Does a marketplace-style business need a money-transmitter license?

Asked Jan 7, 2016· 1 answer ·Americas, Developed Markets, North America, United States
Faisal KhanAnswered Jan 7, 2016
In the US, yes, especially if you will be holding on to the funds (though you may not be touching the funds, but if you hold on to them), you would definitely fall under a business that would need to have MTLs.

A marketplace falls in as an aggregator, which most of the States would classify you as an MSB and hence require you have an MTL.
Money Transmitter Licenses (MTL)US LicensingMoney Services Business LicenseMoney Services Business (MSB) AmericasDeveloped MarketsNorth AmericaUnited States
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