WorldRemit inched closer to its goal of obtaining its own money transmitter license in all available U.S. states with the announcement that it’s added a proprietary license in Rhode Island.

In the booming $600 billion global remittance industry, it’s not necessary for agents to have their own money-transmitter licenses—many go through a bank or rent a license from a third party—but the most secure approach is to obtain your own, according to said Brion Nazarro, a director with WorldRemit’s U.S. division.

Limited Time Offer

Save over $700 on your subscription. Special offer expires April 30, 2017.

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry