Alchemy Pay Expands U.S. Operations with New Money Transmitter Licenses

Alchemy Pay Bolsters Regulatory Presence in the U.S.

Alchemy Pay, a leading provider of fiat-to-crypto payment solutions, has recently announced an important addition to its operational capacity in the U.S. market. The company has obtained four additional Money Transmitter Licenses (MTLs), which now extends its licensing to cover states including Kansas, West Virginia, South Dakota, and Nebraska. This strategic move underscores Alchemy Pay's commitment to robust regulatory compliance and to expanding its market reach across crucial jurisdictions in the United States.

The new licenses empower Alchemy Pay to engage in regulated money transmission activities, which involves the exchange and transfer of both fiat currencies and digital assets. This not only augments the trust surrounding its operations among users and institutional partners but also aligns with the company's mission to provide compliant fiat-to-crypto and crypto-to-fiat payment services.

With these latest additions, Alchemy Pay now holds active Money Transmitter Licenses in a total of 14 states across the U.S. These states include Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, South Carolina, and the newly added Kansas, West Virginia, South Dakota, and Nebraska. As part of its ongoing expansion efforts, Alchemy Pay has various licensing applications currently pending in additional jurisdictions, which will further solidify its regulatory framework.

The acquisition of these licenses is a critical component of Alchemy Pay's broader strategy to diversify its service offerings in the evolving landscape of digital payments. In addition to supporting its core payment services, the MTLs enable the company to introduce innovative platforms like the Real-World Asset (RWA) platform. This system stands out as the first solution that allows users to purchase tokenized stocks using fiat currencies and popular payment methods. The RWA platform reflects Alchemy Pay's aim to democratize access to traditional financial instruments while reducing barriers for everyday users.

In tandem with the ongoing development of its services, Alchemy Pay is actively working on launching its own stablecoin and developing the Alchemy Chain, a Layer 1 blockchain focused on stablecoin operations. This blockchain is designed to create a comprehensive payment ecosystem, with a testnet expected to launch soon, signifying a leap forward in its technological capabilities.

Additionally, Alchemy Pay's commitment to regulatory compliance is not limited to U.S. territories. Throughout the last year, the company has achieved several important milestones on a global scale. Among these are gaining Digital Currency Exchange Provider (DCEP) registration in Australia and Electronic Financial Business registration in South Korea. Furthermore, Alchemy Pay has also been recognized as a Self-Regulatory Organisation (SRO) in Switzerland, and has obtained pivotal licenses through strategic partnerships in Hong Kong.

These accomplishments underscore Alchemy Pay's pursuit of regulatory excellence, reinforcing its position as a reliable player in the global payment landscape. The company is determined to create a compliant infrastructure that bridges the gap between traditional finance and the burgeoning digital economy, setting the stage for smooth transitions and enhanced user experiences.

Founded in 2017, Alchemy Pay has earned recognition for its innovative payment gateway solutions that facilitate seamless connections between cryptocurrencies and fiat currencies. Its offerings, which include On/Off-Ramp services, a Web3 Digital Bank, NFT Checkout, and the newly launched RWA platform, cater to various stakeholders, including businesses, developers, and end-users. Enjoying a global footprint, Alchemy Pay supports fiat transactions in 173 countries, indicative of its ambitious vision for the future of payments. The company continues to pave the way for advancements in both traditional and digital financial arenas, making significant strides towards shaping the future of money transactions.