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WonderFi acquiring Bitbuy, Canada’s first regulated crypto marketplace (BETAKIT)
Kevin O’Leary-backed crypto company, WonderFi, is acquiring First Ledger Corp, the parent company of the cryptocurrency trading platform Bitbuy, for approximately $260 million CAD in shares and cash. Bitbuy is one of only two registered trading platforms in Canada — CoinSmart recently became the second.
OpenSea valued at $13.3 billion in new round of venture funding (NEW YORK TIMES)
The new round of funding, led by the investment firms Paradigm and Coatue Management, brings the startup’s valuation to a staggering $13.3 billion just four years after it was founded.
Xero to acquire Calgary’s TaxCycle in $75 million CAD deal to expand Canadian presence (BETAKIT)
The announcement is the latest in a series of moves that Xero has made to expand its Canadian presence, beginning with its acquisition of Toronto-based document management startup Hubdoc in 2018 for $70 million USD, which saw Xero establish an office in Toronto that it later named as its North American tech hub.
Payroll startup PayFit is France’s latest unicorn as it raises $289 million (TECHCRUNCH)
General Atlantic is leading the round, while some of PayFit’s existing investors are participating once again, such as Eurazeo, Bpifrance’s Large Venture fund and Accel.
Findings in SVB’s global healthtech report mirror 2021 trends in Canada (BETAKIT)
A new report from Silicon Valley Bank has identified key insights within the global healthtech landscape from 2021.
Mogo filing says relationship with Coinsquare is delaying CSA exemption (BETAKIT)
According to Mogo’s filing, given its business model, trade flow process, and relationship with exchange partner Coinsquare, its quest for exemptive relief and registration as a restricted dealer of cryptocurrency assets remains ongoing. The news follows the FinTech firm’s recent launch of its new stock-trading app.
How the Bank of Canada is preparing to regulate payment companies (THE LOGIC)
In his work at the Bank of Canada over nearly three decades, Ron Morrow has overseen the country’s largest financial institutions, helping ensure the stability of the system. His latest assignment is a little different: leading the central bank’s efforts to regulate tech companies and other businesses that handle small payments directly for consumers.
Trulioo sees crypto firms lean toward compliance verification as regulatory environment changes (BETAKIT)
Evans’ comments came during an interview with BetaKit to announce that Trulioo has signed six new customers in the crypto space, ranging from digital asset issuers to exchanges.
Hybrid workers are vulnerable to cyberattacks. Here’s how employees can play defence at home and in the office (BETAKIT)
Andrew Milne of cybersecurity analytics company Field Effect explains how employees can partner with their employers to keep sensitive information secure.
Victims of $200 million hack of BitMart crypto exchange still waiting to get their money back (THE VERGE)
It’s been over a month since the hack happened.
Hubly raises $1.7 million CAD to help financial services firms improve their productivity (BETAKIT)
The startup’s seed round was co-led by Mucker Capital and OCA Ventures. Including the new financing, Hubly has raised $2.2 million in funding to date.
Why Benevity’s new CEO Kelly Schmitt is already thinking about her successor (BETAKIT)
On the #CIBCInnovationEconomy podcast, Benevity CEO Kelly Schmitt explains why she was already thinking about identifying her successor six months into the job.
NFTs move to influence Congress, even if lawmakers have no clue what they are (POLITICO)
For the first time, a company has registered to lobby the federal government on non-fungible tokens.
Hardbacon acquires India-based financial calculator Findmytotal.com (BETAKIT)
According to CEO Julien Brault, the acquisition of Findmytotal.com further expands Hardbacon’s FinTech product suite.