Shakepay, a Montreal-based fintech startup, has announced the launch of its multi-currency, peer-to-peer mobile wallet in private beta.

The platform will allow Canadians to buy and sell Bitcoin and other cryptocurrencies directly from their phone. The mobile application will also enable users to send and request Canadian Dollars from other Shakepay users, with the ability to add funds to their mobile wallet via Interac e-transfer.

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Founded in 2015 by two McGill University alumni—Jean Amiouny, CEO, and Roy Breidi, CTO—the company raised $1 million in venture capital funds last year led by Boost VC, Amphora Capital, and angel investors. That funding came after a 60% month-over-month growth in volume of transactions for 2017.

“We’re seeing a huge rate of adoption in the cryptocurrency space and we’re excited to launch the new Shakepay product to the Canadian market, one that is severely underserved,” said Jean Amiouny, Co-Founder and CEO. “Shakepay is the fastest way for Canadians to buy and sell digital currencies directly from their mobile phones.”

Shakepay also recently joined the Creative Destruction Lab’s (CDL) sixth cohort at the University of Toronto.

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“CDL connects us with seasoned Canadian entrepreneurs to help us turn Shakepay from a startup to a high-growth company,” said Roy Breidi, Co-Founder at Shakepay. “We are committed to working towards a seamless crossover between the current financial system and the digital asset world. We are driven to build products that meet the exploding consumer demand in the space.”

The new mobile wallet also makes it possible to cash out CAD balances to their Canadian bank accounts, with funds deposited within 24 hours. Shakepay charges a 1.75% fee on top of BTC-to-CAD and CAD-BTC market rates, with no fee to send and receive CAD and BTC to and from other Shakepay users. There is also no fee to transfer CAD to your mobile wallet.

“We’re seeing a huge rate of adoption in the cryptocurrency space and we’re excited to launch the new Shakepay product to the Canadian market, one that is severely underserved,” said Jean Amiouny, Co-Founder and CEO. “Shakepay is the fastest way for Canadians to buy and sell digital currencies directly from their mobile phones.”