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WapiPay, a Kenyan cross-border payments fintech, has entered the North American market after securing a Money Services Business (MSB) licence from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), part of the company’s global expansion.
The licence allows the company to offer foreign exchange, money transfer, and payment services in Canada through a newly established subsidiary, while also providing regulatory approval to handle virtual currency and digital asset transactions.
The approval gives the Nairobi-founded company its first regulated operational hub in North America, extending a payments network that already includes Africa, Asia, the UK and the Caribbean.
“Securing a footprint in North America through obtaining a Money Services Business licence is a massive milestone for WapiPay,” co-founder and CEO Edward Ndichu told TechCabal on Saturday.
