ShakePay, a CIRO-registered Canadian crypto platform with over 1.5 million users, began rolling out Bitcoin-backed loans on April 21, 2026, becoming Canada’s first crypto trading platform to offer such products.
Important points:
- Shakepay launched Bitcoin-backed loans on April 21, 2026, becoming the first crypto platform in Canada to offer this product.
- Loan interest rate is 9.5% $4 monthwith a cap of C$50,000 and supported by a three-year exemption relief decision from the Quebec AMF.
- CEO Jean Amiouny said the feature is being rolled out in stages, with loan limits expected to increase over time.
Canada’s Shakepay offers Bitcoin-backed loans with AMF exemption
CEO Jean Amiony announced the launch of X, saying that Bitcoin-backed loans were one of the most requested features since its inception. “For those who don’t want to sell their Bitcoin or live by Bitcoin standards, borrowing with Bitcoin is one of the most powerful financial instruments available,” Amiouny wrote.
This product allows Canadian residents to borrow fiat against their Bitcoin holdings without having to sell them. The Borrower avoids the occurrence of a taxable event that would normally result from a sale under Canadian tax law.
Loan interest rate is 9.5% $4 month The minimum amount is CAD 100, the current maximum is CAD 50,000, and the limit is expected to increase over time. There are no origination fees or early repayment penalties. Funds will be available within minutes of approval and will be deposited directly into your Shakepay account or linked bank.
Collateral is stored in segregated cold and hot wallets by approved third-party custodians, including Coinbase Custody. If the loan-to-value ratio is below the margin threshold, at least 95% of the collateral must be deposited with a third-party custodian. Shakepay confirmed that there will be no rehypothecation of customer collateral, except in liquidation scenarios.
This platform monitors LTV in real time. A margin call notice will be issued at 80% LTV and an automatic liquidation will be triggered at 90% LTV to cover the outstanding balance. In this case, a 3% clearing processing fee will apply.
This launch follows an exemption relief decision issued by Quebec’s securities regulator, the Autorité des Marches Financiers, on April 9, 2026, covering passports to other Canadian provinces and territories. The decision applies to its wholly-owned subsidiary Shakepay Credit Inc., which is exempted for three years from dealer registration and prospectus requirements for crypto-backed lending arrangements.
Under the terms of this relief, the loans will be denominated in Canadian dollars or U.S. dollars and structured as term loans or revolving lines of credit with terms ranging from three months to three years. Collateral is currently limited to Bitcoin and Ether, unless regulators approve additional assets.
Borrowers must be Canadian residents who have completed KYC through Shakepay Inc. Customers must also approve a mandatory loan risk statement that covers volatility, custody risk, and lack of CIPF coverage. The regulatory filing also prohibits borrowers from using loan proceeds to purchase additional cryptocurrencies.
Shakepay has achieved several regulatory milestones prior to this launch. The company registered with CIRO as an investment dealer in January 2025, making it the first Quebec-based cryptocurrency platform. In May 2025, the company became the first crypto-native company to be admitted to Canadian Payments.
This feature is being enabled gradually. Not all users will see it on the app’s home screen right away. Eligible customers can access products directly through the Shakepay app once they appear in their account.
Bitcoin-backed loans have been available through platforms such as Ledn and various decentralized protocols, but the entry of ShakePay will give Canadian borrowers a regulated domestic option, operating under provincial securities supervision.
Shakepay confirmed that customer deposits are not used to fund loans and that the company has submitted audited financial reports to regulators as required under the AMF decision.
Canadian customers who hold Bitcoin and want access to liquidity now have a regulated path to borrow on those holdings without having to liquidate their positions. Shakepay says the current rollout is gradual and users can check the app’s home screen to see if the feature is enabled for their account.
