On March 13, the Florida Office of Financial Regulation (OFR) issued a final order approving a stipulation and consent agreement with a Delaware-based software company over allegations of unlicensed money transmission activities in the state. The agency found that the company operated as a money transmitter from January 2011 through August 2025 without a license or exemption from the licensing requirement under §§ 560.125 and 560.204(1) of the Florida Statutes. The OFR became aware of the unlicensed activity during its review of a money transmitter license application for the company’s subsidiary, which has been pending with the office since August 2025.

Under the terms of the consent agreement, without admitting or denying the findings, the company agreed to pay an administrative fine of $155,000 and to comply with all requirements of chapter 560 of the Florida Statutes going forward. In return, the OFR agreed to approve the subsidiary’s pending money services business/money transmitter license application within one business day of the final order’s entry.