MSB — Money Services Business

Money Services Business — a category of non-bank financial service provider regulated by the Financial Crimes Enforcement Network (FinCEN) under the Bank Secrecy Act.

What paype is

paype.cc operates as a FinCEN agent of two principal MSBs — CCA.SH (crypto) and popaye.app (fiat) — under 31 CFR §1022.380. MSBs include money transmitters, currency exchangers, and check cashers. paype is a money transmitter — it moves funds between parties.

What paype is not

Not a bank. paype does not take deposits, does not hold a bank charter, and is not supervised by the OCC, FDIC, or Federal Reserve. Your paype balance is not a bank deposit.

What this means for you

• No FDIC insurance — your paype balance is not insured by any government deposit protection scheme
• Segregated accounts — your funds are held separately from paype’s operating funds, but without the federal backstop a bank deposit carries
• Lower friction — MSBs can open accounts globally, move faster, and charge less than banks
• Full compliance — FinCEN registration, AML program, OFAC screening, and SAR filing are all required and maintained

The trade-off is speed and access versus the insurance floor that banks provide. Read the full picture in the Sailor Beware disclosure.