Transak expands U.S. reach with new state money-transmitter licenses

Transak, a global provider of payments infrastructure for stablecoins and crypto, has secured six new U.S. Money Transmitter Licenses (MTLs). The company’s total is now up to eleven states after the latest approvals in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania.

Transak’s current roster of states where it is licensed to operate within the United States now includes Alabama, Arkansas, Delaware, Illinois, Iowa, Kansas, Missouri, Michigan, South Carolina, Vermont, and Pennsylvania, making it one of the most widely regulated and compliant operators in the U.S. stablecoin market.

Transak is building regulated rails for stablecoin payments

The state licenses allow Transak to operate directly within their jurisdiction, enabling the company to handle fiat-to-crypto transactions without intermediaries. 

This direct model, the company said, improves transaction success rates and reduces costs, while giving its 450-plus integrated partners a more seamless experience when onboarding users or facilitating stablecoin transfers.

Transak’s expansion comes as market structure regulations continue to stall in the U.S. Pending resolution, the U.S. remains one of the most complex regulatory environments for digital asset services.

Unlike in most countries or jurisdictions, such as the European Union, where regulations like the Markets in Crypto-Assets Regulation (MiCA) framework allow a license to be applied across the member states, companies dealing in money transmission or virtual assets in the U.S. must apply for individual state licenses, each with distinct compliance and capital requirements. 

The new licenses, Transak said, are central to its mission of supporting regulated stablecoin and crypto payments across more of the U.S. They also enable the company to assist businesses seeking compliant on- and off-ramp infrastructure and to facilitate lawful transitions between fiat and digital assets for U.S. users.

Earlier this year, it became the first on-ramp provider to enable wire transfers for direct U.S. dollar deposits into crypto purchases and announced plans to roll out Automated Clearing House (ACH) payments to make bank transfers faster and more accessible for American users. 

It has also partnered with MetaMask to power native white-label stablecoin deposits. allowing regulated one-to-one movement between bank accounts and digital wallets, and expanded support for several stablecoins, including USDC, RLUSD, and USDG.

The race to take stablecoin access nationwide 

Industry observers say Transak’s steady acquisition of licenses places it among a small group of crypto and stablecoin infrastructure firms building a compliant presence in the U.S. market. 

In October, Transak announced a partnership with Cross River Bank. The partnership adds banking-grade oversight to Transak’s payment rails and enables faster and compliant fiat-to-crypto transactions for consumers and businesses for customers of both parties.

The company has made other MTL applications that are under review and plans to expand its presence to other states soon, as nationwide access would enable it to offer consistent stablecoin payment flows in all 50 states, a goal the company says is critical to making digital value transfers “as simple as sending an email.”

“Every new license we secure brings us closer to a future where users can move between fiat and digital assets seamlessly and lawfully,” said Bryan Keane, Transak’s Compliance Officer for the Americas. “Our new licenses are a testament to our team’s relentless focus on compliance, operational excellence, and building trust with regulators worldwide.”

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