Compliance

Global Regulatory Licenses

WCT Pay is licensed in the following jurisdictions:

European Union (Lithuania): WCT Pay UAB is registered as a Virtual Asset Service Provider (VASP) with the Financial Crime Investigation Service (FCIS). Authorized to offer crypto exchange, wallet infrastructure, KYC onboarding, and crypto-to-fiat settlement services under AMLD5 and EU Travel Rule regulations.

Canada: We are registered as an MSB by FINTRAC. Permitted to onboard users, conduct fiat-crypto exchange, manage wallet remittance services, and transmit funds internationally.

Australia (Pending): WCT Pay is in the final stages of registration with AUSTRAC as a Digital Currency Exchange (DCE). Once approved, it will support fiat-to-crypto, crypto-to-fiat, and stablecoin transactions with full AML/CTF oversight.

Permitted Activities

Across jurisdictions, WCT Pay and its regulated partners are authorized to:

Onboard individuals and businesses with full KYC/KYB verification

Provide fiat-to-crypto and crypto-to-fiat exchange services

Support stablecoin transfers (USDT, USDC) and wallet top-ups

Enable cross-border remittance and payout via local partners

Maintain non-custodial wallet infrastructure

Conduct AML screening, transaction monitoring, and reporting

Operate under Travel Rule and local compliance obligations

Offer invoicing and API-based B2B crypto settlement

Compliance-Driven System Architecture

WCT Pay operates on a hybrid infrastructure model with strict data and security protocols:

Component

Responsibility

KYC/KYB

Sumsub

ISO 27001, SOC 2 Type II, GDPR-aligned

AML Screening

Merkel Science

FATF-aligned blockchain analytics and risk alerts

Data Hosting

AWS (EU/EEA)

AES-256 encryption, SCCs, multi-region backups

Transaction Layer

WCT Pay

API gateway, internal logging, no PII at API level

Compliance & Risk

WCT Pay

Annual audits, breach response plans, privacy assessments

Additional measures include:

AES-256 encryption at rest and TLS 1.2+ in transit

Role-based access control (RBAC) and multi-factor authentication (MFA)

Real-time monitoring, audit logging, and incident response planning

GDPR, CCPA, and NIST 800-53/171 alignment across all environments

Licensing Model for Cross-Border Transactions

WCT Pay ensures lawful operation by maintaining its regulatory perimeter and using licensed banking and remittance infrastructure:

Crypto exchange and wallet services are performed under WCT Pay’s EU VASP license

Fiat processing is conducted via BCB Group, an FCA-regulated UK institution

Local disbursement is only executed by onshore licensed remittance entities (e.g., in the Philippines)

No e-money issuance, fiat custody, or in-country marketing is conducted by WCT Pay directly in jurisdictions where licensing is not held

This structure ensures compliance with FATF Recommendation 15 and EU financial regulations

Risk & Privacy Management

WCT Pay maintains strong controls over customer risk, financial crime prevention, and data protection:

Continuous transaction monitoring, risk scoring, and alerts

Automated sanctions screening and fraud detection

Strict data minimization and deletion policies

PII protection with GDPR and CCPA-compliant practices

Privacy Impact Assessments (PIAs) and Data Processing Agreements (DPAs) across all vendor relationships

Summary

WCT Pay delivers regulated crypto payment services across the EU, Asia, North America, and the Middle East by:

Registering as a VASP in Lithuania

Partnering with licensed MSBs, EMIs, MPIs, and MSOs worldwide

Complying with Travel Rule, AML/CFT standards, and privacy laws

Avoiding local licensing triggers by maintaining non-custodial, partner-driven payout infrastructure

Every transaction processed by WCT Pay follows strict legal, regulatory, and compliance procedures ensuring global reach without compromising trust.

WCT Pay Contact Details