Licensing

Moneyspace is the trade name of PAYCORE TECHNOLOGY CO., LTD, a corporation incorporated in Canada under the Canada Business Corporations Act. This page explains how we are registered, what that registration means, and what it does not mean.

Our registration

PAYCORE TECHNOLOGY CO., LTD is registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) as a money services business (MSB) under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

How to check it yourself

You do not have to take our word for it. Anyone can look up our MSB registration, including the activities it covers and its current status, in FINTRAC's public Money Services Business Registry. Search for our legal name, PAYCORE TECHNOLOGY CO., LTD.

What registration means

MSB registration means that we are known to Canada's financial intelligence unit and that we must meet Canadian anti-money laundering and anti-terrorist financing obligations. In practice, this means we:

• run a compliance program with a designated compliance officer, written policies and a risk assessment;
• identify and verify our customers where the law requires it;
• keep records of customers and transactions for at least five years;
• report suspicious transactions and other prescribed transactions to FINTRAC.

We also screen customers and transactions against Canadian and international sanctions lists.

What registration does not mean

It is important to be clear about the limits of our status:

• We are not a bank and we do not take deposits. Your balances with us are not bank deposits.
• Your balances are not insured. They are not covered by the Canada Deposit Insurance Corporation (CDIC), the U.S. Federal Deposit Insurance Corporation (FDIC) or any other deposit insurance or investor compensation scheme.
• Registration is not an endorsement. FINTRAC registration is not a licence to provide banking or investment services, and it does not mean that FINTRAC or any other authority approves our services or guarantees our financial position.
• We do not provide investment, securities or lending services, and we do not give investment, legal or tax advice.

Our payments partner

Our USD and EUR account details and payouts to bank accounts are provided through Bridge (bridge.xyz), a separate company that holds its own licences and registrations. Depending on where you live, Bridge's services are provided by Bridge Building Inc. (United States), Bridge Building S.A. (European Economic Area) or Bridge Building Limited (elsewhere). Bridge publishes its U.S. licences and registrations and non-U.S. licences on its website. Bridge's licences belong to Bridge; they are not ours.

Where we operate

We operate only online, through https://moneyspace.io and https://app.moneyspace.io. We have no branches and we do not handle cash. We serve individuals and businesses around the world, except in the jurisdictions listed in our Prohibited Jurisdictions and Activities policy. Some services are not available in every country, and we do not offer our services anywhere it would be unlawful for us to do so.

Questions

If you have questions about our registration, write to legal@moneyspace.io.