Cryptocurrency payment gateway Alchemy Pay has expanded its global presence after obtaining a major payments license in the United States. With this development, the altcoin project ACH experienced a short-term rise. Here are the details…
Altcoin ACH received a license from the USA
The company announced in a statement that Alchemy Pay received a Money Transmitter License in the state of Arkansas. The license, issued by the Arkansas Department of Securities, officially allows Alchemy Pay to operate services such as selling or issuing payment instruments, stored value, and prepaid access, as well as receiving money, cryptocurrency, or monetary value for transmission. An Alchemy Pay spokesperson said the Arkansas license was issued on September 13 and is the company’s “first” Money Transmitter License in the United States.
By receiving its Money Transmitter License, Alchemy Pay joins many cryptocurrency firms authorized to provide crypto-to-fiat transactions in Arkansas, including Coinbase, Jack Dorsey’s Block, MoonPay, bitFlyer exchange and others. The license marks a significant milestone in Alchemy Pay’s efforts to secure local regulatory approvals in key global markets. The firm is also licensed in operating markets such as Indonesia and Lithuania. According to the announcement, Alchemy Pay is currently in the process of obtaining Money Transmitter Licenses in other states in the United States.
Alchemy Pay’s leader made a statement
“With a strong commitment to compliance, our team has spent significant time and effort securing licenses in a variety of countries and regions,” said Robert McCraken, Alchemy Pay’s ecosystem lead. He also added:
The company is now preparing to expand its presence, aiming to expand its services to users in the United States and further contribute to our mission by bridging the fiat and crypto global economies.
What is Alchemy Pay?
Founded in Singapore in 2018, Alchemy Pay operates a crypto-to-fiat payment platform that allows transactions between fiat currencies such as US dollars or euros and cryptocurrencies such as Bitcoin or ETH. According to the Alchemy Pay website, the platform supports payments in 173 countries, including Australia, Canada, Hong Kong, United Arab Emirates, India and other regions.
This news comes shortly after Alchemy Pay became one of the compliant service providers under the Site Data Protection program by global payments giant Mastercard in June 2023. Previously, Alchemy Pay was listed as an official service provider by Visa in January 2023. With this development, ACH increased by 8.3 percent. The coin rose from $0.014 to $0.0162 in the last 24 hours.
