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Canadian Tech in 100 Words

Wealthsimple Doubles Assets to $100B in 2025

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Wealthsimple chief executive Michael Katchen says 2025 marked a milestone year for the Toronto-based fintech, as assets under administration surpassed $100 billion, doubling in 12 months. In a year-end memo, Katchen said the firm added more than 650,000 clients, with users gaining $10 billion through market appreciation and earning $200 million via high-interest chequing accounts.

Wealthsimple expanded its platform with features including mobile cheque deposit, USD savings, international transfers, margin trading, options strategies, and self-directed RESPs. The company also raised nearly $1 billion at a $10 billion valuation while remaining profitable. In 2026, Wealthsimple plans to scale advice and broaden access to sophisticated investment opportunities.

Want to know more? Check out the source code on Fintech.ca.

Court Orders Shopify to Preserve Merchant Data

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Shopify must preserve merchant records during an appeal of a tax dispute with the Canada Revenue Agency, the Federal Court of Appeal ruled. The order pauses Shopify’s practice of deleting inactive files after two years while Ottawa challenges a 2023 ruling that limited its data request.

Judge Nathalie Goyette criticized the government’s delay in seeking preservation and called its arguments unclear, questioning claims of irreparable harm. Still, she said maintaining potential evidence during an appeal serves the public interest as the CRA presses its case over merchant tax reporting continuing.

Want to know more? Check out the source code on The Logic.

Shopify Merchants Gain Direct Access to Temu Marketplace

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Temu has launched a new app allowing Shopify merchants to list and manage products on Temu directly from their Shopify accounts. Available through the Shopify App Store, the app provides access to Temu’s Local Seller Program across more than 30 markets, including Canada, the United States, the United Kingdom, Germany, Spain, and Australia.

Merchants can synchronize product catalogs, manage inventory, and coordinate fulfillment from a single interface. Temu introduced its Local Seller Program in 2024 to support in-market fulfillment and faster delivery. The company said the integration lowers operational barriers and helps businesses reach new customers without building separate infrastructure.

Want to know more? Check out the source code here.

CADD Stablecoin Moves Between Banks in Milestone Trial

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Canadian fintech Tetra Digital Group says CAD Digital has completed testnet transactions for CADD, a fiat-backed Canadian-dollar stablecoin targeting a Q1 2026 launch. Tests moved CADD between Wealthsimple and National Bank and across Purpose, ATB Financial, and others, marking the first inter-institution transfers of a CAD stablecoin.

Tetra says CADD will be issued by a financial institution, backed one-to-one by Canadian dollars held domestically, and built on regulated custody and compliance rails. New design partners include Aquanow, Cybrid, Float, KOHO, Sling Money, Tempo, and WealthONE, expanding development amid stablecoin rules.

Want to know more? Check out the source code on Fintech.ca.

Toronto Fintech Brings Compliance to AI Transactions

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Chimoney is moving regulated payments into the age of AI. The Toronto fintech is now a registered Payment Service Provider under Canada’s Retail Payments Activities Act, overseen by the Bank of Canada. The approval allows production-ready wallets for people and autonomous agents, with verifiable identity, audit trails, and bank-grade compliance.

Founder Uchi Uchibeke said the platform enables safe agent-to-agent transactions as AI systems proliferate. Chimoney supports Interac, 25 stablecoins and blockchains, and cross-border payouts, and works with the Interledger Foundation. The company has joined Google Canada’s accelerator and Techstars programs.

Want to know more? Check out the source code on Fintech.ca.

Canadian Law Firms Move Cautiously on Generative AI

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Canadian law firms are cautiously approaching generative artificial intelligence, according to a new national survey by Best Law Firms. The study found that 80% of firms with more than 20 lawyers are researching or piloting AI tools, but only 7% have fully implemented them across multiple practice areas. About one in 10 firms said they have no near-term plans to adopt AI.

Larger firms are leading experimentation, primarily using AI for legal research and client pitches, while far fewer apply it to litigation analysis. Ethical concerns, including hallucinated case law, remain a significant barrier. The survey covered 344 firms employing more than 14,800 lawyers nationwide.

Want to know more? Check out the source code on BestLawyers.com.

Calgary Crypto Custodian Balance Expands Into U.S.

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Calgary-based crypto custodian Balance has acquired Wyoming digital asset firm DVTR, expanding its services across most U.S. states. Financial terms were not disclosed. Balance is one of only three Canadian companies registered as qualified crypto custodians, allowing it to store and manage digital assets for financial institutions.

The acquisition comes as banks in Canada and the United States increase crypto experimentation amid easing regulations. In July, Balance began providing bitcoin custody for clients of Alberta’s Bow Valley Credit Union. The DVTR deal will enable Balance to support stablecoin issuance, tokenized deposits, and digital asset credit card payments for institutional customers.

Want to know more? Check out the source code on The Logic.

SCALE AI Unveils Record $128M Funding Round

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SCALE AI has announced more than $128 million in investments across over 40 projects, marking the Canadian AI cluster’s largest funding round to date. The projects span healthcare, manufacturing, transportation, energy, climate, and public infrastructure, aiming to improve productivity and operational efficiency. Industry Minister Mélanie Joly said the initiative reflects a nationwide approach to AI-driven economic growth, while AI Minister Evan Solomon highlighted benefits for living standards.

Funded efforts include AI-powered outage management by Alectra and Hydro Ottawa, battery optimization software from Calgary’s Arcus Power, and tools modernizing Canada’s lumber sector. SCALE AI chief executive Julien Billot said the projects will strengthen Canada’s economic resilience.

Want to know more? Check out the source code on CleanEnergy.ca.

New Federal Program Brings AI Skills to Earth Sciences

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The Alberta Machine Intelligence Institute has launched a national scholarship program to strengthen artificial intelligence skills among Canada’s future environmental professionals. Supported by Environment and Climate Change Canada, the AI for Earth Scholarship Program will provide 750 post-secondary students in environmental sciences and meteorology with free access to Amii’s AI Literacy Foundations training.

Participants will complete two machine-learning workshops and 10 specialized modules through an asynchronous platform, earning digital credentials upon completion. Amii said the program targets public-sector and research roles addressing climate and environmental challenges. The initiative builds on Amii’s global AI literacy efforts, which have reached more than 250,000 learners worldwide.

Applications are now open. Want to know more? Check out the source code on Techtalent.ca.

AI Meets Geochemistry as GeologicAI Acquires Lumo

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GeologicAI is expanding its critical-minerals toolkit by acquiring Lumo Analytics and integrating Laser-Induced Breakdown Spectroscopy into its AI platform. The compact LIBS scanners deliver fast, non-destructive geochemical readings in the field, including rare-earth and light elements traditionally hard to detect.

The Calgary company says the deal completes an on-site sensing stack paired with decision modelling after scanning over two million metres of core. Chief executive Grant Sanden said miners need higher-quality data, faster. The acquisition builds on GeologicAI’s recent $60 million Series B as it scales globally across global markets.

Want to know more? Check out the source code on Calgary.tech.