The financial services landscape is constantly changing in Canada. The businesses involved in payments, money transfers, currency exchange, or digital assets need to stay vigilant about regulatory requirements.  For financial services companies that provide certain financial services to Canadian customers, a Canada MSB License has emerged as an important compliance criterion.  Many business owners ask...

It is important for every business to know the requirements for keeping a Canada MSB License Record.  In Canada, the regulatory requirements for money services businesses (MSBs) are stringent, designed to ensure transparency and contribute to anti-money laundering (AML) measures. Having a Canada MSB License is just the beginning; companies need to...

If you are a remittance business, cryptocurrency exchange or foreign exchange platform looking to accept customers in Canada, you might be wondering if you need to be based in the country to get a Canada MSB License.   No, you don't have to be a Canadian resident or physically located in Canada to register your...

Canada MSB License vs Foreign MSB License in 2026 highlights the essential regulatory difference that exists between companies incorporated in and doing business in Canada versus those incorporated abroad yet serving customers in Canada. Deciding whether a company will incorporate under a Canada MSB license scheme or operate a foreign MSB license equivalent will...

The FINTRAC MSB requirements and compliance rules form the basic framework for ensuring compliance for all MSBs functioning within or servicing clients in Canada, and understanding how to handle them appropriately is critical as the year 2026 approaches.   In case you intend to establish a Canada MSB License or grow an existing MSB, we will be able to offer you...

A question of how to operate MSB in Canada is widely discussed among businessmen and fintech companies that want to create their money service businesses according to regulatory requirements.   Experts at Tetra Consultants help our clients understand the necessary steps to be taken in order to work successfully as an MSB in Canada in accordance...

Benefits of MSB license in Canada include higher regulatory legitimacy, easier access to global financial markets, and better opportunities for growth of money service businesses in the fintech sphere. Canada is a country that is favored by firms that operate in the foreign exchange business, money remittance industry, cryptocurrency market, payment processing operations,...

Starting November 1, 2024, PSPs must complete RPAA registration with the Bank of Canada to continue providing payment services. On November 22, 2023, the Department of Finance Canada issued relevant regulations in Part II of Canada Gazette concerning the registration requirements. The RPAA refers to Payment Service Provider any person...