Canada's Wealthsimple aims for real-world cryptocurrency use as it looks beyond trading


FILE PHOTO People walk by a quotBitcoin Decentralquot sign in Toronto May 8 2014.    REUTERSMark BlinchFile Photo

FILE PHOTO: People walk by a "Bitcoin Decentral" sign in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo

TORONTO (Reuters) - Canadian online brokerage Wealthsimple wants to chart a future enabling the real-world use of cryptocurrencies rather than simply facilitating trading, but is likely to face unexpected costs and uncertain regulatory terrain along the way.

Launched in 2014 as a stock-trading platform, Wealthsimple currently has C$15 billion ($11.9 billion) in assets. It added cryptocurrency trading in August 2020 with Bitcoin and Ethereum, and has since added more coins, hosted wallets and inward transfer capabilities, and has said it intends to enable withdrawals.

Subscribe now and receive free sooka plan for 1 month. T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In