Big News: Parallax Levels Up as a Registered MSB with FinCEN!

Written by
Nate Punzalan
Published on
March 14, 2024
Big News: Parallax Levels Up as a Registered MSB with FinCEN!

Hey everyone, we've got some exciting news to share.

Parallax has taken a significant leap forward—we're now officially a registered Money Services Business (MSB) with FinCEN!

You might be wondering, why now? Until recently, we were collaborating with different partners who were already regulated, ensuring that our operations were compliant and up to standard. But we thought it's about time we bring more of that compliance in-house.

Here's the scoop on how our new status as an MSB benefits you:

  1. Enhanced Security: We aim to bring peace of mind, knowing that everything is under strict watch.
  2. Rock-Solid Compliance: Just like a fortress gets stronger with every reinforced wall, our internal compliance systems have been fortified—and each member of our staff has gone through thorough compliance training.
  3. Bolstered Trust: With these powers combined, trust naturally follows. We hope that it's like knowing your parachute is packed by a pro—you're in safe hands.

Being an MSB isn't just a title—it's a responsibility. We're talking about a commitment to maintain the highest standards for your security and compliance, all to make sure your experience with Parallax is smooth and secure.

So, what does this mean for your day-to-day with us?

We want to keep it simple: this step is all about giving you a platform that you can rely on without a second thought—a place where your transactions are swift, your data is safe, and the trust is mutual.

As always, we're here to chat if you've got any questions or just want to say hi (we don't bite—promise!).

Here's to a new chapter with you at the center of it all!

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