KEY TAKEAWAYS
- Alchemy Pay secures a Money Transmitter License in Arizona, enhancing its regulatory compliance in the U.S.
- The company now holds licenses in nine U.S. states, reflecting its commitment to expanding its regulatory footprint.
- Alchemy Pay’s global compliance achievements include licenses in the UK, Switzerland, South Korea, Australia, and Canada.
- This expansion aligns with pro-crypto initiatives in the U.S., supporting Alchemy Pay’s role in bridging traditional finance with the crypto ecosystem.
Alchemy Pay, a leading provider of fiat-crypto payment solutions, has announced that it has successfully obtained a Money Transmitter License (MTL) in Arizona. This license was issued by the Arizona Department of Insurance and Financial Institutions, marking a significant step in Alchemy Pay’s commitment to regulatory compliance and financial security.
With the addition of Arizona, Alchemy Pay now holds Money Transmitter Licenses in nine U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, and Wyoming. The company is actively expanding its regulatory presence, with additional applications under review in multiple jurisdictions.
Regulatory Expansion Amid Pro-Crypto Initiatives
In recent developments, the Trump administration has shown support for digital assets through initiatives like the Strategic Bitcoin Reserve and the White House Crypto Summit. Alchemy Pay’s pursuit of MTLs in more U.S. states aligns with this supportive environment, reflecting its dedication to bridging traditional finance with the evolving crypto ecosystem in the U.S. market.
The Money Transmitter License enables Alchemy Pay to facilitate seamless and secure fiat-to-crypto and crypto-to-fiat transactions for users in Arizona, ensuring full compliance with state financial regulations. This strengthens Alchemy Pay’s ability to provide regulated, secure, and efficient payment services, enhancing its credibility as a trusted global payments provider.
Ailona Tsik, CMO at Alchemy Pay, stated, “This regulatory achievement underscores our unwavering commitment to compliance, security, and financial transparency. As the digital asset industry matures, obtaining the necessary regulatory approvals remains a top priority for us.”
Global Compliance Milestones
Beyond its expanding regulatory presence in the United States, Alchemy Pay has achieved significant compliance milestones globally. These include an Authorised Payment Institution License in the United Kingdom, admission to Swiss VQF as a Self-Regulatory Organisation, Electronic and Financial Business Registration in South Korea, registration as a Digital Currency Exchange Provider under AUSTRAC in Australia, and a Money Service Business registration in Canada. These achievements highlight Alchemy Pay’s dedication to regulatory excellence and its role as a leader in the financial technology sector.
Alchemy Pay remains committed to securing further regulatory approvals worldwide, ensuring its continued ability to offer compliant, secure, and innovative financial solutions across multiple jurisdictions.
For more information, the announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Alchemy Pay’s acquisition of a Money Transmitter License in Arizona marks a crucial step in its regulatory expansion across the United States, enhancing its ability to provide compliant and secure fiat-crypto payment solutions.
A recent report highlights the trend of fiat-crypto payment solutions evolving into global financial hubs. This aligns with Alchemy Pay’s strategic move to expand its regulatory footprint in the U.S., supporting its goal of becoming a major player in the global financial ecosystem.
A report by the Atlantic Council indicates that the U.S. is easing restrictions on crypto asset activities, which supports Alchemy Pay’s efforts to secure more regulatory licenses and expand its services. This regulatory environment facilitates Alchemy Pay’s growth and integration within the U.S. financial market.
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