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|---|---|
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Category: CRYPTO NEWS
The post Transak Scores Money Transmitter Licenses in Illinois, Missouri appeared on BitcoinEthereumNews.com. Transak, a flagship Web3 payments infrastructure provider, has secured Money Transmitter Licenses (MTLs) in Illinois and Missouri, further strengthening its regulatory footprint in the United States. Following FinCEN’s MSB registration and ISO/IEC 27001 certification, this makes Transak a trendsetter in regulatory compliance. Transak becomes licensed money transmitter in Illinois and Missouri Transak, one of the most popular Web3 payments processors, shares the details of its recent license proceedings. Starting in February 2025, Transak is operates under Money Transmitter Licenses (MTLs) in the states of Illinois and Missouri. We built Transak to make it super easy for anyone to add crypto payments to their app 🔂 Plug it in, track it, grow it—easy as that 💙 — Transak (@Transak) February 16, 2025 Two newly acquired licenses enable Transak to directly facilitate cryptocurrency transactions for residents and businesses in both states, expanding the accessibility and scope of its services. These new licenses empower Transak USA to operate independently in these states, directly facilitating cryptocurrency transactions for residents and businesses, expanding the scope of services available in the state. Bryan Keane, Compliance Officer (Americas) at Transak, higlights the importance of the new documents for Transak’s regulatory compliace roadmap: Securing two Money Transmitter Licenses in such a short span is a testament to the team’s commitment to regulatory excellence and user trust. By securing Money Transmitter Licenses across key states like Illinois and Missouri, we are ensuring a trusted and compliant environment for users, businesses, and developers who rely on our payments infrastructure. In the U.S., a Money Transmitter License (MTL) is a critical regulatory requirement for financial and payment companies to operate. It authorizes businesses to engage in money transmission activities, ensuring compliance with financial laws and consumer protection regulations. For Web3 payment providers like Transak, an MTL enables the direct facilitation of…
2025-02-21T03:43:10+00:00