FINTRACActive
Canada Crypto Asset Exchange Registration (MSB)
Wealthsimple
Regulated in Canada
Crypto Asset Exchange Registration (MSB)
Global Business
Basic Information
Country/RegionUnited States
Exchange AbbreviationWealthsimple
Company NameWEALTHSIMPLE INVESTMENTS INC.
Operating Period5-10 years
Websitehttps://www.wealthsimple.com/
Trade TypeFiat Trading
RiskNotice
2 risk alerts
- License No.
- M23997457
- Regulatory Jurisdiction
- Canada
- Licensed Entity
- WEALTHSIMPLE INVESTMENTS INC.
- Effective Date
- 2023-11-28
- Sharing Status
- No
Exchange Overview
Exchange Overview
What is Wealthsimple?
Wealthsimple is a one-stop financial platform in Canada that allows spending, trading, and investing, positioning itself as offering more services than a bank.
Platform Features
The platform offers cashback on spending (2% cashback on shopping), zero-commission trading, investment portfolios such as Summit and Classic, and banking functions like checking accounts.
Business Region
InfluenceAAA0
2
4
6
8
10
News
Wealthsimple launches Kalshi-powered prediction market app for Canadian investors
Canadian fintech Wealthsimple is launching a prediction markets app powered by Kalshi, giving that countrys retail investors access to thousands of event-based contracts following regulatory approval earlier this year. The standalone app, called Wealthsimple Predict, is scheduled to launch this summer and will offer Canadian users access to about 4,000 event contracts listed on Kalshi across categories including financial markets, economic indicators and climate. Source: Kalshi The Canadian Investment Regulatory Organization (CIRO) in March authorized the firm to offer prediction market contracts tied to those categories. It is the second investment dealer authorized by CIRO to offer prediction market trading in Canada. The contracts will be regulated as derivatives and must have settlement periods of at least 30 days. The Canadian rollout comes as Kalshi expands beyond prediction markets. On Thursday, the company said that its perpetual futures products were now live for trading, following a May 31 announcement that marked the companys entry into the crypto perpetual futures market. Source: Kalshi CME pushes back against CFTCs crypto derivatives stance Kalshis expansion beyond prediction markets is already facing pushback from established derivatives exchanges. On Thursday, CME Group sued the US Commodity Futures Trading Commission (CFTC) over its approval of cryptocurrency perpetual futures contracts offered by Kalshi and similar
Wealthsimple brings 4,000 Kalshi prediction market contracts to Canada
Wealthsimple has secured approval to offer roughly 4,000 prediction market contracts in Canada, expanding retail access to event-based trading through a new partnership with Kalshi. According to Wealthsimple, the company plans to launch a standalone prediction markets platform called Wealthsimple Predict this summer, giving Canadian investors access to thousands of contracts listed by Kalshi across categories such as financial markets, economic data, and climate-related events. Prediction markets are coming to Canada. For the first time, millions of Canadians will be able to trade whats next through Wealthsimple. The rollout follows authorization from the Canadian Investment Regulatory Organization in March. Under the approval, Wealthsimple became the second investment dealer permitted to offer prediction market contracts in Canada. CIRO said the products will be regulated as derivatives and must carry settlement periods of at least 30 days. Wealthsimples launch arrives as prediction markets continue to attract attention from regulators, lawmakers, and traditional exchanges in several countries. While Canadian authorities have allowed the products under an established derivatives framework, regulators elsewhere remain divided over how such contracts should be classified. Kalshi expands beyond prediction markets At the same time, Kalshi has continued pushing into crypto-linked derivatives. The company announced on Thursday that its perpetual futures products are now available for
Instagram Looking to Implement NFT Collectibles on User Profiles
Instagram appears to be working on implementing NFT features on its app according to mobile developer and leaker Alessandro Paluzzi. The mobile developer has a knack for finding mobile updates ahead of time. Instagram could be looking to implement its own form on non-fungible tokens in the upcoming future according to Paluzzi. Paluzzi commented on his findings on Twitter, showing potential updates to both Twitter and Instagram. Both platforms appear to be looking to implement big updates to their current offering. Twitter could be looking to add two new services in Chipper Cash and Wealthsimple. Instagram collectibles More importantly, Paluzzi mentioned that “Instagram continues to work on Collectibles. Here‘s the onboarding screen,” he stated. According to the developer’s sleuthing, Instagram posts that offer NFTs, will have the “Collectible” label on it. This will show users that there is a purchasable NFT on the post. Instagram has yet to publicly announce the launch of an NFT offering on its platform. However, the company has made mention of potentially adding payment features into the platform. Head of Instagram, Adam Mosseri has previously spoken about tools that could help creators make a living through the app. Instagram discusses monetization for creators Mosseri was speaking at Instagram‘s Creator Week
