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SolucionX Pty Ltd has successfully obtained an independent remittance license (license number: IND100869594-001) issued by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This demonstrates the Group’s outstanding capabilities in financial compliance and risk management and lays a solid foundation for further development of global business.
Accredited by Australia’s top regulatory bodies
The Australian Transaction Reports and Analysis Centre (AUSTRAC) was established in 1989. It is Australia’s specialized agency responsible for anti-money laundering work. It assumes the dual responsibilities of a financial intelligence agency and an anti-money laundering and anti-terrorist financing regulator. AUSTRAC has strict regulatory standards and efficient enforcement, so its license has high gold content and recognition worldwide.
The AUSTRAC independent remittance license is an important qualification for financial institutions to provide cross-border payment, remittance and other financial services in Australia. With its outstanding performance in capital strength, business model, and compliance capabilities, SolucionX has successfully obtained such a license. This is undoubtedly a high recognition of our strength and reputation, and can effectively enhance our customers’ trust and confidence in us.
SolucionX Ltd has successfully obtained the Hong Kong Money Service Operator License (License No.: 26-01-03318), issued by the Hong Kong Customs and Excise Department. The MSO (Money Service Operator) License is a statutory compliance license required for entities conducting money exchange and remittance services in Hong Kong.
“Operator” refers to an individual or (corporate) institution that operates currency exchange services or remittance services in Hong Kong. This license and its legislation give regulators appropriate regulatory and law enforcement powers and formulate relevant penalty regulations as an improvement and strengthening of the anti-money laundering system applicable to financial institutions to align with international unified standards, which plays a vital role in consolidating Hong Kong’s status as an international financial center.
The successful acquisition of the Hong Kong MSO License demonstrates the Company’s strong compliance and risk management capabilities. It authorizes SolucionX Ltd to lawfully conduct money exchange and remittance services in Hong Kong, supports the expansion of its cross-border business, and enhances customer confidence in the Company.