Canada

May 22, 2024 @ 8:43 am By Omar Faridi  |  

Taurus, a global firm focused on institutional-grade digital asset infrastructure, announces the opening of its newest office in Vancouver, Canada, the first in North America. This expansion marks a significant milestone in Taurus‘ international growth strategy and reinforces its position as a technology provider in… Read More

May 10, 2024 @ 2:30 pm By Omar Faridi  |  

FINTRAC announced that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance. This foreign money services business was “imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance… Read More

May 6, 2024 @ 9:43 pm By Tony Zerucha  |  

nCino, a provider of cloud banking for the global financial services industry, announced this week that Libro Credit Union, one of the largest credit unions in the Canadian province of Ontario, has selected nCino’s Cloud Banking Platform. Libro serves more than 117,000 owners via 34… Read More

May 5, 2024 @ 7:45 pm By Omar Faridi  |  

Recent pilot conversion to completely digital cloud-based core banking platform is next step in digital transformation for Atlantic credit unions. A first for the Canadian financial industry, League Data, the CIO and technology partner for Atlantic credit unions, announced that they have successfully converted Brunswick… Read More

April 24, 2024 @ 4:42 pm By Omar Faridi  |  

Xero, the global small business platform, released its latest Xero Small Business Insights (XSBI) quarterly update for Canada, based on data from October to December 2023. The data showed that Canada’s small business sales decline “may be levelling off, which is an encouraging signal for… Read More

April 22, 2024 @ 10:02 am By Omar Faridi  |  

Workplace savings programs should be simple and streamlined, both for employers to manage and for employees to monitor and contribute to their financial growth, according to an update shared by Rippling. That’s why Rippling says it is pleased to announce a new integration with Wealthsimple… Read More

April 21, 2024 @ 12:07 pm By Omar Faridi  |  

Galaxy Digital Holdings Ltd. (TSX: GLXY) announced that its affiliate, Galaxy Asset Management, (GAM), reported preliminary assets under management of $7.8 billion as of March 31, 2024. The 23.3% decrease in preliminary AUM “compared to the prior month was primarily driven by the liquidation of… Read More

April 18, 2024 @ 7:10 pm By Omar Faridi  |  

Interac Corp. announced it has entered into a strategic transaction to acquire the exclusive Canadian rights to use Toronto-based Vouchr Ltd.‘s engagement platform which enables users to send and receive personalized multi-media notifications along with their money transfers. With this strategic transaction, Interac intends to… Read More

April 17, 2024 @ 11:33 am By JD Alois  |  

The Canadian Securities Administrators (CSA), the entity that represents all of Canada’s provincial and territorial securities regulators, has posted a note on “crypto asset trading platforms” (CTPs) and the previously adopted “interim approach to value-referenced crypto assets (VRCAs).” In common terms, a VRCA is a… Read More

April 17, 2024 @ 11:15 am By JD Alois  |  

Payments Canada has announced a new system to speed up the payments and transfer process in Canada.  Real-Time Rail (RTR) seeks to enable 24/7/365 value transfer in real-time. Payments Canada is a “public purpose organization” that operates the Canadian payments system. In 2023, Payments Canada… Read More

April 12, 2024 @ 3:36 pm By Omar Faridi  |  

Nuvei Corporation (Nasdaq: NVEI), the Canadian Fintech company, announces that its Singapore entity, Nuvei Singapore Pte Ltd, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore. This new license enables Nuvei to “operate three types of payments services in… Read More

April 11, 2024 @ 2:19 pm By Omar Faridi  |  

Airwallex, a global payments and financial platform for modern businesses, introduced the Airwallex Borderless Visa Card in Canada. The virtual card is issued by Peoples Trust Company, “part of Peoples Group, and enables Canadian businesses to easily make payments around the world, everywhere Visa is… Read More

April 9, 2024 @ 1:46 pm By Omar Faridi  |  

Canada is becoming an increasingly viable landscape for investment activity thanks to its favorable regulatory environment, a flourishing tech sector, and the country’s continued commitment to fostering entrepreneurship. As Apple (NASDAQ:AAPL) continues to ramp up its generative AI capabilities, the Silicon Valley giant has actively… Read More

April 8, 2024 @ 9:42 pm By Omar Faridi  |  

Payments Canada welcomes four new and three returning members to its Stakeholder Advisory Council (SAC). SAC provides advice and counsel to Payments Canada’s leadership, employees and Board of Directors “on key elements of the future of payments.” The appointments took effect on April 1, 2024,… Read More

April 8, 2024 @ 7:43 am By Omar Faridi  |  

Nium, the enabler of real-time cross-border payments, recently announced its partnership with luxury tour operator Scott Dunn to issue virtual cards to its global network of hotel providers. Nium’s virtual card solution reportedly “enables travel intermediaries to effectively pay airlines, hotels, and the global travel… Read More

April 5, 2024 @ 2:18 pm By Omar Faridi  |  

Coinbase (NASDAQ:COIN) says it has officially been registered as a Restricted Dealer by the Canadian Securities Administrators (CSA). This move reportedly makes Coinbase the largest and first international cryptocurrency exchange registered in Canada. This milestone, following their formal launch in August 2023, reinforces their commitment… Read More

April 4, 2024 @ 2:48 pm By Omar Faridi  |  

At a time when many reports seem to indicate that Canadians are tightening their wallets, a new survey released today from Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, found that “the vast majority of Canadians (82%) plan to… Read More

April 2, 2024 @ 8:57 pm By Omar Faridi  |  

Nuvei Corporation (Nasdaq: NVEI) announced that it has entered into a definitive arrangement agreement to be taken private by Advent International, which claims to be one of the largest and most experienced global private equity investors, with the support of each of the company’s holders… Read More

March 30, 2024 @ 10:35 am By Omar Faridi  |  

Payments Canada is actively involved in promoting harmonization of the ISO 20022 message usage for high-value payment systems globally and is declaring its support for the High-Value Payments Systems Plus (HVPS+) ISO 20022 Payments Interoperability Charter. The charter sets out objectives and principles “designed to… Read More

March 24, 2024 @ 5:48 pm By Omar Faridi  |  

Payments Canada is seeking input on proposed changes to how bill payment remittances are processed through the Automated Clearing Settlement System (ACSS). This includes the potential impact the changes “could have on billers, consumers who make bill payments and any financial institution or organization that… Read More