Alchemy Pay, a cryptocurrency payment gateway, is rapidly expanding its global presence. On September 20, the company announced that it had acquired a Money Transmitter License in the state of Arkansas. This license was granted by the Arkansas Securities Department and allows Alchemy Pay to provide a wide range of financial services, including the sale and issuance of payment instruments, stored value, prepaid access, as well as the transmission of money, virtual currency, and monetary value.
Since its inception in 2018 in Singapore, the Alchemy Pay platform has supported payments in 173 countries, such as Australia, Canada, Hong Kong, United Arab Emirates, and India. In January 2023, the platform earned a recognition as an official service provider by Visa. Mastercard also included Alchemy Pay as one of its compliant service providers within its Site Data Protection program in June 2023.
The news of the license acquisition caused a significant surge in the price of Alchemy Pay (ACH) token. Now, Alchemy Pay is actively pursuing Money Transmitter Licenses in other states of the United States. Robert McCracken, Alchemy Pay’s ecosystem lead, emphasized their commitment to compliance and mentioned the company’s mission of bridging the gap between the fiat and crypto global economies.
