Cornerstone FS to launch in Canada
“We are delighted to receive authorisation to operate in Canada. Having received enquiries in Canada for our services through our existing network, the establishment of a regulated business will enable us to fully pursue such opportunities and leverage local payment rails and lower transaction costs.”
Cornerstone FS has announced its authorization to operate in Canada, having secured a Money Services Business (MSB) license from FINTRAC, the national regulatory authority.
This license enables Cornerstone FS to offer payment services to both businesses and individuals across Canada. The company is planning to establish a full-service office in the country, marking a significant step in its strategy to widen its geographical presence and enhance its regulatory capabilities.
Multicurrency accounts and international payment solutions
Cornerstone FS offers a range of financial services designed to facilitate international payments and currency management for both businesses and individuals.
Their offerings include multicurrency accounts, international payment solutions, and bespoke solutions tailored to specific client needs. These services aim to simplify the complexities associated with international transactions, allowing clients to trade in over 37 key currencies and send funds to numerous countries globally.
Cornerstone FS leverages its proprietary technology platform to deliver these services, ensuring secure and efficient transaction processing. The company is recognized for its expertise in international payments and currency exchange, supported by a team of dedicated specialists who assist clients with their currency management and international payment requirements.
“Leverage local payment rails and lower transaction costs”
James Hickman, Chief Executive Officer at Cornerstone FS, said: “We are delighted to receive authorization to operate in Canada. Having received inquiries in Canada for our services through our existing network, the establishment of a regulated business will enable us to fully pursue such opportunities and leverage local payment rails and lower transaction costs. We look forward to launching our business in Canada and to continuing our expansion into further markets.”
Hickman joined Cornerstone FS as CEO in mid-2022 after more than 19 years within the payments industry, having previously played the role of Chief Revenue Officer at Dublin-based fintech business, Fire Financial Services Ltd. Prior to that, he was CCO and Managing Director at Equals and Caxton FX, respectively.