PassimPay gains Canadian MSB registration expands global crypto payment reach

PassimPay, a crypto payment gateway for businesses, has achieved a significant regulatory milestone by securing a Money Services Business (MSB) registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The registration, held under NILESPAY FINANCE INC. in Vancouver, British Columbia, provides a formal regulatory reference for PassimPay's services, enhancing trust for merchants and partners.

The MSB registration, numbered C100000852, adds a layer of regulatory transparency. It allows counterparties to conduct due diligence using a concrete company name, jurisdiction, and registration number. This step is crucial for merchants evaluating PassimPay's infrastructure, which supports 74+ cryptocurrencies and operates in 122 countries.

PassimPay's payment infrastructure offers automatic conversion into stablecoins or fiat currencies, with settlement times as quick as five seconds. Processing fees start at 0.5%, making it an attractive option for businesses looking to integrate crypto payments. The company has also undergone independent security audits by 10Guards and Hacken, further bolstering its credibility.

PassimPay is designed to help companies accept cryptocurrency payments and manage settlements across international markets. The combination of regulatory compliance, global reach, and robust security measures positions PassimPay as a reliable option for merchants exploring crypto payment solutions.