USDGLO’s issuer, Brale, holds Money Transmitter Licenses (MTL) in 27 US states and a Virtual Currency Business Activity License in 1 state. MTLs regulate USDGLO as a stored value instrument, like pre-paid cards issued by PayPal. Each state that issues an MTL has its own set of compliance requirements but all commonly require the licensee to (i) hold customer funds only in certain types of low-risk assets and (ii) make available all records and information to the regulator for periodic examination.

That said, stablecoin issuers who are specifically regulated and licensed as an issuer of stablecoin are held to a higher standard of customer protection than money transmitters are.