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Licensing

If you plan to engage in activities such as transferring funds, accepting deposits, or lending money as an intermediary, you are likely required to obtain a license, regardless of your location. In the past, obtaining a license to perform these types of financial services was typically only available to traditional banks.

However, advances in technology and communication have allowed fintechs and entrepreneurs to create new and innovative financial services solutions for customers.

Primary Licensing Regimes

Click the link below to go directly to the main pages for:

General Understanding

A money transmitter or money transfer license is a crucial requirement for businesses that transfer funds across geographical or across state boundaries. However, the process can be complex and time-consuming. We can help you navigate this process by connecting you with specialized solution providers who are experienced in obtaining licensing and regulatory coverage for money transfer businesses in various regions, including the US, Canada, the UK, Europe, and Australia/New Zealand.

Country/Region Specific Licensing

We can assist you with your licensing options (applying for a new license, becoming an agent, renting one, being sponsored by one, etc.) in various geographies around the world, specifically the most commonly requested ones (see below):

USA (UNITED STATES OF AMERICA):
Main page for US MSB (Money Services Businesses) classification and Money Transmitter Licenses.
CANADA:
Information on MSB Money Services Businesses and FMSB Foreign Money Services Businesses license registration in Canada.
EU (EUROPEAN UNION):
Information on the various European (Small Payment institution), API (Authorized Payment institutions), and EMI (Electronic Money Institutions) as well as passporting.
LITHUANIA:
Information on the API (Authorized Payment institutions), and EMI (Electronic Money Institutions) licenses as well as passporting of licenses as issued by the Bank of Lithuania.
ESTONIA:
Information on crypto exchange & wallet licenses as issued by the financial regulator in Estonia.
SINGAPORE:
Overview of the various licenses offered by MAS (Monetary Authority of Singapore).
UAE (UNITED ARAB EMIRATES)
UK (UNITED KINGDOM):
Information on the UK FCA’s SPI (Small Payment institution), API (Authorized Payment Institution UK), and EMI Electronic Money Institution UK.
TURKIYE
Information on Turkiye’s E-Money License and Cryptocurrency License.

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This page was last updated on February 6, 2023.