XlentPay is proud to announce that it has officially received its Money Services Business (MSB) licence from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), under MSB Registration Number C100000337.
This regulatory milestone is a major step forward in XlentPay’s growth journey and represents a key component of our broader strategy to ensure market readiness ahead of our anticipated launch in 2025. It further validates our commitment to operating within a secure, fully compliant framework that protects our users and builds long-term trust.
Setting the Standard in Regulation and Compliance
At XlentPay, we believe that trust begins with transparency, and that security and compliance are not optional — they are foundational. From day one, we have embedded regulatory integrity into the core of our platform, ensuring that we are not just ready to enter the market, but to lead it.
Our FINTRAC MSB registration signifies that XlentPay is officially recognized as a compliant entity authorized to offer payment and money transfer services within Canada’s regulatory landscape. It demonstrates our alignment with federal financial regulations and our active role in upholding the integrity of the financial system.
How XlentPay Protects Clients Through Robust Operational Standards
Regulatory Oversight
XlentPay is now a registered Money Services Business (MSB) and an authorized Payment Service Provider (PSP) operating under FINTRAC’s regulatory authority. This registration allows us to conduct money transfers and payment processing services in accordance with Canadian financial laws.
AML and KYC Protocols
Our compliance program includes robust Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, aimed at detecting and preventing financial crime while protecting both our users and the financial system at large.
Global Standards Alignment
XlentPay’s operations are aligned with leading international frameworks such as the Financial Action Task Force (FATF) guidelines for anti-money laundering and counter-terrorist financing. In addition, we follow GDPR-compliant data protection practices, ensuring that our users’ personal and financial data is managed with the highest level of care and integrity.
Auditing and Ongoing Transparency
To maintain the highest standards of accountability, we conduct regular security audits, risk assessments, and internal reviews. These practices ensure that our operations remain transparent, up-to-date with evolving compliance requirements, and continuously optimized to protect our clients and stakeholders.
Building for Market Readiness
The MSB registration is a foundational component of our Market Readiness Plan, which includes the rollout of robust financial infrastructure, layered security protocols, and user-focused services designed to meet the needs of modern, mobile-first consumers. As we progress toward our official launch in 2025, regulatory compliance will remain at the center of our strategic priorities.
This achievement not only marks our entrance into a regulated financial environment but also sends a clear message to our users, partners, and future investors: XlentPay is serious about compliance, committed to transparency, and fully prepared to operate within the highest standards of global financial conduct.
What Comes Next
We are excited to continue building a platform that reflects the trust and security today’s users expect. This licence is just the beginning. Over the coming months, we will continue to strengthen our infrastructure, expand our partnerships, and prepare for a market entry that reflects the confidence and credibility we’ve built behind the scenes.
We thank our internal compliance and operations teams for their dedication throughout this process and look forward to sharing more updates as we move closer to launch.
If you have questions about our MSB registration or compliance policies, please contact us directly or visit our help center.