OpenPayd gains 43 U.S. licenses ahead of Nasdaq deal

OpenPayd said on Sept. 2 that it had completed the regulatory alignment needed to bring MSB USA and 43 state money transmitter licenses under the financial infrastructure provider’s corporate umbrella. Summary OpenPayd integrated MSB USA, bringing 43 state money transmitter licenses under its corporate group umbrella. MSB USA remains a nonbank money services business and will continue operating during platform integration. OpenPayd reported annual recurring revenue exceeding $96 million and annualized volume above $300 billion globally. Proposed Titan merger values OpenPayd at up to $1.145 billion and currently targets fourth-quarter completion. Nasdaq listing remains subject to shareholder approval, closing conditions, minimum proceeds and exchange acceptance requirements. The integration gives London based OpenPayd a regulated route into much of the U.S. payments market. The company plans to use the licenses to support global business clients seeking to send or receive payments in the country. MSB USA will continue operating under its existing leadership while preparing for full integration with the OpenPayd platform. OpenPayd did not disclose the acquisition price, payment struc...