Patricia Secures an MSB License in Canada.

Patricia?Technologies, Africa’s leading?Crypto?exchange company has been granted a Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre of Canada (FinTRAC).

This license allows Patricia to legally and optimally function in her capacity as a non-bank financial institution in Canada, to deal in currency exchange services, money transfer services, as well as virtual currency transactions.

As of March 2021, in a public notice by the CSA and IIROC (Canadian Investment Regulatory Organization), Canada has asserted its position in regulating cryptocurrency activity, and the government has thus far ensured that all cryptocurrency exchanges and companies comply with the regulations.

Since the use of virtual currency is not prohibited in Canada, but it is not considered legal tender, every cryptocurrency exchange must register with the Financial Transaction Analysis Center of Canada (FinTRAC), as well as have the securities legislation applicable to its cryptocurrency transactions.

Commenting, CEO and Founder, Fejiro Hanu Agbodje, said, "This is big news for our customers, partners, as well as stakeholders. It is an important milestone in our 5 years growth story.

Driving global crypto adoption is in line with our goal of making crypto easy across the continent. "For the past year, Patricia has worked hard on this, and once again, they have broken through another threshold.

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