SINGAPORE, March 27, 2023 /PRNewswire/ — Pundi X, a leading developer of blockchain-based payment solutions, announced that it has been registered with FINTRAC as a 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.
“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,” said Zac Cheah, CEO and Co-founder of Pundi X Labs. “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.
“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,” said Cheah. “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.”
About Pundi X Labs
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.
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