Scallop Is the Latest International Crypto Firm to Crack the US Regulatory Code

• Scallop’s global footprint is now among the largest in the sector, with the company holding compliance authorizations in more than 160 countries
• The license is particularly noteworthy because the US is a massive market both for fintech and crypto
• The license approval places Scallop among a small group of global crypto-fintech companies that are prepared to expand into major regulated markets

Scallop, a digital finance platform, announced it has officially secured a Money Services Business (MSB) license in the United States, which is a major milestone that expands its regulated crypto-fiat banking services to the United States.

Scallop’s U.S. Market Entry and Services

With the MSB license, Scallop joins a select group of crypto-native platforms legally authorized to operate fully regulated fiat and crypto services in one of the most important financial markets in the world.

The new license is particularly noteworthy because the US is a massive market both for fintech and crypto. With it, Scallop plans to launch its fintech app offering multi-currency fiat accounts, Visa debit cards and Mastercard credit cards (allowing spend and credit access via fiat or…

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