Chipper Cash Announces The Provision of 100% Coverage in The US, After Obtaining Money Transmitter Licenses
African Fintech giant, Chipper Cash, has announced that it now provides 100 percent coverage in the US, after it obtained money transmitter licenses for 80% of US states, with well-established banking partnerships supporting operations in the remaining 20%.
This license will enable retail and business customers to use the Chipper app to seamlessly send and receive money both domestically and internationally in every State in the US.
According to Chipper Cash, the licenses will follow strict regulatory standards, ensuring unconditional security for customers transactions.
Speaking on the license, the company said,
“The expansion of our US licensing program now totals money transmitter licenses for 40 individual states, marking a substantial leap forward in our journey to fulfilling our mission – and setting us apart in the fintech landscape. Our journey to acquiring these 40 licenses has been a progressive stride, beginning in 2021 and gaining momentum in 2022 and 2023.
“This journey reflects our commitment to meet our mission: to provide the most trusted and reliable financial services to Africans and African Diaspora. These 40 licenses, in addition to the 15 we hold across the continent, further strengthens our global licensing portfolio to 55 licenses worldwide, and is a testament to our global reach and commitment to regulatory compliance.”
Chipper Cash money transmitter licenses reflect the startup goal to provide Africans in the diaspora with safe financial services. It also marks a substantial leap forward in its journey to fulfilling its mission and setting it apart in the fintech landscape.
With the recent expansion of its licensing portfolio, Chipper Cash intends to acquire all 53 US money-transmitter licenses in 2024, across all states in the U.S. The fintech startup is on a mission to provide trusted and accessible financial services for people living in Africa and beyond.
