Transak secures first money transfer license (MTL) in Alabama, paving the way to expand crypto services across the U.S. This achievement strengthens Transak’s regulatory framework and makes crypto transactions safer for users. Masu.
Transak is pleased to announce that it has received its first Money Transmission License (MTL) from the Alabama Securities Commission. This marks an important step in Transac’s mission to provide secure and accessible cryptocurrency services across the United States. The new license strengthens the company’s commitment to regulatory compliance and enables Transak to build a strong and compliant infrastructure within the U.S. cryptocurrency market.
With this Alabama license, Transac demonstrates its commitment to operating within a clearly defined regulatory framework, which is essential to its long-term success in the U.S. market. Transak currently facilitates crypto purchases in 46 states, and this latest milestone further highlights the company’s commitment to making crypto services more accessible to users across the country.
The newly acquired license is publicly available through the Nationwide Multistate Licensing System (NMLS) with NMLS ID: 2362652.
As a FinCEN-registered money services business, Transac aims to secure additional money transfer licenses across the United States. This will enable the company to offer a wide range of cryptocurrency services to both users and partners. Obtaining these licenses will enable Transak to deliver faster transactions, enhanced customer support, and an improved overall experience for users when purchasing cryptocurrencies.
For users looking to purchase cryptocurrencies, the Alabama Money Transfer Agent License means increased security and transparency. By operating as a nationally licensed money transmitter, Transak ensures that all transactions comply with financial regulations, giving users peace of mind that their cryptocurrency transactions are conducted safely and responsibly. provided to you.
“Achieving a money transmitter license in Alabama demonstrates our team’s commitment to compliance and Transac’s mission to make crypto securely available to everyone. Our goal is to: We are licensed in all states to ensure our users experience the highest standards of security, speed and reliability when trading cryptocurrencies,” said Brian Keene, Head of Compliance at Transac. Masu.
This license demonstrates Transac’s intent to maintain legal and financial compliance in the U.S. crypto market while enhancing payment capabilities. It also highlights the importance of regulatory oversight in markets like the United States, where strong consumer protection and compliance are critical to building trust in cryptocurrency services.
Decentralized applications (dApps) that integrate Transak’s services will benefit from this development by providing users with smoother and more compliant cryptocurrency transactions in Alabama. As Transak continues to expand its licenses, these platforms will attract a broader user base, especially one that prioritizes regulatory compliance and trust.
As a leading Web3 payments infrastructure provider, Transak serves more than 5.7 million users in more than 160 countries. The United States remains an important market for the company, and the license is part of a broader effort to secure regulatory approval in other states. This will enable Transak to offer both users and partners a more comprehensive cryptocurrency experience, including larger cryptocurrency options, faster service, and a stronger partnership network.
By acquiring more licenses, Transac will be better positioned to meet the evolving needs of the U.S. market. This adaptability allows Transac to deliver the kind of experience that discerning crypto and financial services customers expect: one backed by the same level of regulation and consumer protection as traditional financial institutions. It will be.
“The United States is one of our largest markets, and we are committed to providing the best possible service here. To achieve this goal, securing state licenses such as ” said Sami Sturt, CEO of Transac.
Transak currently enables the purchase of cryptocurrencies in 46 states, with more licenses expected in the near future. This expansion allows Transak to continue to lead the way in providing secure, compliant, and accessible cryptographic services across the United States.
About Transac
Transak is a leading provider of compliant Web3 payments infrastructure, serving more than 5.7 million users in more than 160 countries. We support over 350 platforms by providing API-driven solutions for fiat on/off ramp services, NFT checkouts, and more. Transak simplifies KYC, compliance, payment processing, and customer support, making digital asset transactions seamless for users.
Headquartered in Miami, Florida and incorporated in Delaware, Transac operates globally with a technology hub in Bangalore and offices in key locations including London, Milan, Dubai and Hong Kong. I am.
For more information, visit Transak or follow us on X and LinkedIn.
