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Money Transmitter License

U.S. Money Transmitter Licensing: Four Routes to Market Entry

What does the U.S. money transmitter licensing regime look like? This is the page that tells you everything in multiple languages.

A company that wants to move money in the United States has four ways in: buy a licensed company, apply for its own licenses, operate as an authorised delegate of a license holder, or build on a licensed provider’s API. This briefing sets out what each route costs, how long it takes, where the capital and liquidity sit, how New York, California and Texas differ, and the nine pieces of information you need before anyone can tell you which route is right.

The briefing runs to about 22 pages and is free to download. It is available in English and thirteen other languages. The translations are provided for convenience; the English text and its disclaimer govern.

Download the briefing

What the briefing covers

  1. Begin with the business model: the four routes and where you sit in the flow of funds

  2. The federal and state framework: FinCEN, NMLS, and why there is no national license

  3. Comparison of the four routes: timelines, budgets, and what each one lets you do

  4. Separating fees from capital and liquidity: the four funding buckets and a first-year cost example

  5. Major states and digital assets: New York, California, Texas, Montana, and stablecoins

  6. Foreign ownership and foreign-located MSBs

  7. Selecting the route and defining launch conditions

Figures are indicative as at the issue date and subject to change. This briefing is not legal, tax, or compliance advice. If you want help choosing a route for your own flow of funds, book a call.

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Page Last Updated: 16-Oct-2026 (6279565)