Shakepay becomes the first crypto-native firm to join Payments Canada, gaining access to core infrastructure and a voice among Canada’s financial giants.
A Landmark Moment for Canadian FinTech
In a groundbreaking move, Montréal-based crypto platform Shakepay has become the first crypto-native company to secure membership in Payments Canada—the national organization that oversees the country’s core payments infrastructure.
This milestone marks a major shift in Canada’s financial ecosystem, traditionally dominated by banks and credit unions, and positions Shakepay alongside major players like Questrade and Wealthsimple, the only other FinTechs to achieve this recognition so far.
What the Membership Means for Shakepay
With this membership, Shakepay gains the ability to apply for direct access to Canada’s key payment systems, including the highly anticipated Real-Time Rail (RTR) network. While the membership currently applies only to Shakepay’s Canadian dollar services, it signifies a deeper integration into the country’s financial system.
“It not only enhances our ability to deliver secure and seamless payment products… but empowers us to shape the future of payments in Canada,” said Eric Richmond, Shakepay’s General Counsel and Head of Business Development.
How Shakepay Reached This Milestone
To qualify, Shakepay first obtained investment dealer status from the Canadian Investment Regulatory Organization (CIRO) in early 2025, completing a rigorous two-year process. This regulatory milestone was a prerequisite for joining Payments Canada and further solidified Shakepay’s credibility within traditional finance circles.
In addition to its CIRO membership, Shakepay is also registered with FINTRAC as a money services business, adding another layer of regulatory compliance to its growing platform.
A Voice at the Financial Table
For Shakepay, the impact of this membership goes beyond infrastructure. It grants the company a voice in shaping Canada’s payment landscape, joining the same conversations as big banks and credit unions.
“This gives us a seat at the table to demand for change,” the company wrote in a blog post, signaling its commitment to helping modernize the national financial system from a crypto-native perspective.
From Bitcoin Startup to Financial Trailblazer
Founded in 2015 by Jean Amiouny and Roy Breidi, Shakepay started with a Bitcoin-loaded Visa card and has since evolved into a comprehensive crypto exchange. Today, it offers services including:
- Buying, selling, and earning Bitcoin
- Bill payments and direct deposits
- E-transfers and other banking features
With over one million Canadian users and $45 million CAD in funding from investors like BoxOne Ventures, QED Investors, and Boost VC, Shakepay continues to position itself at the crossroads of crypto and traditional finance.
What’s Next for Payments Canada and RTR
As Shakepay enters this new phase, the broader system it’s becoming part of is also undergoing transformation. Payments Canada’s RTR system, which promises instant payments across the country, is now 60% technically complete, with a launch targeted for late 2025 following testing phases.
Despite prior delays, the RTR system remains central to modernizing Canada’s payment framework—a mission that Shakepay is now officially part of.
Stay tuned to Maple News Wire for continued coverage of fintech innovation, crypto regulation, and the evolving Canadian payments landscape.
