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Obtained second payment operator license in the United States
Alchemy Pay, a crypto asset (virtual currency) and cash exchange app, announced on the 23rd that it has obtained a money services license in the US state of Iowa.
This acquisition marks the company’s second license in the United States, following the Money Transmitter License (MTL) in Arkansas. These licenses allow us to provide digital asset exchange services in Iowa and Arkansas.
Through these regulatory licenses, Alchemy Pay is laying the foundation to strengthen its position in the US and international markets and increase its payment capabilities.
The company is also actively applying for licenses in the UK and Hong Kong, and plans to expand into European and Asian markets. Obtaining licenses in these regions demonstrates the company’s intention to comply with local legal requirements and adapt to local regulations.
In the United States, a money services license is an important qualification for companies engaged in payment operations. Only competitive and reliable companies can obtain this license.
Alchemy Pay is operated by a team of experts with extensive experience in the payments and fintech industry. The team focuses on regulatory compliance and has obtained licenses in the United States, Lithuania, Indonesia, and Canada. Robert McCracken, Ecosystem Lead at Alchemy Pay, said:
Obtaining a second money services license in the US underscores Alchemy Pay’s global payments capabilities and dedication to compliance. We continue to obtain licenses in countries and regions around the world to improve user experience and strengthen network coverage.
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About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto assets and traditional fiat currencies for businesses, developers, and end users.
It is also possible to purchase NFTs (non-fungible tokens) directly with cash. We also support efforts to issue proprietary branded virtual and physical cards for businesses and token issuers in partnership with Visa/Mastercard.
Alchemy Pay issues the virtual currency ACH, which is distributed on the Ethereum blockchain. ACH tokens have utilities such as payment of transaction fees on the “Alchemy Pay Network” and discounts on fees.
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