Shakepay Secures CIRO Status, Joins Payments Canada

Sections

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 coincides 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.

“CIRO regulation marks a defining moment for Shakepay and bitcoin adoption in Canada. This is a major step forward in providing our customers with the trust and peace of mind they deserve. Joining CIRO means we’re adhering to the same standards as the investment dealers of the country’s top financial institutions, reinforcing our promise to deliver a safe, transparent, and seamless bitcoin experience for all.” – Jean Amiouny, CEO, Shakepay

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. It sets a new industry benchmark.

Shakepay’s CIRO membership enhances its credibility and operational capability. It offers customer protections like 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. Bitcoin remains highly affected by these developments as Shakepay’s primary offering.