Digital money transfer service WorldRemit has secured the approval to offer its services across all 50 states in the US.
The company received the first licence from the state of Iowa in August 2014. The 50th licence was procured from the state of Louisiana last month.
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WorldRemit founder and CEO Ismail Ahmed said: “We’re pleased that our low-cost, convenient service is now offered in every state, giving more customers access to our highly-rated service.
“The strong growth of our US business demonstrates consumers’ appetite for our simple-to-use service which saves them time and money.”
The US accounts for more than 40 million immigrants. According to World Bank estimates, remittances sent from the country have soared to $66bn.
In the US, WorldRemit recorded more than 160% growth in transactions last year. The country is also expected to become WorldRemit’s largest send market, contributing 40% to its global revenue in the next few years.
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By GlobalDataEarlier this month, WorldRemit partnered with First Bank of Nigeria to enable instant money transfers to Nigeria.
