It’s one of the most common questions we get—and the TLDR is that it depends. Most states could be approved within a year post application submission except some like California and New York which can take up to 2 years or more! But there are some nuances to be aware of.
MTL Timeline Overview: What to Expect
The timing of Money Transmission Licenses (MTLs) varies based on your business model, how well your application is prepared, and when you apply. But after supporting dozens of companies through the process, our team has seen clear patterns emerge.
Some states take 2–3 months. Others are more complex. Most fall somewhere in the middle. Picture a classic bell curve, with the majority of licenses clustering in a mid-range timeline.
3 Smart MTL Licensing Strategies
So how should you approach your MTL rollout? Here are the three most common strategies we see:
1. The MVP-First Path
Start with the “easy” states—those with faster turnarounds—and geo-fence your product to launch in just those states. You get to test in-market and build traction while your broader licensing plan runs in the background.
2. The Hard States First Path
Go after the toughest states first. This is a great move for companies that plan to operate nationally. By tackling the most time-consuming licenses early, you set yourself up to go live in all 50 states at the same time.
3. The Hybrid Approach
A popular middle ground: file in a few hard states (to start the clock) and a few easy ones (to launch something live). You get the best of both worlds—early market entry and long-term scale.
How Brico Helps with MTLs
The good news is that no matter what strategy you take with Brico, you will be making progress towards all 50 states in parallel, without you putting in additional effort due to our unique smart data mapping feature of our platform. Contact us to find out how our platform cuts down on redundant licensing tasks, making your application process up to 5x faster and cheaper than working with a consulting firm or a law firm.
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