Basal Pay
Last Update: 19.01.2026
Client: Basal Pay
Partnership Duration: 2024 – Present
Services Provided: Global licensing strategy, Canada MSB company setup, compliance documentation, AML/KYC frameworks, HR & governance support, quarterly AML reporting, El Salvador DASP incorporation & licensing, and ongoing regulatory maintenance.
Overview
Basal Pay is a crypto and payment solutions provider offering advanced digital asset infrastructure, global transaction processing, and multi-currency payment tools.
Originally focused on the Asian market, Basal Pay aimed to transition from a regional operator into a fully compliant, globally licensed financial ecosystem.
In November 2024, the company approached our team seeking guidance on international expansion and access to new regulated markets.
Following an in-depth review of their business model, we prepared a Global Licensing Overview, outlining the most suitable jurisdictions for their operations and long-term product plans. Canada became the first step, with El Salvador identified as the strategic jurisdiction for broader digital asset services under a DASP license.
Today, Basal Pay is successfully operating in Canada and is in the final stage of securing its El Salvador DASP license, unlocking new product verticals and global reach.
Our Contribution Across Jurisdictions
Global Licensing
Strategic Market Entry Planning
Before launching any regulatory processes, we conducted:
Scope of Work
- A full business model analysis;
- Assessment of applicable regulatory frameworks worldwide;
- Identification of the most strategic jurisdictions for product expansion;
- Matching product roadmap with licensing opportunities.
Final recommendation roadmap: Canada → Poland → El Salvador. This stage laid the foundation for Basal Pay’s international expansion.
Canada
Full Turnkey MSB Formation & Licensing
Canada became Basal Pay’s first global market due to strong regulatory stability and straightforward access for payment and crypto-related services.
Scope of Work
Corporate Setup
- Full turnkey company formation;
- Company name registration;
- Preparation of complete corporate documentation.
Compliance & Licensing
- Drafting a fully customized AML/KYC Policy for the Canadian market;
- Registration of activities with FINTRAC;
- End-to-end MSB licensing support.
HR & Governance
- HR search and appointment of a Chief Compliance Officer (CCO);
- Drafting of employment agreements;
- Initial compliance training for management and CCO.
Ongoing Regulatory Maintenance
- Communication management with FINTRAC;
- Review of organizational structure;
- Preparation and submission of all renewal documentation;
- Annual MSB registration renewal;
- Continuous advisory on AML/CTF obligations.
Basal Pay is now a fully registered and compliant Money Services Business in Canada.
Poland
Quarterly AML Reporting Support
As Basal Pay expanded its operational footprint, we began supporting the company with:
- Quarterly AML/CTF reporting in Poland;
- Ongoing advisory regarding Polish regulatory requirements;
- Ensuring consistency between Canadian, Salvadoran, and EU compliance standards.
El Salvador
DASP Incorporation & Licensing (Ongoing)
To expand service offerings in line with Basal Pay’s product roadmap, El Salvador was selected due to its broad regulatory scope for digital asset services. We are now in the final stage of communication with the regulator.
Corporate Setup
- Incorporation of the local Salvadoran entity;
- Assistance with share capital contribution;
- Full corporate documentation package.
Licensing & Compliance
- Registration for DASP and BTC licenses with the NCDA;
- AML registration with the Financial Investigation Unit;
- Preparation of a complete suite of compliance documents:
- Enterprise-Wide Risk Assessment;
- Business Continuity Policy;
- Information Security Policy;
- Winding Down Policy;
- Compliance Management Policy;
- Risk Management Policy;
- Safeguarding of Assets;
- Code of Ethics;
- AML/KYC/CTF Rules.
Banking Support
- Corporate account opening with a local Salvadoran bank;
- Corporate account opening with a European EMI (segregated B2B/B2C, multicurrency).
HR & Governance
- Identification and appointment of two local compliance officers;
- Acting as the client’s local legal representative;
- Appointment of fiscal auditor and external auditors.
Ongoing Maintenance & Regulatory Support
Basal Pay’s transition from an Asia-focused company to a global operator required:
- Market diversification;
- Regulatory scalability;
- Ability to launch new payment and digital asset products;
- Access to banking and stable compliance frameworks.
Our step-by-step expansion strategy (Canada → Poland → El Salvador) ensured controlled, compliant, and product-driven growth.
Results
Through dedicated multi-jurisdictional support, Basal Pay has achieved:
Successful MSB registration in Canada.
Structured and compliant entry into a new international market.
Full HR, AML, and governance infrastructure in Canada.
Quarterly AML reporting support in Poland.
Final-stage approval for DASP licensing in El Salvador.
Comprehensive compliance and policy frameworks across jurisdictions.
Ability to launch new and more advanced digital asset products.
A scalable, global-ready regulatory structure supporting future expansion.
Our cooperation with Basal Pay continues as they establish their presence in new markets and prepare for broader international licensing.