What is Plasma?

Plasma is a Layer-1 blockchain built for high-volume stablecoin payments, offering fast, low-cost, and in some cases, zero-fee USD₮ transactions with full EVM compatibility. The platform provides stablecoin developers with integrated access to institutional-grade infrastructure, including card issuance, global on- and off-ramps, stablecoin orchestration, and advanced risk and compliance tooling, all delivered through vetted third-party providers.

What is XPL?

The native token of the network is XPL, which operates on the Plasma blockchain. XPL is used for network security through staking, validator incentives, and gas fees. The token has a total supply of 10 billion XPL, with approximately 1.8 billion XPL currently in circulation at the time of this publication.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset. 

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform. 

Wealthsimple has performed an assessment of whether XPL can be supported by Wealthsimple’s platform, including whether XPL is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated XPL based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of XPL, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created XPL;
• The supply, demand, maturity, utility and liquidity of XPL;
• Material technical risks associated with XPL, including any code defects, security breaches and other threats concerning XPL and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
• Legal and regulatory risks associated with XPL, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of XPL; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdiction regarding whether XPL, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple’s original assessment of those assets, including Wealthsimple’s assessment of the application of securities and derivatives laws. Any significant changes relating to XPL may result in changes to this Crypto Asset Statement and/or Wealthsimple’s ability to support XPL.

Like all other crypto assets, there are some general risks to investing in XPL. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading XPL. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision). 

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last updated: October 20, 2025