Lithic, a leading card issuing technology company known for enabling growth-oriented businesses with bespoke card programs and seamless money movement, today announced its expansion into the Canadian market. This marks Lithic’s first entry into a non-U.S. market and introduces powerful multicurrency processing capabilities that position Lithic to support the most ambitious and innovative card program use cases.

With this expansion, Lithic enables businesses to manage and process transactions in multiple currencies, which can reduce complexity, costs, and the risks associated with traditional currency conversion. This strategic move positions Lithic as a critical partner for Canadian fintechs, growth startups, and U.S.-based card programs looking to extend their reach into Canada.

“We’re thrilled to be open for business in Canada. Our multicurrency processing capabilities are not just an additional feature, but a game-changer for businesses operating in and expanding into Canada,” said Bo Jiang, co-founder and CEO of Lithic. “As open banking regulations are set to change the financial landscape, so will expectations from Canadian banks, fintechs, businesses, and consumers which will all look for more modern banking and payments experiences. Lithic’s entrance into Canada and multicurrency processing abilities are well-timed to support businesses navigating the shifting expectations.”

What this means for card programs in Canada:

• Accelerated market entry: Card programs in Canada can now leverage Lithic’s infrastructure to launch their programs fast, with time-to-market reduced from several quarters down to weeks.
• Modern cardholder experience: Cardholders in Canada can now benefit from a more modern cardholder experience, thanks to Lithic’s dynamic authorization decisioning and digital wallet integrations.
• Global growth: Lithic’s multicurrency capabilities open new opportunities for fintech companies to expand internationally, managing cross-border transactions with ease and confidence.
• Tailored in-market security solutions: With the introduction of physical cards featuring offline PIN management, Lithic is addressing Canada’s specific payment standards, ensuring compliance and enhancing security.

As part of this expansion, Lithic remains committed to enhancing its platform to support the diverse needs of fintechs and financial institutions across North America and beyond. The company’s vision is to enable businesses of all sizes to innovate, scale and compete in a rapidly changing financial environment.