Canada

Canadian Small Business Lender Lendified Attracts $15 Million Through Latest Funding Round

Lendified, a Canada-based lender who provides small business loans online, announced on Wednesday it secured $15 million through its latest funding round with institutional and private investors. The investors include CI Financial Corp., Windsor Private Capital Limited Partnership, FirePower Capital, and a group of high… Read More

Financeit Announces U.S. Expansion & Appoints Steve Olszewski as General Manager

Financeit, a Canada-based point-of-sale financing provider, announced last week it is expanding into the U.S. and has appointed Steve Olszewski as its U.S. division general manager. Founded in 2011, Financeit describes itself as a market leading point-of-sale payment plan provider, servicing the home improvement, vehicle, and… Read More

Canadian Fintech Mogo Announces Merging Agreement With Difference Capital Financial

Canadian fintech Mogo Finance Technology announced on Monday it has signed a definitive arrangement agreement to merge itself with Difference Capital Financial Inc. Mogo reported that under the terms of the Arrangement Agreement, each common share of Mogo will be exchanged for one Difference common… Read More

Mid-Size Chinese Cryptominers Weathering Risks to Access Cheap Power in Iran

In the wake of increasing Chinese state reticence towards a once supported industry, the biggest Chinese crypto mining firms have been steadily expanding or relocating to Canada, the US and Iceland, Chinese crypto news outlet 8BTC reports. But small and mid-size Chinese crypto miners have… Read More

Failed Canadian Cryptocurrency Exchange QuadrigaCX Files for Bankruptcy

Canadian cryptocurrency exchange Quadriga CX has been placed in bankruptcy this week, CBC reports. The exchange had been undergoing restructuring following the sudden death of founder Gerald Cotten and the loss of $260 million CAD in exchange funds. Cotten’s wife, Jennifer Robertson, filed for credit protection in… Read More

Bitfury Confirms Layoffs at Hut 8 Cryptocurrency Mines in Alberta

The price of Bitcoins made a newsworthy jump of 20% last Monday morning, and that gain is still holding, but the lean early months of 2018 saw a second round of layoffs at Hut 8, “Canada’s largest cryptocurrency miner,” CBC reports. Hut 8 runs 85… Read More

Blockchain Firm Vanbex, and Founders Kevin Hobbs & Lisa Cheng, Defend Against Civil Claim and Scam Allegations

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Vanbex, a blockchain based firm based in Vancouver, has posted a statement defending itself regarding allegations made by the British Columbia Director of Civil Forfeiture and covered in the media. The original report, covered by the Vancouver Sun, revealed strong statements alleging a “$30-million cryptocurrency… Read More

Alleged Toronto Drug Dealer Forfeits $1.9 Million in Bitcoins

An alleged drug dealer from the Toronto suburb of Mississauga, who pleaded guilty in December to using Bitcoins to buy drugs and a gun on the Dark Net, has had the bulk of his Bitcoins seized this week by a Toronto court, The Toronto Star… Read More

Coinsquare Announces Pre-Launch of Canadian Fiat-Backed Stablecoin “eCAD”

Canadian cryptocurrency platform Coinsquare announced on Thursday the pre-launch of its fiat-backed stablecoin, eCAD. According to Coinsquare, eCAD will provide the Canadian and global markets the stability of the Canadian dollar with the benefits of a digital currency. This new product will allow investors to purchase eCAD… Read More

Canadian Investment Fund Manager 3iQ Selects KoreConX Digital Securities Protocol For Digital Security Offering

KoreConX announced on Thursday that 3iQ Corp. (3iQ), a Canada-based regulated multi crypto asset portfolio manager, has chosen the KoreProtocol for its Digital Securities Offering. According to KoreConX, 3iQ is claimed to be the first Canadian investment fund manager to fully comply with the terms and… Read More

Canada’s Regulatory System for Fintech is Complex, Costly and Chaotic. It is Stifling Fintech Innovation

Canada may be a smaller market but it has a robust, highly sophisticated economy and a vibrant Fintech sector. Toronto, the financial center of the country, is home to dozens of Fintechs including payment firms, online lending, AI, wealth management, blockchain and more. Yet while… Read More

Cryptomining Firm Bitfarms To Be Delisted from Tel Aviv Stock Exchange, Files Preliminary Prospectus in Ontario

Cryptomining company Bitfarms (formerly Blockchain Mining) lost $18.2 million during the 2018 crypto bear market and will shortly be delisted from the Tel Aviv Stock Exchange (TASE), Isreali news outlet Globes reports. Meanwhile, the company has reportedly sought to establish a foothold in Ontario, where… Read More

Report: Vanbex, Formerly Known as Etherparty, Accused of Cryptocurrency Fraud

According to a report in the Vancouver Sun, Vanbex, formerly doing business as Etherparty Smart Contracts, has been hit with a lawsuit launched by the British Colombia Civil Forfeiture Office. The report alleges that Vanbex and its two founders, Lisa Cheng and Kevin Hobbs, were… Read More

Scotiabank Launches New Digital Mortgage Experience “Scotiabank eHOME”

Scotiabank announced last week the launch of its new digital mortgage experience, Scotiabank eHOME. Scotiabank reported with Scotiabank eHOME, Canadians may apply for a mortgage completely online, track the application status through real-time updates, and complete the closing with a lawyer without requiring an in-person… Read More

Canadian Insurtech Finaeo Secures $5.35 Million Through Latest Investment Round Led By Luge Capital

Finaeo, a Canada-based insurtech startup focused on the life insurance marketplace, announced this week it secured $5.35 million through its latest investment round, which was led by Luge Capital. Founded in 2016, Finaeo’s vision is to become the digital fabric that connects and powers the… Read More

Plaid Expands Institution Coverage in Canada

Plaid, a U.S.-based fintech startup, announced on Thursday it has expanded its institution coverage in Canada. The company launched its services in the country last year and recently added support for Desjardins, National Bank of Canada, President’s Choice, and Simplii. Along with the expansion of… Read More

Crypto Trader Lost $100 000 CAD in QuadrigaCX Exchange’s Final Hours

The disastrous demise of Canadian cryptocurrency exchange QuadrigaCX has been well covered to date, including: the mysterious, sudden death of founder Gerald Cotten in India in early December 2018. the criminal past of Quadriga co-founder Michael Patryn. the alleged $190 million USD “loss” of client funds… Read More

Quebec Securities Regulators Want to Hear From “Blockchain Laboratory” Investors

Quebec’s Autorité des marchés financiers (AMF) and Financial Markets Tribunal (TMF) would like to hear from anyone who invested in “Blockchain Lab Inc.” Affected investors are asked to contact M me  Sarah Abi-Khalil at 1 877 525-0337 , extension 2644, before 1 st April 2019. The company and its proprietors, Jonathan Forte, Benjamin… Read More

Full Stack Crowdfunding: seriesOne Partners with Polymath on Security Token Issuance

seriesOne Inc., a globally focused digital security issuance platform, is partnering with Polymath. The company says the goal is to simplify the complex challenges of creating and managing security tokens (blockchain-based digital securities). The new partnership seeks to enable the ability to issue security tokens… Read More

Canadian Fintech Progressa Surpasses $100 million in Debt Relief

Progressa, a Vancouver-based fintech company that is focused on helping sub-prime and near-prime Canadians seeking to improve their financial health, announced on Tuesday it has surpassed the $100 million milestone in funded loans for underserved Canadian consumers. The company reported since 2013, Progressa has helped… Read More

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