Canadian investment management firm Wealthsimple has officially launched its cryptocurrency trading service, describing it as Canada’s first regulated crypto platform. According to the company, the new offering operates under oversight from the federal government as well as securities regulators across 10 provinces and 3 territories, giving it one of the broadest compliance footprints in the country.
Approved Across Canadian Jurisdictions
The crypto business is operated by Wealthsimple Digital Assets Inc. (WDA), which received regulatory approval from the Canadian Securities Administrators (CSA) on August 7 to launch the platform. The application was made under CSA guidance covering entities that facilitate trading in crypto assets, allowing the firm to seek exemptive relief across all Canadian jurisdictions.
General counsel Blair Wiley said the company is regulated in all 13 provinces and territories, in addition to federal oversight. Outside Québec, WDA is registered as a restricted dealer, while in Québec it is registered as a derivatives dealer. This structure gives Wealthsimple a clearly defined regulatory framework for its crypto operations nationwide.
Bitcoin and Ether Available for Trading
Users can now buy and sell bitcoin and ethereum through Wealthsimple Crypto. The company said there are no minimums and no fees for deposits or withdrawals. However, deposits and withdrawals are limited to Canadian dollars, indicating that the service is built primarily for the domestic fiat on-ramp market.
To access the service, users must open a dedicated Wealthsimple Crypto account. Once set up, they can buy, sell, and hold digital assets within the Wealthsimple Trade app, which also supports trading in stocks, bonds, and exchange-traded funds. The integration suggests Wealthsimple is positioning crypto as part of a broader retail investing experience rather than a standalone product.
Custody Handled by Gemini
Wealthsimple said crypto assets on the platform are held by Gemini Trust Company, a regulated custodian based in New York. The company added that Gemini carries $200 million in cold storage insurance coverage. By relying on an established third-party custodian, Wealthsimple is emphasizing both asset protection and regulatory credibility as it expands into digital assets.
With offices in Toronto, New York, and London, Wealthsimple says it has more than 175,000 users worldwide. The launch of its crypto platform marks a notable step in bringing regulated cryptocurrency trading into Canada’s mainstream retail investment market.