Cornerstone FS, a overseas trade and funds options firm providing multi-currency accounts to companies and people by way of its proprietary expertise platform, is now authorised to function in Canada, after receiving a Cash Providers Enterprise licence from the Monetary Transactions and Experiences Evaluation Centre of Canada (FINTRAC).
Having obtained the MSB licence, which has been granted to an entirely owned Canada-registered subsidiary of the corporate, permits Cornerstone to function a funds firm in Canada, offering fee providers to Canadian companies and people.
The Cornerstone FS group intends to develop a full-service workplace in Canada, which is able to allow it to supply prospects with the high-touch service-led method that’s core to the Cornerstone providing.
Securing the MSB licence and establishing an workplace in Canada represents a key milestone within the Group’s acknowledged technique to broaden its geographic footprint and regulatory capabilities. The Cornerstone board defined that it believes it will speed up the corporate’s medium to long-term development ambitions and play a key half in its long-term home and world development technique.
James Hickman, CEO of Cornerstone, additionally commented on the information: “We’re delighted to obtain authorisation to function in Canada.
“Having obtained enquiries in Canada for our providers by way of our current community, the institution of a regulated enterprise will allow us to completely pursue such alternatives and leverage native fee rails and decrease transaction prices. This additionally types a part of our acknowledged technique to broaden our geographical footprint and regulatory capabilities to ship sustained development for the years to come back. We stay up for launching our enterprise in Canada and to persevering with our growth into additional markets.”
