WeFi has received registration from the Bank of Canada as a Payment Service Provider (PSP).
WeFi is officially registered with the Bank of Canada under the Retail Payment Activities Act (RPAA), a new federal regulation for retail payment service providers (PSPs).
WeFi was among the first companies to receive this approval—a truly incredible step forward for our development and future growth.
👉 WHY IS THIS IMPORTANT?
A PSP (Payment Service Provider License) issued within Canada's national financial system is more than just another license.
For WeFi, this is one of the strongest and most recognized regulatory approvals in the world.
🌐 GLOBAL TRUST AND LEGITIMACY
– Regulated to Canada's strict federal standards
– Anti-money laundering (AML)
– KYC / Compliance monitoring
– Financial reporting
This places WeFi among the world's leading fintech companies and immediately increases trust among partners and government agencies around the world.
💳 DIRECT ACCESS TO BANKING INFRASTRUCTURE
With the registration, WeFi gains the basis for:
– Connections to the payment infrastructure
– Domestic and international transfers
– Legal conduct of electronic monetary transactions
– Creating reliable fiat-crypto bridges
This significantly strengthens our position as a true Deobanking platform, bridging traditional finance and blockchain.
🤝 STRENGTHENED CARD PARTNERSHIPS
As a PSP-registered company in a G7 country, WeFi becomes:
– A lower-risk and highly compliant partner for Visa, Mastercard and banks
– Admitted to advanced card and payment programs
– Ready to accelerate the launch of multi-currency and on-chain accounts
– Possesses advanced capabilities for calculations and optimization of interchanges
🌏 A POWERFUL PLATFORM FOR GLOBAL SCALING
The Canadian PSP license is recognized worldwide, expediting permitting processes in:
🇪🇺 EU
🇦🇪 UAE
🌏 Asia and Latin America
PSP regulation requires capital reserves, audits, and a transparent governance structure—ensuring WeFi's stability, reliability, and attractiveness to institutional partners.
This is a truly key milestone, transforming WeFi from an innovative crypto fintech into a globally recognized financial institution.
Congratulations to the entire WeFi community – together we are building the future of on-chain banking.
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