The company is the third fintech and the first crypto firm to become a member of the organization, which oversees the country’s essential payment systems and has historically only been open to banks, central credit unions and select other financial institutions. (The Logic)

Talking point: In a release, Shakepay said Payments Canada membership will help it gain access to the forthcoming Real-Time Rail, along with other payment systems that will help its customers conduct fast and seamless transactions. Shakepay is increasingly expanding into bank-like services like direct deposits, bill payments and e-transfers alongside its crypto offerings. Payments Canada is planning to open its membership to a wider range of non-bank firms, which would make it easier for them to build products that connect to banks and payment networks. Shakepay’s access to Payments Canada’s systems only applies to its Canadian dollar products, meaning sending bitcoin to Canadian bank accounts is still a pipe dream for now.