Haru Invest Acquires Money Service Business License from U.S. FinCEN
Posted On August 24, 2022
MSB license enables the digital asset management platform to carry out operations as a money transmitter service and expand its scope of service in the U.S. amidst global compliance push
SINGAPORE, Aug. 24, 2022 /PRNewswire/ — Haru Invest, a leading digital asset management platform, today announced that Haruus LLC, its U.S. incorporated subsidiary, has acquired a Money Service Business (MSB) license, a financial service license supervised and granted by the U.S. Financial Crimes Enforcement Network (U.S. FinCEN) mandatory for any digital asset-related service providers to conduct their businesses in compliance with U.S. regulations. As an official MSB across all 50 U.S. states, Haru Invest is now approved to carry out operations as a money transmitter service — including digital assets such as cryptocurrencies — and expand its scope of service in the country.
“Obtaining our MSB license in the U.S. is another key step in our top-line mission to provide stable, safe and compliant crypto investment opportunities for everyone, everywhere,” said Hugo Lee, CEO of Haru Invest. “Doing business within the ambit of this regulatory framework within the massive U.S. market will afford more transparency and protections for not only our clients, also our business itself.”
Haru Invest’s MSB license follows the global asset management platform’s ongoing process of obtaining applicable licenses in global jurisdictions, creating a foundation of integrity, trust and compliance with customers and regulatory agencies across the world. Launched in 2019, Haru Invest offers crypto deposit services and crypto investment products with some of the highest earn rates in the industry, up to 14.2% on crypto.
The centralized finance (CeFi) company’s strong in-house digital asset management team employs high-frequency algorithmic trading strategies that take advantage of market inefficiencies and gaps to generate profits. Haru Invest has members across over 140 countries and has processed over $2 billion in total transaction volume with zero security breaches, late withdrawals or missed earnings payouts. Haru Invest recently introduced Haru Freeze Marketplace, a new feature that allows users to liquidate products before the end of the lockup period to provide immediate access to locked-up assets.
About Haru Invest
Haru Invest, a subsidiary of Block Crafters, is a successful CeFi digital asset investment platform that built a secure bridge between crypto investment services and traditional finance, with $2 billion in total transaction volume. Haru Invest supports three crypto assets, Bitcoin, Ether, and Tether with a tier of investment strategies, Earn Plus, and Earn Explore. The Haru Invest team has over five years’ experience in diverse strategies of crypto fund management, based on a trading model that takes advantage of market inefficiencies to generate stable profits. With users in over 140 countries, they are committed to educating and guiding crypto owners at all levels to achieve stable and profitable digital asset investment goals.