of the world and that that's all we are I acknowledge that but a lot of people they want to grow up they want to achieve. You're kind of forced out of your comfort zone and you have to explore new things and as you continue to learn and you take steps forward you change and you grow and you learn new things and you might change how you learn and how you consume information and what kind of information do you kind of desire. So, having the power of AI an adaptive learning kind of adapt to your growth at the speed of your growth that is where we think there is power here. There's a big opportunity and that's what we're involved right now in exploring and testing because we are very big believers in testing and learning from what they can learn.
Manseeb Khan: I love it. Yeah, I love it. There's a there's one of my favorite Gary Vaynerchuk quotes is always like test and learn, test, and learn it's like you don't like this thing do something else. I love that. I'm glad that you guys are building something that can actually help. Just yeah just making education fun again.
Hussein Hallak: That's where we started. We studied with our interest in block chain right. I've spent a couple of years studying and learning more and what surprised me is how little people know and because people know little and because most of the information out there is kind of guided by technical knowledge written mainly for people who are interested in the space. It was harder and harder for people who are outside even people who are super smart to kind of get in and learn. And that drove them away and said well I'll wait until this thing becomes mainstream and because of the crypto aspect of it they hear all this news about the market up market down and the three is there is a convoluted the promise of block chain what can do and what it's doing right now. It's kind of I would say covered by all this cloud a lack of understanding, of false information or sometimes information that are contradicting. So, we thought that that's a great topic to start with because we believe in things like decentralized innovation is the way forward. We decentralize power. I mean we've seen the impact of decentralizing things. It can work for us for a while but it's about time that we kind of decentralized that so that we have less problems. We have more security, we have more contribution and people being able to participate from wherever they are in the world whatever they are in the let's say in the societies that they structure they don't participate and they can't and they can actually add value and they can matter and build together from wherever they are we need that. Such a state of the world that we live in right now.
Manseeb Khan: Yeah. Hundred percent. It's all it really. What are the core principles when it comes to block chain Just like all these amazing new technologies that are coming out especially in 2019 is that we're giving power back to the people? I mean I've mentioned this in the show before. I've had people come on the show they've also mentioned this. It's giving people the power back like your background of like coming from a place with oppression and just growing up and this kind of like cool like I'm very limited on what I can kind of do. And some people like we've mentioned like some people are. Sadly, they get beaten by that and they're kind of stuck the way they are. And they have a way out there's no options or what have you. But with this new wave of technology is new like the way that we're going to decentralize education and you can actually if you want, if you're interested in learning cryptocurrency these are resources out there that can teach you if you want to learn about mentorship, starting on business, how to file taxes, X,Y and Z whatever you want to learn it's out there because there's the Internet and the top of that. There's this new overarching technology that's going to make it that much more accessible and that much more tangible from you to actually like get out of whatever situation.
Hussein Hallak: Yeah absolutely. And it gives and it gives also rise. Every time we have a movement just like the block chain it’s kind of levels the playing field because for once all of the players that are already locking in the benefit of the Internet or so you're going to get it. You're going up against Amazon well to bad for you and Amazon owns all of the areas that they are they are in space. For example, Google. It's very very hard for entrepreneurs that are coming up right now because there were other being gobbled up by these big corporations hence that promise of new technology or new innovation is taken up by that entity and kind of disappeared that you wish if they don't want that they might take on the team and say hey you are smart people just focus on our thing and don't threaten our dominance in our space. And whereas now when you when you build communities especially when it has to do with crypto communities that they like bitcoin. It I threaten let's say PayPal for example just using that as an example. But let's say PayPal acquire Bitcoin. Bitcoin doesn't belong to anyone and things like that. The promise of that so that the community that helps Bitcoin grow is the community that maintains ownership and grows. And if you want to participate you can take part right now. Obviously the longer you wait the middle role you can play but you can continue. You can actually now become a developer of bitcoin if you want. You can participate in obviously because you're coming in late you have to prove yourself. You have to kind of like how it comes in society right. How we operate as people you're coming into a community you participate, you add value. You build up your personal brand slowly by contribution and that's for me closer to a meritocracy. Obviously, we're human beings. There is no perfect solution for life because that only happens with death. You can go into that kind of conversation but to the best of how human interaction and how we build communities and how we thrive together. This is the closest that I've seen so far to a community where it's all about your contribution and it's all about what you add as value and it doesn't matter where you come from, what's your name is because in those communities you're not even known if you want to. So, it all comes down to how much you add value if you add value and you play by the rules of that community. You're welcome. You're celebrated through your work and you have to continue to do that work. So, it's the closest I've seen to meritocracy ever and so on and so forth. If you don't like that community, you can build your own community or participate in another community. Very much about choice very much about what you contribute very much about or not about who you are where you come from and what your background is about what you can do right now for the media and I think that promise if it perpetuated across different industries different sectors can level the playing field for everyone and makes it really about what value do you add rather than what you say and who you are and what your background is and how much money you have. All of these things become irrelevant and I think that that opens up the door for you and upcoming people to. It's really a marketplace of ideas and a marketplace of actual value.
Manseeb Khan: Yeah it really is like it's the amazing part is that no good deed goes unchecked. Really like if you are bringing value to the community that you're in you are helping people you're answering questions like you just generally being a good person and helping and being of value, being of service to other people in your community. You're going to get rewarded for that. So, we did briefly touch on decentralized innovation right. What does the decentral innovation look like to you? And what are you most excited about. Like what is something that like oh when that happens, I can't wait till we get to that level.
Hussein Hallak: Well I'm excited about the ability to definitely public decentralized innovation and just like the Internet a public accessible to everyone network and that people participate without limitation. That is what I'm super excited about. I'm super excited about being able to solve real problems. That means I mean one of them is the ability to payment. A lot of people from our world that we live in right now the Western world. When I teach about a block chain. When I teach about bitcoin, I explained that that they here you don't see the value of that because you have multiple options. But even if you go to a city like Dubai who's known the fact of the Western world are being very modern and only a few years ago entrepreneurs could not build a company that accepts payment. Because the it's very expensive to set up a merchant account with a bank it's very limiting and it's highly expensive. So, you cannot accept payment. So, imagine if you're building a startup that is online and you can't accept payment you can do it. You have so entrepreneurs really friends of mine who were originally from Canada had to travel back to have access to Stripe for example to be able to build their company. And that becomes very limiting. He was Canadian By and by origin so he could travel back but a lot of entrepreneurs there don't have any choice which actually limit the ability to build a great idea. And that's why decentralization in my world is connected definitely to innovation. It's a new way of doing things that enable all these ideas to pop up to be able to accept payment from anywhere in the world. And now truly you can build a startup that impact anywhere in the world even if you're in a place where you don't have accessibility to those resources that we have here. So, I think that's the biggest promise the biggest promise is to give access. I think the word access was probably the most dominant and the most important. If you give access people have the ability to innovate. People have the ability to add and contribute and up to up to now we had all kind of innovation happening at centers that circle cities where accessibility were resources. And now with the promise of decentralized innovation you can have really people who are sitting in a rural town whether it's the US and the state or here locally in the prairies in a very rural town where you have just internet access. you can now build a business and have access and contribute to someone who is living in Indonesia out of all places. They're just top of my head. You can be in a war-stricken country and as long as you have the access and you're able to be safe you can contribute, and you can change your situation. We can contribute with ideas because there's a lot of brilliant amazing people around the world that have the ability to contribute to. Have something that we need in the world maybe can contribute to solution in the other. So that's the first let's say promise access. The second promise is collaboration, true collaboration. Right now, collaboration only happens say on a big scale when certain people come together and are committed to a goal that they even if the goal that doesn't pay the money like Wikipedia. Most likely for a goal that gives them money and there they can take care of like a company which is a corporation like Facebook for example. But then you have a singular goal but would decentralize innovation. People can now contribute to multiple things and add value to multiple projects that actually solve real problems like the problem of climate change for example like the problem of let's say war or having people for example for humanitarian crisis. So, things like that people can participate and can participate in solving it and can be the solution. While it may not be possible a certain area or by a singular body like a corporation it can be possible by many different people participating from around the world and creating a community that connected and working together. That way. So, I think active collaboration and the final word innovation is bringing something or creating something together that. Can never or could never be perceived before or thought is possible that adds value. And I think that is where innovation happens. So, these are these three promises that I think is central organization can bring. And that's why we're super excited about it.
Manseeb Khan: Access I love that I like that that makes so much sense because you have. All of these old gatekeepers that are still sadly in power and you're having decentralized innovation you're giving access to all these people that you've mentioned. But don't have access to information, don't have the tools to actually build a business because hey the next Facebook could be built out of Like Mauritius for all we know right. The next biggest thing could be built out of who knows where. So, what are some of your core principles you have when it comes to building new ventures?
Hussein Hallak: Well I thank you very much for the question I think for me. Building a company is very similar to climbing a mountain and in particular I related to climbing Mount Everest. I haven't done it. I may do it even though I'm lazy. I kind of related to climb Mount Everest. And if you think about it climbing Mount Everest doesn't make any human sense at all. Like why you would climb that mountain.
Manseeb Khan: There's no sense. Why would you do that so crazy.
Hussein Hallak: It's really a desire not only that if you don't have it all starts with passion. A passion for something a thought or an idea. So those people who end up climbing the mountain are driven by a passion to experience what it's like to be at the summit. Now whatever the source of that passion. Nobody cares but it's your passion you know it. So, most entrepreneurs unless you're extremely passionate about the end result that you're after never ever go after something because the reason things are climbing a mountain is freaking hard. It's the hardest thing you can ever do. And even if you're in the right fit body to do that it's still as hard neared the summit. So even if you get an easy start that you have the money you have the time you have the energy it gets hard at the top. There is something in the climb over Everest called the Death Zone which is above 26000 feet and above that it is closer to the summit and there because of the thin air no matter how fit you are, going to suffer it's going to be super slow it's going to take you forever to get there and fit or not you're going to suffer so unless you have a passion for that you're not going to go through the suffering. So, number one I tell them first of all you need a lot of passion tons of it because it's going to be hard. And so that's the other thing that they need to know what they're getting themselves into. Most people think my idea is going to be the best. And so, I'm going to have a joy ride. It's going to be I'm going to be difficult. There's going to be smooth sailing. I have the money, I have the time, I have the skill set. It's going to be hard regardless of what you have. So, knowing that it's hard having a passion for starting point. The second thing is you need to have a central guiding idea which is adding value to customers. Bottom line if you want to win you have to add value to customers and you have to add it in a way that no other competitor and no one in the market can ever do. And unless you do that there's absolutely zero chance that you're going to succeed at a big scale. You may succeed to build like a small business but unless you add immense value. So, at the center you have to focus on customers, and you can't. It sounds like a very stupid idea of course people will sign up to that. And of course, they say of course what else. Why are some building. But when you started doing it. Most people get busy focused on how great the product is, adding more features you know ,building the elements and building a business and forget about why they did it in the first place which is to add value to customers and if they have that that's the principle guiding every step. They're more likely to succeed. And underneath that comes a lot of things like you need a lot of customers to build a great big business. So, you need a big size market. You need to talk to customers to know what they want. And that goes into interviewing customers and staying connected. And you need to test your product according to what customers want. Not because you think these features and benefits are great. Who cares what you think it's what the customers think? So again, there is the last thing I think is being humble as an entrepreneur. I don't mean humble as not being flamboyant and not being like you know talking the big game or humble meaning that's your opinion and what you think doesn't matter it's what the market thinks and what customers want and what customers need. And as long as you're humble and it's not about you it's about them and about the value that you add you're likely to succeed. So, passion Customers and being humble. Basically yeah. These are these are core principles that If you follow, you're likely to build a successful business. That's the last thing that I teach entrepreneurs. You can have all of that. And you may still fail. It's there is an element of luck and an element of timing of when you push idea there. So, there is no guarantee. And unless you're entering like you can climb Mount Everest and you may never reach. You have to climb it again. And you have to do it again. And that's why you have to have of passion. So, it's not about just the success it's about playing the game.
Manseeb Khan: Yeah. No. I love it. So, to wrap this up I'm going to end it off with two questions. So, having trained and mentored all these entrepreneurs what your tried and true advice to these entrepreneurs has been and how do these entrepreneurs find mentors? like how we find amazing people like you and how do we find like actual mentors that can actually help us and make us as incredible as people think we are.
Hussein Hallak: Thank you for that. Yeah. So, I think core advice is get started now. And whatever you do get shit done in the sense that stop talking about it. Stop thinking about it and do something doing something. It's like kind of ready fire aim or fire. First and then get ready and then aim and then fire again. The key thing here is when you do something you have something that exists in the world. Even if you're doing is you creating a plan and writing it not in your head. But writing it because now that it exists you can evaluate, it you can analyze it, you can learn from it and you can that guide you to the next action. So, whatever you do move from one action to the other. Guided by testing, guided by data, guided by examination which is what the main start up promise is that have your ideas do something. Build an MVP. Do something whatever it is. Then examine the data so build measure and then learn then from the data and then make informed action. So, this is my always advice to the entrepreneurs whoever sits with me. The fundamental line is what have you done. What have you learned from it? What is the next thing you're going to do? And if you engage in asking yourself those questions. This one game will keep you going. Now that you're going. Now that you've got going. To be second piece of advice is always taking these 10000 stages view every once in a while. So, take a step to step back and say I might head in the right direction. Is this getting me to my vision or what I want to create? Is this heading in a direction that serves the business that actually generates value? Every once in a while, engage in that and step out of your cocoon and out of the daily grind of action to make sure you're heading in the right direction. So, these are two pieces of advice that saved my life, save me a lot of time, and save the money my entrepreneurs that I work with all the time and kind of simplify the process. Obviously, the process of doing is intense. It's complex depending what you're building depending on the solutions you're building but these kind of simple advices and simple practices help people to stay on track and keep going. And don't get stopped by taking time to think and not do anything. Now in regards to finding a great mentor you have to first find out who a mentor and so I mean there is not a coach, a mentor is not an adviser and I've actually written on that so they can actually find my LinkedIn and find a little bit I've written about what makes a good mentor a good mentor. But the key thing is a mentor someone who's willing. First of all, they are skilled at what you want to mentor you on. So, they have to have the skill. You can go to someone who is mentor you for example on growth. Like I would suck in mentoring someone on how growth companies as they move from 5 million-dollar companies to 100 million-dollar companies. I've never done it. I have I don't have the skill set to do that. So, I mean I'm a bad mentor for that so. So even though they like me a lot of people pick mentors that they like and look up to which is fine but make sure they have the skillset on what you want them to mentor you on. So that's a key element because a mentor is someone who gives you access in a particular area defined niche area. They have mentors on strategy. You don't have a mentor. Overall you have a mentor on strategy mentor, on growth mentoring for example how you hire. So, pick the mentor that can give you the skill set. The other thing as a mentor is someone who is willing to do it for free. A mentor is not someone you pay if you pay them. They're either a consultant or a coach. A mentor or someone but you don't pay for that. There’re no paid mentors. That's at least mind where I come from. You pay a coach, you pay somebody else but a mentor or someone and they are committed to your success. The reason why they're into it be because they are committed to your success. They would be happy if you exceed them and outgrow them and achieve better results than they ever even achieve. So, they're happy to do that. So, they need to have that desire so that they don't hold you back. Some people would actually not want to see other people succeed more than they do, and they are successful they've achieved success in the area of their skilled at. And finally, I would say it's someone that you connect with that you like. I don't believe in working with people that you don't like somebody you can’t be mentored by somebody you don't like. So even if they are a big name in the place if you don't like them if you don't connect with them, you're not going to learn from them. So, I believe life is too short to work with people you don't like. So, I highly recommend that you work with people that you like people who are committed to your success. People who want to see you have the skill set and have achieved success in that area. Think that would constitute a great mentor. There are tons of brilliant entrepreneurs especially we're lucky to be here in Canada. Ton of brilliant entrepreneurs, the biggest entrepreneur in your in your sector. They would be thrilled if you reach out to them and ask them for 30 minutes of their time. And final note. A mentor is not someone who is committed to you for life because they may be maybe all he needs is that half hour coffee, but they guide you to something and then you go on to work and that's all you needed. So, they give you kind of an access or a they open a door for you or open your eyes on something and maybe some mentors you need them for longer so don't pick on someone that's complimentary for life because they will. They don't probably have the time that they are successful. So, look at them and ask them for advice and ask them for more mentorship. Just ask them what you want. And they would want to help you we're lucky to be here.
Manseeb Khan: That's true. I mean speaking of which I got to have some are calling for some refunds I don't know. I can't pay mentors. Hussein thank you so much for sitting down with me today. I mean this has been an absolute pleasure. I think open up a lot of people's eyes when it comes to mentorship and just when it comes to leading and mentoring and essentially why it's so important. So again, thank you so much for your time. This was a pleasure I can't wait to have you back.
Hussein Hallak: Thank you for having me. I had a blast. So great. Keep up the great work.
Manseeb Khan: Oh, I will. I will meet amazing people like you. I mean cheering me on I mean of course. And on the behalf of the NCFA Canada's leading fintech and crowdfunding association I wish you amazing Fintech Friday and weekend.
Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.
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Ep20-Jan 11: Bitcoin Backed Loans and 2x Credit – Putting Your Crypto to Work
NCFA Canada | Jan 11, 2019
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Ep20-Jan 11: Bitcoin Backed Loans and 2x Credit - Putting Your Crypto to Work
About this episode: To kick off Season 2, NCFA Fintech Fridays show host Manseeb Khan sits down with the CSO of Ledn Inc.. Mauricio Di Bartolomeo. They chatted about what crypto backed loans are, going global and saving the world. Enjoy!
- Experiencing the dismantling of the Venezuelan economy; a broken financial system
- The use case and value of collateralizing digital assets
- Libertarian aspects of bitcoin and how it is benefiting the people outside of North America or in tyrannical regimes
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: MAURICIO DI BARTOLOMEO, Co-Founder and CSO (Ledn Inc. | LinkedIn | mauricio@ledn.io)
Bio: Mauricio Di Bartolomeo is the Co-Founder & Chief Strategy Officer of Ledn Inc., a financial services company built for Bitcoin & digital assets. The company underwrote Canada's first-ever Bitcoin-backed loan in 2018 and has since been lending to Bitcoin holders across Canada. Mauricio has been involved in Bitcoin since 2014 - when in Venezuela he learned that friends were using it earn an income by mining it & protecting their wealth by converting it into a censorship-resistance currency. Now residing in Canada, he has been working on Bitcoin full-time since then, developing technology to make it easier to hold and use.
Mauricio understands the use-case for crypto-currencies in authoritarian regimes and the life-changing liberating effect that it can provide to its users. He is also well-versed in the limitations of the current solutions and what can be done to improve usage/adoption. Ledn, which has grown to a team of 10+ professionals, is tackling these issues by making Bitcoin easier to hold with products such as fiat-loans, cryptocurrency savings accounts and credit cards.
Mauricio is also an active member of the Canadian Blockchain developer community with strong ties to professional working groups, contributing research and opinion pieces to active University PhD teams. He holds MBA and HBA degrees from the Richard Ivey School of Business.
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more podcasts here: Season 1 | Season 2
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Hey everybody Manseeb Khan here and you are tuning into Fintech Fridays brought to you by the NCFA Canada's leading fintech and crowdfunding association. Hey you know what. Welcome back. You're turning the season two of the podcast. I highly recommend listening to last year's season one. We got 19 amazing episodes, so I hope you're having a really great New Year. Hope your resolutions are doing good. I'm killing mine so far. I don't mean to humble brag, but you know I'm just saying I'm just saying it's all OK. So today to kick off season 2 of the podcast I've got the CEO of Ledn Mauricio.
Mauricio Di Bartolomeo: Yes.
Manseeb Khan: Thanks so much for sitting down with me today. This has been a pleasure. You actually were kind enough to actually lets us record out of your office in beautiful downtown Toronto. So, this means this means the world. Thanks so much.
Mauricio Di Bartolomeo: No problem. Thank you, guys, so much for having us. Just a small correction. The CEO officially is my co-founder Adam. So, I call myself president and CSO, but it works because you know we're basically equally involved. So, it's been it's been a real great.
Manseeb Khan: Okay. Hey no, problem so the CSO.
Mauricio Di Bartolomeo: Okay actually. But no, I really appreciate you guys having us on love the work that you guys are doing on the podcast. And you know shining the light on the Toronto startups and getting the word out. So, I look forward to this episode. We've been excited to record it.
Manseeb Khan: Yeah. Hey, I'm super excited to just jump right in. So, for a brief second as the CSO of Ledn. Could you just give us a little bit more of essentially who you are and a little bit more of what the company is and does?
Mauricio Di Bartolomeo: Yeah. So, I'll tell you a little bit about myself first because it does tie up to a tie into how or why we started Ledn. So, I am originally from a small town called Barquisimeto. It's about four hours southeast of Caracas in Venezuela and that's where I grew up. You know it's a really great experience. You have an upbringing in Venezuela and right around high school time when I was approaching high school, a new president entered called Hugo Chavez. And at the time people that kind of you know had a suspicion of what this could lead to were already thinking or setting their sights outside of the country and thinking of potentially moving out. So, I was encouraged by my family and I really wanted to go out and study abroad myself, so I came to Canada in my university here. I went to the Richard Ivey Business School at Weston which is where I met Adam and we stayed in touch back and forth after a university I worked in Canada for a few years.
Then I went back to Venezuela for a few years to work on my father and a couple of projects. And during that time, you know with Chavez in power. I could basically witness this entire dismantling of the economy. And it wasn't until Chavez passed away when oil started dropping in price where the entire system just started collapsing on its own. And so, you know banking basically became useless. It was very difficult to transact or do anything. People were not wanting to hold bolivar converting out of them any way they could for flour, sugar, dollars. And so, once the system the financial system breaks, people started getting trapped in Venezuela holding dollars is illegal. So even if you wanted to emigrate and you couldn't afford a ticket you could be riding your bus down to Colombia and you get pulled over National Guard takes away all your dollars and you get to Colombia and you have nothing.
And so around 2015 as this was happening kind of simultaneously, I discovered Bitcoin through my younger brother actually who was using it to mine. And the second I basically started peeling the layers and I'm like OK well this isn't just a computer game. This is actually a censorship resistant currency.
And there's a tremendous potential to build an entire financial system around this new asset and that's when I started getting really excited about what we could build on it. And then you know talking to Adam because obviously we couldn't really fund a company there or grow something out of Venezuela. We knew the problem. We knew the use case, but we needed to basically have it have a world class platform to emerge this company out of. And so, we both have really strong networks in Toronto and we knew you know the workings of the financial system well. And so, we said OK let's try to start this with the basic most useful product which is Bitcoin backed loans essentially.
Nobody at the time was treating bitcoin as an asset worthy of being posted as collateral. And so, we saw it as a mistake because there was a sufficiently liquid market for bitcoin despite the volatility really the bigger risk is really just realizing your counterparty in the trade. So, we created a call it a setup or a system whereby we could ensure investors that they weren't going to lose money. And that's when we raise the seed round on the on the premise that we were going to start with the first product.
Bitcoin backed loans and so Ledn is a play on Hodl which is that the first idea is to make Holding bitcoin easier right. We know my investors, businesses, everybody inevitably faces the point in time where they might get into a liquidity need and they have to face that decision. Do I sell my bitcoin, or do I hold it? And you know over the long run that has proven to be a bad decision to sell it and rebuy depending rightly. you can try to time the market but all that to be said for all that being said you know we want to help people not be put in their corner. if you need liquidity you can post your bitcoin as collateral use the liquidity you need pay back and get your bitcoin back. No transaction fees.
Manseeb Khan: That's incredible. I'm glad a service out there is actually there and that's going to be helping. Just give crypto if not bitcoin but any other like alternative coins later in the future just a little bit more credibility and viability in the actual market. Hopefully right. So just before the audience could you just explain a little bit more on bitcoin back and crypto back loans just like. Like could I pay my mortgage off this thing? Could I pay my car? could you give us like a more of a real-life example of somebody using bitcoin backed or a crypto backed loan.
Mauricio Di Bartolomeo: Well yeah sure. So, I'll give you a few use cases and some of the newer. Or call it more creative use cases we're very excited about the first use case that I would say is you know you're a Bitcoin investor. You've held Bitcoin from you know call it earlier on. So, you're sitting on a potential capital tax gain. So, let's say you bought bitcoin when it was a thousand dollars right. And it's sitting today. I'd call it five and change. And you know you rode it all the way up and rode it all the way down. You didn't sell it but you're still sitting on a couple of gain right. You have a credit card bill that you need to pay, or you have rent that you need to pay, or you have X expenses you need to pay. And you know you've held bitcoin for so long. You have a very positive long-term view on it. Do you really want to sell it five thousand dollars? So, use case one is essential. OK. I'll put my two bitcoins for collateral. I'd take a fine doesn't all alone that I need because I can borrow 50 percent of the value of the bitcoin and you pay down the card or whatever it is, and you need to pay down. And if your expectation is a bitcoin was going to have a good year and potentially have a call its 20 percent rally. Well then when that rally does happen you can choose to pay down your loan and you can also choose to put on your loan with the collateral itself that you can choose. We can convert the collateral for you to pay it down. So essentially the idea is here that you could be paying down the loan with potentially your profits right. If you have if you have a long enough view its things play out the way you think. So, we have a long-term positive view on the price of bitcoin. So, we believe that we are helping our clients by not making them sell it.
Manseeb Khan: So, this is a great way for crypto to work for you. This is like investing 101 make your money work for you. But in this case making crypto work for you is right.
Mauricio Di Bartolomeo: Yeah. In essence I mean you have to be responsible with leverage. You don't want to be you know entering into things that perhaps you're going to throw away your financial plan. But that being said I think leverage is an amazing tool in that it allows you when you see a good enough opportunity to take advantage of it without selling, sacrificing the asset itself. Right. Just the same reason people get into a cash need they don't run and sell their home. Right they'll try to get a home equity line of credit. So, it's a similar idea You know you're holding this great long-term asset and you don't want to sacrifice it to meet a short-term need. Mm hmm.
Manseeb Khan: So, what some of the challenges are facing getting into an Ethereum and I guess like dogecoin for I guess for lack of a better example.
Mauricio Di Bartolomeo: The thought process that we go that we take an asset through to decide whether or not we're going to work with it. As far as collateral it really comes down to risk management right. There are people had concerns at the very early days. People would say Oh what about the price of bitcoin is so volatile. Oh, what about you know how you handle that really fast drops in price right. And so, we can mitigate those by a setting up partnerships with the exchanges that work in our jurisdiction. whose liquidity is having actually been improving, the Canadian exchange liquidity has actually been getting deeper.
As far as far as a daily trading volume so that's one way. Like we have partnerships and we monitor the order books of all our exchanges just to make sure that we can realize the trades and what that would look like as far as slippage. So, the real crux of what we're trying to solve is just to ensure that a we're going to be able to sell the bitcoin if we need to when we need to and that the counterparty that is buying that bitcoin is you know has a low risk of default.
And so, with bitcoin we feel very, very confident that we can process those two things because it is the deepest liquidity pool it is the call it you know safe haven asset within the digital assets space. Bitcoin was the only one that we were comfortable working with at the beginning. Now obviously things have changed in the past you know call it seven months in crypto markets. There's been quite a bit of a journey, but I think as the dust is beginning to settle there are risks to us as a company to start considering an asset like an Ethereum in its risk profile has improved.
In our view just because it held through a really substantial drop, and it is still very liquid. It's just trades really well. Toronto in particular in Canada has call it an above average participation rate. And I guess fanbase as far as in Ethereum because it is a Toronto based project. So, I do think that is something important and something that made a big difference. So, the challenge really is to ensure that we would be able to process the trade and to that we are confident and I guess sufficiently confident with the capacity of the counterparty realizing to trade. So that's something that we are actively working into and do and know we should expect hopefully something out of us for Ethereum soon.
Manseeb Khan: I can't wait for you guys to start issuing out Ethereum back loans and just a slowly getting into like more like alternative market because it's just again proof of concept of like hey like this is this works you can pay off your credit card, mortgage, house or what have you. With these kinds of loans if you're just sitting on it right making it up to work for you more or. What are the challenges going internationally? Because you definitely have an interest of getting to Venezuela as soon as possible and then slowly start branching out to other countries.
Mauricio Di Bartolomeo: Yeah that's a great question really. Most jurisdictions are welcoming of liquidity right. If you are a company and you are bringing in funds that are going to be lent out to a community and that community is going to put that money to work. To create and expand their business, to build a bigger home, to do something else that actually spurs economic activity. So, the concern most jurisdictions have when you're a company that's coming in to provide liquidity is around consumer protection right. They just want to make sure that you're not coming in and hosing there their clients are exploiting the rules or the niceness of the receiving jurisdiction.
So, one of the biggest reasons and one of the things we love very much about being a Canadian company is that as a Canadian company we are held to some of the highest standards in the world as far as banking regulations go. That was by design. So, we knew that it was going to be a long process and we know that was really what we drove headfirst into because we knew that once we could get things done and been fully compliant and everything on the exact right side of the law in Canada.
Then that A we would have an easier time doing this in a different jurisdiction and B we would be better received by these jurisdictions because we are coming from a much more credible country. Exactly. It's a place that acts I guess rightfully or correctly and so that that is a lot. That you know that helps when people are getting the story. Where is this company? Who are these people? where are they? What's the story?
So really the main concern when you're entering a new country is the consumer protection in their jurisdictions and again those are more geared towards protecting them from you know very aggressive lenders. There's been some news around about payday lending and what that can do to a community. So that's really the intent of those rules. We actually have the entirely opposite. Call it goal than payday lenders. Our goal is to bring institutional price that North American rates to places that never had access to this debt to begin with. And the reason was they never had an asset to collateralized yeah that nobody up here felt comfortable enough lending against.
But now there's this internationally liquid asset and it's this you might Venezuelan bitcoin is the same as your Canadian Bitcoin. So why do I get a different interest rate? So, there's this big opportunity right now to standardize. Call it the collateral that's getting posted. Right. And benefit from rates that other countries can issue. You couldn't get in your broken jurisdiction.
Manseeb Khan: That's incredible that's you. You don't make a really good point. Why. Like my Canadian Bitcoin or Venezuela Bitcoin is the exact same thing. So, kind of makes sense that like you're taking loans out against that. So, you did briefly touch on credit. Right. So, when you think of loans, I guess to stick with the banking terms that we've kept for continuity sake. How does the digitization of savings and credit look like to you guys?
Mauricio Di Bartolomeo: But that is there is a really great question. So, you know the natural thought process when you're creating a financial services company is you know how we help people reach the financial goals better. What is in our what is kind of like the suite of products that we could offer that you know holders or people or investors that make their lives easier. So, if you look, I'd call it a traditional banking suite you know.
Yes, you have credit, you have loans that you can take out to build a home you know you could take out a loan to buy a house you have credit cards. So, like more flexible credit products savings accounts which is somewhere you can put your money to just park it when you were having direct use for it and yield on it. So those would be you know obviously there's other things there's an investment and more. Call it sophisticated tools but the call it plain vanilla tools would be your long-term credit, your asset backed credit, your recurring short-term credit like your credit card unsecured and then you have your savings products.
Right. So, would Ledn our first product was Bitcoin back loans. So, we want to be able to let people that hold bitcoin and need dollars get them without having to sell it. So that was a natural first product for us to offer then also we had been in a situation many times that I had run mining businesses in the past and other bitcoin businesses where we constantly face this whole you have to sell it immediately and then you want to buy it again. And that just created a bad type of terrible experience customer buying and again at a higher price. And so, as this was happening you became very real that this was needed.
So, our first product was hey let's get people liquidity without making them sacrifice for bitcoin. That was a very we got a great reception and people you know loved the product today that their very next product is we said OK well same way you go to a mortgage to get a bank to get pre-approved for a mortgage. Yeah before you go buy a home. Right. You know if you are looking to buy a home cash then you're looking at you know and you're sitting on a hundred thousand dollars and then you say OK well I can only afford a home that's a hundred thousand dollars right. If you or someone else has the expectation that the house value is stable enough and is going to go up in price they may come in and say hey why don't I get you 50.
So that way you can, or I get you another hundred, so you can get a two hundred thousand home right. And that's what the bank does and they pre-approved for a mortgage. So, you don't go buy a home with your cash balance. You go to the bank you say here's what I can get for down deposit. What is the most you can get me. And then you use that total amount to go buy the home of your dreams. Right.
So, the next product that we're working on is we want to basically instead of giving you the loan right after you own the bitcoin, we want to basically provide credit for you to buy the bitcoin. So, if you are a person that has one hundred dollars and you want to make a bitcoin investment, but you feel very bullish and where the prices today run you wish you could invest more. You can come to Ledn and then will say hey guess what. You will have you had a hundred dollars will approve you an additional hundred so that you can buy a two-hundred-dollar position and you take a loan with us for that additional hundred. So, you lock up your two hundred dollars’ worth of bitcoin in our vault and when it goes up or down and when you want to unwind your position you can basically close it down and get your Bitcoin back.
So, this idea of buy 2X credit is something that we're very excited to do basically and we're actively exploring and working on and so it is something that we feel is going to add value to Bitcoin investors and then the additional piece on that is the last piece of that is OK. Well now you have your bitcoin back loans. Now you have your buy 2x credit. I have my bitcoin. I want to put it somewhere where it can generate a return for me. Where do I go? Right.
So, we do realize there is a big need in the market for that right. It takes infrastructure to realize a return on the deposit at a reasonable level of risk because you have to put that underlying asset to work. So that's the mechanics. And that's another process that we're working through right now. But we will get there because we understand that this is very needed product. And so that is really the call it three-pronged approach of how you digitize. If you would. Traditional banking services today. And then you bring them to you know the digital asset realm that we're working on now.
Manseeb Khan: So, speaking of savings and your three-pronged approach of digitizing assets and credit and what have you. I can definitely see you guys partnering up with either a challenger bank or even maybe even morphing into a challenger bank. Is that being that something that we can expect from Ledn that you guys would be possibly either going with the challenger bank or considering becoming one?
Mauricio Di Bartolomeo: That's a very good question. Banking relationships are very important for our business. Being a financial services company, we have very good relationships with banks in Canada. That's largely a part of our AML and KYC processes. We are fully compliant. We have a person in charge of it and the team has been from its genesis built on the idea that we had to be fully compliant from the beginning.
So as far as our banking relationships today they have been really great. You know we've been very pleased with how everybody's treated us so far is it in our roadmap right now to become or morph into a challenger bank. I don't think it's in the immediate goals, but I won't discard that as potentially something that we will look into in the future as we grow into more of a bigger financial services company and more and more clients start demanding different types of products and services.
So, to the extent that there will be a benefit or value to the client in merging the two experiences then yes that would definitely something that we can consider. Right now our real focus is to create a full suite of services around these digital assets because I think the really big impact that crypto and Bitcoin are having is just a liberating impact around the tyrannical and authoritarian regimes around the world that are essentially you know their banking system is hijacked from them and they can't save, they can't borrow. They can't even buy a censorship resistant or they can't buy dollars.
Bitcoin is becoming more and more an option that all of these people. There's over four billion people living and authoritarian regimes in the world today. And so, the you know more so than the dollar signs. I think the most what excites me the most about these services and this technology is that it materially changes the life of people, of smart people in these countries to be able to earn a bounty reward in bitcoin and have no one come and take it from you and save so you can buy a ticket to go to New York one day or do something else. Like it actually you become a member of the world economy right where before you were sequestered from it by your local currency.
So, I do think that this has the potential to snowball into this massive opportunity for four billion people to now have access to banking service traditional bank services. It's a long road to get there. And education is a very, very big piece of that because from Venezuela I can say that although we have a large number of people that are in this situation and sometimes a lot some of them have a phone but sometimes having a phone and being in the situation is not enough right. Yeah. It takes a lot. It takes education it takes time to let people know that this is the right way.
The volatility in pricing hasn't helped. I'll say that you know very upfront because you talk to people in Venezuela about bitcoin and yes sure it's better of then bolivar. A lot of them are still happy that they have it. Other believers would they prefer that it had stayed steady and maybe not going up to 20 and coming down everyone. Absolutely. So, there is a bit of a you know learning curve that people have to go through. They have to understand that you know it's also in its early stages so it's not going to be everything we want it to be. Course at once. Yeah. But yeah. Just to tie back to you know I think the biggest impact is. I think where this can have the biggest impact is including or incorporating new members that are perhaps not in Canada rather than creating a bigger bank or a better experience for Canadian clients which is something that's definitely, we want to do. But I think our big focus right now is to build this product suite around digital assets and make them available to people that are not available to it today.
Manseeb Khan: Of course. So, to help later better I'd like the world economy like you've mentioned before. Right. So, I'm going to throw this to you. OK. Aside from saving the world. what else are you very much excited about in the crypto, FinTech space in 2019.
Mauricio Di Bartolomeo: Crypto fintech in 2019. Let's see. I think there's some really good work being done by the Human Rights Foundation and they're really shining the light on the libertarian aspects of bitcoin and how this is benefiting the people outside of North America or in tyrannical regimes. I. Am excited for some of the noise to get out of the industry. I'm excited to see the good projects find their footing and start making what they've all been making great progress. But the price has been a temper that hasn't really.
People haven't really seen past the price moves and the kind of peel layers and see what companies like us are doing behind the scenes getting ready for this cycle to turn again. Mm hmm. So, I'm just excited to see the cycle turn right. I do feel you know again it's not financial advice and by no means is this what I what I think is going to happen whatever. I have a feeling that 2019 is going to be a year where we finish this bottoming process and we start you know when we turn the corner to do it. Call it a new lead wave. We focus a wave of price moves and I think I don't I don't expect them to be astronomical in fact I almost don't want them to be. I would like them to be slow and steady but so long as the corner has been turned and we stop dropping people's mindset start turning with it. And so that's going to be exciting just to see people wake up. Yeah. Let's see what happens. Well it wasn't a fad it was a hype Yeah.
Mauricio Di Bartolomeo: Yeah. So that got them excited about that idea about the resurgence. Call it.
Manseeb Khan: I'm excited to see that on 2019 that's bitcoin and just crypto in general. I'm going to just start to I guess osmosis out of the actual like bubble and then start going it's a little bit more of having a real-life scenario instead of just to the niche thousand that really know about it. Right. Right. And having like I mean again like being able to take out a loan against the crypto that I currently have in my wallet that I'm not using. Right. That could pay off my credit card is fantastic. I can write off my house. That's amazing. Right. Right. And then sooner or later like some way down the line I can actually buy a house with the assets I bought 15 20 years ago. Right. I'm super excited for what you guys are going to do and I'm just excited. So just the journey ahead for you guys. So, Mauricio the best way to contact you. Do we email you do we Snapchat you do I tweet you like we'll be the best way to you to get contact with you and the CEO Adam?
Mauricio Di Bartolomeo: Yeah. I mean you can reach us and we're very active on Twitter. My Twitter handle is cryptonomista. Oh, so you can you can Google that or not you can search it. You can search my name on Google. Mauricio Ledn in you probably hit what I won't bother taking you through my spelling of my last name. So, if you can if you just want to google Ledn Inc or Mauricio Ledn Inc. Ledn.io is our official Web site so you can always contact us through there. I'm actually on the chat on the Web site so you can go in and just literally write me right there . That's awesome. So yeah. The Web site is a great way Twitter @hodlwithLedn is our Twitter handle and you can always e-mail us at loans@ledn.io. So yeah that's you know I'd love to talk to anybody that has any questions or even the insights or comments. I'm very open to that.
Manseeb Khan: Yeah. Hey, I can't I can't wait with the feedback from this episode. so, on behalf of the NCFA Canada's leading fintech and crowdfunding association. I wish you an amazing Fintech Friday and weekend.
Outro : you've been listening to fintech Fridays brought to you by NCFA and partners. Tune in weekly for the latest fintech Friday podcast by subscribing to this channel. The National crowdfunding and FinTech Association of Canada is a non-profit actively engaged with social and investment fintech sectors around the globe and provide education research industry stewardship services and networking opportunities to thousands of members and subscribers. For more information please visit and see if a Canada dot org. Oh yea.
End of Podcast
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September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
FINTECH FRIDAYS Podcast: Season 2
JOIN US ON A STORYTELLING JOURNEY: SEASON 2
Welcome to Season 2 of NCFA Canada's Fintech Fridays podcast, your go-to platform for insights into the evolving world of fintech and funding. This season, we take you on a storytelling journey, exploring the intricacies of Bitcoin, the power of collaboration, the impact of decentralized innovation, and much more. Whether you're a fintech enthusiast, an industry professional, or someone curious about the future of finance, Season 2 of Fintech Fridays offers a wealth of knowledge and insights. Streaming on demand now. Interested in participating? Drop us a line: info@ncfacanada.org
EP40: Why Bitcoin Exists and Education for the Masses
GUEST: AUSTIN HUBBELL, Founder and CEO, Consilium Crypto (Linkedin)
BIO: Austin is the CEO and co-founder of Consilium Crypto (https://consiliumcrypto.ai/), a big data company developing institutional grade investment analytics and liquidity access tools for the digital asset markets, helping funds find alpha and place large orders efficiently in times of thin liquidity. With a background in software development and machine learning, as well as previous tech startup experience, Austin brings a skillset balanced between the technology and business worlds. He previously worked with a distributed team based in L.A./San Francisco to build predictive models for crime hotspotting in major US cities, before transferring to the FinTech world to build machine learning based trading systems for currency markets.
Enjoy! (Full TRANSCRIPT)
Ep20-Jan 11: Bitcoin Backed Loans and 2x Credit - Putting Your Crypto to Work
About this episode: To kick off Season 2, NCFA Fintech Fridays show host Manseeb Khan sits down with the CSO of Ledn Inc.. Mauricio Di Bartolomeo. They chatted about what crypto backed loans are, going global and saving the world. Enjoy! (Transcript)
- Experiencing the dismantling of the Venezuelan economy; a broken financial system
- The use case and value of collateralizing digital assets
- Libertarian aspects of bitcoin and how it is benefiting the people outside of North America or in tyrannical regimes
Ep21-Jan 18: Meritocracy, Decentralized Innovation and the Power of Collaboration
About this episode: On this episode NCFA Fintech Friday's host Manseeb Khan sits down with Hussein Hallak the CEO of Next Decentrum. They chat about AI in the education space, mentorship, and what decentralized innovation looks like to him. Enjoy ! (Transcript)
- Humans aren't perfect but we've managed to create online meritocracy through communities and value systems
- A vision for global education and decentralized access to innovation and mentors
- Top advice to startups and entrepreneurs launching new ventures (passion, idea, ability to add value)
Ep22-Jan 25: Reducing Regulatory Burden by 25% in Ontario
About this episode: On this episode of the Fintech Friday's Podcast, our Manseeb Khan sits down with Amar Nijjar the CEO of R2 investments. They chat about how R2 is helping innovate the real estate space, the Ontario's Securities commission hitting their 25% burden reduction goal, and Canada becoming a force to be reckoned with. Enjoy! (Transcript)
- The complexities of Canada's regulatory burdens are preventing us from becoming a global player
- All innovative entrepreneurs in the fintech sector should be getting behind the burden reduction initiative
- Commercial real estate is a good asset class and now open to regular investors
Ep23-Feb 1: Getting Smart About Crypto and Insurtech Snapchat Models
About this episode: On this episode of the Fintech Fridays Podcast, our host Manseeb Khan sits down with Justin Hartzman the CEO of Coinsmart. They chat about education the average Canadian on crypto, the future of digital wallets and the new wave of insure-tech. Enjoy! (Transcript)
- Move over bear, OTC markets are biting at the bit
- Supporting Canadian entrepreneurs and awesome tech
- The latest in insurtech snapchat models
Ep24-Feb 8: Re-imagining Philanthropy with Daryl Hatton
About this episode: On this Episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Daryl Hatton the CEO of Connection Point. They chatted about microprojects, saving little girls and puppies and how to get hooked on Philanthropy. Enjoy! (Transcript)
- Focus on value and avoid the complicated terminology when growing new innovative markets
- Branding customer segment-focused funding products, white labeling collaborative uses cases
- Crowdfunding for good at the intersection of technology, people and impact
Ep25-Feb 15: Unlock the World with Kate Guimbellot and Jason Sosnowski
About this episode: On this episode of the Fintech Friday's Podcast our host, Manseeb Khan sits down with Kate Guimbellot and Jason Sosnowski from the TravelCoin Foundation. They chat about bringing Free Wi-Fi to the world, blockchain in medicine and how their ICO is different from the rest. Enjoy! (Transcript)
Guests:
- KATE GUIMBELLOT, Executive Director, TravelCoin Foundation (LinkedIn)
- JASON SOSNOWSKI, CTO, TravelCoin Foundation (view)
Ep26-Feb 22: Crowd raising with Peter-Paul Van Hoeken
About this episode: On this episode of the Fintech Friday Podcast, our host Manseeb Khan sits down with Peter-Paul Van Hoeken the CEO of Frontfundr. They chat about crowd raising, drinking your own whiskey and the future of Canadian crowdfunding. Enjoy! (Transcript)
Ep27-Mar 1: Blockchain Gaming with Shidan Gouran
About this episode: On this week's episode of the Fintech Friday's Podcast our host Manseeb Khan sits down with the CEO of Global Blockchain Technologies Shidan Gouran. They chat about acquiring X2 games, Facebook getting into the blockchain, and the future of Fortnight - Enjoy! (Transcript)
GUEST: SHIDAN GOURAN, CEO, Global Blockchain Technologies (Linkedin)
Ep28-Mar 8: Rethinking Brokers with Muhammad Rashid
About this episode: On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Muhammad Rashid the CEO of Moregidge. They chatted about how to find a broker that will work for you, how they are revolutionizing the mortgage space and their plans for the future. - Enjoy! (Transcript)
Ep29-Mar 22: The Future of Securities
About this episode: On this Episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Richard Carleton the CEO of the Canadian Securities Exchange. They chat about the future of Canadian Securities, STO's and Icelandic mining being the next big thing. Enjoy! (Transcript)
GUEST: RICHARD CARLETON, CEO, Canadian Securities Exchange (Linkedin)
Ep30-Apr 12: The Future of Canadian Crypto With Andrei Poliakov
About this episode: On this episode of the Fintech Fridays Podcast, our Host Manseeb Khan sat down with Andrei Poliakov the CEO of Coinberry. They chatted about the future of Coinberry, the power of blockchain and his favorite failure. Enjoy!(Transcript)
GUEST: ANDREI POLIAKOV, CEO and Co-Founder, Coinberry (Linkedin)
Ep31-May 14: Blockchain Law with Jason Saltzman
About this episode:
On this episode of the Fintech Friday's Podcast, our host Manseeb Khan sits down with Jason Saltzman partner at Gowlings WLG law firm. They chat about how to make your ICO compliant, Blockchain in law and how to create a business structure. Enjoy! (Transcript)
GUEST: JASON SALTZMAN, Partner, Gowling WLG (Canada) LLP (Linkedin)
Ep32-May 24: Rallying behind Bitcoin with Frederick T. Pye
About this episode: On this week's episode of NCFA's Fintech Friday Podcast, our host sits down with Frederick T. Pye from 3iQ. The chat about bitcoin trusts, ETF's and rallying behind bitcoin. Enjoy! (Transcript)
GUEST: FREDERICK T. PYE, President & CEO, 3iQ Corp (Linkedin)
Ep33-May 31: Indexing Consumer Loans and Financial Literacy EP33
GUEST: PHILLIP POSTREHOVSKY, SVP Marketing, Progressa (Linkedin)
About this episode:
On this week's episode of NCFA's Fintech Friday Podcast, our host Manseeb Khan sits down with Philipp Postrehovsky the SVP of Marketing at Progressa. They chat about the results of Progressa's Annual State of the Non-Prime Canadian Consumers Survey, incorporating behavioural characteristics into underwriting decisions, helping borrowers become more financially literate and improve their credit scores. Enjoy! (More details)
Ep34-July 6: Accelerating Fintech Growth EP34
GUEST: BRENDAN HOLT DUNN, Founder Holt Accelerator (Linkedin)
About this episode:
On this week's episode of NCFA's Fintech Friday's Podcast, our host Manseeb Khan sits down with Brendan Dunn the Managing partner of the Holt Accelerator program. They talk about why are accelerators are important, how the can find the right companies and what their Fintech Show is. Enjoy! (TRANSCRIPT)
Aug 9: Autonomous Alternative Lending with Vit Arnautov of Turnkey Lender EP35
GUEST: VIT ARNAUTOV, Chief Product Officer of Turnkey Lender, (Linkedin)
About this episode: On this episode of NCFA's Fintech Fridays Podcast, our host Manseeb Khan sits down with Vit Arnautov from Turnkey Lender. They chat about how AI will help the lending space, underbanked countries and why cloud lending is a trillion dollar industry. Enjoy! (Full TRANSCRIPT)
Aug 23: Techfins EP36
GUEST: MICHAEL R. KING, PhD CFA, Lansdowne Chair in Finance, Gustavson School of Business, University of Victoria, (Linkedin)
About this episode: On this episode of NCFA's Fintech Friday's Podcast, our host Manseeb Khan sits down with Prof. Michael R. King PhD CFA, Lansdowne Chair in Finance at University of Victoria’s Gustavson School of Business. They chat about transformational fintech, big tech vs techfins and fintech 3.0. Enjoy! (Full TRANSCRIPT)
EP37-Sep 13: Funding is Female with Jill Earthy
GUEST: JILL EARTHY, Head of Female Funders (Linkedin)
About this episode: On this episode of NCFA'S Fintech Fridays Podcast, our host Manseeb Khan sits down with Jill Earthy the Head of Female Funders. The talk about what the Angel Academy is, why female funders matter, and the holistic approach to innovation. Enjoy! (Full TRANSCRIPT)
EP38-Mar 25: Why identity matters in an evolving online environment
GUEST: DAVID LUCATCH, President & Director – KABN Systems North America Inc. (Linkedin)
About this episode: David Lucatch of KABN Networks North America joins Tristram Waye for this episode of Fintech Friday. David discusses why identity is a foundational element of the evolving online and data environment, and why KABN Networks North America has developed a business around it. During this episode he will also discuss:
- How KABN ID works and why it’s a foundational technology
- The suite of products KABN Networks North America has developed around identity and why
- Their vision of the future including the release of Liquid Avatar
Enjoy! (Full TRANSCRIPT)
EP39-Apr 23: The Power of Digitization and How to Get Exponential
GUEST: JAMES WALLACE, Co-founder and CEO, Exponential (Linkedin)
In this episode of Fintech Fridays, Tristram Waye has an in-depth conversation with James Wallace, Co-founder and CEO of Exponential.io
The discussion looks at:
- Exponential thinking and why it’s hard but necessary
- How Exponential sees the digital world, and their unique full stack approach to it
- Why the private markets are both archaic and a gigantic untapped opportunity for digitization
- Why accreditation decides what gets built, and why that needs to change, and much more
Enjoy! (Full TRANSCRIPT)
EP40: Why Bitcoin Exists and Education for the Masses
GUEST: AUSTIN HUBBELL, Founder and CEO, Consilium Crypto (Linkedin)
On this episode our host Manseeb Khan sits down with Austin Hubbell from Consilum Crypto. They chat about how quarantine is going, the state crypto and much more. Enjoy!
Enjoy! (Full TRANSCRIPT)
SEASON 1 EPISODES:
EP1-Jul 20: Global Crypto Payments and the Future of Digital Assets (CoinPayments)
EP2-Jul 27: Canada's Role in the Global Fintech Ecosystem (Fintech Growth Syndicate)
EP3-Aug 3: Doubling Down on Female Founders (Roar Ventures)
EP4-Aug 10: Importance of a Smart Contract Safety Net (Sagewise)
EP5-Aug 17: First Coin's M&A Story - Wall street meets Crypto (Galaxy Digital Canada)
EP6-Aug 24: Asian Crypto Markets meet Canadian talent (Fintech Association of Hong Kong)
EP7-Aug 31: Structuring an ICO and the Mind of a Fintech-preneur (Pegasus Fintech)
EP8-Sep 7: Institutionalization of Crypto, China’s Ban and the Potential of Blockchain Decentralization (NexChange)
EP9-Sep 14: New SmartPay Product & Front-line of Global Digital Payments (Curexe)
EP10-Sep21: A Regtech-based Blockchain KYC Solution for Document Custody (Commercial Passport)
EP11-Sep 28: How Amazon Bank is Dominating and Risks of a Digital Bifurcated World (Schulte Research)
EP12-Oct 5: Building Blockchain Products & Decentralizd Solutions for Enterprise and Start-ups (Northern Block)
EP13-Oct 12: Road to Fintech IPO: Capital Networks, Scalable Solutions, Putting People First (Progressa)
Ep14-Oct 19: The Convergence of Data Intelligence and Money Algorithms (Senso.ai)
Ep15-Oct 26: Gearing up Hyperion Exchange, Hybrid Models and Security Tokens (Hyperion Technologies)
EP16-Nov 2: Envisioning the Future of Open Banking for Consumers and Businesses (Lending Loop)
Ep17-Nov 9: How Artificial Intelligence is Optimizing Sales and the Future of Business AI (Fortuna.ai)
Ep18-Nov 16: Bridging the AML/ATF Gap with Financial Institutions and the New Economy (Coinsquare)
Ep19-Nov 23: Future of Business Tokenization and How Blockchain Challenges Concept of Money (TokenFunder)
SEASON 2 EPISODES:
Ep20-Jan 11: Bitcoin Backed Loans and 2x Credit - Putting Your Crypto to Work (Mauricio Di Bartolomeo)
Ep21-Jan 18: Meritocracy, Decentralized Innovation and the Power of Collaboration (Hussein Hallak)
Ep22-Jan 25: Reducing Regulatory Burden by 25% in Ontario (Amar Nijjar)
Ep23-Feb 1: Getting Smart About Crypto and Insurtech Snapchat Models (Justin Hartzman)
Ep24-Feb 8: Re-imagining Philanthropy (Daryl Hatton)
Ep25-Feb 15: Unlock the World (Kate Guimbellot and Jason Sosnowski)
Ep26-Feb 22: Investing in Private Canadian Companies (Peter-Paul Van Hoeken)
Ep27-Mar 1: Blockchain Gaming and esports (Shidan Gouran)
Ep28-Mar 8: Rethinking Brokers (Muhammad Rashid)
Ep29-Mar 22: The Future of Securities (Richard Carleton)
Ep30-Apr 12: The Future of Canadian Crypto (Andrei Poliakov)
Ep31-May 14: Blockchain Law (Jason Saltzman)
Ep32-May 24: Rallying behind Bitcoin (Frederick T. Pye)
Ep33-May 31: Indexing Consumer Loans and Financial Literacy (Phillip Postrehovsky)
Ep34-Jul 6: Accelerating Fintech Growth (Brendan Holt Dunn)
Ep35-Aug 9: Autonomous Alternative Lending (Vit Arnautov)
Ep36-Aug 22: Techfins (Michael King)
Ep37-Sep13: Funding is Female (Jill Earthy)
Ep38-Mar25: Why Identity Matters in an Evolving Online Environment (David Lucatch)
Ep39-Apr23: The Power of Digitization and How to Get Exponential (James Wallace)
Ep40-May22: Why Bitcoin Exists and Education for the Masses (Austin Hubbell)
SEASON 3 EPISODES:
EP41: 40% pandemic growth, taking risks and innovating Insurtech in Canada (Danish Yusuf, Zensurance)
EP42: Insights into the Teen Banking Sector and Improving the Financial Well-being of Families (Rim Charkani, WALO)
EP43: Taking the Mortgage Process From 40 Days to Minutes (Chris Gries, FundMore.ai)
EP44: The Vanguard of Digital Innovation and Ecosystems in Canada (Various NCFA Advisors)
EP45: Mission-driven and Consumer-centric Financial Services (Keith Taylor, DUCA Impact Lab)
EP46: Making Business Borderless: International Payments and Partnerships (Alastair Thompson, TransferWise)
EP47: How to Change the World: Risk Culture and Work-life Balance (Michelle Beyo, Finavator)
EP48: How to Connect and Resonate with Customers Through Podcasting (Fatima Zaidi, Quill Inc.)
EP49: Managing Private Placements Has Never Been Easier (Brock Murray and Karan Khiani, Katipult)
EP50: Compliance to the moon (Mark Binns, Digital Assets Inc.)
EP51: Bacon and Eggs (Julien Brault, Hard Bacon)
EP52: Technology Due Diligence Process and Cyber Security Risks (Forward Security, CIBC, RiskAware Group)
EP53: Staying True to Bitcoin (Chris Naprawa, TAAL)
EP54: How Digital Identity will Transform Human Potential (David Lucatch, Liquid Avatar Technologies)
SEASON 4 EPISODES:
EP55: Global hiring trends: How Gen Z Talent Thrives (Anne-Marie Fannon, Work-Learn Institute, University of Waterloo)
EP56: How We Raised $426 million Using Rewards Crowdfunding (Zach Smith, Funded Today)
EP57: 10 Years of Investment Crowdfunding: Past, Present, and Future Since the Act (Expert Advisors)
EP58: Using Risk Management to Improve Your Business and Life (Alex Sidorenko)
EP59: Master Entrepreneurship with YEDI! (Maria Konikov)
EP60: Revolutionizing Small Business Lending and Empowering Entrepreneurs (David Souaid)
EP61: Making Markets and Investing in Crypto with the Phoenix App (Kay Khemani)
EP62: The Future of Investment Crowdfunding: Innovations, Data, and Opportunities (Sherwood 'Woodie' Neiss)
EP63: From Angel Investor to Change-Maker: Investing with Impact (Marcia Dawood)
EP64: House Rich Cash Poor And The New Home Equity Playbook (Shael Weinreb)
EP65: Personal Guarantees: The Most Expensive Autograph an Entrepreneur Can Sign (Craig Arnatt)
Interested in getting involved in FINTECH FRIDAYS? info@ncfacanada.org
FINTECH FRIDAY$ is a weekly podcast brought to you by NCFA and partners, where we sit down with the incredible people in the Fintech and Funding community and talk about trends, product innovations, developments and challenges!
Fintech Fridays is an evolving and innovative educational platform focused on delivering authentic personalities, content and story telling on the journey of mainstream adoption of new financial technologies and their impact on the future of finance.
Subscribe and tune in each Friday to check out the latest movers and shakers with hosts Manseeb Khan, Tristram Waye, Anna Niemira, and others coming soon.
Want to get involved? Contact us about partnerships opportunities, hosting and more: info@ncfacanada.org
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 FRIDAY$ (EP.19-Nov 23): Future of Business Tokenization – How Blockchain Challenges Concept of Money with Alan Wunsche, Founder and CEO, Token Funder
NCFA Canada | Nov 23, 2018
JOIN US ON A STORYTELLING JOURNEY EVERY FRIDAY.
Ep19-Nov 23: Future of Business Tokenization - How Blockchain Challenges Concept of Money
About this episode: On this episode, NCFA Fintech Friday's host Manseeb Khan sits down with Alan Wunsche the CEO of TokenFunder. They chat about ICO's funding startups, tokenization of businesses and buying real estate through tokens. Enjoy!
- The future of business tokenization
- How tokenization is going to disrupt real estate and auto industry
- How blockchain challenges the concept of money
Host: Manseeb Khan, NCFA, Fintech Fridays show host
Guest: ALAN WUNSCHE, Founder and CEO, TokenFunder (view Linkedin)
Bio: Alan Wunsche is CEO & Chief Token Officer of TokenFunder, a regulatory-compliant blockchain venture funding platform with Ontario's first regulated Initial Token Offering. He is also Chair & Co-Founder of Blockchain Canada, a Canadian federal not-for-profit corporation with a mission to connect Canadian Blockchain Innovators and to help Canada be a leader in blockchain technology. Alan is a finance technologist focused on new blockchain business models and the disruptive impacts of blockchain on global wealth distribution. He brings hands-on technology experience as a finance and risk transformation executive at a global bank (Scotiabank), management consulting (Deloitte, PwC), and startups.
Alan is a leading blockchain / fintech expert. Alan has hands-on finance and technology executive with deep governance, strategic planning, process reengineering, big data analytics, risk management and information management transformation consulting experience. Alan is elected Canadian Chair of Canada’s ISO/TC307 Blockchain Standards Committee. Alan is a blockchain startup CEO, conference speaker, blockchain community organizer. Throughout his 25 year career, Alan has been a trusted business partner to CIO’s, CFO’s CRO’s, CMO’s and CHRO’s, leading business performance improvement programs by transforming finance, customer and risk IT systems, processes, and organizational structures.
Subscribe and tune in each Friday to check out the latest movers and shakers in fintech.
Listen to more Fintech Fridays podcasts here
Transcription of Interview
Intro: Welcome fintech Friday's a weekly podcast brought to you by the National Crowdfunding and Fintech Association of Canada and partners.Covering all things fintech block chain be AI and alternative finance.
Manseeb Khan: Hey Everybody. Hopefully you're having a fantastic day. Manseeb Khan and you were tuning into Fintech Fridays is brought to you by the National Fintech and Crowdfunding Association also known as the NCFA. Today I have the absolute pleasure of having Alan Wunsche the CEO of Token Funder. Alan thank you so much for sitting down.
Alan Wunsche: It's a pleasure to be here. Thank you.
Manseeb Khan: No absolutely. I'd love to. Just for a second ,for I guess some of the audience members that may not know who you are and what your company is. Could you just for a minute tell us who you are and what Token Funder is?
Alan Wunsche: Sure thing. So, my name is Alan Wunsche and I am the CEO of Token Funder. Who I am. So, I started in blockchain four years ago having left the traditional banking space. So, I worked at it as an executive in a fairly large bank. But I left and who I am really is a leader of a company that is on the leading edge of a lot of this new era of funding and alternatives to what is currently our financial infrastructure and banking system. So Token Funder and we can talk about anything you want to in terms of your questions. So, I'm sure you'll have lots of them, but I'll just say Token Funder as a company. We started on this journey of two years ago. To build a platform for companies to use in a legal regulatory compliant way such that they could use the latest in blockchain technology and bring their company to the market and use it as a funding vehicle so that these companies that would go under the platform can raise funds and do that in a way that helps really drive a democratization of ownership. So, what drove Token Funder is not that we could just do something that was happening already, and you know crowdfunding existed for sure but that was a real eye opener that we could also do crowdfunding. But in really interesting ways on through blockchain. So, we took the approach that we were going to take a company keep it in Canada, build it in Canada use it initially as a service for Canadian companies and then go global. So, in a nutshell Token Funder is building really an alternative funding mechanism and some additional services that now make us look like a funding and growth company for startup companies and scale ups. So, we're getting interest from not just your super early startups but also companies that are in market as well.
Manseeb Khan: That's very exciting. I can't wait to, I don't know if you can talk about that but maybe next time when you come on the show would love to dive a little bit deeper on like the growth stuff that you guys are interested in.
Alan Wunsche: Sure, we can talk, or we could talk a little bit about that today.
Manseeb Khan: Ok. Also, you mentioned you guys are actually going to help companies when it came to regulation. Could you talk a little bit more about that because when you think of raising tokens and raising Regulations definitely have been something that people have been concerned of. If not, there's been a lot of ambiguity when it came to regulations. When you talk about regulations what does that mean to you. And what is that coming from your end?
Alan Wunsche: Sure, we do have a fairly well-established securities regulations in Canada, the US, UK, Australia, and other places right. So, these regulations that we're referring to include securities regulations that also includes anti-money laundering regulations that the government is obviously concerned about. So, when you think about looking at the kind of journey we had. So when I talk about the regulatory route that we had, we started working with the Ontario Securities Commission launch pad when they first came out and we looked and said okay we looked around and there were some early indications that that at least one company essentially had to leave or decided to leave didn't have to but decided to leave and incorporate in another jurisdiction. And it could have been you know Barbados or Switzerland or one of these others. And the reason for that being that the regulators didn't have as much certainty for them or that very likely their particular business was going to result in the securities offering. So, these companies said to themselves well will establish ourselves in another authority. So that essentially, we don't have to worry about the regulatory concerns or restrictions that may be placed on the company here in Canada. And that actually worked really well in 2017 and into the mid part of 2018. So, they raised a lot of cash. Now where the story is important for your audience if you're going to go down this road. So those companies that raised on cash outside did not include a process that's referred to as KYC. And sometimes some little misunderstood. But I'm sure you've talked about that with the previous podcasts. I'll just repeat it. KYC meaning know your customer or your client and in the given the traditional kind of initial coin offering process that you could have undertaken outside of Canada, Us and as I said Australia or the UK you could go out and you can anonymously raise funds from pretty much anyone in the world because blockchain allows for that to happen fairly anonymously. So not purely anonymously but we will get into the technology around that. So, company could go to Switzerland, Barbados or the Caymans and these other jurisdictions say OK set up shop we've got a new business and you can invest in us quote unquote right. But we're not going to worry about who you are, we're not going to really worry about those things. Well if you're going to do that in Canada if you're going to do that as a Canadian company in Canada there's very clear guidance and regulations that you really have to understand who that person is that's investing. And the reason for that is because you have to also understand their risk profile. So, know your customer just doesn't mean you actually know what they're you know what their name is and where they live. But for the sake of investor protection and this is throughout Canada throughout the U.S. for the sake of investor protection you really have to understand the risk profile of the investor and whether your particular investment is a good suitable investment for your business or for them into your business. I should say so. So, I'm just and drawing some contrasts for you and any audience at this point because you know what's happened is that we've gone through kind of a two-year process here working with the regulators and we added KYC. So, I'll talk about maybe our token offering we added KYC is a process in terms of our Canadian offering. And that's in contrast to a company that didn't do that well. Now the OSC and the S.E.C. are coming back around to these do these coin offerings that happen over 2017 and 18 and saying well you were actually selling an unregistered security. And if you've not protected yourself and it was impossible to do so you've allowed Canadian residents to invest in your business. Then we have a problem with that. So, when we did our token offering this the process we went through last year. So, we started last over the winter into the early part of 2018 and through the whole hype cycle of all these ICOs and here we are in Canada doing a token offering that has KYC understands the risk suitability of these potential investors. And we turned a lot of people away that we're interested in investing because we determined that it wasn't just suitable investment for some of them. So, it's essentially an online process that we installed, and we know who the investor is, we white list them in a smart contract and then we also token it. We also issued a token which would probably end up being our token and that token also had some rights. So, we're going to continue a little bit more along the contrasting because many of those new projects that went out in 2017 and 2018 outside of our jurisdiction would have terms essentially that that included something like you're contributing to this particular project but frankly you have no rights whatsoever. And just hope and pray that our new protocol token will be appreciating in value and oh by the way you can go and trade it and pump and dump it on one of these new digital exchanges. Well that's what our regulators here refer to as the Wild West. We contrasted that with OK. So if you're going to invest to get a Canadian startup such as ours you're going to have to have some patient money and we won't issue our token on a digital exchange that you can go pump and dump in because if we just don't believe it's appropriate next to other regulators by the way in the Canadian context and as long as you have some patient capital and you're willing to consider at risk capital and then we think it's appropriate for a part of your portfolio. So just like any other kind of proper investment process we implemented that kind of steps and we had an offering memorandum and we had an annual report attached to the offering memorandum I should say and audited financial report. And that's the kind of disclosure that investors expect. Now I'll just stop there because I'm sure you've heard of the whole speculation craze that happened with initial coin offerings and now it's kind of fallen apart and for good reason now that they are in the broad world.
Manseeb Khan: You did mention a really good point of talking about how KYC it goes a little bit further than just other than the baseline surface level like first name, last name and where you're really from. I'm glad that you guys actually took a little bit more of initiative of understanding. Not only is it important to understand who you are but would this be a good enough investment for you. Right. Not even like oh hey yeah this is money we're taking it. Its you guys have a more of a screening process, more a vetting process which hopefully more companies like yourself in the space to start to adopt and actually have these like set requirements that people have to kind of meet to either throw their money in like you mentioned patient money. People don't think of patient money when you talk about blockchain or crypto because they think again, they think pump and dump which makes sense because a lot of the news and a lot of the media out there is very much of oh look at this coin. It went from zero to 100 million and then the founders just disappeared, or they just shut everything down right.
Alan Wunsche: Yeah. I mean this is really important, and I hate the term pump and dump but unfortunately, it's out there.
Manseeb Khan: Yeah, I'm not a fan of either.
Alan Wunsche: You know And I'll also. We didn't invent this. These are best practices that are already baked into our securities legislation. Not everyone appreciates this. So, when we started working with the launch pad you know it was it was a learning experience on both sides. So, we shared everything we knew about blockchain we came in and said this is how it all works. We're going to tokenize these businesses. Oh well what does that mean. And we can talk a little bit about that subsequently but ok sounds interesting sounds like something really novel. Now we'll also make sure that you're aware of how we expect companies to behave like good corporate citizens in the Canadian space. And you know it is very clear if you choose to look for it that it says when you accept investment into your business you need to understand a person's risk profile. In fact, that's what goes on in the online trading world today. And you know there are existing rules that say essentially, you're supposed to look at them every time anyone makes a trade and that it's a risk suitable trade for them. And there's other kinds of you know online verification that people have to do. So very similar. Just because we are in a new space doesn't mean that we have to create everything from scratch. And I want to make that point because we took the time to really understand what the big boys and let's call it, we're doing and then apply it to our particular case. So, you know we scaled it down to make it appropriate for us and we got some particular exemptions for our token offering such as being able to raise funds from our own platform which is something that traditionally you're not allowed to do. So, there were certain things that we essentially were allowed to experiment with. And this is part of trying to frankly do the right thing work with it, work with our regulators and use the latest innovative technology. Now for your benefit and others let's be clear that's a long process. So, it would have been and trust me in terms of temptation it would have been a one-month process for us to go to Barbados or Caymans or Switzerland or another place like that raised 20 million dollars. We ended up doing about a nine-month process. So not for the faint of heart to just stay here. There's a lot of regulatory discussions that ended up happening just to be super clear about that. But you know what. At the end of the day I think we're proving out that doing it for the right reasons and doing the right thing. Actually, let you sleep at night and hopefully let your kind of do right by everyone in the space. And I mean you know I've been in this space now for four years. When Ethereum kind of hit the world. I saw it launch with a small group of folks here in Toronto and I was disappointed Ethereum had to leave the country for Switzerland. I understood how it was kind of regulatory uncertainty and other reasons that that drove that decision. But you know still you want to. You want to do it. You want to build a business for the right reasons and act accordingly. My background I didn't mention this as a CA now we're part of the new CPA organization. And you know there's ethics and guidelines and all of that good stuff that frankly went out the window in the ICO craze and it was disappointing to see all those ICOs that kind of tarnish the image of the blockchain industry. So yeah. Yes. So, I mean moving forward we're living in an environment now. I'll just add that you know while we're using the blockchain technology we're also that kind of company although we're called Token Funder, we're not saying to people you know we're somehow blockchain or bitcoin evangelists or ether evangelists if it makes sense for your business. We're going to we're going to help you out.
Manseeb Khan: Yeah like you've mentioned a couple of things. There's always going to be bad actors that make sense and I guess any new emerging industry just do again like you've said. Doing the right thing is always the right thing and helps to sleep at night right. It would have been a lot easier for. You're seeing a lot of these crypto companies going to the Cayman Islands or going to Switzerland or what have you and not really knowing that like okay cool like this. Okay. Awesome. The Cayman Islands is very right now. They're very willing to work with crypto companies and everything but this goes back down to KYC of knowing your customer and knowing. Okay cool. But What about everybody else. What about people in the rest of the world. What about Canada in the US and all the other markets that are very apprehensive when it comes to this new market. You can't really tackle them, and you can't really maximize or just sorry. If not anything you can capitalize on because they're restricted to the rules and regulations just because you're not. It's not as an even playing field as you might really think it's a temporary fix if anything.
Manseeb Khan: Yeah, it's really complex because as I said the temptation was there and the temptation was strong enough for a lot of companies to go and do it frankly. And you know just say well we're going to do this in another jurisdiction and will eventually come home and try to. Well let's just park that because there's tax reasons also that people make tax, or you know businesses tax decisions to go to these kind of tax havens and we get all that. Now ultimately, you're going to have to come back here. Ultimately if you're businesses here and you're interested in living and working in this great country then you have to come back around to our environment. Now so all of that going to make it clear that it's a process that I believe in and yet we're trying to make change within the regulatory regime. There are outdated regulations there and there's no question about it. There are regulations today that benefit the big players and the incumbents. So, you know a startup getting into this space for alternative funding and a startup like ours that is looking to do have a marketplace for these future tokens. That's great. Trust me that kind of system that's in place today makes it difficult. So, we're trying our level best to get change and to get exemptions to make some of these existing regulations work for startups that want to innovate in the space.
Manseeb Khan: Which I mean it makes sense because like we talked in the past I mean if anything last episode we talked about how we had Charlene from Coinsquare. I like Charlene, she’s great. She is really! she mentioned she's like hey look people have to understand that the banks had 20 years at this and they're still I mean to this day they're still trying to figure out regulations and everything. So, it’s kind of make sense that especially in the startup community in Canada it's been very new, it's very new around the world. Entrepreneurship is finally getting the warm embrace that it's longing for so many years now. And it makes sense that I guess for the time being that it is an uphill battle and hopefully within due time with amazing players like you want amazing players like Her the regulators be the government or be it any other bodies understand where you guys are kind of coming from an understand that hey like having regulations that are not as rigid, a little bit more fluid it only benefits everybody in the long run.
Alan Wunsche: Yeah. I just add also to this point there are a lot of restrictions about what investors can do. And you know there's a lot of good reasons historically for that. Now we're moving into a world where the millennial generation wants to manage their own portfolios. They want the kind of freedom that a decentralized place can offer them. They look around and you know we talk to many that you know they're in their 20s 30s and you know they're saying why. Why are these startups and innovative companies’ kind of limited to the accredited investors that are the really wealthy ones? So why did the really wealthy people get to continue to get first dibs if you will on the really great next investment. And that was really one of those kind of if you will big why's or big reasons for us pushing for the democratization we're where we said we could have easily have cut short our timeline for our own token timeline and said yes are legal and others said this is easy just let accredited investors in and shut out all the retail investors and we said no we really believe deeply that this is a space now that let's say a startup is getting some traction it can go to the marketplace and wants to have you know a broad ownership pool of up its platform let's say. Like let's just say there's you know that the future Airbnb and wants a broad level of ownership through this new mechanism well you know is it limited to just accredited investors. We don't believe it necessarily needs to be. As long as again the retail investors aren't spending you know investing everything they know into a super high risk or everything they have into a super high-risk investment that kind of throws caution to the wind. But it's I want to get the point across here that we have the ability to make it easy for someone to go directly to a company and invest almost directly without traditional kind of financial intermediaries that that are the big names that you might see today and you won't describe them but you can apply new technology in a way that that really reduces the friction between the investor and the company and want to open that up to the retail investor. And if you think it's like crowdfunding Well it's like crowdfunding on a new level. Yes, it's Yeah. Oh, for sure. And then and then we're looking at you know traditionally when you invest in a private company there are pretty strict rules for traditional reasons that are that are still good reasons about the liquidity and you know they were there so many of these ICOs that said you would get immediate liquidity and then you can go. You know you don't have to believe in the company you can go get an immediate liquidity on you know X,Y or Z digital exchange. And that's great. Do whatever you want on the other end of the spectrum. We've traditionally been very restrictive about or quite restrictive about what the retail liquidity to look like in a private company and we believe that there's no changes that should happen. So, it's a bridge, right? We in effect to we as a company here are looking to and have been you know I describe ourselves as kind of a bridge between the traditional way things for working and in the existing regulatory environment. But I mean we've got very clear regulations Yeah. we can change them.
Manseeb Khan: It is very important to again have companies like you, have amazing people like you in the space to make not only I guess the old traditional world but also the new world understand like millennials like me. I'm like Yeah. No why can't I invest in the next and Airbnb and become an accredited investor. But I'd love to. I'll be amazing.
Alan Wunsche: Today you wouldn't be able to.
Manseeb Khan: Exactly because there's so many rights now to become accredited investor. There’re so much more criteria you have to meet. And like you said for private companies it's even more so. Right there there's even more rules and even more red tape for just a 23-year-old college student like me to like to invest in next Airbnb like we're not there yet. But it's very exciting that it could be on track and that there is stuff put in place to make sure that one day everybody can potentially invest in the next Airbnb.
Alan Wunsche: That's the exciting part about this. And you know I talked to so many people. You know I still feel young but I'm not as young as you are. No. You see you know 20 20 and 30-year old. I mean in terms of age but in terms of you know that the mindset is why can't we do this mindset right. Let me just be clear. There are very good reasons why there's certain regulations in place essentially to prevent the scamming that happened all around the world in the ICO craze. OK. So, putting that aside if we can do this very in a safe manner it still looks after the investor protections then why can't a retail investor get in on the next really cool startup. Why does it have to be kind of limited or why should a retail investor be limited to you know twenty-five hundred dollars or something like that. You know when an accredited investor by the way who is typically very wealthy you know they have much higher limits but they're not always frankly more intelligent or aware of what this new technology is. So, we get a lot of people saying well I really understand this technology why I am limited. You know a small tiny little investment. What's the art of the possible and how can we get it. How can we get a safe environment? And it's not in or position and opened the door to a broad kind of democratization of investing opportunities.
Manseeb Khan: This bridge is very much it can be built like again all regulations are not there to like they're not out to get us right. Like the man isn't like putting us down or anything. Like you mentioned what we've pretty much started the show off with like Hey these rules and regulations are put in place so that we don't get any more scam. There's no pump and dumps and this whole potential market gets kind of blown to bits because there's no rules in place as the Wild, Wild West and everyone kind of gets screwed over which is terrible. Since you are working with startups and I'm myself in the startup world do you see ICOs taking over IPO's in the future and I guess what the future of ICOs is look like to you given that your opinion is a little bit biased but still.
Alan Wunsche: Yeah, I mean for sure I'm biased in looking at what the art of the possible is. So, what is possible, and I don't you know for the last couple of years since we started Token Funder, I didn't use the word ICO whenever I talk to anyone in this space. I mean of course the ICO term was taken off, but I more can keep them in this initial token offerings and the token being the more generic form because not everything you put out there is a coin or a crypto currency. So that's kind of like where do you see the future right. I do think that token offerings and this democratization of investing opportunities into innovation puts us into innovative startups will be very real and it's a very real outside alternative funding mechanism for companies. Now what that means is that. There's that there's going to be a transition period. So, it's yeah. Let's say and we all know what's going on with the broader crypto currency in quotes. Marketplace today. Right. So, the value of its down and it would seem that even know some people that have lost some amount of value added and all that. But let's just in one sense if we put that aside it's quite efficient to move anything of value whether it be a share in a company or you can say I'll take this business and I'll put 10 percent of this business on to go into a token that people could buy into. And then there's a marketplace for it. It's very efficient and you don't need a large infrastructure when you already have a public blockchain. You don't need to use a traditional funding vehicle. So, people have also asked me if I could address this in other in other conference panels and whatnot. Whether this is the venture capital and ultimately the answer is not necessarily because some companies may want just one or two people investing in them and some companies might want thousands of people investing in for different reasons for different business reasons. So they'll be a hybrid but there's no question that the token offering model is a very efficient one and you can just imagine you know in the future you're going to have your wallet there and you're going to have a wallet that shows some Canadian cash or some other kind of currencies and then you'll have you know a share of. So, what your startup called? It's called Curexe. Ok. So Curexe. So, I'll have a share of Curexe alongside a share of Apple alongside you know some crypto in a wallet. And if I want to sell that share of Curexe. So, you know I'll be able to do so with whatever is appropriate you can be in the marketplace. And this will be the new way of our next generation of investing. And it's going to be powered by public blockchains I believe.
Manseeb Khan: I'm very excited for it to be one of those many thousands of investors if anything this is just another leg that's going to be attached to the be it VC's, be it any other investment funds out there right. Because it's just in a sense they're just diversifying. And if anything, it just can be a supplement. Right. Like it is an alternative way of funding. It's going to be a shift. Your absolutely right.
Alan Wunsche: So yeah. Where did and where do you want to take the conversation.
Manseeb Khan: Yeah. So, you did mention a little bit more of tokenization of businesses. Could you talk a little bit more of that? What is a tokenized business? What does it mean? How do I get my start up to become a tokenized business?
Alan Wunsche: I won't give you the fully comprehensive answer to it but just think about think about some example’s tokenization is this mechanism of enabling fractional ownership and then the fairly easy transferability of that fractional ownership. That's from person to person in a blockchain right through the blockchain. There's very recently an example where a company tokenized in an entire building. So, imagine an entire building. Thought of as you know a particular token. And then imagine being you know on one side of the country and you just want to invest in a you know in a fraction of a building that happens to be on the other side of the country. No problem. And then you know your circumstances change and you'd like to liquidate that and or the value of that building goes up. You can. You can basically sell your interests. This this is technically so easy to do on the blockchain now. Now we've just got to kind of connect with the real world. And the real-world documentation that says by the way this building is represented on a blockchain officially at this location. And now go now it's available for people to buy into and transfer. That's really interesting. So, I took great interest in that. There’re other examples of. There's an example that I think is intriguing and I'd be interested in your take on this. There's this company called rally road. So, they've now said we'll go out and on behalf of people will go out and buy this this antique car and this antique car is X and it's a named vehicle it's a real vehicle. Happens to have no value X today and we believe that if we hold onto it it'll have value Y tomorrow. So, we convert that into a token and allow for fractional ownership of that particular antique car. And it's called rally road. So, they're embarking on a tokenizing that kind of asset. And then at some point you know on a fairly regular basis the company will presumably say OK, so this asset is now worth X, worth Y and if you've got enough appreciation out of it you can now sell your interest.
Manseeb Khan: That sounds amazing. I'd love to own a piece of it like a 1969 Mustang or something like. that Ford Mustang would be. It would be exactly the kind of example that that I heard talked about it so. Oh wow. All kinds of really interesting cars that they happen to be focused on so that's just that's just one model. So now cars, real estate, business, business shares you name it any essentially any assets. Just kind of marry up to the legality of it and people are considering you know that the home or the condo that you own. You know if you want some help in owning that you have that house or condo down the road. I'm sure it will be quite possible that you'll say great I've got this this residence that is known in the world in you know as registered by the government and under this lot. And you know identity and oh by the way I'm willing to legally sell a fraction of it. Which is going to be pretty easy for you for that residence to be the tokenized.
Manseeb Khan: Yeah. No, I love it. I'm waiting for the day for a company to say like hey you want it we tokenize it.
Alan Wunsche: So, this is it so Token Funders vision here is to start with companies and you know doing it in a manner that allows them just to say let's call it equity, let's call it debt let's call it something like that and we'll do that right. But we have got a lot of other interesting thoughts around how we can take the token model and not just be about capital raise. Yeah. And so, some of those ideas I've just kind of touched on here. So you have the hope that these other spaces certainly interest me and then we become so the other thing I mentioned at the top of this chat with you is we've said that and we're going to also build a network around these companies that we're currently helping and that's what I call this not just funding but actually involved in the growth of the company so identifying advisors and resources from wherever they might be and providing them with an incentive of a token. say to help that particular startup. So that you're not just then a startup that's only getting you know help and guidance from those immediately around you but that that can come from anywhere in the world if you incentivize it through a token structure.
Manseeb Khan: Yeah. No that's wow I can't wait for that. Yeah. No, I'm working on it. No that's wow. No that's incredible. I can't wait for that. So, like I'd like a nice network or even. You can probably call a community of just advisors and just people like be it from actual customers that are willing to use it or be from actual like V.C.s that are willing to like oh yeah no I can totally see that like the actual implementation of this XYZ product or service like you might have right.
Alan Wunsche: I'm just going to I'm just going to add a little reality to this right now. So, I just recently came from the global Ethereum developers conference called Dev Con in Europe it was in Prague and there were thousands of developers and continue to work on the next big thing. And also, creative people. So, the UX is really important. The important thing that folks listening to this will probably want to understand this is that we're not quite there in this new infrastructure called you know in this case the Ethereum that it's scalable worldwide as we might want it to be. So, we expected that there was there was going to be some changes this year. And so there was a lot of kind of pent up hope and all the anticipation for upgrades to the public blockchain for scalability. And now it's being pushed into 2019 but it's not that far off. So while it's not a platform that's fully scalable such that you know you can put every single asset in the entire world on a public blockchain and know we can run a piece of network on the public blockchain those are still very visionary but 2019 is now the year that we can anticipate some upgrades to scalability and speed throughput on these blockchains. So that's kind of a dose of reality.
Manseeb Khan: I love it. I can't wait, so yeah everybody you heard it here first. Make sure 2019 you guys start earmarking for getting a piece of that Ford Mustang that I so badly want. There you go. I can't wait. I can't wait. So, can anything else that really excites you that's going on in the space other than owning a piece of a building and owning a piece of my dream car.
Alan Wunsche: I think it's generally really exciting that this is going to be a technology that will bring and has really kind of awakened. I'd say a vast number of people in the population around asking real big questions around Where's the power in today's society? Who's running our big financial systems? Are they running it the right way? Should we be decentralizing some of this power? I mean these are really big questions. I don't have all the answers to them, but I think it's been real. The technology itself has been a really good catalyst to asking these questions and to ask questions of governments that they currently manage are central banks and central currencies. When and if let's say in the coming years they'll start to suggest that we're going to have central bank digital currencies as they are looking at today. It will be really interesting and it's exciting to think about these things, but it also be interesting to think and important for people to think about you know Are they getting the privacy they need going forward? Are they getting investment opportunities? Is this technology decentralizing our power structures? What will happen if we have no central bank digital currency? I think it's actually opening up exciting conversations for a lot more people to understand how money moves. Who manages. Are our societies. Who governs our societies and how money flows and those are so those are some really big socio-economic questions in in the context of you know things to think about. This is not just a blockchain, but this is a technological shift that we're going through with the impact on a lot of jobs too. Oh absolutely. So, what do I think. I think that you know opening up this dialogue about what is money? Is Bitcoin money? Is ether money? Should it be, or should it be something else? This is an exciting time to be challenging the status quo and in doing it and always doing it for the right reasons right. Yeah absolutely. But for decades had infrastructure that's been very centralized. And now people have the opportunity to rethink some of that with decentralizing technology. Rethink the fact that you know one or two or three very large companies own our social identity if you allow them to do so and we may have you know the decentralized version of Facebook that gives you your identity back. That's exciting.
Manseeb Khan: It really is because it's this is the first-time in. I kind of want to say first time in a long time where power is really going back to the people and the people actually have the power to fight back. And every everybody's kind of looking at the current way the world works. How do how money flows. Who actually runs and operates the money. Who and why they get to operate the money everyone is kind of looking at it as more. they're looking at it more skeptically if anything right and their take their second guessing it. And there's again the technology is emerging where maybe not only fight back but maybe create a world where it's a little bit more of an even playing field and where everybody and anybody can hopefully one day participate, own a building, buy my dream car. You know and take it from there.
Alan Wunsche: You said it even playing field and that's the whole discussion around decentralization and is there. What playing fields are we evening. I think it'll be a bigger wake up call. Should there be a nobody wants this frankly, but should there be another recession. Because you know in 2008, 2009 we all lived through it. We kind of woke up and realized hey call your financial infrastructures really entangled in you know something that happened and see in Greece or in Italy or in you know or in the U.S. or somewhere reek contagion on the broader world and you know we had a liquidity crisis. That got people concerned that they understood where and how our financial world was managed and so nobody wants it. But you know think about the fact that this is a disintermediating excuse me technology. It's potentially decentralizing existing power structures. It's a could level the playing field, it could bring new opportunities for people to decentralized large. I can call them kind of large centralized web properties that exist today. There's that there's a there's a book that's out you know after Google may or may not have the title exactly right. But you know it's a discussion. It's a book about how the blockchain will in fact decentralize what Google looks like today. And this is a new time. I mean it opens up a lot of new questions and maybe I'll just leave it there because you know I don't have all the answers.
Manseeb Khan: No, I just think it's early but it's an exciting time. Yeah. No, I think it's a great way to really end it like this is. I'm excited. I mean I get own my dream car a lot faster than I thought I could. Oh, I got to get to a real estate a lot faster. I'm very, I'm very fired.
Alan Wunsche: Maybe a thousandth of that dream car.
Manseeb Khan: I mean hey I rather own a piece of it and none of it.
Alan Wunsche: Very good.
Manseeb Khan: All right. So, Alan thank you so much for again coming on the show. I can't wait to have you on again. And thanks for refiring the dream.
Alan Wunsche: I'm excited for you and it's a pleasure to be here with you today.
Manseeb Khan: Absolutely. All right Alan. So, thank you again. So, on behalf of the National Fintech and crowdfunding association I wish you an amazing Fintech Friday and weekend.
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September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
September 15, 2026 | NCFA Market Activity | Lending Consumer Credit And BNPL, Embedded Finance, Artificial Intelligence And Data Zown Connects Rent Rewards, AI Search and Home Finance On September 15, 2026, Toronto-based Canadian proptech Zown updated its homebuying app with Rent Rewards alongside AI property search, affordability estimates, mortgage pre-approval and transaction services. Zown advertises up to 8% back on rent, giving it a reason to start working with consumers years before many will be ready to buy a home. The 8% combines two potential rewards. Zown Money says Zown currently provides up to 4% cashback directly on rent, while an eligible credit card can add up to another 4% depending on the card's terms. At C$2,500 in monthly rent, Zown's 4% portion would equal C$100 a month or C$1,200 a year. If a renter also earned the full additional 4% through their card, the total could reach C$200 a month or C$2,400 a year before any card or payment-related costs. The Canadian iPhone app, developed by Zown Realty Inc., also lets users upload a lease and proof of rent, search properties through an AI assistant called Zoro, view estimated affordability, request showings with licensed agents, seek mortgage pre-approval, ...
September 15, 2026 | NCFA Market Activity | Digital Banking And BaaS, Cross Border Payments And FX, Competition And Market Structure Wise Adds Everyday Canadian Payments Without Becoming a Bank On September 14, 2026, UK-based global payments company Wise launched a Chequing Account in Canada with no monthly fee, Interac e-Transfer support, Canadian account details, pre-authorized debits, debit-card access and multi-currency features. The launch takes Wise further into everyday Canadian financial activity while keeping the cross-border tools that built its original customer base. The account is available to personal and business customers in Canada. Customers can hold more than 40 currencies, receive money using account details available across 22 currencies and send money to more than 70 countries. Wise converts currencies at the mid-market rate and charges a separate conversion fee that currently starts from 0.19%, depending on the currency and transaction. Interac Makes Wise More Useful Day to Day Canadian customers can send up to C$25,000 to a supported Interac email address and receive up to C$25,000 per day through Interac Autodeposit. Wise doesn't charge its own fee to receive Autodeposit payments, and the September launch removed the Wise fee for sending CAD to an Interac alias and adding ...
September 15, 2026 | NCFA Insight | Capital Markets And Market Infrastructure, Competition And Market Structure, Public Sector Policy And Industrial Strategy Nearly $500B In Commitments And A Proposed 6.4% Investment Tax Rate Today, on September 15, 2026, Canada's first Canada Investment Summit 2026 commitments reached nearly $500 billion across Canadian pension funds, insurers, banks, investment funds and a major AI infrastructure project. The September 14–15 summit in Toronto also brought together investors from nearly 30 countries managing more than $100 trillion in assets. The $500 billion isn't one pool of foreign equity. It combines institutional investment, bank financing and capital mobilization, investment funds and corporate infrastructure spending. A large share comes from Canadian institutions putting more capital to work at home while Ottawa tries to attract additional global investment. Canadian Institutions Supply Much Of The Capital Canadian pension funds, insurers and other institutional investors committed nearly $100 billion CPP Investments and Brookfield Asset Management launched the $50 billion Maple Fund for Canadian critical infrastructure and strategic industries PSP Investments plans another $25 billion of Canadian investment Ontario Teachers' Pension Plan committed an additional $10 billion by the end of 2027 Sun Life Financial committed $5 billion over five years ...
Sep 15, 2026 Market volatility remains a persistent factor in wealth management, driving investors to seek strategies that balance capital stability with strategic diversification. While physical property has traditionally served as a tangible asset class, direct ownership often carries operational friction and localized concentration risk. Real estate funds present a structured alternative, pooling capital to access larger-scale assets under professional administration. However, evaluating these vehicles requires a realistic understanding of their risk profiles, liquidity terms, fee structures, and underlying statutory frameworks. Structural Trade-offs: Scale, Risk, and Liquidity Managed real estate portfolios offer distinct operational benefits while introducing clear structural constraints: Institutional Execution: Funds leverage pooled capital to negotiate institutional pricing, access commercial or multi-unit residential developments, and spread risk across multiple properties within the fund's mandate. Inflation Pass-Through and Fee Drag: Real estate often mitigates inflation through index-linked commercial leases or periodic residential rent adjustments. However, net investor returns are directly impacted by fund fee structures—typically including a 1–2% annual management fee and potential performance hurdles—which must be weighed against the ongoing maintenance and transaction costs of direct ownership. Operational Relief: Professional managers oversee tenant administration, maintenance, and legal compliance, removing the daily burdens associated with direct landlord responsibilities. Realistic ...
September 14, 2026 | NCFA Insight | Cross Border Payments And FX, Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Competition And Market Structure New Delhi Declaration Advances Payment Interoperability On September 12, 2026, BRICS leaders met in New Delhi for the 18th BRICS Summit and backed further work connecting national payment and financial messaging systems. The New Delhi Declaration confirms that the BRICS Payment Task Force has been studying cross border interoperability and the use of local currencies for trade settlement and investment. BRICS hasn't yet created a common payment network or digital currency. However, payment interoperability has moved into an official technical workstream rather than remaining a series of proposals from individual members. The progression has been fairly quick. India proposed stronger payment and central bank digital currency connectivity in January. In August, Reserve Bank of India Governor Sanjay Malhotra confirmed that members were discussing links between fast payment systems and central bank digital currencies. The September declaration gives the Payment Task Force a formal basis to continue that work across the bloc. The commercial backdrop has also changed significantly since we last covered the 2023 BRICS summit. The group has expanded, supply chains have been ...
September 14, 2026 | NCFA Insight | Competition And Market Structure, Regulation And Policy, Capital Markets Infrastructure And Funding Routledge Speech Puts Growth and Competition Higher on OSFI Agenda On September 11, 2026, Superintendent Peter Routledge delivered a speech at the Economic Club of Canada, explaining how the Office of the Superintendent of Financial Institutions (OSFI) is refining its risk appetite. Financial resilience remains central, but OSFI is giving more weight to economic growth and competition when it decides whether a regulatory requirement is proportionate to the risk. For financial technology firms, smaller banks, federal credit unions and prospective entrants, the commercial question is whether those decisions make Canada's regulated financial market easier to enter and compete in. Some fintechs may eventually seek a federal bank, trust or loan company structure. Others need regulated partners that can support new lending, payments or financial products without the economics forcing every partnership toward Canada's largest institutions. OSFI is already changing parts of that equation. New entrants have a more structured approval process, selected capital requirements are being recalibrated and unnecessary supervisory material is being removed. The value to the market will depend on what happens to entry costs, operating economics and the ...
September 14, 2026 | NCFA Market Activity | Capital Markets Infrastructure And Funding, Digital Assets Blockchain And Tokenization, Artificial Intelligence And Data Institutional Investors Back Tokenized Market Data On September 14, 2026, Paris-baesed digital asset firm Kaiko raised US$110 million in a Series B extension led by S&P Global. RBC joined BNP Paribas, Nasdaq Ventures, Bpifrance, Broadridge, Coinbase Ventures, DRW Venture Capital, Canton Foundation, Stellar and Susquehanna Private Equity Investments. Existing shareholders Anthemis, Point Nine and Revaia also participated. Kaiko plans to invest the capital in its market data business and services for onchain capital markets. Its coverage spans more than 150 exchanges and protocols, with data used for pricing, trading, valuation, risk, surveillance and benchmarks. S&P Global, RBC, Nasdaq, BNP Paribas and Broadridge bring something beyond capital. They operate businesses that depend on reliable prices, benchmarks, market data and institutional distribution. Their investment gives Kaiko deeper relationships with firms that could also become customers, partners or distribution channels as tokenized securities and digital assets enter more institutional products. S&P Backs Kaiko After Launching 4,000+ Indices S&P Global was already working with Kaiko before leading the round. On September 1, S&P Dow Jones Indices and Kaiko launched the S&P Kaiko ...
Sep 14, 2026 Industrial machinery is essential in the manufacturing, construction, processing, agriculture, energy production, and other industries. Unexpected machine failures can have more than repair costs. Production can be halted, deadlines can be missed, workers can face safety hazards, and businesses can suffer financial losses. By knowing the common causes of machinery failure, operators and maintenance staff can identify problems early and take preventive action. Industrial machinery failure can have many causes. Why Industrial Machinery Fails By determining the root cause, businesses can avoid the same issue, minimize downtime, and extend the useful life of valuable industrial equipment. Here are 10 of the most common reasons for industrial machinery failure. Poor maintenance One of the biggest causes of equipment failure is poor maintenance. A machine has many moving parts and interdependent components that must be inspected, cleaned, adjusted, and serviced regularly. Small issues can turn into big ones if they aren't addressed during routine maintenance. A preventive maintenance schedule can help to detect worn components and other issues before they lead to unexpected failures. Inadequate lubrication Moving parts need proper lubrication to minimize friction and heat. Insufficient lubrication, improper lubricants, or not lubricating parts as recommended can cause faster ...
Sep 5, 2026 | Last Updated Sep 14, 2026 | NCFA Fintech Whisperer | Payments Infrastructure And Money Movement, Digital Assets Blockchain And Tokenization, Digital Identity And Trust, Cybersecurity Fraud And Financial Crime, Digital Banking And BaaS, Capital Markets Infrastructure And Funding, Artificial Intelligence And Data, Cross Border Payments And FX, Wealthtech Investing And Trading, Embedded Finance, Insurance And Insurtech, Lending Consumer Credit And BNPL, Open Banking Open Finance And Data Sharing, Risk Compliance And Regtech, Treasury Liquidity And Cash Management, Regulation And Policy, Data Privacy And Governance This live weekly NCFA intelligence page tracks financial technology developments that significantly affect how fintechs build, sell, raise capital, and operate under scrutiny. Coverage prioritizes Canada and includes global events that directly influence competitive conditions, market access, and execution realities across fintech sectors. This page will be updated throughout the week with market movers in a live format and then each week we'll close the prior week's contents in prep for the upcoming week, and continue on a rolling basis. (Missed prior week's Fintech Whisperer? (December 6-12, 2025, December 13-19, 2025, January 1-9, 2026, January 10-16, 2026, January 17-23, 2026, January 24-30, 2026, January 31-February 6, 2026, February 7-13, 2026, February 14-20, 2026, ...
September 11, 2026 | NCFA Regulatory Insight | Artificial Intelligence And Data, Regulation And Policy, Risk Compliance And Regtech AI Literacy, Transparency and Agent Governance On September 9, 2026, the Government of Canada launched a National AI Literacy Initiative with the Alberta Machine Intelligence Institute. The $13 million partnership is expected to reach up to 1 million post secondary students and more than 50,000 K to 12 educators, alongside free learning for workers and other Canadians. The program sits under Canada's AI for All strategy and focuses on helping people understand AI, use it responsibly and recognize risks such as bias, misinformation and privacy loss. Ottawa is working on the governance side at the same time. Its AI transparency consultation remains open until September 23 and asks whether Canada needs stronger ways to identify AI generated content, tell people when they are interacting with AI, explain system capabilities, track serious incidents and record what AI agents actually do. The consultation paper says 19.2% of Canadian companies used AI to produce goods or deliver services in the second quarter of 2026, up from 12.2% a year earlier and three times the 2024 level. The federal government has already been working through ...
