Digital Wallet Compliance Services for Operators
A digital wallet that holds and moves user funds carries real compliance obligations. We help digital wallet operators meet the registration, safeguarding, and AML duties that their particular product triggers across Canada.
Holding Funds Means Real Obligations Here
A digital wallet that stores value and moves money is performing payment functions, and that brings regulation. Depending on what your wallet does, it can fall under Bank of Canada oversight, FINTRAC registration, or both. We help you see which regime your wallet lands in and what it must do to operate lawfully.
Safeguarding and AML Together
Wallet compliance is more than a registration. If you hold end-user funds, you have to safeguard them properly. If you onboard users and move their money, you need KYC, transaction monitoring across loads, transfers, and withdrawals, and sanctions screening. We help you build this operational stack, so your wallet is compliant in practice and not just registered on paper.
Regime Mapping
We identify whether your wallet falls under payment, money services, or both.
Fund Safeguarding
We help you safeguard the end-user funds your wallet holds correctly.
AML Controls
We build KYC, transaction monitoring, and screening across your wallet activity.
Ongoing Compliance
We keep your wallet compliant as it grows and adds new features.
Ready to Simplify Your Compliance?
Wallet Operators We Support
We support e-wallet providers, mobile payment apps, prepaid and stored value platforms, crypto wallet operators, and the other businesses holding or moving user funds under the PCMLTFA and payment regimes.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Operators Choose Our Compliance
Right Regime
We pin down exactly which rules your wallet falls under, so you comply in the right place from the start.
Funds Protected
We help you safeguard end-user funds properly, so a core obligation of holding money is met with confidence.
Practically Compliant
We build the operational controls your wallet actually runs on, so compliance works in practice, not only on paper.
Serving Wallet Operators Across Canada
We support wallet operators right across the whole of Canada, from Toronto and Montreal to Vancouver and Calgary, and foreign wallet providers serving Canadian users wherever they happen to be based.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
Digital Wallet Questions
Clear answers to the questions operators ask most about the compliance obligations of running a digital wallet across Canada under the PCMLTFA.
Does my digital wallet need registration?
Likely yes. A wallet performing payment functions can require Bank of Canada registration, and money transfer or exchange can add FINTRAC registration.
What does wallet fund safeguarding mean?
If your wallet holds end-user funds, you must protect them properly so they are secure and available, a core obligation of holding money.
What AML controls does a wallet need?
Typically KYC at onboarding, transaction monitoring across loads, transfers and withdrawals, sanctions screening, and record keeping suited to your wallet.
Do crypto wallets have the same duties?
Often more. A crypto wallet can face virtual currency obligations on top of the standard payment and AML duties a wallet carries.
How is this different from PSP registration?
PSP registration is one piece. Wallet compliance covers the whole picture, including safeguarding and the AML controls your wallet runs on.