High transfer costs decimated with Open Value Network
Toronto, Ontario, Canada - Consensus, May 14, 2025 (GLOBE NEWSWIRE) -- Transactix Financial Inc. today introduced a secure, unified payments platform that frees Canadians from the exorbitant fees and inefficiencies that impact the country’s financial well-being.
Its Open Value Network™ (“OVN”) is engineered to facilitate the immediate and seamless transfer and conversion of digital value – whether in tokens, points, credits, stablecoins, cryptocurrencies, or fiat currency – at a fraction of the cost Canadians have had to pay.
“Moving value should be as cheap and effortless as sending a text message,” said Abou Daya, CEO of Calgary-based Transactix. “But Canadians continue to bear costs for transferring funds that are more comparable to snail mail or shipping a parcel than sending an email. This is an outdated paradigm that OVN will disrupt.”
Similarity in the price of financial transfers and physical mail delivery in Canada stems from legacy infrastructure, regulatory overhead, and the dominance of a few large financial institutions. These factors have kept costs high, even as digital technology has made near-instant, low-cost communication commonplace. In contrast, the OVN leverages modern, patented technology to eliminate these inefficiencies, making value transfer as inexpensive and immediate as digital messaging.
A Platform for Growth, Security, and Innovation
“The launch of the Open Value Network is a testament to Canadian innovation and leadership in blockchain technology,” said Koleya Karringten, Executive Director of the Canada Blockchain Consortium. “By enabling secure, immediate, and low-cost value transfers across a wide range of digital assets, OVN has the potential to empower consumers, drive fintech growth, and strengthen Canada’s economic sovereignty in the rapidly evolving global digital economy.”
Transactix’s OVN is more than a payment network. It is a secure, developer-friendly ecosystem that:
- Enables fintechs to build on a cohesive, blockchain native infrastructure, complementing existing legacy payment rails.
- Empowers consumers and businesses with new, globally competitive services.
- Advocates for regulatory modernization to foster innovation, reduce costs, and protect Canadian interests amid rising tariffs and global competition.
- Illustrates to policymakers and regulators on how novel technologies can lower costs and strengthen Canada’s economic resilience.
National Security and Economic Sovereignty
The stability of Canada’s economy and the integrity of its currency are inseparable from national security. The rapid proliferation of stablecoins and cryptocurrencies, many issued by foreign entities, presents both opportunities and challenges for Canadian sovereignty and economic governance. As the world accelerates toward digital currencies, the United States is positioning itself as a global leader. Canada must keep pace with a robust digital currency strategy to safeguard its interests and ensure that Canadian businesses and consumers have access to homegrown digital assets.
About Transactix
Transactix is enabling individuals and companies to exchange money, cryptocurrencies, loyalty rewards, credits, and more — instantly, securely, for less than the price of a text message — with its revolutionary Open Value Network™ and Stablecoin-as-a-Service offerings. It is establishing a new benchmark for speed, affordability, accessibility with compliance in the digital economy powered by a proven infrastructure already processing over $100 billion (US) in transactions. www.transactix.ca
For more information about the OVN launch and Ali Abou Daya’s presentation “Moving Value Cheaper Than Text”, visit the Consensus 2025 Toronto agenda.
Media Kit:
https://drive.google.com/drive/folders/18B4IACAtyW_-ktNyTxkDSTQvfqjfFXej?usp=drive_link
CONTACT: Shelly Sofer Media and Analyst Relations Transactix Financial Inc. s.sofer(at)transactix.ca
