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Transak, a global crypto payment infrastructure provider, has secured six new stablecoin payment licenses across the United States — a milestone that underscores both its growth ambitions and the ongoing complexity of U.S. crypto regulation.
The company announced that it had obtained Money Transmitter Licenses (MTLs) in Iowa, Kansas, Michigan, South Carolina, Vermont, and Pennsylvania, bringing its total to 11 licensed states. These new stablecoin payment licenses allow Transak to legally process digital asset transfers, facilitate fiat-to-crypto exchanges, and handle customer funds directly under state supervision.
“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.
The development marks another step in Transak’s strategy to build a fully regulated payments ecosystem in the U.S. — a country where stablecoin payment licenses must be obtained individually in each state, unlike the European Union’s single-license system.
While Transak’s latest approvals expand its regulatory coverage, they also highlight the fragmented approach to stablecoin payment licenses in the United States.
Each state’s licensing regime operates independently, meaning crypto payment firms must navigate up to 50 different regulatory processes, each with its own timelines, fees, and compliance obligations.
In contrast, the European Union’s Markets in Crypto-Assets (MiCA) framework allows licensed firms to “passport” their approval across all 27 member states, creating a unified crypto market. That model offers a stark contrast to the patchwork system that currently defines the U.S. landscape.
For Transak, this challenge began in 2024, when it secured its first state-level stablecoin payment license in Alabama. The milestone allowed the firm to operate independently within the state rather than relying on intermediaries. Since then, Transak has expanded its regulatory base, now operating directly in 11 states and indirectly reaching users in 46 others through partner institutions.
This growing list of stablecoin payment licenses reflects the company’s commitment to building a native, compliant payment stack in one of the world’s most complex regulatory markets.
Keane emphasized that the latest state-level licenses are as much about control as they are about expansion.
“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,” — Bryan Keane, Compliance Officer, Transak.
He revealed that Transak currently has 19 additional state applications pending and expects to achieve full U.S. coverage within 12 to 18 months. The goal is to create a unified foundation for nationwide operations even before federal legislation catches up.
Keane added that the company remains “optimistic about federal stablecoin legislation,” arguing that a consistent national framework would benefit both users and infrastructure providers.
“Any framework that defines how regulated stablecoins can be issued, held, and used is a net positive,” he said, while acknowledging that aligning state and federal rules “could take years.”
Until then, Transak will continue expanding within the existing state-by-state system — a strategy that reinforces its leadership among firms pursuing stablecoin payment licenses in the U.S.
Transak’s aggressive licensing push aligns with its broader plan to make stablecoin payment licenses central to its growth in the payments ecosystem.
In August, the company became the first U.S. crypto on-ramp to enable wire transfers, allowing users to fund crypto accounts via traditional banking systems. It also plans to roll out Automated Clearing House (ACH) payments — a system that facilitates faster, bank-to-bank transfers — to simplify fiat-to-crypto conversions for American customers.
According to its official release, the new stablecoin payment licenses form part of its mission to make stablecoin transactions “usable at scale.” The company said it is continuing to file MTL applications in additional states as it builds the legal and technical framework for seamless, compliant stablecoin adoption across the U.S.
Ultimately, Transak believes its expanding network of stablecoin payment licenses will ensure that developers, businesses, and consumers can participate in the next wave of stablecoin-driven payments and cross-border transactions within a transparent and regulated environment.
