Transak Expands US Presence with 6 New State Licenses

Stablecoin payment provider Transak has secured six new Money Transmitter Licenses (MTLs) across the United States, bringing its total to eleven states. This expansion bolsters Transak’s presence in a market navigating regulatory fragmentation, according to an announcement shared by Cointelegraph. The licenses allow Transak to legally process stablecoin transactions and facilitate fiat-to-crypto conversions directly with users without relying on intermediaries. 11 MTLs allow the company to safely handle customer funds, execute value transfers and operate as a regulated financial intermediary in the US.