We are physically located in Canada, keeping direct contact with the regulatory authority, understanding the legislation and compliance requirements
We know how to open accounts for customer funds in banks and financial institutions across the globe
We provide a turnkey solution including but not limited to compliance-as-a-service support and banking software
Canadian money services business (MSB) is a company registered with Canada's financial intelligence unit and anti-money laundering supervisor FINTRAC and authorized to perform the following activities
Canadian MSB is the most cost-effective and time-efficient solution to launch a fintech company
MSBs in Canada are commonly used to build a bridge between the Western world and the emerging markets
MSB registration covers both fiat and crypto services
It usually lasts for 3-4 months and consists of several steps
To become operational, you need to onboard with partner banks and integrate your IT solution with them.
We will register your MSB within the fastest timeframe on the market.
We will develop a set of compliance policies to ensure compliance with legislation and smooth operations.
We will develop a business plan which is necessary to open accounts in financial institutions.
We ensure your MSB's ability to provide accounts for your customers and enable various payment services with traditional currencies and crypto assets.
We provide your MSB with a full range of ongoing compliance services.
Over 40 software customers, mostly licensed financial institutions. More than 60 active consulting projects, 5 offices, 50 team members
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Advapay Canada is a subsidiary of Advapay - an international fintech consulting company and banking software vendor
“Working with Advapay was crucial to our successful establishment as a fully operational Money Services Business (MSB). They not only guided us through the intricate process of MSB registration but have also been a steadfast partner in crafting a comprehensive business plan and a robust suite of compliance policies. Their ongoing support has been vital in ensuring our operations align with FINTRAC's regulations. The personalized attention and dedication to our success have far exceeded our expectations, making them an indispensable partner for our business's regulatory and banking needs”
“Advapay is our long standing partner that has been helping us navigate Canadian regulatory landscape since early 2023. Advapay’s team of seasoned industry professionals played a significant role in turning our vision for becoming a major remittance aggregator into reality. Given that our business involves operations in some higher risk countries also, Advapay’s expertise in developing and implementing a robust compliance program has been ensuring our safe and sound operations.”
“As Xflow decided to expand its services, we started looking into Canadian MSB registration as a quick and efficient way to operate under our own financial license. We were referred to Advapay by our partners and friends, and it was spot on. Advapay’s team has clearly explained all the features of the MSB registration and took care of the whole project in Canada. We are highly satisfied with Advapay’s services and can recommend them for other Fintechs that are interested in Canadian MSB registration”
