Transak, a Web3 payment infrastructure provider, has received its first Money Transmitter License (MTL) from the Alabama Securities Commission. This new license will allow Transak to legally facilitate cryptocurrency transactions in Alabama and is a significant step for the firm’s expansion into the US.

Transak is licensed for legal operations in nearly 46 states with its Alabama license, but many more licenses are needed to fully serve all US users. This process will take time due to the complexity and diversity of state laws in the US.

This new license will allow Transak to offer faster transactions and advanced requests to Alabama residents. Regulatory compliance requirements in US markets are becoming increasingly stringent, and this latest license helps Transak meet this growing regulatory demand.

Decentralized applications (DApps) that integrate with Transak’s services will benefit states like Alabama. However, users in states without a license may have to wait a while for the improvements to be made.

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