Alchemy Pay Breaks Ground with First U.S. Money Transmitter License

Alchemy Pay has announced its successful acquisition of a Money Transmitter License in the United States. The license, granted by the Arkansas Securities Department, marks a significant milestone in Alchemy Pay’s global expansion strategy, enabling the company to operate essential financial services within the state of Arkansas and beyond.

The groundbreaking news, confirmed on September 20, demonstrates Alchemy Pay’s commitment to securing local regulatory approvals in key global markets. The obtained Money Transmitter License in Arkansas allows Alchemy Pay to provide a range of financial services, including selling or issuing payment instruments, stored value and prepaid access, as well as the ability to receive money, digital currency, or monetary value for transmission. This marks a major step forward in the company’s quest to bridge the gap between traditional fiat currencies and cryptocurrencies.

A spokesperson for Alchemy Pay emphasized the significance of this achievement, noting that the Arkansas license, issued on September 13, is the company’s inaugural Money Transmitter License in the United States. This announcement solidifies Alchemy Pay’s status as a formidable player in the cryptocurrency payment gateway sector, as it continues to expand its presence globally.

Founded in 2018 in Singapore, Alchemy Pay has rapidly gained prominence for its crypto-to-fiat payment platform. The platform facilitates seamless transactions between conventional fiat currencies, such as the U.S. dollar and euro, and popular cryptocurrencies like Bitcoin (BTC) and Ether (ETH). At the time of this report, Bitcoin was trading at approximately $26,769, while Ether was priced at around $1,606.

One of the key strengths of Alchemy Pay’s platform is its global accessibility. The company boasts coverage in 173 countries, making it a versatile and widely-used service. Notable jurisdictions and regions where Alchemy Pay operates include Australia, Canada, Hong Kong, the United Arab Emirates, India, and many more. This global footprint positions Alchemy Pay as a frontrunner in the cryptocurrency payment gateway industry, catering to a diverse array of users around the world.

Furthermore, in addition to its successful acquisition of the Arkansas Money Transmitter License, Alchemy Pay is actively pursuing licenses in other states across the United States. This strategic move underscores the company’s ambition to establish a robust presence in the world’s largest economy, thereby furthering the adoption of cryptocurrency payments on a national scale.

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