CORNELIUS, N.C., June 09, 2026 (GLOBE NEWSWIRE) -- Alpha Modus Holdings, Inc. ("Alpha Modus") (NASDAQ: AMOD) today announced regulatory clearance for Alpha Cash to enable check deposit in both Kentucky and Pennsylvania, advancing the state-by-state rollout of the company’s mobile financial services platform. The back-to-back clearances mark a significant acceleration in the compliance buildout and expand Alpha Cash’s addressable footprint to consumers across two states who have historically had limited access to check cashing services.
“The licensing requirements, the banking partnerships, the compliance infrastructure across state lines: it’s a high bar to clear. Kentucky’s and…”Kentucky’s clearance was issued under the authorized delegate framework administered through the Nationwide Multistate Licensing System (NMLS), confirming that Alpha Modus Financial Services, LLC may conduct check deposits in the Commonwealth through its partner relationship with Barri Money Services, LLC. Pennsylvania’s clearance followed the same structure, with the PA Department of Banking and Securities confirming compliance.
“Getting check deposit right is harder than people realize,” said Chris Chumas, Chief Strategy Officer of Alpha Modus Holdings, Inc. “The licensing requirements, the banking partnerships, the compliance infrastructure across state lines: it’s a high bar to clear. Kentucky’s and Pennsylvania’s regulatory clearances confirm that we’ve built a model that works and can be replicated. For consumers in these states who’ve had limited options to deposit a check without a traditional bank account, this is a real change.”
Alpha Cash is currently live in the Apple App Store and Google Play with functionalities including:
- In-person cash loading
- Free Peer to Peer transfers
- Reloadable prepaid debit card access
- Gift card purchases
- Ticket and event purchases
- Mobile Top-Up
- Check Deposit (state-by-state)
The company intends to continue filing for authorization in additional states, with each clearance expanding the addressable footprint for check deposit functionality.
Together, Kentucky and Pennsylvania represent a combined market of more than 19 million people across approximately 7.2 million households. Applying FDIC 2023 national benchmarks, an estimated 302,000 households across both states are unbanked and an additional one million are underbanked, relying on nonbank services to meet core financial needs, a combined addressable market of approximately 1.3 million households for Alpha Cash. In Kentucky, a poverty rate of 16.4 percent compounds the need: access to affordable, branch-free check deposit is a practical necessity for hundreds of thousands of working families. Pennsylvania’s 12 percent poverty rate tells a similar story, concentrated in Philadelphia, Erie, and the state’s rural corridors.
About Alpha Modus Holdings, Inc.
Alpha Modus Holdings, Inc. ("Alpha Modus" or the "Company") (NASDAQ: AMOD) is a vertical AI company focused on real-time, in-store shopper engagement and attribution. Its patented “closed-loop” retail AI framework, Sense → Decide → Deliver → Attribute, enables brands and retailers to measure the full impact of digital content, physical interactions, and transaction outcomes. Through subsidiaries like Alpha Modus Financial Services, the company is actively deploying technologies that merge artificial intelligence, retail media, and financial access across the physical retail landscape.
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Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Alpha Modus’s actual results may differ from their expectations, estimates, and projections, and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. These forward-looking statements include, without limitation, Alpha Modus’s expectations with respect to future performance.
Alpha Modus Holdings, Inc. (“Alpha Modus”) cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Alpha Modus does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Relations
Alpha Modus Holdings, Inc.
Email: [email protected]
Website: www.alphamodus.com
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