Cornerstone FS to launch in Canada

Rick Steves

“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.

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.


    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.