Wealthsimple is set to offer its users three times more deposit insurance coverage than the $100,000 standard set by the Canada Deposit Insurance Corporation.
The collapse of California s Silicon Valley Bank is being compared to the downfall of Lehman Brothers in 2008. A banking veteran has explained how Australia is affected.
"I think my undergraduate students could run a bank balance sheet better than (SVB) did," University of Toledo finance professor Collin Gilstrap, said.