Crypto payment infrastructure provider Transak has significantly expanded its regulated operations in the United States, securing six new state money transmitter licenses to build a national stablecoin payment network amidst a fragmented regulatory landscape.
These new approvals in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania bring Transak’s total to 11 licensed states.
The expansion positions Transak as one of the most regulated and compliant payment providers in the U.S. stablecoin market, according to Cryptopolitan.
The licenses allow Transak to directly manage conversions between traditional fiat currency and cryptocurrencies within these states, eliminating intermediaries.
This direct model aims to improve transaction success rates, reduce operational costs, and offer a smoother experience for the company’s more than 450 integrated partners.
Transak’s strategy unfolds while U.S. digital asset regulations remain largely stalled.
Unlike the European Union’s MiCA law, which provides community-wide licenses, U.S. companies must seek individual state-level permissions, each with unique capital and compliance requirements.
The company states its new licenses are critical to its mission of establishing a fully regulated stablecoin payment network across more U.S. regions.
Transak serves as a crucial partner for businesses requiring compliant “on-ramp” and “off-ramp” infrastructure, enabling legal transfers between digital assets and fiat money.
Earlier this year, Transak became the first provider to facilitate direct USD bank transfers via wire for crypto purchases and plans to integrate Automated Clearing House (ACH) payments.
The company also expanded support for stablecoins like USDC, RLUSD, and USDG.
Its alliance with MetaMask has been strengthened to offer regulated, native bank deposits into digital wallets through a white-label service.
In October, Transak partnered with Cross River Bank, an American banking institution, to provide bank-level oversight and ensure faster, compliant fiat-crypto transactions.
Industry analysts note Transak’s consistent pace of accumulating licenses places it among a select group of crypto infrastructure firms pursuing nationwide U.S. operations.
Transak has additional license applications under review and intends to continue its expansion into other states, aiming for consistent payment flows across all 50 U.S. jurisdictions.
Achieving national coverage is essential for making digital value transfers as straightforward as sending an email, the company said.
“Each new license that we obtain brings us closer to a future where users can move between fiat money and digital assets seamlessly and legally,” said Bryan Keane, Transak’s Americas Compliance Officer.
He added, “Our new licenses are a testament to our team’s tireless focus on operational excellence and building trust with regulators worldwide.”