Flutterwave Obtains License from 29 US States

In a bid to expand operations and cover more grounds, the Nigerian fintech giant, Flutterwave, has obtained 13 new transmission licenses in the United States(US). Using its remittance product, Send App,the company is now more equipped to process transactions across 29 states in the US, facilitated by its already formed alliances.The executive Vice President for global expansion and partnerships at flutterwave, Stephen Cheng, has said the license obtained would implant the fintech’s footprint around the world.“Getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters trust of partners and customers” Cheng said.A few of these states are Missouri, Arizona, Lowa, Michigan, Arkansas, North Dakota and Delaware.Since it faced regulatory charges in Kenya last year, Flutterwave has continued to obtain remittance licenses.The recent license obtained comes months after the company made public the expansion of cross-border payments to the US.“These licenses reflect our commitment to working with regulators across various markets, following their requirements and ensuring the safety of customers’ funds. We will continue to create an environment of safety and trust”.Flutterwave in November this year was issued an International Money Transfer Operator (IMTO) license by the Reserve Bank of Malawi. Prior to this, flutterwave announced an alliance with the sixth ranked largest bank in India to assert IndusInd to broaden the Send App in the country.“Our mission is to connect Africa to the world and the world to Africa by simplifying payments for endless possibilities.These licenses move us one step closer to our vision and we will continue to expand this fact to ensure coverage for all states in the US and beyond” he said.