On February 15th, Epay.com officially obtained the US MSB financial service license.
Before it, Epay has been certified the “License For Operating Money Service” in 2014 at HongKong. Now it is officially registered US MSB under FinCEN. Which indicates that Epay’s financial business in the United States is about to enter a new level.
So. How important to get an MSB license?
It is understood that the MSB (Money Services Business) is a financial license supervised and issued by FinCEN (Financial Crimes Enforcement Network ,a division of U.S. Department of Treasury), mainly to supervise money service-related businesses and companies including international remittance, foreign exchange, currency trading/transfer (including digital currency/virtual currency), ICO issuance, provision of prepaid items, and issuance of traveler’s checks. Companies engaged in the above-related businesses in the United States must apply for an MSB license in order to operate legally.
In March 2018, the US Treasury and the Securities and Futures Commission made it clear that MSB is a must license for cryptocurrency trading platform and its administrator to engage in digital assets related businesses in the United States, The MSB license can help Epay to enter the US market and realize to transact between digital currency and the US Dollar, which will greatly benefit the development of the blockchain.
What is the impact of MSB on Epay?
The MSB license is highly compatible with the main business of Epay. it will be beneficial to the further development of Epay’s business in the United States. At present, Epay offers a variety of international mainstream currency-related services including US Dollar, EUR, GBP, HKD, JPY, AUD, etc. Users can easily do global remittance, currency exchange, online replenishment, and other transactions through it.
At the same time, By strict risk control and auditing standards, Epay has continuously introduced qualified remittance providers, and gradually established a comprehensive and compliant operating system to ensure the safety of every payment in the platform.
Starting with the successful acquisition of the MSB license, Epay will continue to increase its global compliance investment, bringing a more convenient, safe and quality service experience to users and partners around the world.