Transak Secures Stablecoin Licenses in 11 US States
Transak, a cryptocurrency payment provider, has expanded its Money Transmitter Licenses (MTLs) to 11 US states, adding approvals in Iowa, Kansas, Michigan, South Carolina, Vermont and Pennsylvania to its initial Alabama license. These stablecoin licenses enable direct fiat-to-crypto conversions and USD stablecoin payment processing under state supervision, bypassing third-party intermediaries. Transak also launched wire transfers for on-ramping and plans to add ACH payments soon. With 19 more state applications pending, the firm aims for full nationwide coverage within 12–18 months. This state-by-state strategy contrasts with the EU’s single-license MiCA passport framework. By streamlining regulatory compliance, Transak positions itself to scale stablecoin payments and prepare for upcoming federal stablecoin legislation.
Neutral
Transak’s expansion of stablecoin licenses and Money Transmitter Licenses enhances the infrastructure for fiat-to-crypto on-ramps and strengthens regulatory compliance across multiple US states. While this development streamlines stablecoin transactions and could boost overall network usage, it does not directly impact the price of any specific cryptocurrency. In the short term, traders may view improved on-ramp accessibility as a supportive factor for market liquidity, but without a clear catalyst for price movements, the broader effect remains neutral. Over the long term, stronger compliance frameworks may foster confidence in stablecoin adoption and transactional volume, yet price stability of USD-pegged tokens means limited volatility influence.