Transak gains Delaware Money Transmitter License and FINTRAC registration

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The MTL will allow Delaware residents and businesses to use the cryptocurrency platform. Transaks first MTL came from the Alabama Securities commission and the company stated they intend to continue to expand across the US.

Sami Start, CEO, Transak, said: “We believe that the world’s best payment infrastructure is incomplete without appropriate licenses. This new license in Delaware underscores our commitment to building a trustworthy, secure, and legally compliant ecosystem that sets the gold standard for Web3 payments infrastructure by ensuring that users and businesses across the U.S. have the confidence to transact freely and securely.”

Regarding their registration with FINTRAC, Bryan Keane, compliance officer, Transak, commented: “We believe that strong legal and compliance frameworks are essential for fostering trust and confidence in the crypto industry. This registration involved a thorough review of our operations and close collaboration with Canadian authorities. Now, FINTRAC registration opens doors for Transak and the entire Canadian crypto community.”

Throught the registration Transak is recognised as a Money Service Business and the company committed to transparent operations and compliance with Canadian financial regulations.