Transak Pushes Toward Nationwide Licensing as It Secures Six More U.S. State Approvals

Stablecoin payment company Transak has just secured six U.S. state Money Transmitter Licenses (MTLs) in six different states—, in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania — in its mission to achieve direct licensing coverage across all 50 states.

The new approvals bring Transak’s total to 11 licensed states, including Arkansas, Delaware, Illinois, and Missouri. Each MTL authorizes the company to process stablecoin transactions, transmit funds, and facilitate fiat-to-crypto conversions directly with users — eliminating the need for intermediaries.

In the U.S., crypto payment providers are required to obtain a MTL before they are allowed to handle customer funds. But with each state having their own requirements, timelines and fees, it makes Transak's task of applying for a license in every state extremely tedious and expensive.

By comparison, the European Union’s Markets in Crypto-Assets Regulation (MiCA) offers a universal passport model, where a single crypto license in any country could give you unrestricted access to the rest of the member states.

The U.S. lacks such cohesion — forcing crypto companies to navigate up to 50 distinct licensing regimes to achieve nationwide compliance.

A deliberate move toward deeper control

Transak started its quest to get full regulatory access in the United States back in 2024, with its first success being Alabama. While Transak could easily reach all the users in the different states through its partners, the company’s push for full licensing is not primarily about user expansion — it’s about regulatory depth and operational autonomy.

Byan Keane, Transak's Compliance officer explained

“Every new license we secure brings us closer to a future where users can move between fiat and digital assets seamlessly and lawfully. 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.”

In practical terms, deeper regulatory control means Transak can operate natively within state frameworks — adapting more quickly to evolving laws, engaging regulators directly, and testing new financial products without relying on third-party intermediaries. This shift allows the company to align its infrastructure with local compliance standards while building toward a consistent national presence.

Keane revealed that on top of the license it has already obtained, the company is applying for 19 additional state licenses, with the company targeting full 50-state coverage within 12 to 18 months.

While Transak remains optimistic about future federal stablecoin legislation, which could unify the current patchwork of state laws, Keane noted that such alignment may still take years. Until then, Transak intends to keep building within the system — one license at a time.

Betting on the rise of stablecoin adoption

The company’s steady licensing momentum comes as stablecoins gain traction in mainstream payments. In August, Transak became the first U.S. crypto on-ramp to enable wire transfers, allowing users to fund crypto wallets directly from bank accounts.

It also plans to introduce Automated Clearing House (ACH) transfers, streamlining everyday bank-to-bank transactions for American users. Transak says these upgrades are part of its mission to make stablecoin payments “usable at scale” — bridging traditional finance and Web3 through fully compliant infrastructure.

As stablecoins increasingly power cross-border transactions and digital commerce, Transak’s growing network of licenses positions it to serve as a key enabler of that shift.

By betting early on regulatory integration rather than avoidance, Transak is carving out a distinct space in the crypto payments ecosystem — one where compliance becomes a competitive edge.