Cross-border payment service provider LianLian Global has launched a multi-currency cross-border wallet after securing licenses to operate in all 50 states.

According to the firm, its new offering is designed to make payments “faster, accessible and cheaper” for online retailers and merchants in the country who depends on traditional cash and bank transfers to sell their products.

It will enable US businesses to make and receive payments or convert US Dollars to a range of regional currencies compliantly.

LianLian Global executive chairman David Messenger said: “We are delighted to have launched our fully-licensed Cross-Border Wallet in the US and see the positive response from US businesses. This is an evolution of our globally trusted platform that our customers around the world have come to rely on.”

LianLian’s wallet will allow ecommerce customers of all sizes to make payments up to $1.5m at a time. The users will be able to hold multiple currencies, including Canadian Dollar, US Dollar, Hong Kong Dollar, European Euro, British Pound Sterling, Polish Złoty and Chinese Yuan.

“Our new cross-border wallet helps businesses of all sizes grow, by making it easy to manage multiple currencies on a single platform and do foreign exchange (FX) conversion at fair and transparent rates. Our aim is to help our US customers better navigate the complexity of cross-border payments and the volatility of FX,” Messenger added.

LianLian, which has a footprint in 12 countries, is said to help more than 1.2 million ecommerce stores to run their cross-border businesses.

The firm has over 60 licenses globally, with full coverage in all 50 states across the US.