Doo Payment Successfully Obtained MSB License From The United States Financial Crimes Enforcement Network (US FinCEN)

Doo Group’s subsidiary, Doo Payment and Exchange US Inc., has successfully obtained the MSB license (Registration Number: 31000255627030) from the United States Financial Crimes Enforcement Network (US FinCEN), to provide global clients more secure and reliable financial services. This not only further enhances the group’s global regulatory landscape, but also consolidates the group’s leading position in the financial field. 

The US MSB License 

The US MSB license is issued by the US FinCEN, where they mainly regulate the companies and businesses that engage in money-related services. Before issuing the license, US FinCEN undergoes a thorough check, requiring the companies to formulate, execute and maintain effective Anti-Money Laundering (AML) measures. Aside from that, US FinCEN also conducts regular compliance reviews after the issuance of the licenses to the companies. 

All the companies that undertake international remittance, international payment and other money-related services must apply for the MSB license in order to operate legally in the US. 

Furthermore, the MSB license is highly recognized globally, hence, the company can engage in related businesses in the global market by obtaining this license. 

The license issuer – US FinCEN, is regulated by the US Department of the Treasury, and they are responsible for collecting and analyzing suspicious financial activities, to crack down on US inbound and outbound money laundering activities, terrorism financing and other financial crimes activities. 

As an international financial services group, Doo Group understands that our core responsibility is to ensure our clients’ assets are well protected and their rights are treated fairly. The US has a comprehensive financial regulatory system, where it protects the investors’ benefits while providing development opportunities to the companies. This provides a strong base for Doo Group to provide quality services to clients and expand our global presence to other regions. 

Professional, Secure, And Reliable Services 

Doo Payment and Exchange US Inc. has successfully obtained the US MSB license after thorough checks from the US FinCEN, proving the effectiveness of our anti-money laundering measures and compliance operations. 

Under strict supervision by the regulatory body, we will provide global clients with broader payment exchange services and ensure the safety of their assets. 

Doo Payment and Exchange US Inc. has been authorized to act as service providers, as mentioned below: 

(a) Dealer in foreign exchange who provides currency exchange services.  

(b) Money transmitter that provides money transmission services and engaged in the transfer of funds. 

Connecting The World with Payment Exchange 

The digital payment exchange method reduces the threshold of financial transactions, providing more convenience to financial activities in this new era where technology constantly evolves. 

Therefore, payment exchange – as one of Doo Group’s main business lines – has developed synergistically with the brokerage, wealth management, FinTech, financial education, and Health Care business lines, to provide investors with comprehensive financial services and innovative solutions, giving them a convenient financial service experience. 

With the obtainment of this license, Doo Group’s payment exchange sub-brand, Doo Payment, has attained an important base to develop the payment exchange business in the US and the global market.  

In the future, we will continue to build a more flexible and convenient international payment and exchange ecosystem, so that our clients can focus on their trading and business development and achieve a smart global fund flow. 

Doo Group’s comprehensive financial ecosystem will be able to fully support your financial life. Let us forge a brighter future together! 

About Doo Group        

Doo Group, established in 2014 and headquartered in Singapore, is an international financial services group with FinTech as its core. Operating through six major business lines, including Brokerage, Wealth Management, Payment Exchange, FinTech, Financial Education, and Health Care, Doo Group continually strengthens our financial ecosystem. We are dedicated to providing comprehensive financial services and innovative solutions to clients worldwide. Together, we embark on a journey to Explore α Better Future. 

Currently, the entities within Doo Group, according to their location and products, are regulated by many of the top global financial regulators, including, but not limited to the United States Securities and Exchange Commission (US SEC) and the Financial Industry Regulatory Authority (US FINRA), the United States Financial Crimes Enforcement Network (US FinCEN), the United Kingdom Financial Conduct Authority (UK FCA), the Australian Securities & Investments Commission (ASIC), the Australian Transaction Reports and Analysis Centre (AUSTRAC), the Hong Kong Securities and Futures Commission (HK SFC), the Hong Kong Insurance Authority (HK Insurance Broker), the Hong Kong Companies Registry (HK Trust Company), the Hong Kong Customs and Excise Department (HK Money Service Operator), the Hong Kong Estate Agents Authority (HK EAA), the Dubai Real Estate Regulatory Agency (AE RERA), the Seychelles Financial Services Authority (SC FSA), the Malaysia Labuan Financial Services Authority (MY Labuan FSA), Mauritius Financial Services Commission (MU FSC), and the Vanuatu Financial Services Commission (VU FSC). Doo Group has entities operating in various global locations, including Dallas, London, Sydney, Singapore, Hong Kong, Dubai, Kuala Lumpur as well as other regions. 

For enquiries and further information, please contact us: 

Official Website: doo.com 

Hong Kong: + 852 2632 9557 

Singapore: +65 6011 1736 

Email: [email protected] 

Forward-looking Statement   

“Forward-looking” Statements
This article contains “forward-looking statements” and may be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “hope”, “intend”, “may”, “might”, “plan”, “potential”, “predict”, “should”, or “will”, or other variations thereon or comparable terminology. However, the absence of such terminology does not mean that a statement is not forward-looking. In particular, statements about the expectations, beliefs, plans, objectives, assumptions, future events, or future performance of Doo Group will be generally assumed as forward-looking statements. 

Doo Group has provided these forward-looking statements based on all current information available to Doo Group and Doo Group’s current expectations, assumptions, estimates, and projections. While Doo Group believes these expectations, assumptions, estimations, and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond Doo Group’s control. Such risks and uncertainties may cause results, performance, or achievements materially different from those expressed or implied by the forward-looking statements. 

Doo Group does not provide any representation or warranty on the reliability, accuracy, or completeness of such statements. Doo Group is not obliged to provide or release any updates or revisions to any forward-looking statements. 

Risk Disclosure   

This article is for information purposes only and should not be construed as investment advice. Doo Group does not make any representations or warranties regarding the accuracy or completeness of the information provided. 

Please make sure you read and fully understand the risks of the products or services described in this article before engaging any transaction with us. You should seek independent professional advice if you do not understand the risks disclosed herein. 

Disclaimer   

This information is addressed to the general public for informational purposes only and should not be taken as investment or professional advice, recommendation, offer, or solicitation to buy or sell any products mentioned here. The information displayed here has been prepared without any reference or consideration to any particular recipient’s investment objectives or financial situation. Any references to the past performance of a product shall not be taken as a reliable indicator of its future results. Doo Group makes no representations or warranties regarding the information displayed here and shall not be liable for any direct or indirect loss or damages incurred by the reader as a result of using the information provided.