- Crypto payment network Alchemy Pay is expanding its global presence after securing a significant payment license in the United States.
- This license represents a crucial milestone in Alchemy Pay’s efforts to secure local regulatory approvals in key global markets.
- Alchemy Pay operates a crypto-to-fiat payment platform that allows transactions between cryptocurrencies like Bitcoin or Ethereum and fiat currencies like the US dollar or euro.
Crypto payment network Alchemy Pay has announced that it has obtained a money transfer license in the United States, paving the way for the company to expand its presence in the United States!
Alchemy Pay Earns a License in the United States
Crypto payment network Alchemy Pay is expanding its global presence after securing a significant payment license in the United States. According to an announcement made to COINOTAG on September 20, Alchemy Pay has obtained a Money Transfer License in the state of Arkansas.
This license, granted by the Arkansas Securities Department, officially allows Alchemy Pay to offer services such as selling or issuing payment instruments, storing value, providing prepaid access, and receiving virtual currency or monetary value for transmission.
By obtaining the Money Transfer License, Alchemy Pay joins the ranks of many other crypto companies in Arkansas that have the authority to offer crypto-to-fiat transactions, including Coinbase, Jack Dorsey’s Block, MoonPay, and the bitFlyer exchange.
This license marks a significant milestone in Alchemy Pay’s efforts to secure local regulatory approvals in critical global markets. The company has previously obtained licenses in operational markets such as Indonesia and Lithuania.
According to the announcement, Alchemy Pay is currently in the process of obtaining Money Transfer Licenses in other states across the United States.
“With a strong commitment to compliance, our team has spent significant time and effort securing licenses in different countries and regions,” said Robert McCraken, the ecosystem leader of Alchemy Pay. He added, “The company is now preparing to expand its presence, aiming to serve users in the United States and further contribute to our mission of uniting fiat and crypto global economies.”
More About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay operates a crypto-to-fiat payment platform that allows transactions between cryptocurrencies like Bitcoin or Ethereum and fiat currencies like the US dollar or euro. According to the Alchemy Pay website, the platform currently offers payment support in 173 countries, including regions such as Australia, Canada, Hong Kong, the United Arab Emirates, India, and more.
This news comes shortly after Alchemy Pay became one of the compliant service providers within Mastercard’s Site Data Protection program in June 2023. Previously, in January 2023, Alchemy Pay was officially listed as a service provider by Visa.
