Thunes secures US money transmission licences
Thunes, the Smart Superhighway to move money around the world, today announced it has secured the 50 licenses it requires to operate in the United States.
0
This marks a major milestone following its recent Series D funding round and reinforces Thunes' unwavering commitment to scale at pace and deliver on its strategic roadmap.
The acquisition of the licenses by the newly formed Thunes Financial Services LLC entity, is a strategic differentiator in allowing Thunes to deliver its comprehensive Pay and Accept suite of services directly to corporates, merchants and digital platforms across the U.S. By leveraging the new regulatory approvals, Thunes gains the ability to contract directly with American businesses for real-time cross-border payments, via its Direct Global Network, connecting to over 7 billion mobile wallets and bank accounts as well as 15 billion cards in over 130 countries and 80 currencies. In addition, American Members of the Network will now be able to fund Thunes locally.
Thunes' U.S. entry also opens new opportunities for Members of its Direct Global Network all around the world, who will now gain direct access to the vast U.S. market through a single, seamless integration.
Securing U.S. licenses reinforces Thunes' commitment to building a resilient and compliant global payments infrastructure. It represents a significant investment in strengthening its Fortress Compliance platform, ensuring rigorous adherence to some of the world's most demanding regulatory standards. Combined with Thunes' SmartX Treasury system, U.S.-based Members of the Thunes Direct Global Network will enjoy unmatched speed, transparency, protection, control, and cost efficiency in executing real-time payments in and out of the U.S., globally.
Floris de Kort, CEO of Thunes, said: 'At Thunes, we're proud to have built a world-leading payments Network. Securing our U.S. licenses marks a significant milestone in our global growth. It's a reflection of the momentum we've created and the trust we continue to earn. We're scaling with purpose and delivering limitless, tangible value to every Member of the Thunes Direct Global Network in the process.'
Chloé Mayenobe, President & Chief Operating Officer at Thunes, commented: 'With our newly obtained U.S. licenses, Thunes is now uniquely positioned to empower businesses across sectors - from travel and social media to digital assets, insurance, and gig economies - to join the world's most robust and reliable cross-border payments network. As Members of the Thunes Direct Global Network, they gain access to real-time payments and unlock new revenue opportunities in the fastest-growing markets worldwide.'
Ruwan De Soyza, General Counsel at Thunes, concluded: "Our successful license acquisition in the United States is a pivotal moment for Thunes. It allows us to extend our global footprint while upholding the highest standards of regulatory compliance and transparency. It also reinforces our commitment to managing risk with precision. By enhancing our robust legal and operational foundation, we are further equipping Thunes to responsibly drive innovation in cross-border payments and empower businesses worldwide. I am proud to lead a team dedicated to ensuring every step we take is both legally sound and aligned with our mission for global financial inclusion.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scottish Sun
an hour ago
- Scottish Sun
Burger chain which suddenly closed restaurants making shock return to Scots city
They had previously blamed the cost-of-living crisis for closing their previous city restaurant WE'RE BACK Burger chain which suddenly closed restaurants making shock return to Scots city Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A POPULAR restaurant chain, which abruptly closed several of its Scottish locations earlier this year, is set to make a comeback. Monterey Jack's is renowned for its gourmet American-style burgers, hot dogs, nachos, and cocktails. Sign up for Scottish Sun newsletter Sign up 4 They are set to reopen in Glasgow this month Credit: Scottish Sun 4 Signage has appeared in the shopping centre Credit: Scottish Sun 4 Monterey Jack's announces return of their restaurant to Glasgow Credit: Scottish Sun However, over the past year, the franchise lost several locations, including Dunfermline, East Kilbride, and Glasgow City Centre. At the time, bosses attributed the closures to the cost-of-living crisis, staffing challenges, and tough economic conditions. The chain currently operates six locations across Scotland. But there is good news on the horizon for the burger brand, as it prepares to celebrate its 10th anniversary. Monterey Jack's is set to make a significant return to the country's largest city after losing its central Glasgow location. The new venue is expected to open this month. Signage has already appeared in the St Enoch Centre, indicating a new location is on its way. Large branding has been installed in the shopping precinct's newest food court, accompanied by a "coming soon" sign that reads: "It's happening." The sign also states: "Award-winning, 100 per cent fresh, prime beef burgers. Succulent chicken, gourmet dawgs, delicious fresh shakes and desserts, and a bucket load of sides. You lucky things!" The firm confirmed via its Facebook page that the site is set to open in June 2025 though the exact opening date remains unclear. The Sun tries Wetherspoons' new menu Fans of the chain have taken to the comments to share their excitement about its return. One wrote: "Love MJ's! This will be great when we're shopping in Glasgow!" Another commented: "As centre staff myself, I actually can't wait to try Monterey Jack's UK – never tried it before!" A third added: "I loved the one in Merchant Square. "Such a shame it closed, like most places in there recently. "Looking forward to it opening."
The Herald Scotland
4 hours ago
- The Herald Scotland
Trump takes big step to make flying cars a reality
"This year, flying cars are not just for the Jetsons. They are also for the American people in the near term," Michael Kratsios, director of the White House Office of Science and Technology Policy, told reporters. Trump in an executive order directed the Federal Aviation Administration to expedite approval for routine commercial drone operations that retailers such as Amazon have said are crucial to expanding airborne deliveries. Orders that Trump signed will also allow manufacturers to begin testing flying cars and removed regulatory barriers his administration says are preventing supersonic over land passenger flights from being introduced in the United States. The changes will also allow drones to be used to be used in emergency response situations, including responding to wildfires, and long-distance cargo and medical delivery, the administration says. Trump's order establishes a pilot program for electrical vertical take-off and landing aircraft, known as eVTOLs, a type of flying car, that his administration hopes will lead to public private partnerships across the country. It is based on a 2017 program from the first Trump administration and will apply to emergency medical services, air taxis and cargo deliveries among other areas. The administration says the program will allow companies that are already conducting this type of testing, such as Joby's air taxi service, to partner with state, local and tribal governments. The California-based company plans to begin flight testing in Dubai within months and aims to launch passenger services on the aircraft in late 2025 or early 2026. Flying cars are coming! Here's how they could change the way you travel. Another order instructs the FAA to establish a standard for noise certification and lift a ban on overland supersonic flight. Kratsios said that advances in aerospace engineering and noise reduction have made over land supersonic flight safe, sustainable and commercially viable but federal regulations have grounded the speedy passenger flights and weakened U.S. companies' competitiveness. "The reality is that Americans should be able to fly from New York to LA in under four hours," Kratsios said. Trump separately established a federal task force to review and propose solutions to threats to America's airspace from personal unmanned aircraft and directed his administration to step up enforcement of civil and criminal laws against drone operators who endanger the public or violate airspace restrictions. The directives were issued with the 2026 FIFA World Cup and 2028 Summer Olympics on the horizon.
The Herald Scotland
7 hours ago
- The Herald Scotland
New risks emerge as America becomes less attractive
For decades, international investors have treated US government bonds as the safest place for their money. A long bull market in shares has been supported by American bonds and a sound US dollar. Since the global financial crisis of 2008, the underpinning of a 'safe haven' has helped stock markets to cope with other uncertainties. Now, investors are demanding much higher returns to lend money to the US government long-term. America is becoming less attractive to global investors at a time when its government needs them for finance more than ever. There is plenty to be nervous about. The US government is spending far more than it takes in, with the deficit up this year. Trump's spending and tax cut plans are likely to add to the US national debt over the next decade. And the US dollar has fallen to its lowest level in almost three years. US business confidence is weak, with the full impact of the supply turmoil yet to bite. Many manufacturers had stockpiled goods and components ahead of Trump's tariffs and import controls, but this buffer will soon be exhausted. May's stock market rally might seem reassuring on the surface. Major US technology companies like Apple, Microsoft, Amazon, and Nvidia delivered strong earnings and drove most of the market gains. The biggest seven tech companies alone were responsible for more than half of the US stock market's rise in May. But these trading results do not yet reflect the full impact of the trade war and supply changes. Analysts expect slower earnings growth for these businesses over the next year. Trump still plans further action, and the tariffs to date will produce significant adverse effects; higher consumer prices, lower business investment and lower economic growth. Read more: Perhaps most worrying for investors is the inflation risk building up worldwide. As global tensions rise, governments will spend more on defence, with limited scope for tax increases. Business costs will also increase, as trade disputes continue to disrupt how goods move around the world. Global borrowing costs could force central banks to keep interest rates higher for longer. The Governor of the Bank of England has warned that interest rate cuts are now more uncertain. There are signs that the tension between governments that want to spend more and nervous international lenders is also playing out in the UK, EU and Japan. British government bonds – gilts- are already seeing pressure as investors become more choosy about lending to governments anywhere. The OECD report this month warned that weak consumer confidence and fragile public finances leave the UK vulnerable to shocks. Appeasing lenders by cutting spending or raising taxes would hit economic growth. The end of US exceptionalism, linked to the declining role of the US dollar as a reserve currency, may be a gradual process as it was for the UK. There is still growth in many major US businesses and the US stock market is by far the most liquid globally. Shares have a record of coping better than bonds with rising inflation and there is value is stock markets outside the US. But we may be seeing the end of an era when investors could pay less attention to currency movements. And, although government bonds have a role in diversifying portfolios along with a spread of investments internationally, it is harder now to escape geopolitical risks. The recent stock market rebound may give opportunity to rebalance portfolios. Colin McLean is a director of Barnton Capital
