MoonPay has received a Money Transmitter License from the Wisconsin Department of Financial Institutions.

This license allows the company to expand its services in the state, according to a press release shared with Coin Insider Daily. This means that Wisconsin residents can now use MoonPay Balance to deposit funds for fee-free purchases, excluding ecosystem and network fees.

Wisconsin, the 20th most populous U.S. state, has shown increasing interest in crypto. Last year, it became the first state government to buy Bitcoin. 

The addition of Wisconsin brings MoonPay’s total MTL count to 46, reflecting its push for regulatory approvals across the U.S.

“With this license, we reinforce our commitment to compliance and consumer-first innovation,” said MoonPay co-founder and CEO Ivan Soto-Wright. “This milestone strengthens our position as a fully regulated platform.”

MoonPay’s latest ventures

MoonPay recently acquired Iron, a stablecoin infrastructure startup, to expand its enterprise payment solutions. The move, its second major acquisition in two months, was to improve instant, low-cost stablecoin transactions.

In January, MoonPay acquired Helio for approximately $175 million to expand its crypto payment solutions. Helio, which has processed over $1.5 billion in transactions in three years, will help MoonPay in bridging traditional and decentralized finance.