New York, 11 June 2018 – Leading digital money transfer service WorldRemit today announced it has received licenses in all 50 states – enabling customers across the country to use its fast, convenient service.
The company – which specializes in immigrant money transfers, received its first license from Iowa in August 2014 and its 50th from Louisiana in May 2018. The company is one of the first global fintechs to be licensed across all 50 States.
The US has more than 40 million immigrants, and the latest data from the World Bank shows that official remittances sent from the US has increased to $66 billion. The US is WorldRemit’s fastest growing market with transactions growing more than 160% in the past year. The country is set to become the company’s largest send market by the end of 2018 and will account for 40% of global revenue over the next few years.
Ismail Ahmed, founder and CEO of WorldRemit comments: “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 company is also celebrating Immigrant Heritage Month in the US, with a countrywide consumer campaign, highlighting the contribution of immigrants to American society. The campaign has been supported by names such as Joshua Kissi, founder of diverse stock imagery site, Tonl.co and Miriam Morales from Orange is the New Black with many more being unveiled throughout June.
Customers can by participate by sharing the hashtag #WhyWeWork and linking to the campaign site: www.worldremit.com/en/whywework.
WorldRemit handles a growing share of the global $600 billion migrant money transfer market. Its US headquarters are in Denver, Colorado.