VirtualPay offers innovative on-ramp and off-ramp solutions that allow your business to accept crypto payments effortlessly and in full compliance with regulations.  Your business won’t need to handle or store crypto assets directly.  We provide a comprehensive range of services that seamlessly integrate crypto payment options into your existing systems.

At VirtualPay, we only partner with trusted money services businesses and licensed money transmitters, fully compliant in most global jurisdictions.  As a technology platform, we connect users with licensed money transmitters, liquidity providers, and aggregators, ensuring seamless and lawful transactions.  Furthermore, we never take custody of client funds or cryptocurrency assets, allowing us to deliver a secure, reliable service for all crypto and financial transactions.
While clients may not always be notified of which VirtualPay partner facilitates their transaction, we are happy to provide the relevant partner’s contact information upon written request.

Crypto On-Ramps refer to the process of converting fiat money into crypto assets.  They enable users to enter the cryptocurrency space through various pathways, including cryptocurrency exchanges, peer-to-peer platforms, online payment gateways, and platforms that specialize in on-ramp services that are licensed as a MSB (Money Service Business).  These platforms typically offer multiple payment methods, such as bank transfers, credit/debit cards, and other online payment services, making it easier for users to purchase digital assets.
Crypto Off-Ramps enable users to sell their crypto assets and convert them back into fiat currencies or other tangible assets.  These platforms act as exit points from the cryptocurrency ecosystem, allowing users to cash out their investments, make purchases in the real world, or convert their crypto holdings into traditional financial instruments.  Off-ramps come in various forms, including cryptocurrency exchanges, peer-to-peer platforms, and licensed platforms that offer users the flexibility to withdraw their funds in their preferred fiat currency.   It is critically important to off-ramp via a regulated entity that is licensed as legal money transmitter in the respective jurisdiction.

VirtualPay is purpose-built to manage high-volume on/off-ramp crypto transactions.  We partner exclusively with licensed money transmitters across multiple jurisdictions to ensure compliance and security for institutional transactions.  Unlike centralized crypto exchanges that offer OTC services to drive trading activity, VirtualPay focuses solely on facilitating efficient value transfers.  This approach optimizes our services for large-scale transactions, benefiting both institutions and individuals.

The tax implications of crypto and fiat transactions can vary significantly depending on your individual circumstances.  Factors such as your citizenship, place of residence, whether you’re an individual or a business, and the purpose of your transactions can all affect how these activities are taxed.  It’s essential to understand the specific rules that apply to your situation to ensure compliance with your tax obligations.
We recognize that navigating the tax implications of cryptocurrency can be complex.  While we are not tax professionals and cannot provide specific tax advice, we have partnered with tax experts who specialize in crypto asset taxation.  If you have questions or need assistance with your crypto-related tax obligations, we are happy to connect you with a tax expert.

Yes, we are audited by OtterSec and PCI-DSS compliant.  We volunteer for MSB/VASP requirements, and employ a robust KYC/AML program. We are in the process of receiving our SOC2 and ISO/IEC 27001 certifications.

Yes. You can continue using your current payment provider, such as Stripe, while leveraging VirtualPay to add support for alternative payments and back-office automation through our API/SDK. We work with various payment providers and can create a custom checkout experience (UI/UX) tailored to your preferences.

VirtualPay only collects very limited information on transactions, including name, transaction amount and type of bank account linked to the transaction.  This information is collected and used for the purposes of providing VirtualPay’s services and for customer convenience.

No, VirtualPay does not directly conduct KYC procedures.  Instead, our trust compliance partner SumSub completes KYC procedures for VirtualPay’s partner organizations on any client that engages in a transaction.

Money laundering is the attempt to conceal or disguise the nature, location, source, ownership or control of illegally obtained money.  Essentially, it is the process whereby “dirty” money produced through criminal activity such as drug trafficking and smuggling is transformed into “clean’ money”, the criminal origin of which is difficult to trace.
AML laws impose obligations on organizations that play a role in the movement of money from one place to another.  Within Canada, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its regulations (the PCMLTF Act) and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) guidelines establish which organizations are conducting activities subject to AML obligations, and what those obligations are.

VirtualPay operates as a technology platform that connects businesses with service providers for the purpose of exchanging fiat and crypto currencies. VirtualPay does not take custody of funds or digital assets, nor does it assist in the transmission of any funds or digital assets. VirtualPay does not consider itself as a Money Service Business or similar entity, on the basis that VirtualPay: (i) collects very limited information on transactions, including name, transaction amount and type of bank account linked to the transaction, (ii) does not provide or pass on transaction instructions from one party to another, (iii) does not act as an intermediary or agent for either party in a transaction, and (iv) maintains contractual terms with partner organizations obligating partners to comply with all AML requirements as regulated entities.