Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the news of MoonPay obtaining their Money Transmitter License in the state of Wisconsin.
MoonPay Get Wisconsin Money Transmitter License
The cryptocurrency payments platform MoonPay have announced the Wisconsin Department of Financial Institutions has agreed to grant MoonPay a Money Transmitter License (MTL). The company made the announcement as they stated 'Wisconsin residents can now enjoy full functionality to top up their MoonPay Balance.' This will allow users to deposit funds into their account for zero MoonPay fee purchases.
As MoonPay set the pace for local digital payments, they are doing so through a mixture of blending strict regulation with user-friendly crypto services. With the MTL MoonPay will be capable of complying with U.S. regulations as it expands its presence nationwide. The co-founder and CEO, Ivan Soto-Wright, stated:
“At MoonPay, we’re forging a compliant, consumer-first path to unlocking crypto for users all over the world. Earning our Wisconsin MTL strengthens our position in the market as a fully-regulated platform, and further solidifies our commitment to iron-clad compliance.”
To date Wisconsin has been known for its strong agricultural roots and growing interest in blockchain technology. The state made headlines in 2024 as they became the first U.S. state to purchase Bitcoin. The MTL will allow MoonPay to offer money transfer services in Wisconsin and they have now obtained 46 MTLs across the U.S. This will ensure the company maintains its ability to operate in diverse markets and meet regulatory requirements nationwide.
https://x.com/moonpay/status/1900551119530549561
Back in January MoonPay acquired Helio, a blockchain payment processor built on Solana, for $175 million. Helio allow payments for e-commerce, digital subscriptions, and online goods, in USDC, SOL, BTC, and ETH. Since then MoonPay have also obtained their MiCA license from the Dutch Authority for the Financial Markets. This ensures that MoonPay adheres to European crypto regulations while also allowing them to expand their operations within the region.
Have a great day.
Peace. CryptoGod-1.
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