Transak Secures Money Transmitter License in Delaware, Strengthening Regulatory Footprint Across the U.S.

by

As a seasoned researcher with years of experience in the dynamic world of fintech and blockchain, I must admit that this news from Transak is both exciting and impressive.

Miami, Florida, November 1st, 2024, Chainwire

As a researcher involved with Transak, I’m excited to share that our U.S. division, Transak USA LLC, has just obtained its second Money Transmitter License (MTL). This time, it’s from the esteemed State of Delaware. We secured our initial MT license from the Alabama Securities Commission barely a month ago, and this latest achievement underscores our dedication to regulatory compliance and ambition to expand our footprint within the dynamic U.S. market.

This milestone is integral to Transak’s endeavors aimed at strengthening trust and conforming with U.S. financial rules. Delaware’s MTL serves as an addition to Transak’s existing collection of state licenses, further solidifying the company’s standing as a regulated Money Services Business (MSB) under FinCEN and a reliable global Web3 payment service provider.

In simple terms, residents and businesses in Delaware can enjoy the secure and regulated crypto buying and off-ramping platform provided by Transak. By acquiring the Delaware Money Transmitter License (MTL), Transak guarantees that their services adhere strictly to state-specific regulations, ensuring a reliable service experience similar to what they offer globally.

This recent Multi-State License (ML) acquisition bolsters Transak’s American operations, broadening its network of state licenses. This move positions Transak as a dependable collaborator for Web3 initiatives, digital exchanges, and wallets aiming to boost their influence in the U.S. market. Transak is taking initiative to secure licensure in additional states to align with local regulations and maintain trust among both its partners and users.

As a crypto investor, I firmly believe that the ideal global payment framework isn’t yet fully realized without the necessary licenses in place. The recent license acquisition in Delaware reinforces our unwavering dedication to constructing a trustworthy, secure, and legally compliant ecosystem for Web3 payments infrastructure. This move sets the bar high, offering peace of mind to users and businesses nationwide, enabling them to transact freely and securely with confidence. – Sami Start, CEO of Transak.

With two Multi-Tiered Licenses (MTLs) added to our resources, Transak is strategically set to broaden its regulatory influence in additional U.S. states. This move aligns with our commitment to simplify access to Web3 technology for a wider user base. Transak’s unique capability to work effortlessly with exchanges, decentralized applications (dApps), and digital wallets ensures global reach, swift onboarding, and secure offboarding processes. As such, it serves as a vital catalyst for the growth of the decentralized economy.

In expanding throughout the United States, Transak is committed to a strategy that prioritizes compliance, thereby making sure all our services are secure, adaptable, and in sync with current regulatory standards.

About Transak

Transak is a globally recognized leader in Web3 payment infrastructure, catering to more than 8.13 million users spread across 160 different countries. By powering over 350 platforms, it enables seamless transactions involving digital assets through its API-based fiat-crypto onboarding and offboarding system, NFT purchasing options, and various tools designed to streamline KYC processes, compliance, payment methods, and customer service.

Based out of Miami, Florida (with incorporation in Delaware), Transak operates its main technology center in Bengaluru, India. In addition to this, it maintains offices in London, Milan, Dubai, and Hong Kong.

To find out more about us, check out our website at transak.com, connect with us on x.com/transak, or explore our company page on linkedin.com/company/transak.

Contact

Harshit Gangwar
harshit.gangwar@transak.com

Read More

2024-11-01 20:04