Sweden-based mobile-wallet provider Seamless and Dwolla announced they have reached an agreement to enable person-to-person funds transfers in the U.S. via Seamless' SEQR product, according to a press release.

The companies expect to launch the system in the first quarter of 2016. 

"Money transfers between private individuals is a very popular service in the U.S. Under the agreement with Dwolla, we can quickly offer SEQR's U.S. customers a peer-to-peer service which is something our customers in Europe already make great use of," Peter Fredell, Seamless CEO, said in a statement. "Peer-to-peer is growing rapidly in the U.S."

Seamless said in the announcement that it continues to secure the proper money transmitter licenses it needs to operate in all 50 states. Companies must acquire such a license in each individual state.