The Bank of Canada has issued a temporary order requiring XTM Inc. and its affiliated entities to immediately halt all retail payment activities. The directive, announced on February 17, 2026, prohibits XTM and its affiliates from carrying out any transactions or withdrawals from accounts linked to the AnyDay platform.
According to the Bank of Canada, this action was taken under section 94 (4) of the Retail Payment Activities Act (RPAA). The Bank stated it has “serious concerns that XTM failed to safeguard client funds in its possession and has reason to believe that allowing XTM to continue to perform retail payment activities could be prejudicial to the public’s interest.”
The Bank of Canada is responsible for overseeing monetary policy and regulating retail payment systems, including digital payments, as part of its efforts to maintain price stability and foster economic growth. More details about its mandate can be found on its official website. Since June 3, 2020, Tiff Macklem has served as governor of the institution.
The Bank’s oversight includes ensuring the security of client funds within retail payment systems such as those operated by companies like XTM Inc. Its responsibilities also extend to maintaining low and stable inflation rates and promoting economic resilience across Canada.
