The Canadian banking system is considered one of the most reliable in the world, especially for MSB Licenses. As the ninth-largest economy globally, Canada is the only country that meets all key criteria, such as technology, corruption levels, stock market conditions, bureaucracy, and investor protection.

Payment systems in Canada, along with banks, play a significant role in the financial sector. The Canadian government has established favorable requirements for businesses wishing to provide financial services. This not only attracts local citizens but also foreign investors, contributing to the development of the financial sector.

A Money Service Business (MSB) is a legal term used to describe any business that provides financial services outside of traditional banking institutions. These services can include currency exchange, money transfers, check cashing, and other forms of financial transactions. MSBs are subject to specific regulations and compliance requirements, particularly concerning Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. These measures aim to prevent illicit activities such as money laundering and terrorist financing. Examples of MSBs include money transfer companies, currency exchange offices, and prepaid access providers.