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Introducing The Web3 Brief 🚀 your essential monthly digest for Web3 innovation & policy in Canada
Stay informed about the latest Canadian policy developments, Web3 commentary, and key updates from the Canadian Web3 Council!
Link to subscribe in the replies 👇
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What could tokenized ETFs look like in Canada?
A new article in @IE_Canada explores different approaches, from third-party tokens that provide exposure to existing ETFs to units issued by fund managers themselves.
It also looks at questions around settlement, liquidity and pricing, as Canadian securities regulators examine tokenized financial products through CSA Project Tokenization.
Read the full article ⬇️
investmentexecutive.com/news…
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Tokenization of securities is included in the SEC’s examination priorities for fiscal year 2027, published October 23.
Examiners will look at tokenization and extended trading hours as part of their reviews under Regulation SCI.
Read the SEC’s examination priorities ⬇️
sec.gov/newsroom/press-relea…
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South Korea is looking at where stablecoins fit in its foreign-exchange rules. According to The Block, the Bank of Korea is working with the government on a bill that would classify them as payment instruments and provide for monitoring cross-border digital asset transactions.
The aim is to prepare the bill this year.
Read The Block’s report ⬇️
theblock.co/news/regulation/…
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The UK and Singapore discussed their respective tokenization projects yesterday, alongside the use of digital money to settle institutional transactions.
Where would closer cooperation with other jurisdictions help Canadian firms bring products to market?
Read the joint statement ⬇️
gov.uk/government/publicatio…
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In CW3’s first Member Spotlight, @Aquanow CEO and Co-Founder Phil Sham discusses what financial institutions need to launch digital asset services in Canada.
Our new series introduces the people building Canada’s digital asset sector. Each guest also leaves a question for the next, bringing their own curiosity into the interviews.
Thank you to Phil, Alessia Monarca and the Aquanow team for opening the series 👏
Read our first spotlight ⬇️
web3canada.ca/member-spotlig…
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How should digital assets be disclosed in family law proceedings?
@MetricsCPA looks at the practical questions Canadian professionals face when identifying and valuing these holdings.
Learn why cryptocurrency and other digital assets belong on the financial statement, how common they are in Canada, and how to identify and describe these holdings so valuation, disclosure, and tax analysis can follow.
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USDC is the first stablecoin the EU labels “significant” under MiCA.
The EBA starts reviewing Circle’s reserve itself on Nov 12, and it signed an info-sharing deal with New York’s DFS.
Read the press release ⬇️
eba.europa.eu/publications-a…
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Thank you to @chainalysis for inviting Canadian Web3 Council to contribute to the Canadian section of its latest North America report.
x402 is a payment rail that lets AI agents spend money. By September 2026, 87% of x402 payments were under $0.10.
See what else AI agents are buying: chainalysis.com/blog/north-a…
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The Alberta Securities Commission will host ASC Connect on October 27 in Calgary, with discussions on capital markets and Canada’s competitiveness.
CW3 member Coinbase Canada’s @ericrichy will join the panel “Building a leading and trusted innovation ecosystem in Canada,” exploring how regulation can support experimentation and help innovative companies scale.
Agenda and registration link. ⬇️
asc.ca/en/asc-connect-2026
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A team’s ability to pause a DeFi protocol raises a question in the MiCA review about whether it is providing a regulated service.
EEI argues that the existence of a pause function or time-locked upgrade is not enough. The assessment needs to examine whether those powers allow a person or group to perform or direct a regulated service.
The paper applies similar reasoning to providers connecting clients to DeFi. They should answer for their own negligence, system failures and misleading disclosures. EEI argues that giving clients access to a protocol should not make providers responsible for guaranteeing it when they neither operate nor control it.
Read the EEI position paper⬇️ drive.google.com/file/d/1kA0…
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Canada’s new Financial Crimes Agency will prioritize digital-asset tracing, deputy minister Rob Stewart told @globeandmail. Bill C-29, which would create the agency, is now at committee.
theglobeandmail.com/business…
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Circle and SAP-backed Tereina are working to bring stablecoin payments into the software businesses already use.
The pair announced the partnership on October 7. With USDC and EURC added to Tereina’s platform, companies would be able to make and receive payments in either stablecoin from their existing applications.
Canada’s stablecoin framework needs to account for how companies would use these services in their day-to-day operations. Businesses will need to understand which providers they can work with and what requirements apply when using stablecoins for payments.
Read the full article ⬇️
circle.com/pressroom/tereina…
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Congratulations to the teams at @TetraDigitalGrp and RemitBee on today’s announcement 👏
An exciting development for Canadian-dollar stablecoin payments!
CADD can now be used to fund global business payments across 100+ countries.
Canada’s digital dollar is now live on RPass by @Remitbee, connecting CADD to the FX, banking, clearing and local payout infrastructure businesses need to move money internationally.
Through a single RPass integration, businesses can:
- Fund eligible international payments using CADD
- Access FX conversion through RPass
- Reach 4B+ bank accounts through 1,000+ local payout methods
- Embed international payments directly into their products and workflows
“Stablecoins have solved how value moves on-chain, but a token is only as useful as the places it can go,” said Yogi Yoganathan, CEO, RPass. “We spent a decade building the unglamorous parts of global payments: the banking relationships, the liquidity, and the clearing connections in every corridor. Connecting RPass to CADD means a Canadian business can fund a payment in digital Canadian dollars and have a supplier on the other side of the world receive funds in their local currency.”
Read the full announcement: businesswire.com/news/home/2…
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In Calgary this week?
CW3 members @TransactixInc and @TetraDigitalGrp are speaking at the Canada FinTech Symposium, which runs October 7–8 at the BMO Centre.
You can catch Ali Abou Daya, CEO of Transactix Financial, at 10:30 a.m. discussing how funds, private credit, commodities and real estate are being brought on-chain. Tetra Digital Group’s Rishi Narula is speaking at 11:30 a.m. about cross-border payments, joining representatives from Mastercard, Paysend and RPass by RemitBee. Times are local to Calgary.
If you’re heading over, say hello to Ali and Rishi. With builders and leaders from across Canadian finance in attendance, there should be plenty to talk about between sessions.
See the agenda and speakers ⬇️
canadafintechsymposium.com/
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5% of Canadians used cryptocurrency for payments in 2025, up from 3% in 2024. Among those aged 18–34, usage rose from 4% to 10%.
New Canadian payments data from Payments Canada⬇️ payments.ca/canadian-payment…
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Back-to-school season has been busy, even for those of us who only handle the school drop-off.
If you missed it, CW3 member 3iQ has been sharing a seven-part educational series on institutional digital assets. Part five explores how institutions size allocations and manage risk within their portfolios.
Catch up below. No permission slip required ⬇️
It’s Back to School: Institutional Digital Assets Edition
This is Part 5 of our seven-part educational series exploring the institutionalization of digital assets and how the conversation among institutional investors has evolved over the past decade.
As digital assets become more integrated into institutional portfolios, the focus increasingly shifts from participation to portfolio management.
Lesson 5: How do institutions size the allocation and manage risk?
How are allocations funded, risk-budgeted, monitored, and integrated within broader portfolio objectives?
Read Part 5: blog.3iq.io/news-insights/th…
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What role could Canadian-dollar stablecoins play in cross-border payments?
Our member @TetraDigitalGrp's @didiertetra joined @sunnyray to discuss that question, including how people could access these services through financial products they already use.
Watch the conversation below ⬇️
One in five Canadians sends money back home, but moving money across borders can still be expensive, slow and more complicated than it needs to be.
Stablecoins improve that experience, but for Canadians, the options available today are still largely U.S.-dollar based.
In this clip from The @sunnyray Show, @didiertetra explains why cross-border payments are such an important use case for domestic stablecoins, and how that experience can improve as the technology becomes easier to access through the financial products people already use.
This is just one area where CADD can make a big difference: giving Canadians and the institutions serving them an efficient Canadian-dollar option for cross-border payments.
Watch the full clip below.
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Bancomat, Bizum, Wero, Sibs-MB WAY and Vipps MobilePay have formed the European Network for Payments to connect their services, which together serve around 130 million users in 13 countries.
The rollout will begin with cross-border person-to-person payments, followed by online and in-store purchases. Consumers will be able to keep using their preferred apps, connected through a shared hub for instant account-to-account payments.
The partners want Europe to have more control over its payments. Canada faces similar decisions about who operates its payment infrastructure and how Canadian services connect with networks abroad.
Read more in Finextra ⬇️ finextra.com/newsarticle/485…
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HSBC has chosen the name HSBC RedCoin for its Hong Kong dollar stablecoin. The bank plans to launch it later this year, following the Hong Kong Monetary Authority's approval of its issuer licence in April.
HSBC surveyed customers about stablecoins. Twenty-six per cent believed they were government-issued. Its planned public education series will cover scams and how redemption works. In Canada, Bank of Canada Governor Tiff Macklem has called for redemption terms to be disclosed, including how and when holders can exchange stablecoins for money.
Read more ⬇️
about.hsbc.com.hk/news-and-m…
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