In an exciting development, the crypto payment gateway Alchemy Pay secured the Money Transmitter License in the United States on September 20.
The license will allow Alchemy to expand its offering in the country, including selling or issuing payment instruments, stored value, and prepaid access, as well as receiving money, digital currency, or monetary value for transmission.
Robert McCraken, the lead of Alchemy Pay, said in the announcement, “The company now prepares to expand its presence, aims to expand its services to users in the United States, and further contribute to our mission, bridging the fiat and crypto global economies.“
The license granted by the Arkansas Securities Department places Alchemy Pay with big names in the crypto space, like Coinbase, MoonPay, Block, and others, who are already providing crypto-to-fiat transactions in Arkansas.
The Money Transmitter License will help the payment gateway stay in line with regulatory compliance amid the blurry picture of crypto regulations in the country. The platform is also striving to pursue a Money Transmitter license in other states of the U.S.
While facilitating crypto-to-fiat payments in 173 countries, Alchemy Pay has already obtained an adequate license in countries like Indonesia and Lithuania.
Robert said, “With a strong dedication to compliance, our team had invested substantial time and effort into securing licenses across various countries and regions.”
Also Read: Alchemy Pay Expands Globally with Checkout.com Partnership
