Canada’s MSB landscape is changing. FINTRAC is paying closer attention to MSB registration process, business addresses, operational presence and compliance readiness. At the same time, some MSBs are facing registration revocations or unexpected regulatory issues.
In this webinar, Advapay will explain what is currently happening in the Canadian MSB market, what registered and prospective MSBs should pay attention to, and what companies can do if their MSB registration is at risk or has already been revoked. We will also briefly cover the current regulatory landscape concerning PSPs in Canada.
The second part of the webinar will introduce Advapay’s new solution for MSB companies that need access to international payment rails, including accounts, SEPA, SWIFT and payouts in multiple local currencies. We will explain which companies it is designed for, what services it can support, and how it may help registered MSBs access the infrastructure needed to operate and scale.
Webinar agenda
PRESENTATION 1
Canada MSB registration update — what is changing?
Anastasiia Shamshyna, Head of Regulatory Affairs
Key topics:
🔹Current trends in Canadian MSB registration with FINTRAC
🔹FINTRAC’s approach to new MSB registrations
🔹How long MSB registration process takes in practice
🔹FINTRAC’s increased scrutiny of the business address and local presence requirements
🔹Why FINTRAC may ask about the business function behind the registered address
🔹MSB registration revocations and what to do if your MSB is at risk or has been revoked
🔹Risks connected with outdated contact details on file with FINTRAC
🔹Current trends in Canadian PSP registration with the Bank of Canada under RPAA
PRESENTATION 2
Introducing MSBgate — a new infrastructure solution for MSB companies
Ihor Kreshschenko, Chief Executive Officer at MSBgate
Key topics:
🔹The infrastructure challenge for Canadian MSBs
🔹Introducing MSBgate: one platform for accounts, safeguarding and payments
🔹Accounts, payment rails and FX capabilities, crypto on-ramp and off-ramp
🔹Solution for registered MSB and agency scheme
🔹Use cases and payment flows supported by MSBgate
🔹Safeguarding considerations
🔹Compliance by design
🔹Who can onboard and what are the main requirements?
🔹From application to live operations
Registration
Advapay at stake:
How can Advapay can assist you in launching your fintech, payment or crypto business?
- CASP Crypto license in Malta
- Assistance in EMI/PI licencing in the EEA/UK
- Registration of MSB company in Canada
- SRO membership in Switzerland
- Delivery of a comprehensive Core banking system encompassing back-office and white-label applications for end-users
- Assistance in payment infrastructure development
- BaaS-solutions in collaboration with our partners – EEA/UK licenced EMIs and PIs
