Alchemy Pay, a fiat-crypto payment solutions provider, has just received approval to operate in Arizona. The Arizona Department of Insurance and Financial Institutions issued it a Money Transmitter License (MTL).
As per the announcement, Alchemy Pay can now legally offer its services in nine U.S. states, including Arizona, Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, and Wyoming. The company is working on getting licenses in even more states.
This move comes as the U.S. government, especially under the Donald Trump administration, becomes more supportive of cryptocurrencies. Initiatives like the Strategic Bitcoin Reserve and the White House Crypto Summit show this new attitude.
Due to Arizona’s license, Alchemy Pay can help people to move money between crypto and traditional currencies more safely and legally. This strengthens its reputation as a trusted payment provider.
Ailona Tsik, the company’s CMO, noted that this achievement demonstrates Alchemy Pay’s dedication to regulatory compliance and user protection. While the cryptocurrency industry grows, regulatory compliance remains a top responsibility. “We want users to be sure that they’re on a safe and legal platform,” she said.
Alchemy Pay was founded in 2017 and has grown significantly. In 2024, it had 3 million users and conducted 8 million transactions, three times the previous year’s total.
Alchemy Pay also has licenses and registrations in other countries outside the U.S., such as the UK, Switzerland, South Korea, Australia, and Canada. These endorsements indicate that Alchemy Pay takes local laws seriously wherever it has a presence.
The company says it will keep working to get more approvals around the world to continue offering safe and legal crypto services.
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