US Issues Klasha Money Services Business Licence

By Adedapo Adesanya

Klasha, a leading global cross-border payments company, has been granted a Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) to operate in the world’s largest economy, the United States.

This license authorizes Klasha to operate as a currency exchange and money transmitter in the US.

With this MSB license, Klasha can now offer its innovative cross-border payment solutions and financial services to businesses in the United States that want to send and accept cross-border payments from Africa and carry out foreign exchange services and international money transfers with ease and security.

“We are thrilled to have obtained the MSB license from FinCen as it grants us access to additional international markets, allowing businesses in the United States to utilize our cross-border payment solutions,” said Ms Jess Anuna, CEO of Klasha.

“This milestone represents a significant step in our mission to streamless cross-border payments and remittances between Africa and the rest of the world,’’ she added.

In June, the company was granted a Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) which allowed it to operate as a money services business in Canada.

The MSB license granted to Klasha in both North American countries is an essential milestone for the company’s H2 2023 growth strategy.

Klasha will now be able to provide financial services to businesses that want to accept payments from or send payments into Africa in addition to foreign exchange transactions and payment processing.

Founded in 2021, Klasha is licensed to provide cross-border payment services in six African countries, Canada, the UK, and now the US. Klasha has been at the forefront of delivering cross-border payment solutions in Africa and offers global businesses that want to scale into Africa a suite of seamless cross-border payment solutions to do so.