Fully Licensed Canada MSB Bank In Toronto For Sale

Description

Business type: money services business

Location: Vaughan, Toronto, Ontario

Established: June 2024

Current status: fully operational

Licensing

MSB licence: in place

Licence validity: through December 2026

Licence renewal: stated as straightforward

Services

• Foreign exchange
• Money transfers
• Payment services
• Virtual currency operations

Customers

Active clients: approximately 150

Customer growth capacity: available

Banking relationships

• TD Bank
• Zenus Bank
• Zand Bank
• Banking Circle UK
• Intercash
• ClearBank

Correspondent banking relationships: established

Staff and operations

Owner operation: active

Employees: 6

Operating setup: turnkey

Financial information

Monthly operating obligations: approximately USD $25,000

Employee salaries: excluded from stated monthly obligations

Expansion options

• Increase active client base
• Expand Canadian financial services activity
• Expand international transaction activity
• Develop additional banking relationships