The Bank of Canada issued a temporary order requiring XTM Inc. and its affiliated entities to immediately cease performing any retail payment activities. The order also prohibits XTM or its affiliates from conducting any transactions or withdrawals from accounts associated with the AnyDay platform. The order was made under section 94(4) of the Retail Payment Activities Act (RPAA) following the Bank’s serious concerns that XTM failed to safeguard client funds in its possession, and its assessment that allowing XTM to continue retail payment activities could be prejudicial to the public interest.
Bank of Canada 2026-02-17
Bank of Canada orders XTM Inc. to immediately stop retail payment activities and halt AnyDay account transactions
The Bank of Canada issued a temporary order under the Retail Payment Activities Act requiring XTM Inc. and its affiliates to cease all retail payment activities and transactions related to the AnyDay platform. This action follows concerns over XTM's failure to safeguard client funds, posing a potential risk to the public interest.