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Awaiting price reaction for this filing.
String Metaverse Limited (BSE: META) has received a Fintech License (MSB registration No: C100000472, Licence No: 1503140) from FINTRAC Canada, headquartered in Vancouver. Its Canadian entity will rebrand to STRING PAY X LTD within the next 60 days. The license enables the company to launch Web3-enabled digital banking services, including virtual debit cards, cross-border wire transfers, full-suite payment solutions, virtual corporate accounts, and crypto-to-fiat on-ramp/off-ramp capabilities. The company plans to issue Virtual Visa and Mastercard Debit Cards integrated with Apple Pay and Google Pay, accessible at over 170 million merchants globally. With an existing user base of 4 million gamers projected to grow to 10 million, the company aims to merge crypto, gaming, and global payments under one platform.
This is a significant business expansion into regulated fintech and digital payments, which could open new revenue streams and strengthen the company's positioning in the Web3 and digital banking space. Positive for long-term growth, though execution and regulatory adoption risks remain. The stock may see short-term positive sentiment.