KEY TAKEAWAYS
- Alchemy Pay expands its U.S. presence by acquiring four new Money Transmitter Licenses, bringing its total to eight.
- The company aims to enhance secure and regulated crypto services, aligning with the pro-crypto sentiment in the U.S. market.
- Alchemy Pay’s compliance-first approach fosters trust and positions it as a key player in the evolving Web3 landscape.
- Global expansion plans include pursuing additional licenses in regions like Hong Kong, Australia, and Europe.
Alchemy Pay, a prominent provider of fiat-crypto payment solutions, has announced the acquisition of four additional U.S. Money Transmitter Licenses (MTLs) in Minnesota, Oklahoma, Oregon, and Wyoming. This expansion brings the company’s total to eight U.S. state licenses, following previous approvals in Arkansas, Iowa, New Hampshire, and New Mexico.
With these new licenses, Alchemy Pay aims to enhance its secure and regulated crypto services for residents and businesses in these states. The company is focused on facilitating seamless transactions between fiat and cryptocurrencies through its on and off-ramp services. This development aligns with Alchemy Pay’s commitment to maintaining high standards for compliant growth in the Web3 sector, especially amid the recent pro-crypto sentiment in the U.S. market.
Strengthening U.S. Market Presence
Romeo Luo, Chief Revenue Officer at Alchemy Pay, stated that the acquisition of MTL licenses in Minnesota, Oklahoma, Oregon, and Wyoming strengthens the company’s foothold in the U.S. market. Luo emphasized the potential for growth in the U.S. crypto economy and Alchemy Pay’s role in setting high standards within the evolving Web3 landscape.
Alchemy Pay’s compliance-first approach ensures that its services adhere to each state’s regulatory framework, fostering trust among partners and users. The company, trusted by over one million registered users globally, processes millions in transaction volume annually and is recognized by Visa and Mastercard as an authorized third-party service provider.
Global Compliance and Expansion Plans
In addition to its U.S. licenses, Alchemy Pay is registered as a Money Services Business (MSB) in Canada, reinforcing its commitment to global compliance. The company is actively pursuing additional licenses in key regions, including Hong Kong, Australia, South Korea, Singapore, and Europe, with a goal of securing 20 new licenses globally.
With its expanding regulatory network, Alchemy Pay is positioned to empower Web3 projects, exchanges, and wallets across the U.S. to confidently expand their operations and drive crypto adoption. The acquisition of these MTLs underscores Alchemy Pay’s dedication to creating a secure, accessible, and scalable crypto payment ecosystem in both the U.S. and the global market.
Disclaimer: The views expressed in this article are those of the authors and do not necessarily reflect the official policy of CoinsHolder. Content, including that generated with the help of AI, is for informational purposes only and is not intended as legal, financial, or professional advice. Readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
