Transak Stablecoin Licenses Expand US Market Reach
Transak Secures Additional State MTLs
Stablecoin payment provider Transak has expanded its regulatory footprint in the United States after securing new state Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania. The move, announced on Tuesday, raises Transak’s total state licenses to 11, opening avenues for direct, regulated stablecoin transactions in these jurisdictions. With these new approvals, Transak can legally process stablecoin payments, transmit funds, and handle fiat-to-crypto conversions without intermediaries in licensed states, Cointelegraph reported.
“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, as quoted by Cointelegraph.
US Regulatory Patchwork Challenges Crypto Expansion
The expansion of Transak stablecoin licenses underscores the fragmented regulatory environment for crypto companies in the US. Unlike the European Union’s Markets in Crypto-Assets Regulation (MiCA), which allows a single license to operate across all 27 member states, US companies must obtain individual MTLs from each state. This “patchwork” approach means providers like Transak may require up to 50 separate applications, each with unique requirements, leading to higher costs and slower nationwide rollout.
Transak began its push for direct licensing in 2024, starting with Alabama. Today, although Transak can access users in 46 states through partners, its direct licenses mark a deliberate strategy for building a compliant native payments stack. Bryan Keane explained, “The state licenses we’re now securing are about deepening regulatory control, not expanding access — they give us more flexibility to innovate around upcoming stablecoin use cases and new payment flow architectures,” according to Cointelegraph.
As regulatory fragmentation continues, crypto payment companies operating in the US must balance state requirements while preparing for potential future federal legislation regarding stablecoins.
Growing US Presence and Upcoming Initiatives
Transak has 19 additional state license applications in progress and aims for direct state-by-state coverage across the entire US within 12 to 18 months. Keane confirmed company optimism for future federal stablecoin regulation, noting, “Any framework that defines how regulated stablecoins can be issued, held, and used is a net positive,” while also cautioning about the lengthy alignment process between state and federal rules.
Recently, Transak became the first US crypto on-ramp to enable wire transfers, allowing users to fund crypto accounts using bank wires. The company is also preparing to roll out Automated Clearing House (ACH) payments, aiming to speed up bank-to-bank transfers for US customers. These initiatives align with Transak’s broader mission to drive adoption of stablecoin payments at scale and ensure developer, business, and user access to lawful, compliant stablecoin-powered cross-border transactions.
What’s Next for Transak Stablecoin Licenses?
As Transak continues to secure additional state MTLs, the company plans to expand direct stablecoin services and facilitate wider access across the country. By building an extensive, regulated payments network, Transak positions itself for growth in both the current fragmented landscape and a potential future where federal guidelines simplify national crypto regulation. Until comprehensive federal clarity arrives, Transak will maintain its focus on compliance with state-level requirements and innovation in payment solutions.
For additional updates on stablecoin regulation and cryptocurrency payments, visit the Vizi Cryptocurrency section.
