Fintech In Canada

Abstract

Canada has a stable financial system with large national banks that integrate fintech internally to improve operations, products and service. Because of the size and stability of its major banks, Canada has been criticized as lagging globally in consumer fintech adoption rates and fostering new fintech market entrants. The supervisory frameworks for non-bank fintech firms in Canada has some agency fragmentation costs, which can serve as a barrier to entry for new firms. The following report outlines the law of fintech, as it applies in Canada, including the regulatory frameworks for fintech money (e-money, virtual currency and electronic payments); fintech financings (initial coin offerings, peer to peer lending and invoice trading); and fintech financial services (smart contract investing, robo-advisors, algorithmic trading and market automation, artificial intelligence, decentralized autonomous organizations, and crypto hedge funds).

Keywords: fintech, fintech regulation, financial technology, cryptocurrency, bitcoin, fintech credit, marketplace lending, robo-advisor, open banking, ICOs

JEL Classification: K22