F|T: The FinTech Times – FinTech startups say what’s happening in Canada is ‘not normal’

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Payments Canada Delays Launch of Real-Time Rail Payment System (Again) (BETAKIT)

It is the second time Payments Canada has delayed the launch of the system. It first promised to deliver the RTR in 2022, then rescheduled the launch to mid-2023.

No revised timeline was provided by Payments Canada as part of the latest delay announcement. Black said Payments Canada’s members, stakeholders and the broader payments industry must be consulted first.

“At some point we have to realize that what’s happening in Canada is not normal,” Koho CEO Daniel Eberhard said.

Behold, TripActions Raised to $9.2B Value After Reported $12B IPO (TECHCRUNCH)

The deal comes weeks after the Palo Alto-based company was said to have made a confidential filing in the second quarter of next year at a valuation of $12 billion. Totaling $304 million, the Series G funding has been in the works since at least May, confirming earlier Bloomberg reports that the travel company was seeking financing at a higher value.

NorthOne Raises $92.1M CAD to Build New Working Capital, Credit Products (BETAKIT)

The funding, which closed in “late summer,” included participation from Battery Ventures, Don Griffith, retired National Football League player Drew Brees, Ferst Capital Partners, FinTLV, Next Play Capital, Operator Stack, Redpoint Ventures, Tencent and BetterCompany founder Tom Williams .

‘It’s a really big deal’: Coinsquare gets IIROC approval in crypto world first (YAHOO FINANCE)

The new registration will entail a number of changes in the stock exchange. It will have to segregate client funds completely through a licensed and insured custodian, be subject to stricter operational controls, keep more capital available and regularly report on the status of the balance sheet.

It also means that cash held in customer accounts will be insured by the Canadian Investment Protection Funds.

Amid questions about progress, Canada’s open banking chief says implementation ‘absolutely’ remains on track (BETAKIT)

Given the status of the effort to date, some members of the country’s financial services have questioned whether those tasked with implementing open banking in Canada will be able to meet the two-phase, 18-month timeline outlined in the Advisory Committee for Open Banking. – awaited report.

Brex, valued at $12.3 billion earlier this year, lays off 11% of staff as part of restructuring (TECHCRUNCH)

It has been a turbulent year for Brex, which announced in April that it was leaning into the corporate segment. The new focus led the company to announce in June that it would no longer work with small businesses or non-professionally funded startups. The latter news caused a bit of a stir — and some feelings of abandonment — in the startup community, which Brex initially set out to serve.

IP expert Peter Cowan hired as head of Intellectual Property Ontario (BETAKIT)

Cowan has been working as IPON’s boss since late summer, multiple sources confirmed to BetaKit. Those sources, who asked to remain anonymous as they are not authorized to speak publicly on the matter, noted that Cowan has been meeting with members of the ecosystem for several weeks.

Crypto Custodian Copper Raises $196 Million in Series C Funding Round (COINDESK)

The new financing is part of an ongoing Series C investment round in the company. Of the $196 million, $181 million came from new and existing shareholders, while the rest came from a convertible note.

The valuation of the firm was not known, and the company reported a loss of $16 million in 2021, a significant increase from $4.1 million in 2020. Copper did not immediately respond to a request for comment.

Quandri raises $2 million CAD to automate time-consuming, repetitive tasks for the insurance industry (BETAKIT)

Vancouver-based Quandri experimented with the idea of ​​offering bots-as-a-service to small and medium-sized businesses in a variety of different sectors before landing on insurance a year and a half ago.

EU Legislators Pass Landmark Crypto Assets Regulation Bill (DECRYPT)

EU lawmakers today signed the Markets in Crypto Assets Regulation (MiCA) – landmark legislation that hopes to regulate the digital asset space in the Union.

Alberta tech CEOs sign letter claiming restrictions on ‘software engineer’ title hinder province’s talent advancement (BETAKIT)

Companies and startups have written Premier Danielle Smith to protest the “aggressive position” the Association of Professional Engineers and Geoscientists of Alberta (APEGA) has taken on the title of software engineer.

The roughly 30-plus signatories to the letter claim that APEGA unnecessarily regulates the designation of software engineer and has made the position subject to “burdensome, restrictive and unnecessary certification requirements.”

Couple mistakenly given $10.5m by Crypto.com thought they had won competition, court hears (THE GUARDIAN)

A Victorian woman accused of stealing over $10.5 million in mistaken cryptocurrency refunds has been released on bail while awaiting trial, despite claims she tried to flee the country.

26 Canadian tech startups added to list of firms on track for $1 billion in annual revenue (BETAKIT)

Combined with the 35 startups named on Communitech’s first list, which was published in June, the tech hub has now identified a total of 61 privately held Canadian tech firms on track to reach $1 billion in annual revenue, based on each company’s current annual revenue and growth rate.