Canada · Money service business
Nium Canada Corporation
Trading asNIUM
Nium Canada Corporation is a British Columbia company with its registered address in Vancouver. It provides international money transfers under the Instarem brand. The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) registers it as a money services business (M15669293). Nium states that the firm is also registered with the Bank of Canada as a payment service provider. It is a subsidiary of Nium Pte. Ltd. of Singapore and was named Instarem Canada Corporation until February 2020.
Licences and registrations
Held by Nium Canada Corporation (LEI 254900G5VDERDTFMS463). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| Money Services Business RegistryFINTRAC | MSBMoney Transmitter / Remittance | M15669293 | Canada | Active | 2015-08-11 | Renews 2026-11-26 |
|
Search the register ↗ |
Trading names on the register: NIUM (FINTRAC-MSB)
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
Swift network
Swift’s ISO 9362 BIC directory
Holds no BIC in Swift’s directory.
Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Group subsidiary
NIUM PTE. LTD.
Firm type
Money remittance
Trades as Instarem
- Standing
- The firm changed its name from Instarem Canada Corporation to Nium Canada Corporation with effect from 10 February 2020, according to its LEI record.
- Ownership
- Nium Pte. Ltd. of Singapore is the firm's direct and ultimate parent, according to the firm's LEI record.
- Direct parent
- NIUM PTE. LTD., Singapore
- Head office
- 168 Robinson Road, #18-03/04 Capital Tower, 068912 Singapore, Singapore (registered office: 422 Richards St, Suite 170, Vancouver, British Columbia V6B 2Z4, Canada)
- Company register
- BC Registry BC1041324
- Incorporated
- 30 Jun 2015
- Founders
- Prajit Nanu · Michael Bermingham
- Former name
- Instarem Canada Corporation
Online
- Websites & references
- instarem.com ↗
nium.com ↗ Nium group website, which publishes the firm's regulatory status
Wikipedia ↗ group article - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗
- Apps
- App Store ↗ · Google Play ↗
Sources · 11 pages consulted
- instarem.com/terms-policies/terms-conditions-canada/
- instarem.com/en-ca/
- instarem.com/licenses/
- instarem.com
- nium.com/licenses
- nium.com/about-us
- lei.bloomberg.com/leis/view/254900G5VDERDTFMS463
- bankofcanada.ca/core-functions/retail-payments-supervision/psp-registry/
- nium.com/newsroom/new-c-suite-hires-lead-next-era-of-global-payments-infrastructure
- nium.com/newsroom/nium-raises-us50-million-in-series-e-round-to-expand-real-time-payments-global-i
- mm.nh.gov/files/uploads/doj/remote-docs/nium-20251211.pdf
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
FINTRAC registers the firm as a money services business for money remittance, which is an AML registration rather than a licence. Nium states that the firm is also registered with the Bank of Canada as a payment service provider.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) Canada | Money Services Business registration (money remittance) | M15669293 | In its own name | Active | instarem.com ↗ |
| Bank of Canada Canada | Payment service provider registration (Retail Payment Activities Act) | — | In its own name | Active | nium.com ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Not disclosedThe firm's Canadian terms and conditions do not say how customer funds are safeguarded.
- Payment schemes and card networks
- Automated Clearing Settlement System (ACSS) Access not stated instarem.com ↗
Swift Access not stated instarem.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
According to its Canadian terms, it sends CAD or USD from Canada to recipients' bank accounts abroad, funded by bank debit or bank transfer. Its website lists more than 60 destination countries.
The firm serves customers resident in Canada. Customers of the Instarem brand in other countries are served by other Nium group entities.
- Sells to
- Consumers · Small businesses
- Serves customers in
- Canada
- Latest funding round
- Series E · USD 50m Jun 2024
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Prajit Nanu Founder and CEO (Nium group)
- Chief financial officer
- Andre Mancl Chief Financial Officer (Nium group)
- Compliance / MLRO
- Amaresh Mohan Chief Risk and Compliance Officer (Nium group)
Recent events 1 enforcement or investigation item
Researched 29 Sep 2026 · Sources
-
Leadership
The Nium group appointed Amaresh Mohan as Chief Risk and Compliance Officer, Sekhar Cidambi as Chief Technology Officer and Danielle Gotkis as Chief Marketing Officer.
nium.com ↗ -
Security incident
Nium, Inc., a US affiliate, told New Hampshire's attorney general that an unauthorised party had accessed a file system containing customers' personal information.
mm.nh.gov ↗ -
Funding
The parent group Nium raised USD 50 million in a Series E round led by a sovereign wealth fund in Southeast Asia.
nium.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
- Licence no. · FINTRAC-MSB
- M15669293
- BIC
- Holds no BIC in Swift’s directory
- How the LEI was matched
- Matched by Elucidate to GLEIF on name, country and address
- Elucidate firm ID
- 7362f5c44026
Profile
- Type
- Money service businessRemittance, currency exchange, cheque cashing and money orders. Usually registered with an anti-money-laundering supervisor rather than licensed prudentially. Taken from the licences on the tracked registers.
- Regulation
- AML registration onlyRegistered with an anti-money-laundering supervisor (FinCEN, FINTRAC, HMRC, AUSTRAC, Hong Kong Customs…) without a prudential licence.
- Main licence class
- Money Transmitter / Remittance
- Activities
- Money remittance
- Licensed in
- Canada · North America
- First registered
- 2015-08-11
- Website
- www.instarem.com ↗
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
- Direct parent
- Nium Pte. Ltd. · Singapore2549001M1QCD7NV2FL63 ↗
The Nium Pte. Ltd. group has 6 institutions in the directory, in 6 countries: 2 hold a BIC and 4 do not.
Including Nium Europe B.V., Nium Fintech Limited, Nium Limited, Nium Pte. Ltd., Nium Pty Limited.
See the Nium Pte. Ltd. group →Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control.
Addresses
- Address on the register
- 422 RICHARDS ST. #170, VANCOUVER, V6B2Z4
- Country
- Canada
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.
- Identified by
- Name and postal address, with its LEI
- Postal address
- Hybrid: town, postcode and country in their own elements, the rest in one address line
<FinInstnId>
<LEI>254900G5VDERDTFMS463</LEI>
<Nm>NIUM CANADA CORPORATION</Nm>
<PstlAdr>
<PstCd>V6B2Z4</PstCd>
<TwnNm>VANCOUVER</TwnNm>
<Ctry>CA</Ctry>
<AdrLine>422 RICHARDS ST. #170</AdrLine>
</PstlAdr>
</FinInstnId>CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.
The values are as published by the register. Check them against your own records before use.
Sources & method
Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.
An institution missing from these registers is not necessarily unregulated.
Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Register for this page
- Money Services Business Registry—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) · source ↗ as at 25 September 2026
- Ownership and group—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI.
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
Assess the financial crime risk behind a licence
A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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