Remi Secures Its Money Services Business license in Canada

A quiet milestone, but an important one. Remi Network Inc., our Canadian entity, now holds a Money Services Business (MSB) license.

From connecting to settling

Up till now, Remi's job has been coordination. We connect the licensed banks and exchange houses that move money across borders, and we handle the routing, liquidity and compliance between them.

A license of our own changes what Remi can be. It gives us regulated footing to take part in the flow directly, as a settlement network in our own right, instead of only connecting the institutions on either side of it.

What it opens up for partners and clients

The license positions Remi to offer more of the stack itself:

• A single regulated counterparty to settle with, instead of a separate arrangement with every institution on the other side of a corridor.

• More of the transfer and foreign exchange flow handled inside the network, with fewer handoffs and fewer intermediaries along the way.

• A licensed entity with its own compliance program for institutions to run their due diligence on, which makes onboarding faster.

• A way into new send markets through Remi's network, without each partner standing up its own presence in every one.

The next step: holding and managing funds

The license is also the foundation for our next step, a payment service provider (PSP) registration, which is in progress.

That's the step that would let Remi hold, safeguard and manage funds on behalf of its partners and their users. Balances, treasury and payouts could then sit inside one regulated network, instead of being spread across every institution a payment touches.

It's what turns Remi from a network that coordinates money into infrastructure that can also hold it.

What doesn't change

Our licensed partners stay at the heart of the network. They carry licensing, custody and KYC on their side, and Remi adds a second layer of compliance and monitoring on top. We'll share each new step as it lands.