Comprehensive Guidance for Fintechs, Payment Providers, and Crypto Businesses in the United States
The US Money Transmitter License (MTL) is a state-level regulatory requirement for businesses that provide money transfer, payment processing, foreign exchange, or stored value services in the United States.
With over 50 states and territories, each with its own rules, acquiring an MTL can be complex, time-consuming, and high-risk if not handled correctly.
7BaaS helps fintech startups, payment service providers, and crypto platforms navigate state-specific requirements, prepare accurate applications, and ensure compliance with AML/KYC regulations across the U.S., giving businesses a faster and safer path to launch operations.
This license is essential for businesses handling payments or transfers that involve fiat currency or virtual assets in the U.S.
If your business operates in the U.S. and deals with money transfer or payments, you likely need an MTL. This includes:
Without an MTL, businesses risk fines, penalties, or operational shutdowns.
Obtaining a US Money Transmitter License involves meeting rigorous state-level requirements. While specifics vary by state, common requirements include:
7BaaS ensures all requirements are met precisely, reducing delays and minimizing the risk of rejection.
Step | Activity | Typical Duration |
1 | Business & Regulatory Assessment | 1 week |
2 | Documentation Preparation (AML/KYC, corporate docs, surety bond) | 1–2 weeks |
3 | Application Submission | 1–2 days per state |
4 | State Review & Approval | 4–12 weeks (varies by state) |
5 | Post-Approval Compliance Setup | Ongoing |
Timeline varies depending on number of states, business complexity, and readiness of documents. 7BaaS can streamline multi-state applications to save time.
We provide end-to-end advisory services for fintech, payment, and crypto businesses:
With 7BaaS, clients get peace of mind knowing their MTL compliance is handled by experts.
Operating without an MTL can lead to fines or business closure.
Most banks require proof of MTL for business accounts.
Licensed businesses demonstrate compliance and credibility.
Multi-state licenses enable expansion into new U.S. markets.
Obtain your state-level MTL quickly and compliantly with 7BaaS. Our experts guide you through assessment, documentation, filing, and ongoing compliance.
