PhotonPay receives US state money transmitter licence

Core Viewpoint - PhotonPay has obtained a money transmitter license (MTL) from a US state financial regulator, enhancing its payment and funds transfer capabilities in the region [1] Group 1: Regulatory Approvals - The MTL is a regulatory requirement for businesses involved in money movement or payment services at the state level, complementing PhotonPay's prior registration as a Money Services Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN) [1][2] - The combination of MSB and MTL approvals positions PhotonPay to further develop its operations in the US payments market [2] Group 2: Compliance and Security Enhancements - PhotonPay has reported improvements in customer and business verification (KYC, KYB), anti-money laundering measures, data security, and transaction monitoring to meet regulatory requirements and enhance operational reliability [2] - The company emphasizes that securing the MTL license strengthens its compliance architecture and reflects its commitment to risk management [4] Group 3: Future Expansion Plans - PhotonPay is actively working on obtaining relevant licenses in other regions, including Asia-Pacific, Europe, the Middle East, and additional parts of the Americas [3] - The company acknowledges the sophistication and complexity of the US regulatory landscape [3] Group 4: Technological Initiatives - PhotonPay participated in Circle's Arc public testnet, which aims to integrate real-world economic activity on-chain and evolve into an economic operating system for the internet [4][5]