Weekly FinTech & Financial News
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Top FinTech Updates this Week
💼 Balance, Calgary-based Canada's largest digital asset custodian, expanded into the U.S. market through the acquisition of Digital Value Transfer Rails Inc. (DVTR), a US-based, multi-state licensed digital asset custodian and money transmitter
🤝 SnapTrade partnered with Webull Financial, US-based an online investment platform to provides access to advanced trading tools for investors
🤝 Fiserv, a global payments and financial technology firm and Mastercard expanded their partnership to support agentic commerce into merchant platform
🚀 Western Union officially launched Western Union Rewards in Canada
🚀 Loft47, Vancouver-based a back-office automation and commission management platform for real estate brokerages launched Loft47 for Teams
🤝 PayPal is working with Microsoft to support the launch of the tech giant’s Copilot Checkout, allowing shoppers to browse and pay without needing to leave Copilot
🤝 Nuvei, a Montreal-based payment provider partnered with FreedomPay, US-based commerce platform for merchant payments, to provide enterprise merchants with a unified payments approach for in-store and digital commerce across global markets
🌟 VoPay, a Vancouver-based API-first embedded payment technology provider for software platforms established its global headquarters in Qatar to advance digital financial infrastructure across MENA, Africa, and Southeast Asia
🌟 bunq, Europe’s second-largest neobank, formally filed for a US de novo banking license with the OCC
Top Financial Institutions Updates this Week
🤝 JPMorgan Chase become the new issuer of the Apple Card, replacing Goldman Sachs after a transition period of about two years
🤝 RBC and Eurasia Group, US-based global political risk research and consulting firm team up to reset the conversation on the US-Canada relationship
🚀 BMO Insurance introduces 'Empathy Loss Support' an enhanced bereavement support through collaboration with US-based Empathy, a technology company that helps individuals navigate life's toughest moments
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Fiserv, a global payments and financial technology firm and Mastercard expanded their partnership to support agentic commerce into merchant platform. Under the agreement, Fiserv will integrate Mastercard’s Agent Pay Acceptance Framework into its merchant acceptance infrastructure, enabling AI-initiated purchases to be authenticated, tokenized and settled through existing card network rails at a time when autonomous agents are beginning to move from experimentation into live commerce environments. | PYMNTS
Fiserv expanded its partnership with Microsoft to strengthen its use of AI, rolling out 365 Copilot across its global workforce. Microsoft 365 Copilot will be deployed across Fiserv's workforce, equipping employees with access to advanced AI tools that the firm says will enhance productivity and accelerate decision-making. Meanwhile, Fiserv is set to expand its use of Microsoft Foundry, an Azure-powered AI platform designed to build, customise, deploy, and manage AI applications safely and securely. | Finextra
Western Union officially launched Western Union Rewards in Canada. Western Union Rewards is a free-to-join loyalty program from Western Union that allows you to earn points and redeem them for discounts on money transfer fees. As a member, one also get additional benefits such as: Additional bonus offers from time to time, allowing you to earn even more points and Member-only discounts on certain brands in the Western Union Rewards Deals and Discounts portal. | Western Union
VoPay, a Vancouver-based API-first embedded payment technology provider for software platforms established its global headquarters in Qatar to advance digital financial infrastructure across MENA, Africa, and Southeast Asia. From its Doha headquarters, VoPay will expand and operate foundational financial infrastructure that supports central banks, financial institutions, government and public-sector entities, and large enterprises in modernizing financial systems and connecting regional markets to global financial ecosystems. As part of this expansion, VoPay plans to hire more than 400 professionals in Qatar over the next three years across engineering, technology, security, compliance, data, and platform operations, reinforcing the country’s role as a long-term center for financial infrastructure development. | Business Wire
PayPal is working with Microsoft to support the launch of the tech giant’s Copilot Checkout, allowing shoppers to browse and pay without needing to leave Copilot. For its part, PayPal will power “surfacing merchant inventory, branded checkout, guest checkout and credit card payments, starting with Copilot.com." | PYMNTS
Nuvei partnered with FreedomPay, US-based commerce platform for merchant payments, to provide enterprise merchants with a unified payments approach for in-store and digital commerce across global markets. By integrating FreedomPay’s award-winning Next Level Commerce™ platform, which powers leading hospitality, retail brands, major stadiums and hotel groups, with Nuvei’s scalable payments infrastructure, merchants gain a single solution for creating frictionless checkout experiences that are secure, connected, and insight-driven. | Fintech Finance News
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JP Morgan is set to natively issue its deposit token product, JPM Coin, on the Canton Network blockchain platform. With native availability of JPM Coin, institutions using Canton will be able to issue, transfer, and redeem the token near-instantly within a secure and synchronised ecosystem. A phased integration throughout the year, will see an initial focus on establishing the technical and business frameworks necessary to support the issuance, transfer, and near-instant redemption of JPM Coin directly on Canton. | Finextra
JPMorgan Chase becomes the new issuer of the Apple Card, replacing Goldman Sachs after a transition period of about two years. The pact keeps Mastercard as the network and ensures continuity for existing Apple Card users, where Goldman is transferring a roughly $20 billion portfolio (the portfolio balances are noted in the company’s latest Form 10-Q) while resetting the banking relationship behind the cards. | PYMNTS
BMO Insurance introduces 'Empathy Loss Support' an enhanced bereavement support through collaboration with US-based Empathy, a technology company that helps individuals navigate life's toughest moments. It aims to provide access to personalized, comprehensive, on-demand support for the challenges many beneficiaries face when navigating the loss of a loved one. Empathy Loss Support is now available for all current BMO Insurance Term Life, Universal Life, Whole Life, Term 100, and Critical Illness policies with a Return of Premium on Death (ROPD) rider. BMO Insurance is among the first to bring bereavement support to Guaranteed Investment Funds. | BMO
RBC and Eurasia Group, US-based global political risk research and consulting firm team up to reset the conversation on the US-Canada relationship. By bringing together their leading-edge insights and combined strengths in convening global leaders and decision makers, the partnership aims to tackle the key challenges and opportunities that will define the next decade. Eurasia Group and RBC will co-host a series of high-level live events and convenings. The most notable is the 2026 US-Canada Summit, held June 10–11 in Toronto. | RBC
RBC appoints professional golfer Shane Lowry as its newest Team RBC brand ambassador, joining a world-class roster that embodies excellence, leadership and community. Lowry will wear the RBC shield for the first time today at the TGL Golf match in Palm Beach Gardens, Florida. He will also join the field for the 2026 RBC Heritage and RBC Canadian Open. Lowry is one of the world's best golfers, with a 13-year career on the PGA TOUR that includes 33 top-ten finishes, three PGA TOUR wins and a standout achievement as the 2019 Open Championship winner. He also represented Europe at the Ryder Cup in 2021, 2023 and 2025, and Ireland at the Paris 2024 and Tokyo 2020 Olympic Games. | RBC
David MacNaughton, one of the most respected voices in Canada's business community joins CIBC as a Strategic Advisor. In this role, he will further strengthen CIBC's Office of the CEO by providing insights to senior business leaders across areas including public policy, regulatory developments, and stakeholder relations. He will also work alongside the bank's experienced group of Vice-Chairs to bring an unmatched level of expertise and insight to CIBC's clients on strategic growth opportunities in a highly fluid operating environment. | CIBC
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Balance, Calgary-based Canada's largest digital asset custodian, expanded into the U.S. market through the acquisition of Digital Value Transfer Rails Inc. (DVTR), a US-based, multi-state licensed digital asset custodian and money transmitter. It is giving Balance immediate operational reach across a majority of U.S. states. Digital Value Transfer Rails Inc. (DVTR) has been part of Balance’s affiliate ecosystem since inception and focuses on providing safe, compliant access to the digital asset space for U.S. individuals and institutions. The relationship naturally evolved into a full acquisition, turning DVTR into a wholly-owned subsidiary of Balance. In addition to digital asset and fiat custody, DVTR can also perform trading and staking services, whether directly, or through third-party providers. | Business Wire
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Conexus Venture Capital, a Saskatchewan-based VC firm founded by Conexus Credit Union closed its $30 Million Fund #2. Conexus Venture Capital (CVC) Fund #2 is now oversubscribed, meaning more capital will soon be deployed in Saskatchewan’s tech startups and the provincial economy. Conexus Venture Capital’s successful fundraising shows the appetite and conviction in Saskatchewan’s flourishing technology sector as new and repeat investors have come into the fund. Conexus Venture Capital looks forward to backing more high-growth companies in the coming months. CVC Fund #2 has already been active in supporting Saskatchewan tech founders by investing in three startups: Alto, Offstreet and LiORA by EMS Inc. | Globe Newswire
McRock Capital, Toronto-based venture capital firm closes $120M CAD ($88M USD) in third fund, backing industrial software startups. Fund III LPs already includes existing institutional backers EDC, BDC Capital, the Alberta Enterprise Corporation, Fonds de solidarité FTQ, and Aspen Technology (AspenTech), as well as newcomers like Bell Ventures, CIBC Innovation Banking, and Venture Ontario, and a slew of undisclosed high-net-worth individuals. | BetaKit
RBCx published "Capital Under Pressure", a report navigating Canada’s venture capital ecosystem, with new analysis on fundraising data from 2025. From graduation rates and fund concentration to the struggles of emerging managers, the report dives deep into the data to provide exclusive insights into the challenges and opportunities shaping Canadian venture capital. Key Highlights: Canadian VC firms raised just over $2B in 2025—well below Canada’s long-run average, Only 25% of 2021 cohort funds have raised a successor fund within 5 years, Emerging managers raised a record-low $249M in 2025, Capital concentration is at an all-time high, with the top 5 funds capturing ~83% of total capital. | LinkedIn
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FriedmannAI, Toronto-based AI-native financial planning platform officially launched and also secured investment from DMZ Ventures. FriedmannAI introduced real-time analysis, natural-language workflows, and new ways for advisors to present financial information to clients. The company’s product was developed in partnership with IBM, integrating technologies such as Elastic Search, IBM OCR, and IBM Cloud Object Storage. FriedmannAI also secured investment from DMZ Ventures, the investment arm of the DMZ accelerator where the startup previously participated. The funding will contribute to product development and go-to-market efforts as the company begins national expansion. | Fintech.ca
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bunq, Europe’s second-largest neobank, formally filed for a US de novo banking license with the OCC. This marks a major step in its mission to make life easy for the rapidly-growing group of global citizens and digital-native professionals who live and work between the US and Europe. The challenger has built its offering around digital nomads, a globally-connected community. | Fintech Finance News
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SnapTrade, New Brunswick-based technology firm in bringing brokerage connections and trading capabilities to third-party apps partnered with Webull Financial, US-based an online investment platform to provides access to advanced trading tools for investors. SnapTrade will integrate with Webull's API, giving investors the ability to view their portfolio holistically, and respond to market shifts in real-time. The partnership extends SnapTrade's commitment to democratizing finance, and providing seamless and secure trading with live trade execution and account connectivity, within consumer finance apps. | Newswire
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Lab04 Ventures, Victoria-based digital-first platform driving growth for businesses launched Nexus AI, an AI-driven support & collection for Canadian consumer lenders. Nexus, is a real-time intelligence for collections and customer support — built for Canadian regulation, data residency, and high-trust conversations. From flexible payments to dispute handling, the AI agents resolve complex cases with human-like empathy. | Nexus
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Loft47, Vancouver-based a back-office automation and commission management platform for real estate brokerages launched Loft47 for Teams. It is built to automate commissions, payouts and accounting workflows while giving team leaders real-time visibility into performance and profitability. The platform allows team leaders to focus on performance and growth rather than manual accounting and spreadsheets. | Fintech.ca
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