Zero Hash Announces Ability to Operate in 51st US jurisdiction

Zero Hash broadens its regulatory footprint in North America, now able to power access to close to 400 million persons

CHICAGO, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Zero Hash today announced that it has successfully secured a Money Transmission license in Nebraska, in total bringing its ability to operate in 51 US jurisdictions. Zero Hash holds a Money Service Business registration with FinCen, multiple Money Transmission Licenses including in Washington DC and Puerto Rico as well as a BitLicense with the New York Department of Financial Services. Zero Hash is also registered as a Canadian Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada. Collectively, Zero Hash is now able to service close to 400 million North American residents.

Similar to how “Banking as a Service” enables companies to focus on building products, Zero Hash provides the infrastructure to settle digital assets in a completely automated and regulated way. Zero Hash’s client base, that it has publicly announced, includes payment service providers including Moonpay and Banxa, established broker dealers including Tradestation as well as some of the largest OTC groups globally.

“We are pleased that Zero Hash can now power access to close to four-hunded million North American residents. This is testament to our entire Company’s focus on compliance - as we say internally, technology enables good compliance and good compliance enables technology,” said Stephen Gardner, Zero Hash’s Chief Compliance Officer and General Counsel. “Zero Hash converts high fixed costs and multi-year lead times into low variable costs, with accessibility to these new financial assets with a couple of lines of code.”

Key features of Zero Hash include:

  • Identity: Verify users’ identities, with KYC/AML requirements under the BSA and Canadian equivalent.
  • Balance: Verify real-time account balances and deposits across all assets, with ownership validation.
  • Lock: Lock and unlock the withdrawals of assets in real time for committed and exited transactions.
  • Transfer: Transfer the ownership of assets with Zero Hash providing the regulatory framework to serve the entire North American continent. All transfers can be automated with a full screening of assets to ensure compliance and peace of mind.
  • Transactions: Access detailed transaction history with real time transaction updates across 100+ transaction pairs.

About Zero Hash

Zero Hash’s mission is to empower innovators by delivering access to the financial system 2.0. Zero Hash enables developers and businesses to focus on building experiences and products. We power your favorite brokerage app or neo bank to offer BTC, provide the rails to the 2.0 payment processors, give platforms the ability to facilitate instantaneous cross border payments and eliminate complexity for moving assets for the world’s largest liquidity providers.

In the United States, Zero Hash is a FinCen-registered Money Service Business as well as a regulated Money Transmitter in 45 US jurisdictions. With exemptions, this means that Zero Hash is able to service over 99% of the US population, the one exception being Hawaii. Zero Hash also holds a virtual currency license from NYDFS.

Zero Hash was voted Innovator of the Year by the 2019 Profit & Loss Readers Choice Awards.