Cregis said in an October 20 release it has entered the U.S. market with a Brooklyn, New York office, extending its enterprise wallet, payment and custody infrastructure business into the country while exhibiting at Money20/20 USA in Las Vegas. The announcement establishes where the Hong Kong-based company will base its U.S. sales and partnership effort. It does not, however, establish that U.S. enterprises have already adopted the platform: the release names no U.S. clients, no U.S. revenue, and no state-level approval.
Founded in 2017 and headquartered in Hong Kong, Cregis provides wallet-as-a-service, fund flow orchestration and custody infrastructure. Its operating claims are large: more than 4,000 businesses across over 50 countries and regions, and cumulative transaction volume above $300 billion. Those are company-reported figures tied to its global book, not an independent measure of U.S. demand.
What the Brooklyn office actually changes
The Brooklyn office gives Cregis a local base to meet U.S. financial institutions, payment service providers and fintech companies. The platform has three components: MPC-based wallet technology for authorization and access controls, a Payment Engine for collections, payouts and settlement, and governance features such as approval workflows and audit trails. For a payment provider, that could mean routing digital asset collections into settlement while restricting which employees can approve large movements.
The compliance picture is more limited. Cregis says it holds a Hong Kong Trust or Company Service Provider licence, is registered with FinCEN, and has SOC 2 Type I, SOC 2 Type II and ISO 27001 certifications. A FinCEN registration is a federal money-services registration, not a substitute for state money transmitter licences or a New York trust charter. The release names no U.S. state licences or banking partners.
The product design points to where Cregis expects its early U.S. conversations to land. A payment service provider that already handles commercial payouts could use the Payment Engine to turn approved fiat instructions into stablecoin transfers while keeping an audit trail. A forex broker could use wallet-as-a-service to segregate client digital assets without building custody internally. These are efficiency plays for firms already handling cross-border flows, not new end-user products. The release does not specify whether Cregis will act as a qualified custodian, partner with a U.S. custodian, or serve mainly as the software layer for existing licensed institutions.
Stablecoin growth does not automatically create business demand
Market size and business adoption are moving at different speeds. Cregis’s release cites Federal Reserve data putting stablecoin capitalization near $317 billion in April 2026, up more than 50% from early 2025. It contrasts that with a September 2026 Cleveland Fed survey of 148 businesses in the district, where only eight reported using or planning to use stablecoins. The surveyed companies pointed to limited demand and comfort with existing payment methods.
That gap matters for Cregis’s integration pitch. CEO Shawn Yan says businesses should not have to build an entirely separate function to manage digital assets. But if a potential customer is satisfied with existing payment rails, lower-cost digital asset infrastructure may solve an operational problem the business does not believe it has. That is the limiting condition in the company’s own selected data.
The company’s Middle East playbook offers a comparison. Cregis opened Dubai as its regional hub in 2024 and says it developed roughly 200 long-term enterprise clients with active deployments over the following two years, more than half from foreign exchange and other traditional financial businesses. That shows demand can come from outside crypto-native firms. It does not prove the same demand exists in the United States, where licensing and banking integration differ.
What U.S. entry still has to prove
Market entry for digital asset infrastructure is not a single approval. U.S. providers generally face state-by-state money transmitter requirements, and New York has its own trust framework. Cregis’s FinCEN registration covers federal money-services registration, but it is not a national custody license. A Brooklyn office accelerates direct conversations; it does not remove those state-level requirements.
The next verifiable signal for a U.S. buyer is therefore not another conference appearance. It is a named U.S. enterprise customer, a disclosed state money transmitter licence, a New York trust charter, or a U.S. bank settlement partner. Until those appear, the Brooklyn office is best read as a sales commitment, not evidence that U.S. enterprises have adopted Cregis infrastructure.
