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Atlantic Money Gains Regulatory Nod for North America and Australia Expansion

In a significant move for the fintech industry, Atlantic Money, a UK-based startup, has received regulatory approval to extend its money transfer services to North America and Australia. This expansion signifies a major milestone for the company and the broader fintech landscape, offering more competitive options for consumers and businesses in these regions.

Atlantic Money: Bridging Financial Borders

  • Background: Founded in London, Atlantic Money has carved a niche for itself by offering fixed-fee money transfer services. Since its inception, the company has rapidly grown to serve a diverse customer base across multiple countries.
  • The Expansion: With the green light from regulatory bodies in the US, Canada, and Australia, Atlantic Money is set to broaden its horizons. The company aims to cater to both individual and business needs, providing a cost-effective alternative for cross-border transactions.

Regulatory Milestones

  • In the US: Atlantic Money has secured a partnership with a federally regulated US bank, marking its entry into the American market as a federal money services business, under the oversight of the Financial Crimes Enforcement Network (FinCEN).
  • In Canada: The company has been licensed as a foreign money services business by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), enabling operations in the Canadian market.
  • In Australia: It has obtained a license as an independent remittance dealer with the Australian Transaction Reports and Analysis Centre (AUSTRAC), paving the way for its services down under.
Atlantic Money expansion to US and Australia

Service Offerings and Competitive Edge

  • Fixed-Fee Structure: Atlantic Money’s model of charging a flat fixed fee of $3.79 for transactions up to $1 million stands out in the crowded money transfer market. This approach provides transparency and savings, especially for larger transfers.
  • Customer Reach: Having already established a presence in the UK and Europe, the company boasts a strong customer base across 32 countries, serving over 10,000 customers.
  • Investor Confidence: Backed by a robust group of investors, including notable names like Amplo, Ribbit Capital, and Index Ventures, Atlantic Money has successfully raised substantial seed funding to fuel its growth and innovation.
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Looking Forward

  • Operational Readiness: With regulatory approvals in hand, Atlantic Money is now focusing on the logistical and operational aspects of its expansion. The company is committed to rolling out its services efficiently, although specific launch dates are yet to be announced.
  • Future Prospects: This expansion is expected to significantly impact the global remittance market, offering a viable alternative to traditional and established players. Atlantic Money’s approach aligns with the growing demand for affordable, transparent, and user-friendly financial services.


Atlantic Money’s regulatory approval for expansion into North America and Australia is a testament to the fintech’s innovation, resilience, and commitment to redefining money transfer services. As the company prepares to enter these new markets, its customer-centric approach and competitive pricing model are poised to disrupt the traditional remittance industry.

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