Shakepay launches bitcoin-backed loans after AMF relief

Shakepay began offering bitcoin-backed loans in Canada on April 21, 2026, after Quebec’s Autorité des marchés financiers issued a three-year exemptive relief on April 9. The loans carry a 9.5% APR and are secured primarily by bitcoin. The current maximum loan size is C$50,000 and the minimum is C$100.

Loans are originated by Shakepay Credit Inc., a wholly owned subsidiary, and are available in Canadian or U.S. dollars as either term loans or revolving lines of credit. Loan terms range from three months to three years. Shakepay said there are no origination fees and no penalties for early repayment. Approved borrowers can receive funds in their Shakepay account or a linked bank account within minutes of approval.

Collateral is held with approved third-party custodians in segregated cold and hot wallets, including Coinbase Custody. Shakepay requires that at least 95% of collateral be with a third-party custodian when a loan-to-value ratio falls below the margin threshold. The platform monitors LTV in real time, issues margin notices at 80% LTV and can trigger automatic liquidation at 90% LTV to cover outstanding balances. A 3% liquidation processing fee applies. Shakepay confirmed it does not rehypothecate client collateral except to settle liquidations and that client deposits are not used to fund loans.

Borrowers must be Canadian residents and complete Know Your Customer checks through Shakepay Inc. Clients must acknowledge a mandatory Loan Risk Statement that explains volatility and custody risks and notes the absence of coverage by the Canadian Investor Protection Fund for these loans. Regulatory terms prohibit using loan proceeds to purchase additional cryptocurrency. Shakepay files audited financial statements with regulators as required under the AMF decision.

The AMF relief grants an exemption from dealer registration and prospectus requirements for the Shakepay Credit unit and includes passport coverage to other provinces and territories. Collateral is currently limited to bitcoin and ether unless regulators approve additional assets.

Shakepay reached several regulatory milestones before the launch: it registered with the Canadian Investment Regulatory Organization (CIRO) as an investment dealer in January 2025 and was admitted to Payments Canada in May 2025. Jean Amiouny, Shakepay’s CEO, wrote on X that bitcoin-backed loans had long been a highly requested feature and posted, “For those who never want to sell and live on a bitcoin standard, borrowing against your bitcoin is one of the most powerful financial products available.”

Similar bitcoin-collateralized lending products are available from other platforms and decentralized protocols; Shakepay’s product is the first offered by a regulated crypto trading platform in Canada under provincial securities oversight.