Wealthica enhances crypto support as Binance CEO speaks up

Canadian financial aggregator’s users can now track their Bitcoin, Ethereum holdings alongside other investments

Wealthica enhances crypto support as Binance CEO speaks up
Steve Randall

Users of financial data platform Wealthica can now see how their cryptocurrency investments are performing alongside more traditional assets.

The firm has launched enhanced cryptocurrency support enabling users to see their Bitcoin, Ethereum, and Altcoin holdings as well as their home, employee stock options, stock portfolio, retirement savings and alternative investments. In addition to their traditional investment accounts.

Montreal-based Wealthica’s aggregation technology now connects with major Canadian cryptocurrency exchanges including Wealthsimple Crypto, Newton, NDAX, Shakepay and Coinsquare.

There is also support for 65 cryptocurrency wallets, exchanges, protocols and accounts across the globe – including Coinbase and Binance - thanks to a partnership with Zabo.

"Today, with the neobanks, online brokerages and new crypto exchanges, it's not uncommon for people to link more than 5 accounts on their financial dashboard", said Simon Boulet, CEO of Wealthica.  "Adding support for a wide range of cryptocurrency exchanges further supports Wealthica's mission to enable investors to consolidate and see all of their financial accounts securely in one place."

Crypto rollercoaster

Investment in cryptocurrencies remains both an alluring opportunity and a high-risk gamble.

Values of the major digital coins continue to fluctuate, often driven up by announcements of further adoption by large firms or billionaire backers; with plunges triggered by concern around regulation and security.

Recently, one of the major crypto exchanges has found itself out of favour with regulators in Japan and the UK.

A regulated business acquired by Binance in the UK was forced to stop certain activities by the country’s financial regulator and Barclays Bank then announced that it was stopping credit and debit card payments to the exchange.

Binance CEO Changpeng “CZ” Zhao has published a blog today (June 7) highlighting the progress the firm and the crypto industry has made in its short history, but also acknowledging its challenges.

“Binance has grown very quickly and we haven’t always got everything exactly right, but we are learning and improving every day. We hope to clarify and reiterate our commitment to partner with regulators, and that we are pro-actively hiring more talent, putting in place more systems and processes to protect our users,” he wrote.

Zhao added that clear regulation will be a positive for the crypto industry, likening it to the early days of the car, before there were traffic laws and conventions that kept us all safe and informed.

“I believe a well-developed legal and regulatory framework in the long term will be a solid foundation that truly makes crypto essential in everyone’s daily life,” he added.