Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Web3, Decentralization, DAOs
Understanding the Impact of Blockchain on Banking: Cross-Border Payments
OMFIF | May 22, 2023
In an evolving digital landscape, blockchain technology is poised to significantly enhance banking operations, particularly cross-border payments. Institutions are actively exploring potential applications, despite facing regulatory obstacles.
- This insight is presented in a report from OMFIF and CCBU, which explores the impact of blockchain and distributed ledger technology (DLT) on the business models of financial institutions. The study consults a range of experts from various sectors, such as fintech and blockchain industry, while reviewing regulatory and policy aspects of financial technology.
See: CB Insights report features over 50 sectors Blockchain is transforming (beyond just banking)
- Yet, regulation of blockchain in financial services remains a challenge, necessitating major advancements at both domestic and global levels.
- The shift from centralized to decentralized economic activities, spurred by blockchain and DLT, underlines the diverse regulatory and legal risks that could arise based on different use cases.
- Future trends in blockchain technology in banking point to payment solutions as the most likely dominant application.
- However, banks must confront hurdles like regulatory compliance and scalability.
- As blockchain evolves, it continues to present fresh features and opportunities, thereby promising a transformative impact on the banking sector.
Continue to the full article --> here
Download the 32 page PDF report --> now
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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MiCA is Likely Coming Into Force July 2023: Key Takeaways
Herbert Smith Freehills | May 18, 2023
MiCA is likely to enter into force in July 2023 following publication in the Official Journal, with some provisions applying a year later and the rest from January 2025.
- Timing: If, as is widely expected, MiCA enters into force in July 2023:
- Provisions relating to asset reference tokens (ARTs) and e-money tokens (EMTs) will apply 12 months later, in July 2024.
- Other provisions will apply 18 months after entry into force, in January 2025.
- Transitional and grandfathering arrangements will be available in some circumstances e.g unless a Member State chooses not to apply the transitional regime or chooses to reduce its duration, crypto-asset service providers (CASPs) providing services before MiCA becomes applicable should be able to continue to do so for a further 18 months after MiCA starts to apply or until they become authorised. Transitional measures are also available to operators of trading platforms and issuers of ARTs.
See: EU agrees on landmark MiCA rules putting pressure on UK and US to regulation crypto assets too
- What will MiCA mean for crypto businesses?
- MiCA’s impact on businesses which are not currently authorised will be significant, although the onerousness of the obligations under MiCA will depend on the types of cryptoasset being issued and activities being carried on.
- Although grandfathering and transitional regimes will be available, firms must not underestimate the time it will take to implement MiCA, from assessing MiCA’s scope, to applying for authorisation and implementing MiCA requirements into their systems and processes.
- Authorisation and notification
- Compliance framework
- Updating paperwork for written agreements, client terms, white paers
- Sustainability
- Liability
- What does MiCA mean for non-EU businesses?
- MiCA, the Markets in Crypto-Assets Regulation, applies to entities involved in issuing, offering to the public, trading cryptoassets, or providing related services within the European Union (EU). Non-EU businesses planning to engage in cryptoassets activities within the EU or with EU customers need to assess how MiCA's territorial scope will affect their current and future business models.
- They should consider whether seeking authorization under MiCA is necessary and how promotions or advertisements accessible to EU customers may be regarded as providing services or conducting crypto activities within the EU.
- Additionally, businesses should determine if they can rely on MiCA's reverse solicitation provisions.
- Businesses considering establishing operations in the EU should take note that MiCA requires Crypto-Asset Service Providers (CASPs) and Asset-Reference Token (ART) issuers to have a registered office within the EU.
See: MiCAR: EU Crypto Regulation in the Making
- MiCA 2.0, a potential future version of the Markets in Crypto-Assets Regulation, has been proposed by some entities even before MiCA 1.0 has come into effect. The European Central Bank has advocated for MiCA 2.0 to expand its coverage to include cryptoassets staking and lending, decentralized finance (DeFi), and assets like Bitcoin that lack a clearly identifiable issuer.
- MiCA already incorporates review mechanisms to assess its application. The European Commission will release an interim report on MiCA's implementation within two years of its enforcement (around mid-2025).
- Additionally, a final report is expected within four years of MiCA coming into effect (around mid-2027). These reports may be accompanied by legislative proposals, indicating potential adjustments or amendments to the regulation.
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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Apple’s Foray into Metaverse: Anticipation of ‘xrOS’ Unveil at WWD
Entrepreneur | Emily Rella | May 16, 2023
Image: Freepik/master1305
Maybe the Metaverse isn't dead after all.
- Apple's Potential Entry into the Metaverse:
- Despite being a technological titan, Apple has remained surprisingly absent from the metaverse and mixed reality space - areas where fellow tech giants like Meta have already made significant strides.
- However, the discovery of a new trademark for "xrOS" hints that Apple may soon reveal its own plans for this burgeoning virtual landscape.
- "xrOS" - A New Mixed-Reality Operating System:
- The registered trademark "xrOS" seems to mark Apple's first step into mixed-reality software.
- The trademark, filed in New Zealand, indicates a system designed to work with both virtual and augmented realities, offering a potential look into Apple's vision for a blended physical-digital world.
- The styling of the logo appears consistent with Apple's existing OS trademarks, suggesting a seamless integration with Apple's ecosystem.
FFCON23 Video: Building the Metaverse: Challenges, Benefits, and Impact on Real-Life Industries
- Rumors and Speculations :
- With Apple's Worldwide Developer Conference (WWDC) set to start in June, there is widespread speculation that "xrOS" will be officially announced during this event. This expectation is fueled by reports of positive initial feedback from industry insiders, such as Meta's VR co-founder Palmer Luckey, who claimed to have tested Apple's VR set and praised it highly.
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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Ledn Receives VASP Regulatory Approval in the Cayman Islands
Ledn Newswire | May 9 2023
Ledn Inc. ("Ledn"), a global financial services provider for digital assets, has announced that it has received registration and regulatory approval as a Virtual Asset Service Provider (VASP) from the Cayman Islands Monetary Authority (CIMA).
- Ledn, a leading financial technology company, recently announced its regulatory approval in a respected international financial services hub.
- Kenneth Ng, Ledn's Chief Legal Officer, highlighted the company's dedication to serving clients' needs while adhering to the highest regulatory standards. Ledn sees this approval as a crucial milestone as they continue expanding globally and introducing innovative products and services to their growing client base.
See: Ledn to acquire Arxnovum Investments, a fully-registered, Canadian digital asset investment manager
- Ledn offers savings accounts and loans to clients in over 130 countries, with a focus on providing digital asset-based products that help individuals build long-term wealth. The company, which offers a range of digital asset financial products and services, including Bitcoin-backed loans and digital asset savings accounts, will soon service its global client base through its regulated VASP subsidiary under the supervision of CIMA.
- For more information about Ledn and its services, visit their website at www.ledn.io.
Adam Reeds, Ledn, co-founder and CEO:
We are very pleased to have obtained regulatory approval in a well-respected international financial services hub, which is further testament to what we have been carefully building at Ledn, especially during a period when many of our industry peers are faltering.
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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Kraken, Web3 Foundation, Republic Crypto to Testify in Front of House Subcommittee on Digital Assets Financial Inclusion and Regulatory Gaps
Crowdfund Insider | | May 8, 2023
Last week, the House Subcommittee on Digital Assets, Financial Technology, and Inclusion announced a joint hearing with the Agriculture Subcommittee on digital assets, titled "The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets."
- The hearing, scheduled for Wednesday, May 10, 2023, at 9:30 AM ET, will feature notable witnesses and will be live-streamed on the Committee website.
- The House Subcommittee hearing on digital assets will feature witnesses from Republic Crypto, Kraken Digital Asset Exchange, and Web3 Foundation, among others.
See: Industry Thinks Feds Are Trying to Kill Crypto, White House Denies It
- The discussion aims to address the inconsistent classification of digital assets as securities or commodities by the SEC and CFTC, which has created regulatory uncertainty.
- The hearing memo highlights the Howey Test, which is used to determine if an asset is a security, and notes contradictions between federal and state regulators' interpretations.
- The current legislation related to the hearing, the Resolution Expressing Support for Blockchain Technology and Digital Assets, acknowledges the need for Congress to create a consistent regulatory framework for digital assets and determine oversight rules.
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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Wave 5: 6 Startups Join Mastercard’s Digital Asset Startup Program
Mastercard | Apr 28, 2023
Image: Mastercard Startup Crypto program
Six fintech companies from across the globe are joining the Mastercard Start Path Digital Assets program to scale innovative solutions and build the future of commerce
- Mastercard is committed to advancing blockchain technology and providing secure and trustworthy solutions for commerce. They recognize the growing importance of digital assets and are actively exploring ways to leverage blockchain to solve real-world problems.
See:
Signals by Mastercard: Trends to Watch in the Future of Payments
Mastercard is Navigating Global Trust Frameworks and Building a Global Digital Identity Network
Mastercard Launches ‘Crypto Secure’ Powered by CipherTrace to Combat Fraud-prone Crypto Exchanges
- The Start Path Digital Assets program offers selected startups tailored training, access to Mastercard's resources and expertise, and opportunities for technical collaboration. Following 6 chosen startups have already secured seed or Series A and demonstrated product-market fit in digital assets, cryptocurrencies, blockchain value-added services, and the metaverse, and have already secured seed or Series A funding.
- Axelar (Canada) delivers secure interchain communication for developers to interact with any asset or application on any chain with one click.
- Cheeze, Inc. (U.S.) uses the power of blockchain to allow a new way for brands to license user-generated content and help creators unlock additional revenue streams and rewards.
- Coala Pay (U.S.) tokenizes grant proposals, making it easier than ever to find, fund and track the impact of grassroots aid activities around the world.
- Qonbay.io (China) provides vendors and creators with tools to create their web3-based customer loyalty schemes that enhance scalability and ease navigation between both traditional and virtual worlds.
- RociFi Labs (Singapore) builds machine learning and on-chain data solutions that democratize wallet intelligence for credit analytics.
- Suberra (Singapore) simplifies Web3 payments with an all-in-one infrastructure that accelerates crypto payment acceptance for recurring subscriptions, metaverse commerce, marketplaces and more.
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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May 31 NCFA Event Presented by DIGTL: 7th Annual Fintech & Funding Summer Kickoff Networking ON SALE NOW!
NCFA Canada | Craig Asano | May 4, 2023
PATIO TIME IS BACK!
Join the National Crowdfunding & Fintech Association of Canada, DIGTL, Invest Hong Kong, Pateno Payments, Bitvo, Liquid Avatar Technologies, DC Bank, Spaces, United Craft, Take It Easy Group, eThereLive, Gowling WLG, Peninsula, and partners and Canada's leading Fintech & Funding community in the heart of trendy Queen West for an evening of celebration, partnerships, reconnecting with peers, and prime networking mixer.
Launching, scaling or interested in disrupting the finance industry, raising capital or participating in Canada’s growing fintech, blockchain, digital banking, crypto, web3/4/5, DAOs, digital assets, DeFi, AI, and open banking, sustainable finance, crowdfunding, payments, regtech, insurtech, wealthtech, digital identity, and alternative investing sectors?
Here's a perfect opportunity to connect with stealth and emerging startups, scale-ups, and industry experts, and strategize with partners, pitch investors, and mingle with Toronto’s burgeoning fintech and funding ecosystem.
Presented by DIGTL
7TH ANNUAL SUMMER KICKOFF EVENT
Date: WEDNESDAY, MAY 31, 2023
When: Doors open 5:30PM to 9PM
Venue: SPACES, 7th Floor Loft & Rooftop Patio
Where: 180 John Street, Toronto, ON M5T 1X5
Tickets: $40-50 + HST (SOLD OUT Some Tickets at the Door!!)
Tickets are limited and include access, drinks, food, and entertainment
NCFA Members (Only) Click to --> SAVE 20%
Not yet a member? Join now for free and save
This event is for entrepreneurs and investors in the Fintech, Blockchain, Digital Finance, Payments, Crypto, Web3/4/5, AI, and Alternative Investing Community AND all innovative companies raising capital
Innovators and investors interested in financial innovation, deal flow, networking and collaborating with startups, investors, angels, early stage-focused VC's and industry experts and developers in alternative finance, fintech, digital banking, blockchain, crypto, metaverse, web3, defi, refi, cefi, challenger banks, payments, open finance, P2P crowdfinance, wealthtech, insurtech, regtech, digital marketing platforms, innovators, investors and entrepreneurs.
- Women founders and entrepreneurs actively building
- Companies actively raising capital, seeking partners, investors, advisors
- Investors and syndicates interested in investing
- Fintech advisors, consultants, and development experts (startups, institutions, researchers, academia, government)
- Financial innovators, developers, ecosystem partners
- High growth fintech start-ups (stealth mode) and scale-ups. Private or public.
- Developers looking for opportunities and to connect with businesses
- Funding platforms, dealers, providers and their client networks
- Anyone interested in emerging fintech trends, regulations and industry developments
Event Host and Partners:
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 and 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: ncfacanada.org
Connecting the world's best assets with global investors through a network of digital securities exchanges, allowing issuers to quickly access the world's capital at a fraction of the cost, and providing investors with exciting investment opportunities.
For more information, please visit: DIGTL
Invest Hong Kong is the government department created to encourage and facilitate overseas business to set up and expand in Hong Kong. We have teams of business specialists in Canada and Hong Kong dedicated to assist you to advance your business plan in Hong Kong and beyond.
For more information, please visit: Invest Hong Kong
We believe work is about people and ideas. Our Spaces are inhabited by forward thinkers, innovators and game changers who are confident in achieving their goals. Whether you are a small business, entrepreneur or a corporate intrapreneur, at Spaces we help our community to expand their horizon. Our free-spirited vibe attracts an energetic community of positive and open-minded business thinkers who love to meet new people. The full program of professional events and hospitality services, and the inspiring sophisticated European design of our business clubs, involves people in the buzz and energy of Spaces, and make them feel at home. By creating dynamic workspaces with a unique and entrepreneurial spirit we help you think, create and collaborate while our friendly team sees to all of the background logistics and services. At Spaces we make sure that our community can focus on driving their business forward.
For more information, please visit: SPACES
Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity. The Liquid Avatar Mobile App, available in the Apple App Store and Google Play, is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.
The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed to support all participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using state-of-the-art blockchain and open standards technologies initially as a node on the Indicio Network. The Company recently announced its LQID CARD, a unique US payment card, and the world's first Metaverse Rewards program. The LQID Card a cash back and reward program that has over 600 leading online merchants and is working to release its own branded network payment card. The Company's subsidiary, Oasis Digital Studios, is a creative and development agency that supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) solutions and has acquired 50% and controls the Aftermath Islands Metaverse program.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol "LQID" (CSE:LQID). The Company also trades in the United States, on the OTCQB under the symbol "LQAVF" and in Frankfurt under the symbol "4T51".
For more information, please visit: Liquid Avatar Technologies
Bitvo is on a mission to become Canada’s premier cryptocurrency trading platform. With a focus on customer service, security, and transparency, we make cryptocurrency trading accessible for all Canadians.
For more information, please visit: Bitvo
Pateno is the only business payment solutions you will ever need. Our innovative payment solutions ensure a more streamlined, secure and flexible way to transfer money. Via our API technology, you can initiate payments from existing web pages, portals, and apps, scaling your capabilities as your industry changes. From tip disbursement to loan management payments, our highly intuitive and simple-to-use system can be easily integrated, instantly enhancing and streamlining your money transfers. Safe, secure and advanced, experience the next generation to online business payment solutions with Pateno. Contact our sales representative to learn more today about our online payment solutions.
For more information, please visit: Pateno Payments
For more information, please visit: DCBank
Gowling WLG is an international law firm created by the combination of Gowlings, a leading Canadian law firm, and Wragge Lawrence Graham & Co (WLG), a leading UK-based international law firm. With more than 1,400 legal professionals in 19 cities across Canada, the UK, Continental Europe, the Middle East and Asia, Gowling WLG provides clients with top-tier legal advice at home and abroad in a range of areas. Our clients have access to in-depth expertise and experience in key global sectors, including advanced manufacturing, energy, financial services, infrastructure, life sciences, natural resources, real estate and tech. We see the world through our clients’ eyes, and collaborate across countries, offices, service areas and sectors to help them succeed – no matter how challenging the circumstances. Our culture is, above all, about people and teams, based on our belief in the power of relationships to deliver tangible business results.
United Craft is an Ontario-based craft beverage company that is all about flavour innovation. We offer new flavours and styles of alcoholic beverages that suit today's lifestyles and emerging consumer preferences.
United Craft works with some of Ontario's best craft beverage producers to create natural, better-for-you recipes using unique combinations of hops, herbs, flowers, fruits, grains, specialty yeasts, and (new in 2022) nutrient-rich maple water. Our beverage offerings are all made in small batches and range from those with low alcohol and/or low sugar to traditional award-winning favourites as well as tasty seasonals flavoured with coffee, pecan, hibiscus, ginger, honey, blackberry, pineapple, peach and other popular fruits.
New for 2022 is Hail Caesar Korean BBQ (a vodka-based bold and tasty drink), Eden Grove Zero Sugar Apple Cider, Sip Elderflower Cherry and Juniper Line Maple Water Radlers, and Flair Los Sangria. YUP lager won the GOLD medal at the Canadian Brewing Awards and Tomorrow Brew Co's Honey Ginger Shandy and Coffee Milk Stout won GOLD at the Ontario Brewing Awards. Moi Mosa and Moi Jito are now top-selling malt-based radlers inspired by popular cocktails.
For more information, please visit: United Craft
Founded in 2017, Take It Easy Group’s mission is to help your Seed & Series A start-up scale for success. Our team of experienced Executive Assistants are your strategic partners, with proven methods to keep your business organized and efficient, so you can focus on growth.
For more information, please visit: Take It Easy Group
eThereLIVE is the streaming and broadcast division of Soundbox Productions, one of the largest providers of lighting, audio & staging production services in Ontario, Canada. Our Professional Services include live and digital events, town halls, conferences, live sports, webinars, and more both virtually and on location across North America.
For more information, please visit: eThereLive
Since our start in 2017, the Peninsula Canada family has grown from a few people to hundreds. And we are all committed to providing exceptional service to over 5000 small businesses across the great white north. We help small businesses grow. This is what we all come into work for every day. By giving them an affordable alternative to an in-house human resources team, we help them save time and money. Peninsula started as a small business and our mission is to help other small businesses achieve their version of success!
For more information, please visit: Peninsula
THANKS TO OUR COMMUNITY SUPPORTERS
Last year: 2022 Summer Kickoff Networking
