Deus X Pay, a regulated virtual asset service provider, has obtained a Canadian Money Services Business (MSB) license and registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
This approval opens a new chapter, enhancing Deus X Pay’s capability to facilitate effective and seamless interactions between traditional finance and virtual assets.
With this license, Deus X Pay is now authorised to provide regulated financial services in Canada, including money transfers and virtual asset transactions. This development cements Deus X Pay’s position as a trusted financial partner to service a vast range of client cash/fiat and virtual asset needs through a globally regulated ecosystem. By achieving and maintaining compliance with FINTRAC's robust regulatory regime, Deus X Pay ensures a secure and transparent platform that empowers businesses to scale confidently.
“Client safety is at the heart of everything we do at Deus X Pay,” said Richard Crook, CEO of Deus X Pay. “Securing the FINTRAC MSB license is an important milestone in our mission to meet our clients' end-to-end needs across all asset classes with speed, cost efficiency, and security while upholding our steadfast commitment to compliance security. Canada represents a vital market for digital assets, and this license enables us to offer regulated and seamless transactions to our institutional clients.”
Leago Papo, Chief Risk Officer (CRO) at Deus X Pay, added, “Regulatory clarity is essential for businesses, and obtaining the MSB license further strengthens our ability to operate transparently and securely. This approval underscores our commitment to adhering to the highest global compliance standards while supporting our clients' increasingly complex commercial needs. We look forward to working within Canada’s strong regulatory framework to expand access to compliant digital asset services.”
As regulatory scrutiny rises globally, Deus X Pay’s dedication to compliance guarantees that businesses can access stablecoin payment solutions compliant with international financial regulations. In addition to the newly obtained Canadian MSB license, Deus X Pay is also regulated as a Virtual Asset Service Provider operating in Lithuania, supervised by the Financial Crime Investigation Service (FNTT), and in the Czech Republic, monitored by the Financial Analytical Office (FAU). This latest milestone solidifies Deus X Pay’s role as a leader in regulated digital asset services, instilling the confidence for enterprises to seamlessly incorporate stablecoins into their financial operations.