Following this announcement, the licence was regulated and issued by the Delaware Office of the State Bank Commissioner, and it is set to allow Navro to operate under full regulatory governance in the state.
In addition, the company is expected to continue to meet the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, the licence is expected to underscore Navro’s focus on operating within robust regulatory frameworks that unlock access to optimised options and capabilities when it comes to building a payments curation service. At the same time, the Delaware approval will focus on the institution’s commitment to achieving licences within robust regulatory guardrails. It also initiates the process of extending Navro’s overall footprint across the region of the US.
Furthermore, the institution will focus on ensuring that the new licences will incorporate optimised compliance and security standards, aiming to provide customers with reliability and trust no matter where they operate. Navro’s payments curation technology addresses the various cross-border payments challenges currently faced by businesses in the US, including the high transaction costs and lengthy timescales associated with SWIFT. By providing access to improved payment services through one platform, one API, and one contract, Navro aims to remove the need for businesses to deal with a complex web of service providers, payment gateways, and local regulatory authorities.
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