What VirgoCX does

VirgoCX is a Canadian FINTRAC-registered cryptocurrency trading platform founded in 2018 and headquartered in Toronto. The company operates a retail spot trading platform supporting 90+ cryptocurrencies across web, iOS, and Android channels, with CAD funding integrated through Interac e-Transfer, wire transfer, bill payment, and credit/debit card rails. The platform monetizes primarily through embedded trading spreads (0.95% on Tier 1 BTC/ETH pairs, 1.6% on all other assets), card processing fees (3.99% credit, 2.99% debit), and an institutional OTC desk under the VirgoCX Wealth brand that executes large block trades above C$50,000 with same-day CAD/USD settlement. Asset custody is delegated to Coinbase Custody for retail balances and Fireblocks for the institutional wealth operation, while compliance is supported by Chainalysis blockchain analytics. Ancillary products include a public trading API, a Chrome-based real-time price extension (Virgo Market LIVE), a non-custodial wallet posture, a tiered rewards program offering up to 90% spread discounts, an uncapped referral program paying 10% of referee spread revenue, and a crypto-to-gift-card redemption module (Virgo Shop).

The company runs a dual GTM motion: product-led growth for Canadian retail consumers via self-serve onboarding with Interac-funded accounts, and a dedicated enterprise field-sales motion through VirgoCX Wealth with 24/7 account managers targeting institutions, investment funds, trading firms, miners, and high-net-worth individuals. VirgoCX has raised approximately C$15 million (≈US$11.4 million) in venture capital across a C$10 million Series A led by Draper Dragon in May 2022 and a C$5 million extension in October 2023 from Newport Capital Group, Skylab Capital, and Waterdrip Capital. The platform is recognized on Deloitte Canada's Tech 50 (2023) and Finder's Highly Recommended Canadian crypto trading platforms, and it is pursuing international expansion into Australia, the United States, and Europe alongside adjacent product launches such as an NFT liquidity aggregator.

Name

VirgoCX

Legal name

Virgo Group of Companies

Website

https://virgocx.ca

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

VirgoCX is a Canadian FINTRAC-registered cryptocurrency trading platform offering spot trading of 90+ digital assets to retail and institutional clients, with CAD fiat integration via Interac e-Transfer and a dedicated OTC desk (VirgoCX Wealth) for large block transactions above C$50,000.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange and Trading

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (52321)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

akta.pro secondary industries

Centralized Crypto Exchanges (CEX) (FSAPADAA), Fiat On/Off-Ramps & Payment Rails (Exchange-Operated) (FSADAAAF), Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG), Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG)

Keywords

• Cryptocurrency exchange
• Crypto trading platform
• OTC crypto desk
• Crypto asset brokerage
• Crypto-fiat on-ramp

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Trading Spreads (CAD & USD Market): VirgoCX charges trading spreads on buy/sell prices for CAD and USD to crypto trading pairs. Tier 1 assets (BTC & ETH) have a 0.95% spread; Tier 2 assets (All Other) have a 1.6% spread. No separate trading commission fee is charged. The spread covers custodial expenses from Coinbase Custody and VirgoCX business costs.
2. Card Payment Processing Fees: Credit card purchases incur a 3.99% fee (minimum $1 per transaction) and debit card purchases incur a 2.99% fee (minimum $1 per transaction) with limits of $3,000 per transaction, $5,000/day, and $10,000/7 days.
3. OTC Wealth Services: VirgoCX Wealth provides institutional-grade OTC trading services for large block transactions over $50,000 CAD, with 24/7 dedicated account managers and same-day settlement for CAD and USD trades.
4. Account Closing Fee: Starting October 24, 2024, users closing accounts with remaining balances under 45 CAD have the full amount deducted. For balances above 45 CAD, a 45 CAD fee is deducted after asset liquidation followed by account closure.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

VirgoCX operates a regulated Canadian cryptocurrency trading platform where retail users buy and sell 90+ digital assets against CAD and USD using Interac e-Transfer, wire transfer, and card funding with a non-custodial self-managed wallet model. It complements this consumer platform with an institutional OTC service, VirgoCX Wealth, which executes large block trades above C$50,000 via dedicated account managers, Chat Broker, and same-day settlement. Revenue is generated primarily through embedded trading spreads on each transaction and card processing fees.

Product overview

VirgoCX operates as a unified cryptocurrency trading ecosystem with a modular architecture. The core offering consists of the main VirgoCX Crypto Trading Platform (virgocx.ca) providing buy/sell services for 90+ cryptocurrencies with free fiat deposits and competitive spreads. This core platform is complemented by specialized products including VirgoCX Wealth (OTC service for institutional trades over $50,000 with Chat Broker and 40+ crypto support), the VirgoCX Mobile App (iOS/Android), and VirgoCX API (for developer integration). Supporting modules include the Tiered Rewards Program (up to 9 tiers, 90% spread discounts), Virgo Referral Pilot Program (uncapped commissions), Virgo Boost Program, Virgo PLUS Program, and Virgo Shop (gift cards). VirgoCX was founded in 2018 and is registered with FINTRAC as a money services business.

Differentiator

Problem solved

Functional benefit

Brands

• Virgo Market LIVE: Chrome browser extension for tracking cryptocurrency prices in real-time
• VirgoOTC
• VirgoCX Wealth

Products and services

• VirgoCX Crypto Trading Platform Main cryptocurrency trading platform offering buy/sell functionality for 90+ cryptocurrencies including Bitcoin, Ethereum, and popular altcoins with free CAD/USD deposits via Interac, competitive pricing with tight spreads, instant funding, and self-custody options. Targets Canadian retail crypto traders.
• VirgoCX Wealth (OTC Desk) Premium over-the-counter service providing 24/7 institutional liquidity for cryptocurrency trades over C$50,000 with Chat Broker for personalized large block transactions, same-day settlement for USD and CAD trades, and direct market access for 40+ cryptocurrencies. Targets institutions, investment funds, trading firms, miners, and high-net-worth individuals.
• VirgoCX Mobile App Mobile cryptocurrency trading application available on iOS App Store and Google Play Store for trading on the go, supporting multiple CAD/USD funding options. Targets Canadian retail crypto traders who prefer mobile access.
• Virgo Market LIVE Chrome browser extension for tracking cryptocurrency prices in real-time, providing live market data and price alerts directly in the browser. Targets active crypto traders monitoring multiple assets.
• VirgoCX Public API Public REST API enabling traders and developers to access the latest market data, place orders, and automate trading strategies through the VirgoCX platform. Targets algorithmic traders and developer integrators.
• Virgo Shop Retail gift card program allowing users to purchase gift cards with cryptocurrency, enabling conversion of crypto holdings to retail gift cards for everyday spending. Targets Canadian crypto holders wanting utility from their digital assets.

Quantifiable outcome

• Up to 90% off spread for top reward tier users
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Crypto.com: Global crypto exchange and platform serving Canadian retail with spot trading, staking, and Visa card products. Comparable retail offerings but with substantially larger scale, marketing budget, and product breadth.
• Coinbase: Large global centralized crypto exchange with Canadian registration and operations. Comparable in offering (spot, OTC, custody via Coinbase Custody) but vastly larger scale, broader product suite, and lower spreads than VirgoCX.
• Kraken: Global centralized crypto exchange serving Canadian retail and institutional clients. Comparable in offering breadth and institutional OTC services, with stronger global liquidity and brand recognition than VirgoCX.

Direct peers

• Bitbuy: Canadian-focused centralized crypto exchange offering spot trading of major cryptocurrencies to retail and institutional Canadian clients. Most directly comparable to VirgoCX by domestic focus, product scope, and target customer base.
• NDAX: Canadian centralized crypto exchange serving both retail and institutional clients with OTC and spot trading. Comparable to VirgoCX in Canadian regulatory positioning, dual retail/institutional offering, and FINTRAC registration.
• Coinsquare: Long-standing Canadian cryptocurrency exchange offering spot trading and institutional services. Directly competes with VirgoCX for Canadian retail and institutional traders under similar regulatory frameworks.
• Shakepay: Canadian crypto platform focused on retail Bitcoin and Ethereum buying/selling with Interac integration. Comparable to VirgoCX's retail motion and CAD funding UX, though narrower in asset coverage.
• Newton: Canadian crypto exchange offering commission-free trading across many cryptocurrencies. Direct competitor to VirgoCX for Canadian retail flow with similar zero-commission positioning.
• Wealthsimple Crypto: Canadian retail investment platform with a dedicated crypto product offering BTC, ETH, and other major coins to Wealthsimple's broad Canadian user base. Comparable retail-channel distribution and Canadian focus.

Others

• Fireblocks: Institutional digital asset custody and infrastructure platform that VirgoCX already partners with. Relevant as both a partner and adjacent infrastructure player in the institutional crypto services value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@virgo_crypto
• Facebookfacebook.com/virgocxofficial
• LinkedInlinkedin.com/company/virgocx
• Instagraminstagram.com/virgocx_official
• Xx.com/VirgoCX

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VirgoCX