money transmitter: One who transmits money from one party to another; such as Western Union, or the U.S. Post Office when it issues money orders. Initially, neither the sponsor nor the issuer, will function as a money transmitter, which is an activity involving three parties. (The sale of the private currency to the buyer is a two party transaction, which does not involve any subsequent monetary redemption.) At such time as the sponsor, or the issuer, elects to engage in monetary transmissions, then the money transmitter licenses will be applied for as deemed appropriate.