Business Crypto Accounts In Canada: Exchanges, Banks And Accounting Software

How Do I Open A Business Crypto Account In Canada?

1. Open the business bank account first. You need a Canadian bank account in the company's name to move money in and out. Check whether your bank accepts payments to crypto platforms.
2. Collect your documents. Certificate of incorporation or registration, the names and IDs of directors and owners, and proof of the operating address.
3. Apply through the platform's business route. Do not convert a personal account. NDAX says to request its business application form and Kraken has a dedicated business verification path.
4. Decide who gets access. NDAX supports multiple users with individual permissions, and Kraken's organizations feature manages team access and approvals. Use it so no single person controls the treasury.
5. Start with a small test transfer. Then set an internal policy for how much to hold, who can approve trades and where records live.

Which Canadian Bank Will Work With A Crypto Business?

That depends on the bank and on how you describe your business. I cover the individual side in Are There Canadian Banks That Allow Crypto? and the blocking problem in Can Canadian Banks Block You From Buying Crypto?. For a business, expect more questions about source of funds, the platform's registration and who controls the account. A registered platform is easier to explain than an offshore one, which is one more reason I only point businesses to registered ones.

How Is Crypto Taxed For A Canadian Business?

The CRA says whether gains are business income or capital depends on the facts: how often you trade, how long you hold, your knowledge and the time you spend. A company that trades often is more likely to be carrying on a business, so the full profit or loss counts as income, not half of a gain. A company that holds crypto as a long-term treasury asset is closer to capital treatment. Exchanging one coin for another is a disposition either way, and the CAD value on that day is the proceeds. Ask your accountant to decide the treatment before the first trade.

GST/HST adds a second layer. The CRA treats virtual payment instruments such as bitcoin, ether and litecoin as exempt financial services, while other crypto is likely taxable intangible personal property, and the small supplier threshold applies. These are accountant questions, not blog questions.

What Accounting Software Works For Crypto?

The CRA does not endorse products, but it expects records for six years: units and type, date and time, CAD value, counterparty or wallet address and balances. Two tools I have reviewed are CoinLedger and Koinly, and my free crypto tax calculator handles a quick estimate. Export your platform history regularly, not once at year-end, since platforms change and some close.

What Do The Platforms Charge A Business?

These are the published retail schedules. Business accounts may be priced differently, so ask each platform for its business terms in writing before you move treasury money. For a company, wire limits matter more than e-Transfer limits: Newton lists wires up to CAD 1,000,000 and Shakepay accepts wires from $10,000 with no maximum.

How Should A Company Hold Crypto Safely?

Use multi-user permissions so that no single person can move funds, and keep an internal policy on who can approve a trade or a withdrawal. Registered Canadian platforms hold cash in a regulated way, but crypto itself is not covered by CIPF at any of them. Coinbase says it holds customer assets 1:1, Kraken published a proof of reserves snapshot showing a Bitcoin reserve ratio of 102.9% on June 30, 2026, and Wealthsimple says each of its custodial partners carries over $75 million in cold storage coverage. Those are the platforms' own statements. For amounts the company cannot afford to lose, consider a hardware wallet under dual control, with the keys held by two people.

Can A Business Accept Crypto Payments?

Yes, but the tax side is a decision, not a button. The CRA treats using crypto to pay for goods or services as a disposition, so when a business receives crypto for a sale, the value in Canadian dollars at that moment is income, and when it later spends or sells the crypto, a gain or loss arises. Payment processors can convert to Canadian dollars at the point of sale, which keeps the books simple. I compare options on my cryptocurrency payment gateways page, and my pay bills with crypto guide shows the payer's side.

What Records Does A Corporation Need To Keep?

The CRA lists the details to record: the number of units and type of crypto, the date and time of each transaction, the Canadian-dollar value, the counterparty or wallet addresses, and the opening and closing balances with their cost. Keep them for six years from the end of the last tax year they relate to, and export exchange histories regularly. Receipts from accounting, legal or third-party software count as part of the books. A company should also record who authorized each movement of funds, because auditors ask.

What Should You Ask A Platform Before Opening A Business Account?

1. Which of our entity types do you accept? Newton's list is long, Wealthsimple Business accepts only corporations, and each platform differs.
2. What are the business fees and limits in writing? The retail schedules are a starting point only.
3. Can several people have separate permissions and an audit trail? NDAX and Kraken both describe multi-user features.
4. How do withdrawals to the company bank account work? Check limits and any fee, for example Kraken's CAD 10 e-Transfer withdrawal fee.
5. What happens if a signatory leaves or dies? Ask for the platform's process, because the answer affects your continuity plan.