MixPay Gains MSB Approval

MixPay, a decentralized cryptocurrency payment service platform built on Mixin Network, announced that it received approval on June 13, 2022, from FinCEN to operate as a Money Services Business (MSB) in the United States.

Previously, local exchanges in the United States and global exchanges such as Binance and Huobi have successfully obtained the license to launch blockchain asset trading services for American users officially. MixPay is always compliance first as well. Achieving an MSB license allows MixPay to legally operate its business within the United States and allows Americans to send & receive cryptocurrency payments easily. Furthermore, MixPay expands its regulatory umbrella for partners and users, enabling fiat on/off-ramping for digital assets.

MixPay, based on Mixin Network and Mixin Messenger, is a crypto payment gateway that supports any cryptocurrency and fiat currency settlement and is friendly to ordinary users and developers. MixPay can separate payment, quote, and settlement in the underlying layer, support any wallet payment, and provide three settlement modes: individual, developer, and multi-signature account.

As its slogan goes:

MixPay, Payment for Web3.

Hundreds of offline merchants and online platforms have partnered with Mixpay to make it easier to receive cryptocurrencies. For merchants, it is a low-cost way to provide a wide range of borderless services. For users, it is an easy-to-use payment solution much more convenient than most other payment methods. MixPay aims to provide a flexible Web3 payment gateway with a flexible API. What MixPay is capable of is limited only by the creativity of its developers.

MSB, short for Money Services Business, is under the management of FinCEN (The U.S. Financial Crimes Enforcement Bureau) and belongs to the registration and licensing system. Achieving an MSB license signals MixPay's determination to accelerate its expansion into the global compliance market.

As more exchanges are licensed, the buying and selling of digital currencies will become legal and regulated. It can be predicted that more countries will follow this trend, making trade and investment truly borderless and inherent, making finance more manageable and convenient.

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