Web3 payment platform Transak obtains Canadian MSB and Delaware MTL licenses

ChainCatcher news, Web3 payment platform Transak has registered as a money services business (MSB) with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), while in the United States, it has obtained a money transfer license (MTL) from the state of Delaware.

FINTRAC’s registration recognizes Transak Canada as an MSB and requires the company to comply with strict anti-money laundering (AML) and anti-terrorist financing (ATF) standards.

In the United States, Transak USA LLC received its second state-level MTL, this time in Delaware, after receiving its first license in Alabama in September. The Delaware license allows Transak to provide regulated crypto services, including the purchase and transfer of digital assets, to residents and businesses in the state.

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