A money transmitter bond may be required in order for a money transmitter to operate in certain states. The bond amount required varies in each state, however, the basis of the bond is the same. You must obtain the required bond at the required amount from a surety insurance company, as a prerequisite to legally conduct business.
Colonial Surety is authorized by the Nationwide Multistate Licensing System & Registry (NMLS) to write electronic money transmitter bonds . If you are not registered with the NMLS, please visit the NMLS website.
Cryptocurrency Money Transmitters – we got you! Colonial offers money transmitter bonds to include those who transmit currency, such as crypto, in all states that require the bond.