Weekly FinTech & Financial News
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Top FinTech Updates this Week
🚀 Block, the US-based parent company of Square and Cashapp launches bitcoin payment capability for 4 million merchants through its Square Bitcoin feature
🤝 Wealthsimple, a Toronto-based wealthtech platform is partnering with Wise Platform, UK-based payment firm Wise's global payments infrastructure to streamline cross-border payments for its users
🚀 Visa launches Stablecoin Payouts Pilot to accelerate access to funds for creators & gig workers
🚀 PayPal launches "PayPal Pay in 4" an interest-free, no-fee, BNPL solution for Canadians
🤝 QuickFacts, a Nova Scotia–based SaaS platform for insurance brokers, expanded its partnership with Definity, the Waterloo-based P&C insurer, enabling brokers to access Economical Insurance and Family Insurance products directly through the QuickFacts platform
💼 CRU GROUP, Toronto-based claims management platform for P&C industry acquires select assets of Specialty Risk & Intelligence Services (SRIS), a Toronto-based investigation firm providing corporate intelligence, claims investigations, and legal support services to insurers, law firms, and private equity clients
💼 Coinbase withdraws its proposed $2B deal to buy BVNK, a UK-based enterprise-grade stablecoin payments infrastructure provider
🚀 Bloom Finance, Toronto-based reverse mortgage provider launches SafeRate, Canada’s first lifetime fixed rate reverse mortgage
🌟 KOHO, Vancouver-based challenger bank becomes one of the first Canadian FinTechs registered as a Payment Service Provider with the Bank of Canada
Top Financial Institutions Updates this Week
🤝 Meridian Credit Union partnered with Toronto-based Conscious Economics, a not-for-profit social enterprise to launch 'Well with Money', a new, free online program to help Canadians explore and improve their financial wellness
🚀 Manulife launches global 'Longevity Institute' committing $350M by 2030 to accelerate progress on lifelong health and financial resilience
🤝 TD Bank collaborated with US-based Empathy, a technology company that helps individuals navigate life's toughest moments, to offer post-loss care to eligible clients who are using TD's estate settlement services
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Block, the US-based parent company of Square and Cashapp launches bitcoin payment capability for 4 million merchants through its Square Bitcoin feature. With Square Bitcoin, merchants have the option to automatically convert a portion of their daily card sales into bitcoin, giving businesses increased flexibility and exposure to cryptocurrency. In addition, sellers can now accept payments in multiple configurations such as bitcoin to bitcoin, bitcoin to fiat currency, fiat to bitcoin, or fiat to fiat. Square Bitcoin uses the Bitcoin Lightning Network to provide rapid transaction settlement with low fees. This enables merchants to reduce typical credit card processing costs, while also benefiting from fast cash flow management. | PYMNTS
Wealthsimple, a Toronto-based wealthtech platform is partnering with Wise Platform, UK-based payment firm Wise's global payments infrastructure to streamline cross-border payments for its users. This partnership enables Wealthsimple's chequing and joint chequing customers across Canada to access low-fee, fast and transparent international payments directly from the Wealthsimple app or website, delivering added convenience for Canadians sending money abroad. Wealthsimple users can now make secure international payments to 30 countries in 10+ currencies from the convenience of their Wealthsimple chequing or joint chequing account. In just a few clicks, Wealthsimple clients can set up a transfer by selecting their recipient, inputting the amount they wish to send in CAD, and selecting which currency they would like their recipient to receive. | Wise Newsroom
Visa launches Stablecoin Payouts Pilot to accelerate access to funds for creators & gig workers. The pilot allows businesses and platforms to send payouts directly to recipients’ stablecoin wallets. For businesses using Visa Direct, payouts can be funded in fiat currency, while recipients can choose to receive their funds in USD-backed stablecoins like USDC, transforming the speed and accessibility of global payouts. This innovation expands the reach of Visa Direct by providing creators, freelancers, and marketplaces with a stable store of value and faster access to funds – even in markets facing currency volatility or limited banking infrastructure. | Fintech Finance News
Mastercard and Singapore-based Thunes, the Smart Superhighway to move money around the world, have teamed up to accelerate global money movement for banks, payment service providers and end-users by expanding stablecoin wallet payout capabilities. Through this strategic collaboration, Mastercard Move will enable near-instant payouts to stablecoin wallets via Thunes’ Direct Global Network, harnessing the speed, liquidity, and 24/7 availability of regulated stablecoins. Through this alliance with Thunes, it will offer stablecoin wallets as a new endpoint – giving banks and payment providers greater flexibility in delivering funds, while offering end-users more choice in how they receive them. | Fintech Finance News
PayPal launches "PayPal Pay in 4" an interest-free, no-fee, BNPL solution for Canadians. Starting this holiday season, Canadian shoppers can access a more flexible payment option across millions of online Canadian and global lifestyle, consumer, and travel brands, just in time for Black Friday, Cyber Monday, and Boxing Day. With PayPal Pay in 4, there are no late fees, sign-up fees, or hidden costs—just predictable installment payments that make holiday shopping less stressful and more manageable. This holiday season, PayPal is partnering with Cadillac Fairview, enhancing the holiday shopping experience with the flexibility of PayPal Pay in 4 with online purchases. | Fintech Finance News
FIS, US-based global FinTech firm launches innovative asset servicing management suite to unlock operational efficiency across asset servicing. FIS Asset Servicing Management Suite, is a comprehensive suite of automated and integrated solutions which help unlock operational efficiency across all areas of asset servicing. The suite combines the traditionally separate critical functions of corporate actions processing, proxy voting, class actions claims, operational claims and tax reclaim management to revolutionize asset servicing, creating a seamless experience which helps capital investment to work more efficiently. The unified platform can replace the need for multiple vendors and minimizes data fragmentation, providing accurate and streamlined data to provide better insights. | Fintech Finance News
Adyen expands in-person payments offering with launch of two new terminals: the S1E4 Pro and S1F4 Pro. Designed to thrive in challenging environments across various sectors including retail, food & beverage (F&B), hospitality and beauty & wellness, the introduction of these latest terminals marks the latest step forward for Adyen’s in-person payments solutions. The S1E4 Pro is an all-in-one mobile POS built with a durable design to thrive in the most demanding environments, from busy restaurants and bars to high-volume event venues. Meanwhile, the S1F4 Pro functions seamlessly as a dedicated countertop POS when seated in its dock, or as a fully mobile terminal for service on the floor when not docked. | Fintech Finance News
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Meridian Credit Union partnered with Toronto-based Conscious Economics, a not-for-profit social enterprise to launch 'Well with Money', a new, free online program to help Canadians explore and improve their financial wellness. Well with Money includes a mix of interactive videos, tools and worksheets to guide Canadians through an exploration of their unique underlying money patterns and triggers, so that they can start to realign their money decisions around their personal values. | Meridian Credit Union
DBS and Kinexys by J.P. Morgan to develop framework for interbank tokenised deposit transfers across multiple blockchains. DBS and Kinexys by J.P. Morgan are exploring the development of an interoperability framework to enable tokenised value transfers between both banks’ on-chain ecosystems – DBS Token Services and Kinexys Digital Payments. The framework aims to enable the seamless exchangeability and settlement of tokenised deposits across both public and permissioned blockchains, with the aim to set a new standard for the industry. This will potentially allow the combined institutional client base of Southeast Asia’s and the United States’ largest bank respectively to pay each other, and exchange or redeem their tokenised deposits across either banks’ platform, across borders with real-time round-the-clock availability. | Fintech Finance News
Meridian Credit Union launches OnYourWay -- a new advice experience designed to help members feel more confident about their money. Bringing together financial planning tools, real-time insights, helpful resources, and human support, OnYourWay gives people a clearer picture of their financial health and the personalized guidance they need to move forward--on their own terms. | Newswire
TD Bank collaborated with US-based Empathy, a technology company that helps individuals navigate life's toughest moments, to offer post-loss care to eligible clients who are using TD's estate settlement services. The eligible clients also include executors of an estate and their families. This support includes around-the-clock access to trained Care Managers and tech-enabled guidance through the many steps that follow a loss. Empathy is available on a complimentary basis for eligible TD Estates clients. The TD Estates team is able to support with financial disbursements, while Empathy offers digital tools and Care Managers. | TD
TD invests $1M to local organizations to help break down barriers for newcomers to Canada. Funded through the TD Ready Commitment, these grants will support 14 organizations that are working to make a tangible impact on newcomer settlement, financial education, and social integration. Funding supports local organizations that aim to help immigrants and refugees build connections, gain financial knowledge, and thrive in Canadian communities. | TD
J.P. Morgan’s USD-denominated deposit token JPM Coin (JPMD) is now available for J.P. Morgan’s institutional clients’ use on Base, the Ethereum Layer 2 blockchain built within Coinbase. JPM Coin provides J.P. Morgan’s institutional clients with the option to make onchain native digital payments, which serve as a digital representation of a bank deposit on public blockchain. This will help meet the growing demand from both digitally native and traditional firms that want to engage further in the digital assets space with faster and easier money movement on public blockchains. J.P. Morgan’s institutional clients can use JPM Coin to make near real-time peer-to-peer transfers between Ethereum Virtual Machine (EVM)-compatible wallets, providing the flexibility to transfer funds securely and efficiently with minimal delay. J.P. Morgan’s deposit token is also designed for integration with smart contracts on public blockchain networks, which could help facilitate complex financial workflows and automation in the future. | JP Morgan
RBC Global Asset Management announces leadership transition: Stu Kedwell to be appointed as Global Chief Investment Officer. Dan Chornous, current Global Chief Investment Officer is retirirng effective January 31, 2026. Succeeding him will be Stu Kedwell, who will assume the role of Global CIO, ensuring a seamless transition and continuity in the firm's investment management leadership. Mr. Kedwell is a seasoned investment professional with nearly 30 years of experience at RBC. In his current role as Managing Director, Senior Portfolio Manager, and Global Head of Equities, Mr. Kedwell has a proven track record, and a steadfast commitment to the firm's culture. | RBC
Beem, Kelowna-based credit union launches Digital Onboarding, powered by strategic partnership with VeriPark, UK-based customer experience suite provide. The new features include real-time account opening, personalized dashboards, and enhanced self-service tools, all designed to put control back in the hands of members. Building on the success of its next-generation digital banking platform powered by VeriPark launched earlier this year, Beem now offers a seamless onboarding experience that empowers members to join and engage with the credit union from anywhere, at any time. | Beem Credit Union
BMO launches new CDRs with exposure to U.S. Stocks including PayPal, Micron, McDonald's, JPMorgan and Coinbase. BMO's new CDRs will trade under the following tickers: PayPal Holdings, Inc. Common Shares (ZPYP), Micron Technology, Inc. (ZMIC), McDonald's Corporation (ZMCD), JPMorgan Chase & Co. (ZJPM), Coinbase Global, Inc. (ZCOI). | BMO
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Manulife launches global 'Longevity Institute' committing $350M by 2030 to accelerate progress on lifelong health and financial resilience. The Longevity Institute, is a global platform that will seek to drive action to help people live longer, healthier, and more financially secure lives. The Longevity Institute will focus on igniting global research and thought leadership to better understand how people can flourish as they live longer; accelerating innovation and advocacy through initiatives that promote health, wellness, and financial readiness; and investing in community partnerships that advance knowledge, promote equity, and drive action around longevity. | Manulife
QuickFacts, a Nova Scotia–based SaaS platform for insurance brokers, expanded its partnership with Definity, the Waterloo-based P&C insurer, enabling brokers to access Economical Insurance and Family Insurance products directly through the QuickFacts platform. QuickFacts reduces calls to underwriters and business development teams while cutting down requests from portal registrants. After integration, carriers gain an insights dashboard and can share broker-facing information at no cost. With clearer guidance on complex topics, brokers are more likely to place business across a broader range of products. Carriers also benefit from direct portal links, frontline educational advertising, and less time spent maintaining internal documents. | Insurance-Canada.ca
CRU GROUP, Toronto-based claims management platform for P&C industry acquires select assets of Specialty Risk & Intelligence Services (SRIS), a Toronto-based investigation firm providing corporate intelligence, claims investigations, and legal support services to insurers, law firms, and private equity clients. The addition of SRIS expands CRU GROUP’s capabilities by integrating investigative and intelligence services into its core offerings. This move positions the company to better support clients with complex claims and litigation needs in both Canada and the U.S. | Insurance-Canada.ca
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Coinbase withdraws its proposed $2B deal to buy BVNK, a UK-based enterprise-grade stablecoin payments infrastructure provider.The deal had fallen through, saying that both parties mutually agreed not to move forward with the transaction. The reasons for ending the talks were not disclosed. The exit of Coinbase from negotiations clears the way for Mastercard and other possible suitors to make an offer. BVNK processes over $20 billion annually for global enterprises and payment service providers including Worldpay, Flywire, and dLocal and provides a unified wallet for businesses to send, receive, convert and store stablecoins and fiat with compliance and scalability. | Finextra
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Bloom Finance, Toronto-based reverse mortgage provider launches SafeRate, Canada’s first lifetime fixed rate reverse mortgage. SafeRate is designed to give older Canadians financial certainty, flexibility, and peace of mind, helping them feel confident in the choices they make for themselves and their families. By combining lifetime fixed rates that provide long-term stability, with the freedom to move, along with family-friendly protections, Bloom offers the most consumer-friendly reverse mortgage in Canada, allowing Canadians aged 55+ to stay in control over their financial future. | Business Wire
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OneVest, Calgary and Toronto-based wealth management platform introduces enhanced multilingual capabilities, supporting global wealth managers with more inclusive advisor & client experiences. OneVest’s localization feature supports English, French, and Spanish today, with Simplified Chinese, Japanese, Arabic, and Portuguese launching in early 2026. This expansion will enable RIAs, home offices, and enterprise firms to serve increasingly diverse households and regions with ease. This expansion builds on OneVest’s modular architecture to help firms scale confidently into new markets, meet regulatory expectations, and offer a premium experience to every client, regardless of language. | OneVest
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KOHO, Vancouver-based challenger bank becomes one of the first Canadian FinTechs registered as a Payment Service Provider with the Bank of Canada. KOHO’s registration formalizes its deepest commitment to ensuring the highest level of security, trust, and transparency of customers’ money. Under the Bank of Canada, KOHO now operates within a nationally recognized framework designed to safeguard user funds, manage operational risks, and ensure ongoing accountability and reporting compliance. | Fintech.ca
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Digitail, an US-based all-in-one cloud software for veterinary clinics is expanding its Toronto hub on the tail of $23M USD ($32M CAD) in Series B funding. The funding will help Digitail to bring its veterinary software to more clinics across North America to meet. The company is planning to use the funds to invest in its software product and hire more widely for its go-to-market efforts.Digitail serves clinics across Canada, including Québec, with French-language versions of its software. Digitail now has a third of its team working out of its new Toronto hub as it focuses its go-to-market efforts on the growing North American pet-care industry. | BetaKit
Clio, Burnaby, BC-based legal tech platform secures $500M USD Series G and another $350M in debt as it completes vLex acquisition. A “substantial” portion of the $850 million USD was used to fund Clio’s purchase of vLex, but did not disclose the exact amount. Clio’s all-equity, all-primary capital Series G came at a $5-billion USD post-money valuation. The firm’s $500-million Series G was led by New Enterprise Associates, with support from fellow existing American backers TCV, Goldman Sachs Asset Management, Sixth Street Growth, and JMI Equity, while its $350-million debt facility was co-led by US-based Blackstone and Blue Owl Capital. | BetaKit
QuickBooks introduces AI Agents, a Customer Hub, a redesigned interface, and a reimagined suite of connected tools to help businesses run and grow smarter and faster. The Accounting Agent automates bookkeeping and categorization to help keep accounts clean. The Customer Agent finds leads directly from inbox, prioritizes high-value opportunities, drafts responses, books meetings, and tracks customer opportunities across the full sales cycle. The Finance Agent compiles real-time summaries of profit and loss, cash flow, and balance sheets. And the Project Management Agent auto-fills key details for draft projects to cut down on manual data entry. QuickBooks also introduced a redesigned interface and menu that make it easier to find what businesses need, an AI-powered business feed that suggests tasks to improve efficiency, and access to human support whenever needed, which make the platform feel like there’s a larger team behind the business owners. | BetaKit
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