Elephants Growth Tech Ltd, the company behind the Elephants Inc. digital financial management platform, has registered with Canadian federal regulators as a money services business and a payment service provider. The company is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and with the Bank of Canada as a Payment Service Provider under the Retail Payment Activities Act (RPAA).
The two registrations authorise Elephants Inc. to provide foreign exchange, money transfer, and virtual currency services. They also permit the company to maintain payment accounts, hold funds, and initiate electronic fund transfers on behalf of end users. Under the RPAA, the Bank of Canada requires registered payment service providers to safeguard end-user funds and meet operational risk standards. Funds held on the platform are safeguarded for payment purposes, not insured.
“Our customers move money across borders every day, and they shouldn’t need a different provider for every step. This registration means foreign exchange, transfers, virtual currency, and holding funds all sit with one registered counterparty..” said Howie Zhang, Co-Founder of Elephants Inc.
The registration matters most to a customer base that moves fiat and stablecoins side by side. Small and medium-sized businesses operating across borders increasingly hold balances in both, and the FINTRAC and Bank of Canada registrations give them a single registered counterparty for foreign exchange, transfers, and virtual currency activity rather than separate providers for each. The Elephants Inc. platform supports transfers to more than 100 local currencies through local rails and SWIFT, with same-day settlement on supported corridors, and lets businesses hold USD alongside USDC and USDT in one wallet.
“Customers can hold both fiat and stablecoins, convert between them, and pay suppliers in more than 100 currencies, all operated by a registered money services business,” said Howie Zhang.
“Our FX and transfer fees fell by about 40 percent, supplier payments now clear in minutes, and the team saves more than 10 hours a month on contractor payments,” said Garry Chen, Founder of CGC Ventures.
Elephants Inc. brings business cards, cross-border payments, invoicing, and an AI assistant into one dashboard. The platform offers tiered plans starting at no monthly cost for the Essential tier, with Explorer at $18 per month and Elite at $38 per month. Named customers include MakeBanc, CGC Ventures, Cryptomind, and Chintai.
About Elephants Inc.
Elephants Inc. is a payments platform built to help modern businesses run their money, not just process payments. The company helps customers receive payments, manage spend, issue cards, move money globally, and operate across multiple currencies and stablecoins from one system, with real-time visibility and AI-powered workflows built for how businesses actually operate today. They are building a smarter alternative to the fragmented financial stacks most businesses still rely on.
Media Contact
Company Name: Elephants Inc.
Contact Person: Amber Ongpaibool
Email: Send Email
Country: Thailand
Website: https://elephants.inc/
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Elephants Inc., a Digital Financial Management Platform, Registers as Canadian MSB and Payment Provider
