Transak Expands Stablecoin Payments with 6 New US State Licenses Amid Fragmented Rules

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company’s total to 10 licensed states, including Arkansas, Delaware, Illinois, and Missouri.Each license allows Transak to process stablecoin transactions and fiat-to-crypto conversions directly.While the move strengthens Transak’s operational independence, it also shows the fragmented nature of U.S. crypto regulation, where companies must obtain state-by-state approvals to operate nationwide.“Every new license we secure brings us closer to a future where users can move between fiat and digital assets seamlessly and lawfully,” said Bryan Keane, Transak’s compliance officer for the Americas.Keane said the licenses focus on regulatory control, giving Transak more flexibility to innovate around new payment architectures and upcoming stablecoin use cases.The company currently has 19 additional MTL applications pending and plans to achieve direct coverage across all 50 states within the next 12 to 18 months.Transak obtained its first state license in Alabama in 2024 and already serves users in 46 states through partners. Its move toward full direct licensing marks a shift from third-party access to a fully compliant, native payments network built to meet evolving U.S. regulatory standards.Source: TransakMTLs are mandatory for financial and crypto payment firms operating in the United States.They authorize businesses to transmit money, manage digital assets, and enforce anti-money laundering (AML) and consumer protection rules. Firms without proper licensing risk enforcement action or suspension.To obtain an MTL, companies must register with FinCEN as Money Services Businesses (MSBs), submit state applications, undergo background checks, and maintain AML and Know Your Customer (KYC) programs.Source: Department of Financial ServicesHowever, requirements vary across states, creating a fragmented regulatory environment that increases compliance costs and slows national expansion.This contrasts sharply with the European Union’s Markets in Crypto-Assets (MiCA) framework, which allows licensed firms to operate across all 27 member states through a single authorization, an efficiency that U.S. firms like Transak lack.Transak’s latest progress follows a string of U.S. milestones. 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