Canadian crypto platform Shakepay, led by CEO Jean Amiouny, has secured CIRO investment dealer status, becoming the first crypto exchange in Canada to do so.
Shakepay: First Canadian Crypto Exchange with CIRO Status
Shakepay has recently achieved CIRO-regulated investment dealer status, making it the first crypto exchange in Canada to do so. This milestone coincided with the platform joining Payments Canada. Founded by Jean Amiouny and Roy Breidi, Shakepay has over one million Canadian users. With CIRO regulation, Shakepay now aligns with Canada's top financial institutions.
Regulatory Boost Increases Shakepay’s Trustworthiness
This regulatory recognition increases trustworthiness among users and potential investors, highlighting Shakepay’s role in Canada’s payments infrastructure. Shakepay’s CIRO membership enhances its credibility and operational capability, offering customer protections such as Canadian dollar cash safeguarding up to $1 million through the Canadian Investor Protection Fund.
Shakepay’s Regulatory Milestone Could Shape Canadian Payments
Historically, achieving regulatory recognition such as this can lead to improved compliance and customer protection. Shakepay follows fintechs who gained similar institutional partnerships after regulatory milestones. According to Kanalcoin, these advancements position Shakepay to influence the future of Canadian payments significantly, with Bitcoin remaining highly affected as Shakepay’s primary offering.
Obtaining CIRO status is a significant step for Shakepay, enhancing its reliability and potential influence on the future of crypto payments in Canada.
