Blockchain
Industry Leaders Establish New National Trade Association, Canadian Web3 Council
Canadian Web3 companies are pleased to announce the launch of the Canadian Web3 Council, a non-profit trade association that strives to position Canada as a leader in Web3 technology such as blockchain and cryptocurrency.
Web3 has quickly evolved from a technology used by hobbyists to a global industry currently valued at more than US$1.8 trillion. Web3 technologies are transforming the internet, financial, and digital services. Beyond its incredible economic potential, it offers new standards of efficiency, transparency, and coordination that are critical to helping solve some of the greatest challenges facing the digital economy.
The Council’s immediate priority is to advocate for a national strategy for cryptocurrency and digital assets. There is an urgent need to ensure Canada and its citizens are well positioned to benefit from this emerging asset class. The Canadian Web3 Council is calling for all levels of governments to establish a coordinated approach to convene industry and experts to build a robust, equitable, and sustainable national strategy for cryptocurrency and digital assets.
Canada’s Role in the Web3 Economy
Canadian entrepreneurs have played a fundamental role in shaping Web3 around the world, including founding some of the largest blockchain networks like Ethereum, Cosmos, and Flow, and many leading NFT platforms like NBA Top Shot and CryptoKitties. Canada also launched the world’s first spot Bitcoin ETF in 2021 and led the way for it on policy and regulation. Despite these successes, Canada has fallen behind other jurisdictions that are advancing policies and defining their approach to Web3. For example:
- In the United States, policymakers have worked closely with the Web3 industry to increase legal clarity over the last four years. The recent Executive Order issued by President Biden outlined a whole-of-government approach to assess and harness the potential of blockchain.1
- The European Union (EU) has also recognized the importance of establishing a strategy to provide legal clarity to Web3 companies.2 Policymakers, in collaboration with the Web3 community, are drafting the EU Markets in Crypto Assets Regulation, which provides comprehensive guidance on blockchain regulation in Europe.
Founding Members
The Canadian Web3 Council represents organisations that have made a significant impact on the development of Web3 technologies across the globe and are committed to building and innovating responsibly in Canada. It represents a diverse group of members, ranging from issuers of financial products and exchange platforms, to investors and open-source blockchain projects.
They are:
- Aquanow
- Axiom Zen
- Chainsafe Systems
- Dapper Labs
- Ether Capital
- ETHGlobal
- Figment
- Informal Systems (Cosmos)
- Ledn
- Wealthsimple
- WonderFi Technologies Inc.
The association is actively recruiting members to help define Canada’s national Web3 strategy. For more information about the Canadian Web3 Council, visit: www.Web3canada.ca.
Quotes from the Canadian Web3 Council and its Co-Founders
“The Canadian Web3 community has led the charge on some of the most innovative and high-valued projects globally. World-changing talent and creativity often starts in Canada, only to flourish elsewhere. We can’t afford to miss the opportunity to nurture these talents domestically, for the benefit of all Canadians. We look forward to working collaboratively with policymakers to establish Canada as a hub for Web3 talent and innovation for decades to come.”
Jelena Djuric and Connor Spelliscy, co-founders of the Canadian Web3 Council.
“As the industry has grown into a multi-trillion-dollar asset class, now is the time for the government to work alongside industry leaders to ensure thoughtful policy is formed. Although there are regulatory challenges when it comes to this nascent industry, the Canadian Web3 Council can work alongside regulators, to help them understand and navigate this complex space. This is a technology at the cross section of the next iteration of the web and the future of finance. Canada has the opportunity to take a leading position on the global stage and become a desired destination for new business relating to the sector.”
Brian Mosoff, Ether Capital CEO
“The Canadian crypto ecosystem is poised to flourish and position homegrown Canadian companies as global leaders. But to make this a reality, Web3 industry participants, government and regulators need to work together to create a framework for responsible innovation that sets Canadian businesses and investors up for success. We look forward to being part of the Canadian Web3 Council to help move this forward.”
Blair Wiley, Chief Legal Officer, Wealthsimple
“Canada has been an engine for innovation within the Web3 community over the last several years. The Canadian Web3 community has attracted hundreds of millions in investments and created thousands of jobs already. As members of this community, we are excited and eager to work with Canadian regulators to continue flourishing. Canada has all of the elements to become a global leader in this industry.”
Adam Reeds and Mauricio Di Bartolomeo, co-founders of Ledn Inc.
“WonderFi is proud to join the Canadian Web3 Council as a Founding Member. Our mission is to create compliant access to digital assets through centralized and decentralized platforms including through Bitbuy, Canada’s first regulated Crypto Marketplace. We look forward to collaborating with other council members and policymakers to help establish Canada as a leading destination for Web3 innovators and entrepreneurs.”
Ben Samaroo, WonderFi CEO
SOURCE Canadian Web3 Council (CWC)
Blockchain
From Onboarding to Settlement in Minutes: TransFi Launches BizPay to Redefine Global Business Payments
TransFi
The blockchain universe never sleeps. From pioneering cross-border payment systems in Central America to city-wide crypto strategies in New York City, today’s headlines reveal an industry maturing at breakneck speed. In this edition of Blocks & Headlines, we explore five landmark developments:
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Guatemala’s Banco Industrial integrates blockchain for seamless cross-border remittances.
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NYC Mayor’s Office unveils a comprehensive crypto and blockchain roadmap.
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OSR Holdings, BCM Europe & Taekwondo Cooperative sign an MOU to launch the OSRH token.
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Bybit’s “Chicken Trader” livestream—crypto meets poultry in the world’s first poultry-powered trading showdown.
-
FIFA taps Avalanche to build a dedicated blockchain for its NFT platform.
These stories underscore three key trends reshaping the ecosystem:
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Institutional Adoption & Regulation: From national banks to municipal governments, legacy institutions are embracing decentralized technologies.
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Tokenization & Community Engagement: Strategic partnerships are launching specialized tokens that bridge niche communities with global markets.
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Innovative Use Cases: Whether gaming, entertainment, or live-stream events, blockchain’s versatility spawns ever-more creative applications.
Join us as we unpack the implications, weigh the opportunities, and forecast where these trajectories might lead.
1. Guatemala’s Largest Bank Integrates Blockchain for Cross-Border Payments
What Happened
Guatemala’s Banco Industrial, the country’s biggest financial institution, announced the deployment of a private‐permissioned blockchain network to streamline remittances from the U.S. into Guatemala City and beyond. The solution reduces settlement times from days to minutes, cuts fees by up to 60 %, and offers real-time traceability for senders and receivers.
Source: Cointelegraph
Analysis & Commentary
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Financial Inclusion Boost: Remittances account for over 12 % of Guatemala’s GDP. By minimizing friction and cost, blockchain integration will extend financial services to remote communities reliant on diaspora funds.
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Risk & Compliance: Permissioned networks allow Banco Industrial to retain AML/KYC controls, mitigating concerns around illicit flows. This hybrid approach demonstrates that enterprise blockchain can balance decentralization with regulatory rigor.
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Regional Ripple Effects: Neighboring Central American banks are watching closely. Should Guatemala’s pilot succeed, we can expect a domino effect across El Salvador, Honduras, and Costa Rica—each seeking to capitalize on faster, cheaper cross-border rails.
Implications
Legacy banks worldwide should view this as a blueprint: private blockchains can coexist with existing compliance frameworks while delivering transformative user benefits. Early movers will capture remittance market share and cultivate fintech partnerships across the Latin American corridor.
2. NYC Mayor Unveils Ambitious Crypto & Blockchain Agenda
What Happened
New York City Mayor Eric Adams detailed his administration’s multi-pronged strategy to make NYC a global crypto hub. Key initiatives include:
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A regulatory sandbox for crypto startups to pilot DeFi, NFTs, and token-based fundraising under city supervision.
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Partnerships with CUNY and Columbia University for blockchain research and talent development.
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Deployment of a blockchain-based public record system for land titles and business registrations.
Source: GovTech
Analysis & Commentary
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Regulatory Harmony vs. Overreach: By offering a controlled sandbox rather than blanket deregulation, NYC signals a nuanced stance—encouraging innovation without sacrificing consumer protection.
-
Talent Pipeline: Academic partnerships aim to remedy the talent shortage plaguing blockchain firms. Local graduates trained in distributed ledger technologies (DLT) will feed startups, financial institutions, and government agencies.
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Public Services on Chain: Land registries and business filings on blockchain promise greater transparency and fraud reduction. If scaled effectively, NYC could set a global standard for government-blockchain integration.
Implications
Other major cities—London, Singapore, Dubai—will feel pressure to match NYC’s playbook. Municipal leaders should prioritize sandbox frameworks and academia-industry liaisons to nurture homegrown crypto ecosystems.
3. OSR Holdings, BCM Europe & Taekwondo Cooperative Launch OSRH Token
What Happened
OSR Holdings, BCM Europe, and the Taekwondo Cooperative signed a strategic Memorandum of Understanding to co-develop the OSRH token, a blockchain-based digital asset aimed at supporting global Taekwondo practitioners. Features include:
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Membership Rewards: Tokens earned through event participation, coaching certifications, and tournament wins.
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Decentralized Governance: Athletes vote on sponsorship allocations and rule-change proposals via on-chain ballots.
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Marketplace Integration: A dedicated NFT marketplace for Taekwondo memorabilia, from digital belts to highlight reels.
Source: PR Newswire
Analysis & Commentary
-
Niche Tokenization: OSRH token exemplifies the power of community-focused tokens. By aligning incentives with passion points—training, competition, governance—stakeholders gain ownership and engagement.
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Governance Innovation: Athlete-driven decision-making on sponsorship and funding disrupts top-down federation models. This could democratize sports governance across disciplines.
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Commercial Ecosystem: The NFT marketplace offers monetization channels for athletes and federations alike. Strategic royalties on secondary sales ensure sustainable funding.
Implications
Other sports federations and niche communities should explore token models that blend rewards, governance, and commerce. Successful launches will hinge on clear utility, user education, and regulatory compliance in key jurisdictions.
4. Bybit Presents “Chicken Trader”: The World’s First Poultry-Powered Trading Showdown
What Happened
Cryptocurrency exchange Bybit debuted “Chicken Trader,” a live-streamed event where two contestants trade crypto pairs—and manage live chickens—to earn “Egg Points.” Viewers can stake on their favorite trader, earning NFTs and token rewards based on performance.
Source: PR Newswire
Analysis & Commentary
-
Gamification Meets DeFi: Chicken Trader’s fusion of live-stream engagement, staking mechanics, and NFTs exemplifies Web3’s playful ethos—turning trading into interactive entertainment.
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User Acquisition Strategy: Bybit gamified acquisition funnels, leveraging viral social content to onboard nontraditional crypto audiences intrigued by the novelty factor.
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Regulatory Tightrope: Combining staking with competition and livestock raises jurisdictional questions around gambling, securities, and animal welfare. Bybit must navigate diverse regulations to scale globally.
Implications
Other exchanges will replicate gamified formats to differentiate UX and grow communities. Yet long-term viability demands balancing flashy live-events with rigorous compliance, sustainable tokenomics, and authentic value for participants.
5. FIFA Taps Avalanche to Power Its NFT Platform
What Happened
Global soccer body FIFA selected the Avalanche blockchain to launch its official NFT marketplace, featuring digital collectibles—from World Cup highlights to player-card packs. Avalanche’s high throughput and low fees were cited as decisive factors.
Source: TradingView (via Cointelegraph)
Analysis & Commentary
-
Scalability & Sustainability: Avalanche’s consensus mechanism delivers sub-second finality and carbon-offset commitments, aligning with FIFA’s environmental pledges.
-
Fan Engagement: Tokenized highlights and limited-edition digital memorabilia expand revenue streams beyond broadcast rights, offering fans verifiable ownership and collectible provenance.
-
Interoperability: Avalanche’s growing DeFi ecosystem enables future integrations—staking fan tokens, launching prediction-market games, or embedding NFT rewards in FIFA’s mobile apps.
Implications
Major sports leagues and entertainment brands eyeing NFT forays will scrutinize Avalanche’s performance under FIFA’s global load. Blockchain platforms must prove they can handle spikes during marquee events—kickoff times, finals, transfer windows—while preserving UX and sustainability goals.
Conclusion
Today’s Blocks & Headlines illustrate blockchain’s multifaceted evolution:
-
Legacy institutions like banks and city governments are unlocking new efficiencies and transparency through private and public DLT networks.
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Community-driven tokens are redefining governance and monetization in sports and niche domains.
-
Innovative engagement—from poultry-fueled trading spectacles to global soccer NFTs—demonstrates blockchain’s capacity for gamification, fan loyalty, and novel revenue models.
Yet with opportunity comes responsibility: scalable architectures must coexist with robust compliance; token economies require thoughtful design to sustain value; and regulators, academia, and industry must collaborate to craft frameworks that balance innovation with consumer protection.
As blockchain weaves deeper into finance, governance, entertainment, and sports, stakeholders who embrace strategic partnerships, prioritize user education, and invest in resilient infrastructures will lead the charge into Web3’s next frontier.
The post Blocks & Headlines: Today in Blockchain – May 22, 2025 appeared first on News, Events, Advertising Options.
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