MSB
The licensed money services business in the US. It onboards senders, collects the funds, requests quotes and creates withdrawals. The FX contract is in the MSB’s name, arranged by LB Pay.
Sender
The MSB’s customer who starts and pays for the remittance. An individual (18 or older) or a business. Has a compliance level that defines whether and how much they can send.
Beneficiary
The person or company in Brazil who receives the BRL. Has one or more payment instructions (Pix keys). The same beneficiary can receive from different senders.
LB Pay
Prices the remittance, contracts FX on behalf of the MSB, provides funding, sends the Pix, keeps the ledger, reconciles and manages settlement.