News Summary

Montreal-based Shakepay has become the first cryptocurrency-focused company to gain membership in Payments Canada, marking a significant milestone for the firm and the Canadian fintech industry. This membership allows Shakepay access to Canada’s core payment infrastructure, enhancing its ability to offer faster and more reliable payment options. It also positions Shakepay alongside major banks and credit unions, giving it a platform to influence future payment systems in Canada. Founded in 2015, Shakepay has evolved from a Bitcoin-loadable Visa card provider to a prominent crypto exchange serving over one million Canadians. The company has raised $45 million CAD and expanded into services like bill payments and direct deposits. Shakepay’s inclusion as a Payments Canada member follows its attainment of the Canadian Investment Regulatory Organization (CIRO) investment dealer status, reflecting its commitment to building a trusted and regulated platform.