Transak obtains licenses in six states, expands stablecoin payment business in the US
ChainCatcher news, Transak has obtained Money Transmitter Licenses (MTL) in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania, bringing its total number of state licenses in the United States to 11. These licenses allow the company to legally process stablecoin transactions, transfer funds, and directly facilitate fiat-to-crypto conversions for users.
Transak currently has license applications pending in 19 states and plans to achieve coverage in all 50 states within the next 12 to 18 months. The company has also recently enabled wire transfer functionality and plans to launch ACH payments to improve bank transfer efficiency for U.S. users.
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