Change in Wise Canadian customer agreement
Its clear, Wise uses third party banks to provide its services, including Canada. This may not be a new change but the fact Wise doesn't offer CDIC coverage should concern anyone who is holding money in a Wise Canadian account. At least don't hold any more money then you are willing to lose.
New wording:
Money you hold with Wise, in any currency, is not insured by any deposit protection scheme, including the Canada Deposit Insurance Corporation (CDIC) and represents an unsecured claim against Wise. Except where otherwise provided under the terms of a specific product or program, Wise owns the interest or other earnings on these investments, if any. Wise does not use balances held by its customers for operating expenses or other corporate purposes. In addition, as discussed above, the specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by Wise and its affiliates (and we will credit your Wise Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you.