Driving Crypto Innovation Through Top Engineering Talent in Canada
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
Andrew Kriegler to lead Canada’s new SRO once formed (IIROC and MFDA)
CSA | Jun 27, 2022
Vancouver and Toronto – The Canadian Securities Administrators (CSA) announced today that the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) have approved Andrew J. Kriegler as Chief Executive Officer (CEO) of the new self-regulatory organization (SRO) when it is formed.
Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers:
The appointment of a CEO is an important milestone in the creation of the New SRO. Mr. Kriegler can now work with the boards and staff of each of the MFDA and IIROC to ensure a smooth transition that is responsive to the interests of their stakeholders.
See: IIROC to continue Client-Focused Reforms review with focus on KYC and suitability
As announced in 2021, the New SRO will consolidate and enhance the functions of IIROC and the MFDA. In addition, a new investor protection fund (IPF) will consolidate the Canadian Investor Protection Fund and the MFDA Investor Protection Corporation into a single fund that will be independent from the new SRO.
Mr. Kriegler, whose appointment was approved by the boards of the existing SROs, has led IIROC since 2014. Before joining IIROC, he served as Deputy Superintendent of the Office of the Superintendent of Financial Institutions, where he was responsible for supervision of Canada’s federally regulated financial institutions. He also has 25 years of experience in the private sector including roles at a Canadian financial institution and at an international credit rating agency. Mr. Kriegler’s full bio can be found here.
I am honoured to have been selected by the Special Joint Committee and approved by the Boards of both SROs to lead this new organization. The CSA has led a thoughtful and deliberate consultation on the appropriate framework for self-regulation. This work is important to Canadians and their financial futures. I look forward to working with the CSA and my colleagues at the MFDA and IIROC to ensure a smooth transition and a New SRO that will benefit all stakeholders.
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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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Ripple Opens Its First Canadian Office, A Key Engineering Hub
Ripple | Jun 22, 2022
Driving Crypto Innovation Through Top Engineering Talent in Canada
Today we announced the opening of our new office in Toronto that will serve as a key engineering hub. The new office will be our first in Canada, supporting our continued growth in North America and beyond. We plan to initially hire 50 engineers in Toronto with the goal to expand to hundreds of blockchain software engineers including applied machine learning scientists, data scientists, and product managers.
Brad Garlinghouse, CEO of Ripple:
- Crypto and blockchain present an incredible opportunity for engineers to tackle difficult problems, with the potential for these solutions to impact the movement of value around the world.
See: Ripple is buying back shares from investors (at a 50% profit in 2 years)
- While others in the industry have announced layoffs and hiring freezes, our key priority remains bringing on world class talent that will help us innovate and serve our customers for years to come. In the past year alone, we’ve opened new offices in key cities including Miami and Dublin and plan to hire hundreds of people globally in 2022.
- The opening of the Toronto office further solidifies our commitment to a region that is already a prominent tech hub. We will tap into the local talent pool and recruit top engineers to foster crypto innovation in Toronto.
“Nearly every financial institution is coming up with its crypto strategy to take advantage of this technology that will underpin our future global financial systems. Crypto is one of the most thrilling industries to work in, so it’s no surprise that talent is leaving tech incumbents and traditional finance to enter this space. We are continuing to scale and invest in our business by expanding our presence globally with our first office in Toronto.”
See: Plaid Officially Opens it’s Canadian Office and Announces RBC Data Sharing Agreement
Devraj Varadhan, SVP of Engineering, Ripple:
- We are excited to tap into Toronto’s technical talent pool and add builders to address the unmet customer needs on behalf of global customers – our teams here will play a key role in driving Ripple’s innovations, ranging from blockchain protocol development and decentralized applications to machine learning and payment solutions.
- We have strong ties to the Toronto community through our University Blockchain Research Initiative (UBRI) and in working with top-tier universities and colleges such as the University of Waterloo and Toronto Metropolitan University. Together with UBRI supporting leading research in several key areas of blockchain and crypto technology, we can provide students with opportunities to acquire strong technical skills.
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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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US FTX Crypto Exchange Acquires Alberta-based Bitvo and Plans to Officially Launch in Canada
FTX | Release | Jun 17, 2022
The acquisition of Bitvo, Inc. marks another step in FTX's global expansion of products and services
CALGARY, Alberta, June 17, 2022 /CNW/ -- FTX Trading Limited ("FTX"), a leading global crypto-asset trading platform, today announced that it has entered into an agreement to acquire Bitvo, Inc. ("Bitvo" or "the Company"), a Canadian crypto asset trading platform, registered as a restricted dealer under the securities laws of all provinces and territories in Canada. The acquisition marks the latest licence acquisition in FTX's mission to provide its industry-leading products and services to its global customers in a regulated fashion. The acquisition is expected to close in the third quarter of 2022, subject to regulatory approval and customary closing conditions.
See: Alberta, The untold history of innovation from Canada’s badlands – Part 1
Bitvo is a crypto asset trading platform offering Canadians a secure and easy way to buy, sell and trade crypto assets. In April 2022, the Company became the first Alberta-based crypto asset trading platform to register as a restricted dealer, allowing it to offer crypto asset trading services across all provinces and territories in Canada. Bitvo is also registered with FINTRAC as a money services business in the virtual asset service provider category.
Sam Bankman-Fried, CEO of FTX, commented:
We are delighted to enter the Canadian marketplace and continue to expand FTX's global reach. Our expansion into Canada is another step in proactively working with cryptocurrency regulators in different geographies across the globe.
Following the completion of the acquisition, Bitvo is expected to be integrated into the FTX global team serving the Canadian market in a variety of capacities.
See: a16z Releases 2022 State of Crypto Report: 5 Key Takeaways
Pamela Draper, CEO of Bitvo said:
Canada has shown a growing interest in digital asset trading, and we're thrilled to help provide entry into one of the leading regulated crypto asset trading platforms in the world to the Canadian cryptocurrency community. We look forward to transforming Canadian's access to the digital asset ecosystem as part of FTX.
Continue to view original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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2 Years Later Robinhood Agrees to Acquire Crypto App Ziglu
CNBC Crypto-decoded | Ryan Brown | Apr 19, 2022
Robinhood said Tuesday it has agreed to buy Ziglu, a London-based fintech app that allows users to trade bitcoin and several other cryptocurrencies. The acquisition will help in its expansion plans in the U.K. and Europe, the company said.
The announcement comes nearly two years after Robinhood halted plans to launch in the U.K. At the time, the company said it was prioritizing its business at home over international expansion.
Shares of Robinhood climbed more than 5% Tuesday.
See: Robinhood’s Luster Stained Again With a Record $70 Million Fine
The deal could provide a crucial boost to growth prospects for Robinhood, whose performance has weakened since the GameStop trading frenzy last year.
Vlad Tenev, Robinhood’s CEO and co-founder, said the purchase of Ziglu “will help us accelerate our global expansion efforts. Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe,” Tenev said in a blog post.
Founded in 2018, Ziglu allows users to make payments, invest in a range of cryptocurrencies and earn interest on holdings of bitcoin and British pounds sterling.
The company has raised a total of £17.5 million ($22.8 million) to date, including £13.4 million from retail investors through the equity crowdfunding platform Seedrs. It was last valued at £85 million.
See: Wealthsimple exits UK market (for now) – Too many investment apps in the UK?
It is one of the few crypto concerns that has managed to register with the U.K.’s Financial Conduct Authority. Registration is a key requirement for digital asset firms looking to operate in the country.
The regulator recently extended a deadline for firms to make the cut after numerous companies withdrew their applications.
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View the original announcement on Robinhood's website --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Neo Financial Launches a Wealth Management Platform for Retail Investors – Neo Invest
NEO Financial | Release | Apr 6, 2022
WINNIPEG, Manitoba & CALGARY, Alberta--(BUSINESS WIRE)--Neo Financial announced today that they are expanding their product line from spending, savings, and rewards, to reimagining investing with the addition of Neo Invest. Neo Invest will offer Canadians the first fully digital, actively managed investment experience that provides access to sophisticated investment solutions that the average retail investor would not typically have access to.
With many Canadians reported to not have enough savings to live comfortably throughout their retirement, creating opportunities for individuals to grow their wealth that are simple and accessible has become increasingly desirable. Neo Invest provides access to private wealth management, starting with as little as a $1 investment.
See: Tink Survey Report 2021: Open banking spending, investments and use cases
Banks and wealth management services in Canada often require individuals to have a net worth greater than $1M for these services, even though in 2019 the median annual income of Canadians was $37,800.
“We’re launching Neo Invest to democratize investing for all Canadians with a product that is simple to use and provides access to sophisticated investment solutions that most wealth managers don’t offer,” says Andrew Chau, Co-Founder and CEO of Neo Financial. “Historically, Canadians only have the option to invest through antiquated big bank products like mutual funds with high and hidden fees, online robo advisors offering basic products that only match the market and its volatility, and expensive private wealth managers that are not accessible to the average investor. With Neo Invest, we’re unlocking better investment opportunities and making investing possible for everyone.”
See: Fintech Card Space is Growing: Brim Financial, Float, Caary Capital, Jeeves, Neo Financial
Through Neo Invests partnership with OneVest, customers will get access to:
- Actively managed and institutional-style portfolios, managed by professional money managers that take advantage of changing market conditions with the objective of better returns with lower risk
- Access to alternative investments such as cryptocurrencies, real estate, infrastructure, hedge fund-like strategies, and more
- Ability to start investing with as little as $1 and get a complete, fully diversified portfolio
- Customized portfolios that are built and managed to a user’s unique goals, timelines, and risk comfort
- Automated investing that allows users to automatically schedule investments and direct deposits from other bank accounts
Neo Invest is available through the Neo website and mobile app, and can be funded through Neo’s recently relaunched Neo Money account, an everyday account that pays 1.3%* interest, or through direct deposit from another financial institution.
View the original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Ontario Announces First-ever Dedicated CEO and Nominates Capital Markets Tribunal Chief Adjudicator
Ministry of Finance Ontario | Bulletin | Mar 24, 2022
As part of the government’s plan to modernize Ontario’s capital markets regulation, the government has selected David Grant Vingoe as the Ontario Securities Commission’s (OSC) first-ever, dedicated Chief Executive Officer. The government has also nominated Timothy Moseley as the first-ever Chief Adjudicator for the new Capital Markets Tribunal (CMT), subject to review by the Standing Committee on Government Agencies. Both positions will take effect upon proclamation of the Securities Commission Act, 2021.
These appointees’ expertise will serve Ontario well by fostering strong, fair and efficient capital markets that drive innovation and competitiveness while continuing to protect investors.
See: Investment Industry Association and Law firm Davis give “thumbs down” to new capital markets act
This new governance structure was recommended by the Capital Markets Modernization Taskforce to help transform the regulatory landscape for the sector. Separating the adjudicative and regulatory functions of the OSC aligns with corporate governance best practices and strengthens its role as an innovative and globally competitive markets regulator.
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OSC | Mar 25, 2022
Grant Vingoe comments on his new role as OSC’s dedicated CEO
TORONTO – The following statement was issued today by Grant Vingoe in response to his selection by the Ontario Ministry of Finance as Chief Executive Officer of the Ontario Securities Commission (OSC):
See: C.D. Howe says Ontario should pause the new Capital Markets Act to first modernize the existing Securities Act for current times
“I am honoured to lead the OSC as its first CEO appointed in anticipation of the proclamation of the Securities Commission Act,” said Mr. Vingoe. “The OSC and its talented workforce play a critical role in the economic health of our province and the protection of investors, and I am excited about our future.”
“My role in our new governance structure will allow for an even stronger focus on our policy and regulatory work to ensure Ontario’s capital markets are modern, competitive and deliver strong investor protection,” Mr. Vingoe added. “Our regulatory agenda continues to evolve, as we see new technologies and innovations disrupting the financial services industry and more retail investors than ever accessing our markets in new ways. As CEO, I am committed to ensuring that our key investor protection reforms achieve their promise while fostering conditions enabling businesses to create growth and prosperity in our province.”
In this newly created role, Mr. Vingoe will continue to serve on the OSC’s Board of Directors.
Mr. Vingoe initially joined the OSC in 2015 as a Vice-Chair, following many years of cross-border corporate and securities legal practice. In April 2020, he was appointed Chair and CEO of the OSC.
See: OSCs Investor Advisor Panel calls for dramatic shift in approach to regulatory oversight
The Ontario Ministry of Finance has also nominated the OSC’s current Vice-Chair Tim Moseley as Chief Adjudicator of the new Capital Markets Tribunal in anticipation of the proclamation of the Securities Commission Act, 2021, subject to review by the Standing Committee on Government Agencies. Mr. Moseley joined the Commission as a part-time Member in 2015 and became Vice-Chair in 2017.
Continue to view the original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Binance agrees to end operations in Ontario; OSC Publishes Binance’s Undertaking Statement
OSC | March 17. 2022 | Last Updated: Oct 28, 2026
TORONTO – The Ontario Securities Commission (OSC) today published an undertaking given by Binance Holdings Limited and Binance Canada Capital Markets Inc. (together, Binance), which holds these entities accountable for taking steps to address concerns arising from recent events.
In 2021, Binance publicly announced its intention to withdraw its services from Ontario. However, on December 29, 2021, Binance falsely notified investors that it was allowed to continue its operations in Ontario. These events resulted in the OSC issuing an announcement on December 30, 2021 to confirm that no entity in the Binance group of companies holds any form of securities registration in Ontario. This continues to be the case.
See: Binance hires ex-regulators and incorporates in Alberta to charter compliance course in Canada
Further, Binance subsequently confirmed to OSC Staff and advised Ontario investors that trading restrictions were in place for Ontario accounts on the Binance platform, whereas at the time Ontario investors were in fact able to continue to trade.
In the undertaking, Binance confirms that activities involving Ontario residents have ceased, apart from certain permitted actions to protect investors. Additionally, Binance commits that it will continue to prevent any activities involving Ontario residents, apart from these permitted actions, and to provide fee waivers and offer fee reimbursements to certain Ontario users.
Binance undertakes to maintain these restrictions until further notice to Binance by the OSC.
This undertaking represents a legally enforceable commitment by Binance to the OSC. The OSC reserves the right to take enforcement action against Binance for any past, present or future breaches of Ontario securities law not arising from the events described in the undertaking.
Oct 28, 2026 Update: The Ontario undertaking became an important part of the regulatory dispute that later reached the Supreme Court of Canada. See Binance Left Canada but the Fight Reached Supreme Court for the full timeline and current implications.
On March 29, 2021, the OSC communicated to crypto asset trading platforms that they must contact Staff to initiate the registration process, or face enforcement action. The OSC continues to work with firms (for which it is Principal Regulator) that initiated compliance discussions with Staff to assess the appropriate path to registration in Ontario.
See: OSC to Binance Investors ‘Not So Fast’: Binance Canada Receives License to Operate as Money Service Business
To date, six crypto asset trading platforms are registered in Ontario. These platforms are listed on the Registered Crypto Asset Trading Platforms page on the OSC’s website.
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Bloomberg | Mar 17, 2022
The Ontario Securities Commission says cryptocurrency exchange Binance has agreed to stop facilitating trades for Ontario account holders, after making similar promises last year but continuing to operate in the country.
The new promise was made in an undertaking with the regulator on Wednesday and is legally enforceable.
The OSC says Binance was still allowing Ontario investors to continue to trade and had advertised the service was still available in tweets.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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