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The unfortunate failure of one such money transmitter, West Realm Shires Services Inc., may be the final straw in this rickety arrangement. West Realm Shires Services is the official name of FTX US, a large cash exchange that serves approximately 1 million Americans. On its website, FTX US lists the 40 money transfer licenses have been awarded to it. For states where it does not have a license, such as California, FTX US presumably uses a license rental agreement, whereby it contracts with a third party to mount a shotgun under its licenses.



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