Update: Turns out Transferwise also has its Texas License…
TransferWise, the online money transfer company started by ex-Skype cofounders: Taavet Hinrikus and Kristo Käärmann and has the venture capital backing of Sir Richard Branson got its first money transmitter license, issued by the State of Maine.
TransferWise was previously piggy-backing on PreCash’s license, until PreCash decided to exit the Authorized Delegate business because of trouble they had with the Texas regulator. In the interim period TransferWise has an FBO account arrangement with a bank.
After PreCash incident, TransferWise decided to pursue its own money transmitter licenses.
Copy of TransferWise license as can be seen from the NMLS Database.
Congratulations to the team at TransferWise!
[…] Such autonomy enables fast scaling (see the list of currently supported corridors here). TransferWise typically enters a new country via an intermediary, like PreCash in USA, while in parallel acquiring its own licenses. […]