In summary, there are 3 ways to enter the remittance market in the US, 1) obtaining your own licenses, 2) through an agreement with a company that has the licenses to operate (this is the way we currently work), and 3) operating a digital platform where the whole process is done by the MSB, and we never touch the funds. Is this correct?

Ways to enter the US remittance market are defined by who holds the license and who manages the 'Flow of Funds' (FoF). While obtaining your own 50-state MTL licenses remains the ultimate goal for enterprise players, most modern fintechs enter through a 'Licensed Partnership' model. This guide breaks down the three regulatory paths: holding your own licenses, acting as an Authorized Delegate (AD) for a Principal, or utilizing a Remittance-as-a-Service (RaaS) platform where the provider manages the end-to-end banking rails and you never touch the money.