TransferMate Expands Reach with Payment License Application in the U.S. Virgin Islands

TransferMate, the world’s leading provider of embedded B2B payments infrastructure as a service (IaaS), has submitted its application for a Money Transmitter License (MTL) in the U.S. Virgin Islands.

This means partners and their customers doing business in the U.S Virgin Islands will be able to access TransferMate’s full suite of services - including payments, receivables, and stored funds globally subject to regulatory approval. This will simplify cross-border transactions, enhance cash flow visibility, and reduce the need for multiple banking relationships for B2B clients in the region.

A license in the US Virgin Islands will mark another significant step in TransferMate’s global strategy and builds on the momentum of the company’s recent in-principle approval for an e-money license in Singapore, as well as a license application in Bahrain.

“Each new license reinforces our position as the most extensively licensed B2B payments provider in the world,” said TransferMate’s CEO, Gary Conroy. “Our latest application is a clear signal of our ambition to simplify cross-border payments at scale - backed by robust compliance, infrastructure, and a truly global network.”

TransferMate has built the largest fintech payment infrastructure in the world, currently owning 98 licenses, empowering businesses around the world to make and receive payments in 140+ currencies across 200+ countries and territories.

To explore TransferMate's licensing network, click here.

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