Overview
Shakepay is a Canada-focused platform that lets residents buy, sell, and manage Bitcoin and Ethereum via a mobile app and web interface. It earns revenue from transaction fees and spreads on buy/sell orders, and it offers a Shakepay Card—a prepaid Visa that converts crypto to Canadian dollars at the point of sale. The service emphasizes security and finality of transactions, with a straightforward user experience tailored to Canadians. Its goal is to help Canadians trade, hold, and spend crypto easily within a regulated local environment.
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Simplify's take
What believers are saying
- BLOC launched August 13, 2026, expanding revenue beyond spreads into credit economics.
- Savings accounts on August 2026 pay weekly bitcoin interest, deepening daily app engagement.
- Shakepay’s 1.5 million-user scale and 2025 regulatory wins strengthen distribution against smaller Canadian rivals.
What critics are saying
- Quebec class action allegations over hidden spreads still threaten Shakepay’s fee model and brand.
- AMF’s April 9, 2026 lending relief can vanish, crippling BLOC and balance-sheet growth.
- Any custody breach or lending loss would trigger CIRO scrutiny and existential trust collapse.
What makes Shakepay unique
- CIRO membership on January 8, 2025 makes Shakepay Canada’s regulated crypto front door.
- Payments Canada admission on May 5, 2025 embeds Shakepay inside national payment rails.
- BLOC on August 13, 2026 merges bitcoin custody, credit, and payments in one app.
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