By Craig Attiwill, Founder & CEO, Peloton Technologies
If you’re a small business owner, you’ve probably noticed how much payments have been in the news lately—credit card fees, open banking and – often – digital currencies. One word is coming up time and again: “stablecoins.”
It might sound like something built for Wall Street or Silicon Valley, but I’d argue it’s something that should matter to a local café owner in Victoria, a contractor in Calgary, or an independent pharmacy in Halifax. Because when it comes to getting paid, moving money, and managing cash flow, stablecoins could change the game for Canadian small businesses.
To give you one example: Coinbase, the largest US-based cryptocurrency exchange and world’s biggest bitcoin custodian, just offered up to 4.5% interest on deposits, a far cry from the standard <1% that is offered on Canadian chequing accounts.
The truth is, Canada is running a little behind on Stablecoins compared to the U.S. and Europe. But that doesn’t mean we should ignore it. In fact, it’s the opposite: now is the time for small businesses to start paying attention—and even advocating—for a future that includes stablecoins. Here’s why Stablecoins are relevant to small businesses:
1. Faster money in your hands
Think about how long it takes for a payment to reach you today. Credit card sales can take a couple of days to settle. An EFT may take days to clear. International wires? Sometimes you’re waiting a week—and paying hefty fees (unless you are with Peloton!) for the privilege.
Stablecoins are designed to move at internet speed. They’re a digital version of the dollar that can transfer instantly, any time of day, any day of the week. Imagine invoicing a client on Friday night and actually having the funds available before you even open your doors Saturday morning. For a small business where cash flow is king, that kind of speed makes a real difference.
2. Lower costs, less friction
Every small business owner knows the sting of fees – processing fees, exchange fees, wire fees. Sometimes it feels like money is leaving your account faster than it’s coming in.
Because stablecoins move directly between parties, they cut out a lot of those middle layers. That means the potential for lower costs and fewer headaches when you’re collecting payments or paying suppliers. Picture your coffee shop saving a percentage point on every transaction. Over a year, that could be thousands of dollars back in your business.
3. Opening doors to new opportunities
Stablecoins don’t just make existing payments faster and cheaper – they also unlock new ways of doing business.
Take international sales. Maybe you’re a Canadian maker who sells online to customers in the UK. Today, you’re juggling exchange rates and waiting for international wires to clear. With stablecoins, you could receive digital pounds instantly and decide when (or if) you want to convert them to Canadian dollars.
Supplier payments are another great example. If you’re ordering stock from abroad, stablecoins could mean paying your supplier instantly without the delays or hidden costs of wire transfers. That’s negotiating power—and peace of mind—small businesses rarely get with today’s system.
Looking ahead
Stablecoins aren’t mainstream in Canada yet. But they’re coming. Other countries are already testing and scaling them, and Canadian regulators are beginning to catch up. The important thing is that small businesses are part of the conversation.
At Peloton Technologies, we’ve built our platform to give businesses more control over how they get paid and how they move money. Stablecoins are a natural extension of that mission. That’s why we’re actively exploring how stablecoin payments could become part of our offering—whether that’s faster settlement, cross-border capabilities, or new ways to manage cash flow.
Our view is simple: when payment innovation creates better experiences for small businesses, we want to bring it to you. Stablecoins are one of the most exciting opportunities on the horizon, and we’re ready to help Canadian businesses take advantage when the time comes.
Stablecoins 101: What You Need to Know
Think of a stablecoin as a digital dollar.
- It’s a cryptocurrency, but unlike Bitcoin, its value is tied (“pegged”) to something stable, like the U.S. dollar or Canadian dollar.
- That peg means the value doesn’t swing wildly—one stablecoin equals about one dollar.
- Stablecoins can move across the internet instantly, 24/7, without waiting on banks or card networks.
In short: stablecoins give you the speed of crypto with the stability of traditional money.
About the author
Craig is the Founder and CEO at Peloton where he has not only transformed the payments experience for SMBs, but has continued to play a hands-on role in innovation at the company. Prior to founding Peloton, Craig held senior engineering roles at Sierra Systems (now NTT Data), Visiphor Corporation (now I2 Group) – which supplies software products to the criminal justice system – and BAE Systems, one of the world’s largest defense contractors. He has also served as senior technology consultant to Quartech, CGI and Deloitte. His background in serving both the public and private sectors, including in defense, has been key to the success of Peloton here in Canada. Craig immigrated from Australia in 2005.