EN#0386 – Canadian MSB, pre-operational, registered with FINTRAC, for sale

An opportunity to acquire a Canadian company registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). Incorporated in British Columbia in 2024, the company was established to provide foreign exchange, domestic and international money transfer/remittance, and virtual currency-related services through a digital platform and mobile application.

The entity is currently pre-operational and has not conducted any MSB or customer transactions, providing a potential buyer with an established Canadian corporate and regulatory infrastructure that can be further developed under the buyer’s own business model.

Key Highlights:

• FINTRAC and RPAA Registration: The company is registered with FINTRAC as an MSB for activities involving foreign exchange dealing, domestic and international money transfer/remittance, and virtual currency-related services. The company’s registration process under Canada’s RPAA has already been initiated and is currently pending.
• Operational Status: The company has not commenced operations, allowing a purchaser to implement its own operating model without inheriting an existing customer or transaction book.
• Technology Infrastructure: An existing digital platform and mobile application infrastructure has been developed to support the proposed business activities.
• Payment Infrastructure: The company has an established relationship with Apaylo. Continuation of this relationship following an acquisition would be subject to Apaylo’s applicable change-of-control, KYC, and approval requirements.
• Compliance Framework: The company has established AML/CTF, KYC and customer identification, sanctions screening, record-keeping, transaction monitoring and related compliance policies and procedures.
• Monthly Expenses: Current monthly expenses are approx. CAD 1.7k, excluding salaries. As the company has not commenced operations, these expenses primarily relate to maintaining its corporate, regulatory, technology and payment infrastructure, with no material customer-servicing or transaction-processing expenses currently incurred.
• Corporate and Regulatory Position: There are no disclosed outstanding liabilities or regulatory matters. Existing director and beneficial ownership information may be updated following completion of the transaction, subject to applicable corporate, regulatory and third-party requirements.

This Canadian FINTRAC-registered MSB represents an opportunity for buyers seeking an established Canadian corporate and regulatory infrastructure for foreign exchange, remittance and virtual currency-related activities. Its pre-operational status, existing technology and compliance framework, pending RPAA registration and absence of an existing customer or transaction book provide a potential purchaser with a platform that can be further developed in line with its intended business model.

For further information on the sale of this Canadian FINTRAC-registered MSB, please contact our Mergers & Acquisitions team at info@salvusfunds.com. More entities for sale can be found within our Entity Acquisition or Sale page.

SALVUS Funds’ teams can be engaged for guidance on new license authorizations for investment, payment or crypto-asset services, ongoing regulatory compliance consultancy for regulated entities, and support in acquiring ready-made regulated or registered entities. 

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