The global financial settlement network registers with Canada’s FINTRAC as a Money Service Business to provide superior cross-border solutions in the region
EMQ, a global financial settlement network, announced its latest gateway expansion in Canada to bolster its presence across North America. The company is also registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Service Business (MSB). This will enable EMQ to provide consumers and businesses in Canada with a faster, transparent, and more consistent cross-border payments experience.
“Canada is among one of the leading remittance sending markets in the world. This year, digital remittances in the country make up a value of over US$1.4 billion and is expected to reach US$2 billion in 20231. To support the rapidly growing demands for cross-border settlements, customers will require a network infrastructure that can facilitate faster, secure and real-time payments,” said Max Liu, co-founder and CEO of EMQ.“With our new Money Service Business registration, we can now connect EMQ’s global network to Canada and provide increased access and value-added services to the financial sector.”
Powered by EMQ’s global financial settlement network, customers in Canada will be able to make and receive payments quickly and transparently from over 80 key global markets. This will further enhance digital international payment offerings across North America.
“As a network infrastructure provider that connects the whole payments ecosystem, our goal is to enable everyone to send money anywhere in the world and to any end point in a fully compliant and transparent manner. Our expansion to Canada marks another major milestone in our journey to fulfill this promise,”Liu added.
The latest development comes on the heels of a recent series of expansion initiatives to bolster EMQ’s network infrastructure globally, which currently spans across Asia Pacific, Africa, Canada, Europe and the United Kingdom. EMQ is also licensed in Hong Kong, Singapore, and Indonesia and was accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.
Form3 and Barclays has announced that it has enabled access to the SEPA Instant payment scheme for FinTechs, with Ebury as the launch client.
Form3, the leading cloud-native, payment technology provider, and Barclays, a leading provider of financial services to regulated payment institutions, have announced a combined directly connected access solution to the SEPA Instant payment scheme with Ebury as launch...
Conviction Investment Partners, today announced that it has managed and completed pre-series A financing for Konsentus, a provider of Regulatory Technology (RegTech) solutions for open banking. Conviction led the multi-million pound investment after recognising...
Singapore FinTech Festival 2019 summary of activities from the Fintech Power 50: Singapore FinTech Festival 2019 has proved another resounding success. Inaugural SFF x SWITCH sees over 60,000 participants from 140 countries; event to return on 9-13 November 2020....