Transak is expanding its presence in the United States by securing licenses in Illinois and Missouri, allowing the company to offer faster and more reliable crypto transactions.
Acquisition of Money Transmitter Licenses
Transak has acquired money transmitter licenses in the states of Illinois and Missouri, enabling it to conduct money transmission activities in full compliance with US financial laws. These licenses allow Transak to directly facilitate fiat-to-crypto transactions for residents and businesses in these states, ensuring enhanced consumer protection and collaboration with financial institutions.
Expansion of Product Offerings
With the newly acquired licenses, Transak can introduce new services including remittance solutions, payroll processing, and direct cross-border payments, thereby strengthening its local presence and regulatory compliance.
Future Plans and Initiatives
Transak continues to actively expand its presence in the US market by pursuing licenses in additional states, demonstrating its commitment to regulatory compliance. Transak's Americas Compliance Officer, Bryan Keane, emphasized the company's dedication to providing trustworthy services adapted to the evolving crypto regulatory landscape.
Securing licenses in Illinois and Missouri enables Transak to strengthen its position in the US market, continuing to deliver safe and compliant cryptocurrency services.
