Transak Expands Stablecoin Payments with 6 New US State Licenses Amid Fragmented Rules
Stablecoin payment firm Transak has secured Money Transmitter Licenses in six additional U.S. states—Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania—bringing its total to 10 licensed jurisdictions. The approvals enable direct stablecoin transactions and fiat conversions, highlighting both growth opportunities and regulatory fragmentation.
"Every new license brings us closer to seamless fiat-to-crypto movement," said Bryan Keane, Transak's Americas compliance officer. The company now has 19 pending applications as part of a 50-state expansion plan within 18 months, currently servicing 46 states through partnerships.
This state-by-state licensing approach underscores the absence of cohesive federal crypto regulations, forcing firms to navigate a patchwork of regional requirements. Transak's aggressive licensing strategy positions it as a potential unifier in the fractured U.S. payments landscape.
