Trying to launch a wallet for stellar for certain tokens but would like to know if anyone had to apply for a Payment Service Provider license to launch it? If not, can you explain how it was dealt with by your government?
Anyone dealt with PSP Licensing for their wallet?
Applying for a PSP license independently of the technology that you are using is quite a complicated task. You have to make sure that you follow all the regulations that are required by the government of the country you are applying to.
I recommend you to refer to the respective Financial Market Authority where you can find all the information in that regard.
For instance in Europe, Switzerland and Liechtenstein have already a very advanced regulatory framework that deals with this kind of financial services.