Crypto payment firm accelerates toward nationwide coverage amid fragmented regulation
Transak Strengthens US Presence With New Money Transmitter Licenses
Stablecoin payments provider Transak has expanded its US footprint by securing Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania, bringing its total to 11 licensed states. The move underscores both the company’s compliance ambitions and the ongoing fragmentation of US state crypto regulation.
With these new approvals, Transak can now legally process stablecoin transactions, handle fiat-to-crypto conversions, and transmit funds directly with users. Existing licenses in Arkansas, Delaware, Illinois, and Missouri have already positioned the firm as one of the most compliant on-ramp providers in the stablecoin sector.
“Every new license we secure brings us closer to a future where users can move between fiat and digital assets seamlessly and lawfully,” said Bryan Keane, Transak’s compliance officer for the Americas.
The Fragmented Path to Stablecoin Compliance
While Europe’s MiCA framework enables crypto firms to operate across 27 EU states with a single license, the United States requires a separate MTL in every state. This patchwork model forces crypto companies to submit up to 50 individual applications, each with different fees and timelines, creating an expensive and slow route to full coverage.
Transak began its direct licensing journey in 2024 with its first MTL in Alabama. Although the company already reaches users in 46 states through partner integrations, its growing list of direct licenses marks a clear pivot toward a fully regulated, self-managed payments network.
Toward Nationwide Coverage
Keane explained that the new approvals are aimed at deepening regulatory control rather than simply expanding access.
“The state licenses we’re now securing are about deepening regulatory control — they give us more flexibility to innovate around upcoming stablecoin use cases and new payment flow architectures,” he said.
Transak currently has 19 additional state applications pending and aims to achieve direct licensing in all 50 states within 12 to 18 months. Keane also voiced optimism about potential federal stablecoin legislation, calling it “a net positive” for both users and infrastructure providers, though he acknowledged that federal–state alignment could take years.
Building for Stablecoin Adoption at Scale
In August, Transak became the first US crypto on-ramp to enable wire transfers, allowing users to fund crypto accounts directly from their banks. The company now plans to introduce ACH (Automated Clearing House) transfers to make domestic crypto payments faster and more accessible.
Transak stated that its ongoing licensing campaign is part of a broader mission to make stablecoin payments “usable at scale.” By strengthening compliance and regulatory coverage, the firm aims to ensure that developers, businesses, and consumers can safely participate in the next wave of stablecoin-driven financial innovation across the United States.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.