No. CDIC states that cryptocurrencies, including stablecoins, are not covered, and that fintechs are not CDIC members. A CAD balance on a prepaid crypto card is protected only if the program places it as an eligible deposit at a CDIC member, which you should confirm in the card terms.
Figures as of October 31, 2026.
CDIC insures eligible deposits at member institutions up to $100,000 per insured category, per member. Its list of what is not covered includes “cryptocurrencies, including stablecoins” (CDIC, What’s covered, read October 30, 2026).
CDIC also says fintechs are not CDIC members and are not insured by CDIC; your funds are protected only if they are placed as eligible deposits with a member institution (CDIC, Fintechs).
| What you hold | CDIC deposit insurance? |
|---|---|
| Bitcoin, ether or any other crypto on a card platform | No |
| A stablecoin, even one pegged to CAD | No |
| CAD balance on a prepaid card | Only if the program places it as an eligible deposit at a CDIC member: check the terms |
| CAD in your chequing account at a CDIC member bank | Yes, within CDIC limits |
| CAD balance on a prepaid crypto card | $2,000 |
|---|---|
| Bitcoin held on the same platform | $3,000 |
| Chequing at a CDIC member bank | $4,000 |
| Prepaid card balance | Not insured, per Shakepay’s cardholder agreementcheck each card’s terms |
| Bitcoin | Not insured (CDIC: crypto not covered) |
| CDIC-insured total | $4,000Only the bank chequing account, within CDIC limits. |
Computed 2026-11-03.
What this means for you
Treat any crypto card balance as uninsured money. Load what you plan to spend this month, not your emergency fund.
Sources
- CDIC — What’s covered — no date shown; read October 30, 2026
- CDIC — Fintechs — no date shown; read October 30, 2026
Educational information, not financial, tax or legal advice. 4 min read. Reviewed October 31, 2026.