Regulatory scope of FTR MSB in Canada
Issue or exchange bills of exchange
Your enterprise issues or exchanges bills of exchange, traveler's checks or other similar negotiable instruments. Question-provide your own company's money order or traveler's check. Exchange-Repurchase your company's draft or traveler's check by returning the purchase price to the buyer.
foreign exchange trading
When you trade, you exchange one currency for another (for example, you exchange US dollars for Canadian dollars).
remittance
Transfer funds from one person or organization to another by electronic funds transfer network or any other method (such as Hawala, Hundi, Fei ch'ien and Chitti).
Payday loan
Provide a relatively small amount of short-term loans to be repaid on the borrower's next payday.
cash a check
A cash check issued to a specific individual or organization.
Virtual currency transaction
This includes virtual currency exchange and virtual currency transfer services.
Since 20 18, a large number of foreign exchange dealers have won this card at a high price. In 2020, MSB opened the business scope of virtual currency trading, and a large number of virtual currency platforms flocked to apply for this card, which shows the gold content of FTR MSB in Canada!
Detailed application process
The first step is to register a Canadian company.
The second step is to write the license application materials together with the Canadian company entity.
The third step is to submit it to the Canadian Financial Supervisory Authority for review.
Step 4: Answer the questions raised by the Financial Supervision Bureau (it is recommended to hire local lawyers to answer them, so as to improve the success rate of the application).
Step 5, get the approval message and wait for the next card.
Application case
Now many foreign exchange platforms and blockchain platforms are looking for reliable agency companies to assist in the application (crazy tips), which saves worry and effort. It takes almost a month to get the relevant information, and you don't need to fly to Canada!
I hope this answer will help you!