OpenPayd Adds 43 US Money Transmitter Licences Ahead of Nasdaq Listing

OpenPayd has completed the integration of MSB USA Inc., adding 43 US state money transmitter licences to the London-based financial infrastructure provider and giving its clients a regulated route into the American market without a state-by-state application process.

The company announced the deal on 2 September. Terms were not disclosed.

MSB USA is a US-based, state-licensed money services business providing USD account access and cross-border payment capability. It handles domestic and international money transmission, payment processing and settlement support, with access to ACH, Fedwire and SWIFT. It is not a bank and does not take deposits or issue bank accounts.

OpenPayd disclosed alongside the announcement that annual recurring revenue passed $96m as at 31 July 2026, that annualised transaction volume is above $300bn, and that it serves more than 1,200 clients globally. The company is preparing to list on Nasdaq through a merger with Titan Acquisition Corp., a deal valuing OpenPayd at up to $1.145bn on a pro forma equity basis.

"Programmable money will power the twenty-first century," said founder Dr Ozan Ozerk.

Chief executive Iana Dimitrova described the US entry as a transformative next step for the business, built on demand from clients for compliant payment infrastructure.

Licences as the product

The interesting part of this deal is what was bought. Acquiring a licensed entity to inherit its permissions is a well established route into US money transmission, and it remains the only practical one at speed: building 43 state licences organically is a multi-year exercise with no guarantee of a uniform outcome.

For embedded finance providers, regulatory coverage is increasingly the differentiator rather than the technology. Two platforms with comparable APIs are not comparable propositions if one can settle in USD across the United States and the other cannot.

The Nasdaq listing gives the move a second dimension. A US regulatory footprint materially strengthens the equity story for a European infrastructure business seeking an American public market valuation, and the timing of the announcement, weeks ahead of a planned listing, is unlikely to be coincidental.

For banks, the read is on correspondent relationships. Each of these platforms sitting between corporate clients and USD rails is a layer of intermediation, and one that arrives with its own compliance obligations attached.