Cryptocurrency
payment gateway Alchemy Pay is making strides in its global expansion strategy
following the acquisition of a major payment license in the United States.
The
company has successfully secured a money transmitter license in the state of
Arkansas, as announced by Alchemy Pay on September 20.
This
license, granted by the Arkansas Securities Department, authorizes Alchemy Pay
to offer a range of financial services, including the sale or issuance of
payment instruments, stored value and prepaid access, as well as the receipt of
money, digital currency, or monetary value for transmission.
The
spokesperson for Alchemy Pay noted that this Arkansas license, issued on
September 13, is a historic milestone as it marks the company’s “very
first” money transmitter license in the United States.
By
obtaining the money transmitter license, Alchemy Pay joins the ranks of several
other cryptocurrency firms authorized to facilitate crypto-to-fiat transactions
in Arkansas. These firms include well-known names such as Coinbase, Block
(founded by Jack Dorsey), MoonPay, the bitFlyer exchange, and others.
Alchemy Pay’s Money Transmitter License. Source: NMLS
This
licensing achievement represents a significant step in Alchemy Pay’s ongoing
efforts to secure regulatory approvals in crucial global markets. The company
has also obtained licenses in other operating markets, such as Indonesia and
Lithuania.
“With
a strong dedication to compliance , our team had invested substantial time and
effort into securing licenses across various countries and regions,” Alchemy
Pay’s ecosystem lead Robert McCraken said, adding:
“The
company now prepares to expand its presence, aims to expand its services to
users in the United States, and further contribute to our mission, bridging the
fiat and crypto global economies.”
Alchemy
Pay’s Origin and Crypto-to-Fiat Payment Platform
Founded
in Singapore in 2018, Alchemy Pay operates a crypto-to-fiat payment platform that enables seamless
transactions between fiat currencies like the U.S. dollar or euro and popular cryptocurrencies such as Bitcoin
and Ether.
The
platform is currently available in 173 countries, including regions like
Australia, Canada, Hong Kong, the United Arab Emirates, India, and more.
This
development comes on the heels of Alchemy Pay’s inclusion as one of the
compliant service providers within Mastercard‘s Site Data Protection program in June 2023.
Prior to that, Alchemy Pay received official recognition as a service provider
by Visa in January 2023.
With
its expanding regulatory approvals and strategic partnerships with major
payment giants, Alchemy Pay is well-positioned to further strengthen its
presence in the global cryptocurrency payment landscape, offering
enhanced accessibility and convenience to users seeking to transact between
traditional and digital currencies.
Cryptocurrency
payment gateway Alchemy Pay is making strides in its global expansion strategy
following the acquisition of a major payment license in the United States.
The
company has successfully secured a money transmitter license in the state of
Arkansas, as announced by Alchemy Pay on September 20.
This
license, granted by the Arkansas Securities Department, authorizes Alchemy Pay
to offer a range of financial services, including the sale or issuance of
payment instruments, stored value and prepaid access, as well as the receipt of
money, digital currency, or monetary value for transmission.
The
spokesperson for Alchemy Pay noted that this Arkansas license, issued on
September 13, is a historic milestone as it marks the company’s “very
first” money transmitter license in the United States.
By
obtaining the money transmitter license, Alchemy Pay joins the ranks of several
other cryptocurrency firms authorized to facilitate crypto-to-fiat transactions
in Arkansas. These firms include well-known names such as Coinbase, Block
(founded by Jack Dorsey), MoonPay, the bitFlyer exchange, and others.
Alchemy Pay’s Money Transmitter License. Source: NMLS
This
licensing achievement represents a significant step in Alchemy Pay’s ongoing
efforts to secure regulatory approvals in crucial global markets. The company
has also obtained licenses in other operating markets, such as Indonesia and
Lithuania.
“With
a strong dedication to compliance , our team had invested substantial time and
effort into securing licenses across various countries and regions,” Alchemy
Pay’s ecosystem lead Robert McCraken said, adding:
“The
company now prepares to expand its presence, aims to expand its services to
users in the United States, and further contribute to our mission, bridging the
fiat and crypto global economies.”
Alchemy
Pay’s Origin and Crypto-to-Fiat Payment Platform
Founded
in Singapore in 2018, Alchemy Pay operates a crypto-to-fiat payment platform that enables seamless
transactions between fiat currencies like the U.S. dollar or euro and popular cryptocurrencies such as Bitcoin
and Ether.
The
platform is currently available in 173 countries, including regions like
Australia, Canada, Hong Kong, the United Arab Emirates, India, and more.
This
development comes on the heels of Alchemy Pay’s inclusion as one of the
compliant service providers within Mastercard‘s Site Data Protection program in June 2023.
Prior to that, Alchemy Pay received official recognition as a service provider
by Visa in January 2023.
With
its expanding regulatory approvals and strategic partnerships with major
payment giants, Alchemy Pay is well-positioned to further strengthen its
presence in the global cryptocurrency payment landscape, offering
enhanced accessibility and convenience to users seeking to transact between
traditional and digital currencies.
