CashXChain Inc. is now a registered Money Services Business and U.S. financial institution
CashXChain Inc. is registered with FinCEN as a Money Services Business and is a financial institution under the U.S. Bank Secrecy Act. Here's what that means for you.
By CashXChain
CashXChain Inc., our U.S. company and a Delaware corporation, is now registered with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, as a Money Services Business (MSB) and money transmitter under MSB Registration Number 31000341178304. For purposes of the U.S. Bank Secrecy Act, CashXChain Inc. is a financial institution.
What is an MSB?
FinCEN is part of the U.S. Department of the Treasury and fights money laundering and financial crime. Companies that transfer money for others in the U.S. must register with FinCEN as a Money Services Business. Under the Bank Secrecy Act, every MSB is a financial institution and is regulated as one.
What this means in practice
As a registered MSB, CashXChain Inc. is required to:
- run an anti-money laundering (AML) program
- verify the identity of its customers
- keep records of transactions
- report suspicious activity and certain transactions to U.S. authorities
What it means for customers
You get one more layer of trust and security when you move money with CashXChain. Regulated payment services on our platform continue to be provided by our licensed partners. Our U.S. registration strengthens the compliance behind every transaction.
What registration is, and what it isn't
Registration with FinCEN is a federal requirement. It is not a license, and it is not an endorsement by FinCEN or any government agency.
Verify it yourself
Anyone can look up our registration on FinCEN's public MSB Registrant Search.
Legal name: CashXChain Inc. · Registration No. 31000341178304
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Legal information
CashXChain Inc. is a Delaware corporation and a financial institution for purposes of the U.S. Bank Secrecy Act, registered with the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, as a Money Services Business (MSB) and money transmitter under FinCEN MSB Registration Number 31000341178304. CashXChain Inc. is publicly listed in FinCEN’s MSB Registrant Search.
CashXChain Inc. is located at 48 Wall Street, Suite 1100, PMB 1024, New York, NY 10005, United States of America.
CashXChain Inc. does not currently provide money transmission services, holds no U.S. state money transmitter licences, and has no customer relationship with users of the CashXChain platform.
Registration is not a license and not an endorsement by FinCEN or any government agency.