Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Press Releases
Balance Commits to Alberta, Relocates to Calgary
Release | Jan 26, 2024
Image: Unsplash/Chong Wei
Balance, a leading digital asset custodian, announces its relocation to Calgary, Alberta
This strategic move underscores the growing appeal of Alberta's progressive regulatory framework for digital asset companies, contrasting with the more conservative approach in Ontario. The decision by Balance aligns with Alberta's efforts to position itself as a hub for technological innovation and investment. This endorsement for Alberta's business-friendly policies also highlights a broader trend in the tech industry towards regions offering more supportive environments for growth and innovation.
See: Balance Applies for A Special Purpose Trust
- Balance, having registered in Alberta since 2021, initially set up its operations in Edmonton. The company then moved its base of operations to Calgary, further deepening its roots in the province.
- In a major step towards expansion, Balance filed an application in August 2023 to incorporate as a trust with Alberta's Treasury Board and Finance.
- Turning the Calgary office into its official headquarters is a testament to Balance's ongoing commitment to Alberta and the relocation is anticipated to foster job creationand bolster the province's status as an investment and innovation hub.
George Bordianu, CEO of Balance:
"Alberta's forward-thinking regulatory approach and supportive environment for technology innovation played a key role in our decision to relocate."
See: Balance celebrates turning five and surpasses $500M of assets under custody
Rick Christiaanse, the CEO of Invest Alberta:
“We extend a warm welcome to Balance as the company relocates its office and team to Calgary, Alberta. Our tech and business communities have created a supportive environment for new companies to thrive, which is a unique advantage that Alberta offers to companies worldwide and across Canada.”
Nate Glubish, Alberta’s Minister of Technology and Innovation:
“We have made Alberta the best place to work in Canada to work in tech and have a tech company. This move by Balance just demonstrates our growing reputation as an international hub of investment and innovation.”
Alberta's Financial Innovation Act (Bill 13)
Following the news of Balance's relocation, Alberta's commitment to fostering a fintech-friendly ecosystem is further reinforced by its Financial Innovation Act, also known as Bill 13.
See: Alberta, The untold history of innovation from Canada’s badlands – Part 1
- Bill 13 introduces a regulatory sandbox framework for financial services and fintech companies. The framework provides a controlled environment for testing innovative financial products and services without full regulatory compliance. By being the first in Canada to introduce such a framework, Alberta may attract more fintech companies and investments.
- Companies must meet certain criteria, including having a physical presence in Alberta and offering innovative financial products or services.
- Participants are allowed a two-year period for testing, subject to specific terms and conditions determined on a case-by-case basis.
Outlook
Balance's relocation to Alberta, coupled with the introduction of Bill 13, highlights the province's growing reputation as a favorable destination for fintech companies. This move by Balance could signal a broader trend among fintech and digital asset companies seeking regions with more favorable business climates.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Seedrs to Offer Investors Venture Capital Trusts
Venture Funding | Jan 22, 2024
Image by storyset on Freepik
Seedrs, Europe's leading private investing platform, has announced its plan to bring Venture Capital Trusts (VCTs) to a broader, more diverse investor base.
This initiative, starting with the ProVen VCTs managed by Beringea, marks a significant shift in the venture capital landscape, offering new opportunities for investors interested in high-growth companies.
What are VCTs
Since their inception in 1995, Venture Capital Trusts have been instrumental in establishing the UK as a hub for entrepreneurship and venture capital. VCTs are a closed-end fund created by the U.K. government in the 1990s to help direct investment into local private businesses.
With over £6 billion managed by VCTs, supporting more than 1,100 startups and scale-ups, these trusts have fueled success stories like Depop, Zoopla, and Quantexa. VCTs offer investors tax reliefs and potential for healthy returns, with the ten largest VCT managers delivering an average net asset value total return of 81.4% over the past decade.
Historically, VCTs have catered to an older demographic, with the average VCT investor being 56 years old. Seedrs aims to change this by opening up VCTs to younger and more diverse demographics. This aligns with Seedrs' mission to democratize venture capital, making it accessible to a wider range of investors. The ProVen VCTs, with over £330 million under management, offer a diversified portfolio across emerging technologies and established industries.
See: Seedrs Update: UK Equity Crowdfunder Raises Over US$100 Million Online Capital In February
Seedrs is making VCTs accessible to smaller investors, with a minimum investment threshold of just £500. This is a significant development as it opens up opportunities for a broader range of investors to participate in venture capital investments. Seedrs is not the first crowdfunding platform to offer VCTs. Crowdcube, in partnership with Octopus, also offers shares in VCTs with a similar minimum investment of £500.
Investors in VCTs can claim immediate tax relief of 30% up to £200,000 each year, along with tax relief on dividends and exemption from capital gains tax when shares are sold.
VCT structure, along with the SEIS and EIS schemes in the UK, are effective in encouraging investment in early-stage firms, a policy that could be beneficial if replicated in other countries like the US.
Key Differences of Venture Capital Funds in Canada vs UK VCTs
- Unlike VCTs in the UK, Canadian venture capital funds do not typically offer the same tax incentives, such as income tax relief and exemption from capital gains tax.
- Canadian funds may have different investment focuses compared to UK VCTs, often tailored to the Canadian market and its specific sectors of strength.
See: AI Metamorphosis in Venture Capital
- The regulatory environment in Canada is different from the UK, impacting how these funds are structured and operate.
Outlook
Seedrs' announcement is a sign of the changing times in venture capital and investment. For those in the NCFA Canada community, staying informed about these developments is key to capitalizing on the changing landscape of finance and entrepreneurship. It's important for investors to conduct thorough due diligence and consider consulting with financial advisors before investing in these funds.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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ASC Sanctions Devon Christopher Edwards & KB Crypto
Crypto Enforcement | Jan 22, 2024
Image by DilokaStudio on Freepik
ASC Sanctions Devon Christopher Edwards and KB Crypto Inc. for Securities Misconduct
CALGARY, AB, Jan. 16, 2024 - The Alberta Securities Commission (ASC) has recently taken decisive action against Devon Christopher Edwards and KB Crypto Inc. for violating Alberta's securities laws. The case, which has drawn significant attention in the financial community, highlights the ongoing efforts of regulatory bodies to maintain the integrity of the capital markets.
- Edwards and KB Crypto Inc. admitted to distributing securities without a prospectus and operating as a dealer without registration, contravening the Securities Act.
- From February 2021 to November 2022, they raised nearly US$450,000 from 75 investors through investment contracts. These contracts involved using investors' funds to purchase and trade in contracts for difference (CFDs), without filing a prospectus or relying on any exemptions.
See: Canadian Regulators Set Expectations for Crypto Asset Investment Funds: A Comprehensive Overview
- The ASC panel ordered Edwards to pay a $40,000 administrative penalty and $10,000 in costs. He is also required to resign from any director or officer positions in any issuer. For five years or until the penalty is fully paid, Edwards is barred from acting as a director or officer in any issuer, advising in securities and derivatives, and from trading or purchasing any security or derivative (with limited exceptions).
- The company is permanently prohibited from trading, purchasing, or advising in securities or derivatives. All trading or purchasing of its securities or derivatives must cease.
Conclusion
The Alberta Securities Commission's decisive action against Devon Christopher Edwards and KB Crypto Inc. underscores the importance of adhering to securities laws and the serious consequences of non-compliance. This case highlights the regulatory body's commitment to protecting investors and maintaining the integrity of the financial markets.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Minerva & Equifax Canada Partner on AML Solutions
Partnership | Release | Jan 17, 2024
Image by rawpixel.com on Freepik
Minerva Launches Channel Partner Program with Equifax Canada to Enhance AML Solutions
TORONTO, January 17, 2024 - Minerva, a trailblazer in AML technology, has announced the initiation of its channel partner program. This strategic development includes Equifax Canada, a global leader in data, analytics, and technology, as its inaugural partner. This collaboration is set to expand the accessibility and capabilities of Minerva’s AML compliance technology.
See: Financial Institutions and Regulators Alike are Showing Growing Interest in Fintech and Regtech Solutions.
Minerva, renowned for its proactive AML platform, is instrumental in identifying client risks from the initial onboarding stage through to exit, aiding top compliance teams in preempting financial crime. The company's clientele spans prominent financial organizations and enterprises across the US and Canada, including names like MOGO, SBI Canada Bank, and Coinbase.
The channel partner program is designed to provide partners and their customers with direct access to Minerva’s state-of-the-art AML risk assessment solutions. These solutions are crucial for ensuring compliance with evolving regulations and for proactive protection against financial crime. The program is tailored for organizations that aim to resell, cosell, integrate, or refer Minerva’s AML solutions, enhancing their customer relations and market presence.
Equifax Canada, the first partner in this program, is a powerhouse in providing unique data and analytics solutions, powered by advanced cloud technology. This partnership will enable Equifax Canada’s customers to leverage Minerva’s advanced AML solutions, furthering their commitment to combat financial crime.
See: OSC Publishes TestLab 2022 Report: Exploring Innovations in RegTech with Participate Solutions
Jennifer Arnold, co-founder and CEO of Minerva:
“After a year of meticulous planning and collaboration to provide best in class solutions for our customers, we have now formalized our partnership with Equifax Canada. Together, we are poised to deliver an unrivaled AML compliance and fraud protection offering. By coupling Equifax Canada’s robust customer relationships and fraud expertise with our sophisticated AML compliance solutions, Canadian businesses will now be even more empowered to thrive in a secure financial environment.”
About Minerva
Minerva stands as a RegTech leader, founded by AML industry experts, aimed at transforming AML compliance. The company’s proactive platform employs advanced deep learning models and neural networks to analyze data across multiple languages, aiding compliance teams in staying ahead of financial crime. Minerva’s platform is adept at creating detailed customer profiles and predictive risk analyses in real-time, making it a trusted partner for financial institutions seeking swift and accurate risk assessment results. For more information, visit gominerva.com.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Katipult’s Growth Surges in 2023 Raising $647M
Funding | Release | Jan 16, 2024
Image: Unsplash/Shane
Katipult's Innovative DealFlow Platform Spurs Significant Growth Raising $647M Capital in 2023
2023 was a year of robust growth for Katipult Technology Corp's (TSXV: FUND). Despite challenging economic conditions and a general slowdown in capital markets, Katipult DealFlow platform enabled a remarkable $647 million in capital raises.
- Enterprise customers raised 71% more capital year over year, from $318 million in 2022 to $545 million in 2023, highlighting the platform's effectiveness in utilizing various exemptions, such as Reg D offerings in the US and the new LIFE exemption in Canada.
- Further, there was a 55% increase in the total number of deals launched, coupled with a 10% rise in average deal value. This trend not only reflects the growing confidence in Katipult's platform but also suggests an optimistic outlook for capital markets activity as we move into 2024.
See: Fintech Fridays EP49: Managing Private Placements Has Never Been Easier
- Enterprise transactions grew 6.8%, reaching a total of 19,018 in 2023.
- The average transaction value for enterprise customers soared to $78K per transaction, a substantial leap from $48K in 2022.
Gord Breese, Katipult's CEO:
"Our platform continues to revolutionize the capital raising process, introducing modern workflows that benefit all stakeholders involved. This innovation leads to faster deal closings, reduced investor friction, and ultimately, more successful capital raising efforts."
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Award-winning Investment App, Webull, Expands to Canada
Investing | Release | Jan 8, 2024
Image by tonodiaz on Freepik
Webull's entry into the Canadian market is poised to revolutionize the investment landscape
Webull Corporation has expanded its brokerage services to Canada through Webull Securities (Canada) Ltd. This expansion allows Canadian residents to trade both Canadian and US-listed equities. Webull Canada secured its authorization in November 2023 and is seen as a significant move to provide low-cost trading solutions to Canadian investors. The platform's state-of-the-art app offers market data, tools, analytics, and education for free, which is a major draw for users.
See: Emerging Investors: Gen Z Canadians Take the Lead in Global Investment Trends
Michael Constantino, CEO of Webull Securities (Canada) Limited:
"Webull's state-of-the-art app, driven by world class technology, offers market data, tools, analytics, and education for free and brings a low-cost trading solution right to your fingertips. We already have tens of thousands of Canadian users leveraging market data and analytics alone, so we are proud to bring the award-winning brokerage services to them and look forward to expanding our user base in Canada."
Hey Canadian Investors, Get Ready for Webull!
Webull, the investment app that's been making waves globally, has just landed in Canada, and it's a big deal for all you savvy Gen Z and Gen X traders out there. With over 40 million downloads worldwide, Webull isn't just another trading platform; it's a revolution in your investment journey.
What's the Buzz About?
- Webull Canada is your new playground with over 10,000 stocks and ETFs. Whether you're into big names like Apple and Tesla or looking for something more niche, Webull's got your back.
- For those who love diving into data, Webull offers advanced charts and indicators that are super intuitive. It's like having a financial analyst in your pocket.
See: Global Competition Review: Key FDI Trends
- Get the lowdown on market trends with US Market Level 2 Quotes including Nasdaq Totalview (real-time insights). It's like having a crystal ball for the stock market, showing you the best bids and asks and even predicting opening and closing prices. This feature offers the best 50 levels of bids and asks, along with forecasted opening and closing price information, giving traders a significant edge.
- Webull's excellence in the investment field has not gone unnoticed. The platform has been recognized with several awards, including 'Best Brokerage App', 'Best Broker for Low-Cost Options Trading in 2022' and 'Best Investor Community in 2022'. In 2021, it was hailed as 'The Best Investment App', underscoring its commitment to providing top-notch services to its users.
So How Does Webull Compare with Wealthsimple
| Feature/Service | Webull | Wealthsimple |
|---|---|---|
| Target Audience | Active and experienced traders | Beginners and passive investors |
| Stocks & ETFs | Wide range, focusing on US and Canadian markets | Available, with a focus on simplicity |
| Trading Fees | Commission-free | Commission-free for stocks and ETFs |
| Account Minimums | No minimum balance required | No minimum for Trade; minimum for robo-advisor |
| Advanced Tools | Advanced charts, technical indicators | Basic tools on Trade; automated tools in robo-advisor |
| Market Data | Real-time data and Level 2 quotes | Basic real-time data |
| Mobile/Desktop App | Robust mobile app and desktop platform | User-friendly mobile app |
| Robo-Advisor | Not available | Available, with automated portfolio management |
| Crypto Trading | Not typically offered | Available |
| Additional Fees | Fees for advanced data, margin trading | Management fees for robo-advisor, currency conversion fees |
| Special Features | Suited for day trading and in-depth analysis | Automated rebalancing, dividend reinvesting in robo-advisor |
In a nutshell, Webull targets more active and experienced traders with its advanced tools, while Wealthsimple caters to both beginners (with Wealthsimple Trade) and those seeking automated investment management (with its robo-advisor service).
See: Wealthsimple Launches Private Equity Fund for Retail Investors
Webull is more focused on active trading, whereas Wealthsimple offers a broader range of services including automated investing and crypto trading. Both offer commission-free stock and ETF trading, but Wealthsimple's robo-advisor services come with management fees.
Conclusion
The launch of Webull in Canada is a game-changer for Canadian investors. With its extensive range of stocks and ETFs, advanced trading tools, and a track record of global success, Webull is set to become a key player in the Canadian investment scene. Canadian investors now have access to a platform that not only offers a wide range of investment options but also provides the tools and resources necessary for informed trading decisions.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Former Citi Executives Launch Bitcoin Securities Startup
Innovation | Release | Jan 4, 2024
Image by valeria_aksakova on Freepik
A team of ex-Citigroup executives has unveiled a startup, Receipts Depositary Corp. (RDC), offering Bitcoin-backed securities, uniquely structured to bypass U.S. SEC approval requirements.
Receipts Depositary Corp. (RDC), founded by former Citigroup executives, has introduced an innovative financial product in the cryptocurrency space: Bitcoin-backed securities known as Bitcoin Depositary Receipts (BTC DRs). These securities are unique in their structure and regulatory approach, particularly in how they bypass the need for approval from the U.S. Securities and Exchange Commission (SEC).
RDC's Bitcoin Depositary Receipts (BTC DRs)
RDC has announced the launch of the first-ever Bitcoin depositary receipt, specifically targeting Qualified Institutional Buyers (QIBs). The issuance of these BTC DRs is expected to begin in the coming weeks.
BTC DRs are structured similarly to American Depositary Receipts (ADRs) and operate within the U.S.-regulated market infrastructure. They are cleared through The Depository Trust Company (DTC) and have been assigned a CUSIP number and an ISIN, integrating them into the established financial system.
See: SEC Progresses Talks With US Bitcoin ETF Issuers
The BTC DRs will be securely held in a bankruptcy remote structure, with Anchorage Digital Bank National Association, a federally chartered digital asset bank, providing custody. This ensures that the Bitcoin represented by the BTC DRs is secure and cannot be lent, re-hypothecated, or pledged.
The company is positioned to create clearinghouse-eligible securities for other alternative assets as well, indicating a broader application of their model beyond Bitcoin.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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