Alabama Transk issued a Money Transfer License (MTL).

Transac secures first Money Transfer License (MTLL) in Alabama. The license includes security, speed and compliance with US cryptocurrency services. As Web3 grows its payment infrastructure, Transc will target additional state licenses.

On October 3, 2024, Transc USA LLC achieved a major milestone by receiving its first Money Transfer License (MTLL) from the Alabama Securities Commission.

This regulatory approval positions Transc as a fully licensed financial institution in the state, a key step in its mission to provide secure and accessible cryptocurrency services across the United States.

Trancak is expanding its footprint in the US.

The Alabama MTL reinforces Trans's commitment to the regulatory system, highlighting the company's efforts to build a secure and transparent infrastructure for crypto transactions in the US.

With cryptocurrency purchases enabled in 46 states, the company is actively working to secure additional licenses across the country. This proactive approach reflects Transak's commitment to wide access and compliance with strict financial regulations.

As a FinCEN-registered financial services business, Trans's new license is a significant sign of confidence for its consumers. It enables the company to offer enhanced security, faster transactions and a more seamless user experience for crypto purchases in Alabama. The move integrates decentralized platforms with Transak services, enabling them to offer their users a smoother and more compliant crypto buying experience.

Brian Keen, Chief Compliance Officer at Transk, said: “Getting a money transmitter license in Alabama demonstrates our commitment to compliance and our mission to make our crypto accessible and secure for everyone.

In the same breath, Transc CEO Sammy Starr emphasized the importance of the US market, saying, “Securing such government approval is essential to providing the best services here.”

With more than 5.7 million users in 160 countries, Transac continues to expand as the largest provider of Web3 payment infrastructure. Headquartered in Miami, with additional offices and technology centers worldwide, Trancak focuses on acquiring additional state licenses in the US, ensuring its users an increasingly secure and legally compliant crypto experience.

The Alabama MTL marks a major step for Transc as it solidifies its position in one of the most regulated and lucrative markets in the world.