Alchemy Pay secures four new state licenses in the US
Cryptocurrency payment gateway Alchemy Pay announced that it has expanded its compliance in the United States by obtaining new licenses in four states.
On November 8, Alchemy Pay announced in a press release that it had obtained money transmitter licenses (MTLs) for Minnesota, Oregon, Oklahoma, and Wyoming.
🇺🇸4 more state licenses in our pocket! #AlchemyPay now holds MTLs in Minnesota, Oklahoma, Oregon, and Wyoming—bringing our total to 8 U.S. state licenses and expanding access to secure crypto-fiat solutions to more users.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) November 8, 2024
Onward as we expand compliance and trust across the… pic.twitter.com/51mrWJPimD
After being approved in Arkansas, Iowa, New Hampshire, and New Mexico, Alchemy Pay now has eight state licenses in the United States. Alchemy Pay was able to obtain an Authorized Payment Institution License in the UK and a Money Transmitter License in New Hampshire in 2024.
Alchemy Pay now available in Minnesota, Oregon, Oklahoma, and Wyoming
With these four additional licenses, Alchemy Pay can now offer its regulated individuals and businesses secure cryptocurrency services in these states, increasing accessibility for users wishing to use its on- and off-ramp service to easily transact between fiat and cryptocurrencies. Alchemy Pay also provides both physical and virtual cards for instant cryptocurrency spending worldwide in addition to the ramp solution. With the help of Alchemy Pay's crypto payment solution, it allows retailers to accept cryptocurrency payments.
Romeo Luo, Chief Revenue Officer at Alchemy Pay, said the company's mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralized crypto economy.
Alchemy Pay's commitment to establishing high standards for compliant growth in Web3—a market currently viewed as particularly promising given the recent pro-crypto sentiment in the U.S. market—is in line with this development.
Alchemy Pay's compliance approach
The company has already earned the trust of more than a million registered users worldwide, processed millions of transactions annually, and is accepted as an authorized third-party service provider by major payment companies Visa and Mastercard.
By prioritizing compliance, Alchemy Pay ensures that its services meet government requirements, building confidence with its partners and users. Alchemy Pay's registration as a Money Services Business (MSB) in Canada is another indication of its dedication to global compliance.
Alchemy Pay's expanding regulatory network puts it in a position to enable Web3 projects, exchanges, and wallets throughout the United States to confidently grow their businesses and promote the adoption of cryptocurrencies.
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