Who we serve
If you hold money that is not yours, this page is about you.
Our clients are companies that carry out payment functions for, or hold funds belonging to, their end users.
Holding funds
End-user money sits with you before it is withdrawn, paid out or passed on. A wallet balance between top-up and spend. A marketplace holding seller proceeds pending settlement. A payroll platform accruing earnings between cycles.
Payment functions
Clearing, settlement, initiating an electronic funds transfer, and transmitting or facilitating a payment instruction. Some firms perform these without ever holding a balance, and are inside the regime anyway.
The obligation is triggered by performing the function, not by how long the money sits with you. An hour is enough. Overnight is enough. The length of an FX settlement is enough.
Firms we work with
Money services business
FINTRAC-registered to transfer money or exchange currency
Instead of routing USD through correspondent banks to reach a partner abroad, the firm buys tokens at one end and its partner cashes out at the other. Only the middle leg changes.
US MSB or PSP
Payment business based in the United States
At high risk of debanking. A Canadian bare trust, or a Canadian MSB with safeguarding, materially reduces it.
Non-Canadian PSP or fintech
Headquartered in the EU, Asia or Africa, with no Canadian entity
Seeking US settlement and clearing. A Canadian MSB with a safeguarding trust is the entry structure, not an add-on.
Payment service provider
Processes payments for merchants and platforms
Settles merchants same-day in USD or CAD in markets with poor banking access, rather than waiting on a wire.
Fintech holding balances
Wallets, neobanks, card programmes
The balance a customer sees in the app is held on their behalf, as a token or as cash in a pooled account.
Marketplace, payroll and gig
Hold funds between payer and payee
Pay sellers, contractors and drivers across many jurisdictions without separate local banking in each.
Embedded finance platform
Software businesses that have added payments
Client balances held for many downstream businesses, one obligation, and no appetite to build fiduciary infrastructure.
On/off-ramp and custodial wallet
Hold tokens or keys, or convert between cash and tokens
This is the business, not an addition to it, the client type Bill C-15 names most directly.
Stablecoin issuer
Issues tokens backed one-for-one by reserves
Reserve trusteeship, custody of reserve assets, redemption paying-agency and attestation. Small in number, large in balances.
What they have in common
Three things are true of every firm on this page.
- They hold money belonging to other people.
- They carry out payment functions for end-user funds.
- They cannot readily prove whose money is whose, and their banking depends on being able to.
That has been the MDD proposition since before stablecoins entered the conversation. Firms dealing in stablecoins are the same clients, in greater numbers, arriving through a new door.
One integration. Safeguarded, banked, reconciled.
Talk to us about integrating with the orchestration platform, or about any single service in it.