Ghanaian-led fintech firm WeWire has obtained a Payment Service Provider (PSP) licence from the Bank of Canada, enabling it to operate within Canada’s regulated financial system.

The approval, granted under the Retail Payment Activities Act, allows the company to process payments more directly, reducing dependence on intermediaries and improving speed and efficiency in cross-border transactions.

Founded by Ebenezer Ghanney (CEO) and Desmond Nyamador (CTO), WeWire focuses on simplifying international money transfers, particularly for African businesses that often face high costs and delays.

Speaking on the milestone, Mr Ghanney said the licence reflects both the company’s growth and its broader mission to enhance global payment systems, adding that it will help facilitate faster and more seamless transactions across its markets.

The development follows WeWire’s inclusion in the USDT Ecosystem Directory by Tether, further strengthening its presence in the global digital finance space.

The company reports processing over $3 billion in transactions for more than 3,000 businesses across 80 countries, and expects the new licence to deepen financial links between Africa and North America while boosting transparency and security.

The achievement underscores the rising influence of Ghanaian entrepreneurs in fintech and their ability to meet international regulatory standards.