The purpose of the IBAN is to provide a unique identifier for each bank account across the multitude of financial institutions, making it easier to process international payments accurately and efficiently.
State money transmitter licenses are generally required for businesses that engage in activities related to the transfer of money or monetary value.
E-money, also known as electronic money, digital money, or virtual currency, refers to a form of currency that is stored electronically and can be used for online transactions or as a substitute for physical cash.