A worldwide Web3 payments service with its headquarters located in Miami, Transak has expanded its operations to Hawaii by taking advantage of the state’s more cryptocurrency-friendly laws.
Hawaii will no longer need bitcoin companies to get a money transmitter licence when the Digital Currency Innovation Lab (DCIL) investigation concludes in June 2024. The goal of this regulation change is to encourage innovation and expansion in the cryptocurrency industry.
Transak guarantees adherence to know-your-customer (KYC) and anti-money laundering (AML) regulations as it is registered with FinCEN.
Residents of Hawaii may easily sign up for the site, and its user-friendly design facilitates instant access to hundreds of cryptocurrencies.
Several of Transak’s major partners, such as BitPay, MetaMask, Changelly, and Trust Wallet, have gone live in Hawaii as part of this launch. For these platforms, Hawaii is a high-potential yet unexplored market.
Hawaii is the most interested state in cryptocurrencies in the United States, according to a Miq Intelligence analysis. Residents have had difficulties with Web3 onboarding, especially when trying to purchase cryptocurrencies with fiat money, despite their eagerness.
