Olympia Financial Group has agreed to sell its wholly owned subsidiary, Olympia Currency and Global Payments (OCGPI) to Shift Connect.
The company did not disclose the financial terms of the transaction.
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OCGPI is a boutique foreign exchange and global payments firm. It offers customised currency exchange and cross-border payment services to individuals and small- and mid-sized businesses across Canada.
In a statement, Olympia said there will be no immediate changes to day-to-day operations.
The change in ownership will provide them with access to more currencies, additional banking relationships, and “elevated global payment infrastructure” though Shift Connect.
Olympia executive vice-president Craig Skauge said: “This transaction allows Olympia to sharpen its strategic focus while ensuring that Olympia Currency and Global Payments is well positioned for its next phase of growth.
“We are confident that Shift Connect is a strong partner for the business, its clients, and its employees.”
A Canadian financial services company, Shift Connect focuses on digital payments and financial technology. The acquisition is expected to further strengthen its position in the domestic financial services market.
The transaction is expected to complete on or before 31 March 2026, subject to Bank of Canada approval under the Retail Payment Activities Act (Canada), along with customary closing conditions.
Olympia Financial Group conducts most of its operations through a non-deposit taking trust company called Olympia Trust Company. It is licenced to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia.
