GenioPay launches in Canada, acquires MSB License

GenioPay, a worldwide transfer network, has expanded its services to millions of consumers after receiving a Canada MSB License (Money Services Business). Being licensed enables an organization’s capacity and dedication to build a secured environment to battle criminal elements, safeguard users, and deliver excellent service to customers, which is leading in the market.

Feb. 3, 2024
GenioPay launches in Canada, acquires MSB License

Since its founding in 2020, GenioPay has steadily developed a valued solution that is ready to revolutionize transfers of banks by making global transfers 8X more affordable for customers.

For GenioPay to realize its goal to develop into a worldwide bank that services millions of customers, Canada, which is home to numerous multinational fin&tech start-ups, has granted acceptance to a Canada MSB License. It is a system that takes pride in its openness and allows customers to compare prices and decide on the best course of action financially.

Most of the residents use banks or internet platforms to send money abroad. As indicated by notable growth in the volumes and prices of digital transmissions at the end of 2020 with banking laws limiting entrance into the marketplace, citizens of Canada are rapidly adopting these instruments to remittances.

Obtaining an MSB license in Canada allows clients to make deposits into their e-wallets and send funds abroad at a very cheap cost.

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