Shakepay Enables Bitcoin-Backed Lending in Canada After AMF Green Light

Shakepay launched bitcoin-backed loans in Canada on April 21, 2026, following a Quebec AMF exemptive relief issued April 9 that grants a three-year exemption from dealer registration and prospectus requirements. The product lets eligible Canadian users borrow CAD or USD against BTC (and ETH) without selling, potentially reducing immediate sell pressure on bitcoin and improving on‑chain holder liquidity. Loans carry a 9.5% APR, a current maximum of C$50,000 (minimum C$100), real‑time LTV monitoring, margin calls at 80% LTV and automatic liquidation at 90% (3% fee). Collateral is custodied by approved third parties (e.g., Coinbase Custody) with no rehypothecation except in liquidation. The regulated, domestic offering is likely bullish for BTC by offering a compliant borrowing alternative that helps holders access cash without exiting positions, though scale depends on uptake and future expansion of limits and eligible collateral.