Kenyan cross-border payments fintech WapiPay has taken a major step in its international expansion by entering the Canadian market after securing a Money Services Business (MSB) licence from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The approval marks a significant milestone for the Nairobi-based company as it pushes deeper into North America’s regulated financial ecosystem.
The licence allows WapiPay to legally offer foreign exchange, money transfer, and payment services in Canada through a newly established subsidiary. It also grants the company regulatory clearance to handle virtual currency and digital asset transactions, positioning it to serve both traditional remittance users and emerging digital finance markets. (TechCabal)
Founded in Kenya, WapiPay has built its reputation as a cross-border payments platform focused on simplifying how money moves across Africa, Asia, Europe, and beyond. The company enables users and businesses to send, receive, and settle payments through local payment rails such as mobile money, bank transfers, and digital wallets, with transparent pricing and real-time exchange rates. (WapiPay)
By securing a foothold in Canada, WapiPay is extending its already growing global network, which includes corridors in markets such as the United Kingdom, the United States, India, China, and several African countries. The move also gives the company its first regulated operational base in North America, a region known for strict compliance requirements and high barriers to entry for fintech firms.
According to the company, the expansion is part of its broader strategy to connect fragmented payment systems across regions and reduce friction in cross-border transactions. The MSB licence is expected to strengthen trust with partners, improve settlement capabilities, and open new opportunities for diaspora remittances between Canada and Africa.
Industry analysts view the development as part of a larger trend of African fintech firms expanding into global markets, leveraging regulatory approvals to compete with established international payment providers.
With this entry into Canada, WapiPay is positioning itself not just as a regional African fintech but as a global payments infrastructure player aiming to bridge multiple economies through a unified cross-border network.
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