UK-based digital payments firm Navro has obtained a money transmitter license in the US, issued by the Delaware Office of the State Bank Commissioner.

The license will enable Navro to offer its cross-border payments services to businesses in the US, marking the beginning of efforts to expand its operations across the country.

“This initiates the process of extending Navro’s footprint across the US,”

said CEO Aran Brown.

Founded in 2022, Navro provides merchants access to global financial systems through a single API.

It describes its platform as the “world’s first payments curation platform”.

In May, the company closed a US$41 million Series B funding round, with part of the capital allocated towards expanding its regulatory licensing.

Navro’s technology currently supports payouts in over 170 countries.

The company says it seeks to address some of the key challenges in US cross-border payments, such as high transaction costs and slow processing times typically associated with SWIFT.

The license from Delaware adds to a growing list of regulatory approvals acquired by Navro in 2024, including those in the European Union, the United Kingdom, and Canada.

Looking ahead, the firm has stated its intention to extend its regulatory presence in the Asia-Pacific region and the Middle East, with plans to establish operations in Dubai, India, and Hong Kong “in the coming months”.

Featured image credit: Edited by Fintech News America, based on image by Freepik