Pundi X is now registered with FINTRAC as the Money Service Business in Canada.
This registration enables Pundi X “to conduct virtual currency and payment service provider businesses in the country, and marks an important milestone in the company’s expansion efforts.”
Zac Cheah, CEO and Co-founder of Pundi X Labs, said:
“We are thrilled to complete this registration from Money Service Business, which allows us to offer our innovative blockchain-based payment solutions to customers in Canada. We believe that blockchain technology can revolutionize the way people make payments, and we are excited to bring our solutions to the Canadian market.”
The registration with FINTRAC allows Pundi X “to operate as a money service business in Canada.”
The company can now “provide services related to the virtual currencies, as well as payment processing services.”
Pundi X is committed “to complying with all relevant regulations and ensuring that its services are secure, reliable, and user-friendly.”
Cheah added:
“We are committed to providing our customers with the best possible web3 payment solutions, and we are confident that our technology will be well-received in Canada. We look forward to working with businesses and individuals across the country to help them streamline their crypto payment processes and take advantage of the benefits of blockchain technology.”
Based in Singapore, Pundi X was founded in 2017 “with the aim of harnessing the power of blockchain technology to make a more secure and inclusive world.”
The company is “responsible for developing the XPOS, a point-of-sale smart device that allows brick-and-mortar stores to transact on the blockchain.”
Pundi X has also been “selected as one of the top 50 Innovative Fintech Startups in 2018 by KPMG and H2 Ventures, cool vendors in blockchain business by Gartner, and top 10 fintech leaders by Singapore Fintech Association.”
Pundi X is also pleased to announce its latest partnership with Binance Pay.
This partnership will bring Binance Pay, Binance’s payment service, to Pundi X’s XPOS devices, “enabling thousands of merchants across 30 countries to accept payments in cryptocurrencies more easily.”
Binance Pay, “backed by Binance, allowing users to easily manage their crypto assets and complete transactions from their Binance account.”
Additionally, Binance Pay has “built-in security features, such as multi-signature support and secure key management, to help ensure the safety of users’ funds.”
Pundi X CEO Zac Cheah said:
“The partnership emphasizes our commitment to streamlining crypto transactions that are accessible for all. Binance’s influence in the crypto industry makes this partnership a great opportunity to bring more users and merchants into the blockchain ecosystem.”
