13 hours ago
- Business
- United News of India
String Metaverse secures Canadian Fintech Licence
Hyderabad, June 16 (UNI) String Metaverse Limited, a next-generation digital finance infrastructure Web3 company, on Monday announced it has officially received its Fintech Licence (MSB registration) from FINTRAC Canada, headquartered in Vancouver.
In alignment with this significant milestone, the Canadian company will undergo a strategic rebranding to String Payx, with the name change to be reflected across all regulatory and operational platforms within the next 60 days, the company said in a release.
This licence marks a pivotal expansion for String Metaverse, empowering it to launch comprehensive Web3-enabled digital banking services, including issuance of Virtual Debit Cards, cross-border wire transfers, full-suite payment solutions for businesses and individuals, virtual corporate accounts and seamless crypto-to-fiat on-ramp and off-ramp capabilities.
String Metaverse is uniquely positioned at the convergence of gaming, digital assets, and fintech.
With an existing user base of 4 million gamers, projected to reach 10 million, the company will leverage this license to issue Virtual Visa and Mastercard Debit Cards, fully integrated with Apple Pay and Google Pay. This enables instant global payments at over 170 million merchants across both physical and digital platforms.
'This licence is a game-changer," said Santosh Althuru, CEO of String Metaverse. 'It enables us to power the next wave of financial services for Web3-native users, seamlessly merging crypto, gaming, and global payments.'
This development is aligned with String's mission to build the public infrastructure layer for open, yield-bearing financial ecosystems on blockchain — where stablecoins, tokenized assets, and real-world payments converge, Santosh added.
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