SwapMoney Successfully Completes Fintrac Registration, Expanding Its Financial Service Reach To Canada 

December 18, 2023
2 min read

SwapMoney, a UK–based Money Service Business has successfully completed its registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). With this, individuals and businesses in Canada who desire multicurrency virtual wallets and international money transfers can access Swapmoney’s payment solutions. This significant achievement marks a major milestone in SwapMoney’s commitment to providing secure, value for money and innovative financial services to a global audience.

FINTRAC registration is a rigorous process that involves compliance with stringent regulatory requirements. SwapMoney's successful registration underscores its dedication to upholding the highest standards of financial transparency, security, and compliance.

With this new registration, SwapMoney is poised to extend its financial services to the Canadian market, offering a wide range of convenient and efficient money transfer solutions to individuals and businesses alike; “Completing our FINTRAC registration is a significant step forward in SwapMoney's journey to becoming a trusted global financial partner. We look forward to strategic partnership with a Canadian bank as we have done in the UK with ClearBank, a partnership forged since 2021 that has allowed us collect and keep customer funds safe in a segregated account. We are positive that our experience in the UK and product offerings will put us in good stead to serve our Canadian customers even better. Canada here we come!” said Abiodun Okono, CEO and Co-Founder at SwapMoney.

Mr Okono expressed his excitement about the opportunity to serve the Canadian market and emphasized that expansion to Canada aligns with SwapMoney's mission to simplify international financial transactions and make cross-border payments as easy and affordable as local payments, he also promised Canadians that Swapmoney will remain committed to providing safe, reliable, and user-friendly financial solutions that empower its customers.

This landmark achievement and the company's dedication to continuous improvement of compliance and security has also birthed the launch of her new Mobile App available on iOS and Google Playstore; which will improve customer user experience, and deepen customer confidence in their financial transactions with Swapmoney.

About SwapMoney SwapMoney is a UK-based Money Services Business (MSB) launched in 2020 dedicated to simplifying cross-border payments for migrants, expatriates and SMEs. Licensed by the FCA with a commitment to compliance, security, and transparency, SwapMoney offers a user-friendly, safe and secured platform for individuals and businesses to send and receive money across borders. The company's mission is to empower customers with secure, accessible, fast, and efficient financial solutions, making cross-border payments easier and more convenient. Swapmoney offers remittance to over 100 countries such as Nigeria, Kenya, USA, China, Japan, Turkey, Europe, etc. in 30+ currencies.

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