Alpha Modus Gains North Carolina Approval, Extends Reach to 17M Households Including 3M Unbanked
AMOD•North Carolina regulatory clearance authorizes Alpha Cash check deposit and remittance services via kiosks and mobile app to 4.1 million state households. The approval expands its footprint to seven states encompassing over 17 million households, including 3 million unbanked or underbanked families.
1. North Carolina Regulatory Clearance
Alpha Modus Financial Services, LLC obtained non-objection clearance under the North Carolina Money Transmitters Act to operate as an authorized delegate of Barri Money Services, LLC. The approval enables Alpha Cash to provide check deposit and international money remittance services via physical kiosks and its mobile app to North Carolina residents.
2. Expanded State Footprint
This authorization brings Alpha Cash’s check deposit reach to seven states, covering more than 17 million households nationwide. North Carolina adds roughly 4.1 million households, where an estimated 770,000 are unbanked or rely on nonbank services, contributing to a combined total of 3 million unbanked or underbanked households across the footprint.
3. Growth Plans and Market Impact
Alpha Modus plans to file for additional state authorizations to further expand its financial services footprint. Each new approval will increase the addressable market for Alpha Cash’s check deposit and broader financial services offerings, supporting revenue growth and adoption among underbanked communities.
