Kenyan Fintech WapiPay Secures Canadian MSB License for Crypto and Payments

Kenyan cross-border payments startup WapiPay received a Money Services Business license from Canada's FINTRAC, allowing it to offer foreign exchange, money transfer, and virtual currency services in North America.

• License granted by Canada's FINTRAC covers forex, money transfer, payments, and digital asset transactions
• This is WapiPay's first regulated base in North America, adding to its network across Africa, Asia, UK, and the Caribbean
• CEO Edward Ndichu says the move pairs traditional fiat rails with virtual currencies for faster cross-border settlements
• African remittance corridors remain the world's most expensive, averaging 7.7% to send $200 to Sub-Saharan Africa

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