Cryptocurrency payment gateway Alchemy Pay has achieved a significant milestone by obtaining a Money Transmitter License in the state of Arkansas, USA. This achievement marks a major step for Alchemy Pay in its quest to expand its global presence and offer seamless crypto-to-fiat payment solutions. The license, granted by the Arkansas Securities Department, positions the gateway alongside other prominent crypto firms like Coinbase and Jack Dorsey’s Block, which are also authorized to facilitate crypto-to-fiat transactions in Arkansas.
Alchemy Pay Expands Regulatory Approval
Alchemy Pay’s Money Transmitter License, issued on September 13, represents the company’s first such license in the United States. This achievement underscores the company’s commitment to compliance and regulatory transparency. With this license, the payment gateway gains the official authorization to provide services such as selling or issuing payment instruments, stored value, and prepaid access, as well as receiving money, digital currency, or monetary value for transmission within the state of Arkansas.
The acquisition of this license is part of Alchemy Pay’s broader strategy to secure local regulatory approvals in key global markets. In addition to its presence in Arkansas, the company has obtained licenses in other operating markets such as Indonesia and Lithuania. The crypto payment gateway is now actively pursuing Money Transmitter Licenses in additional U.S. states, demonstrating its dedication to expanding its services and enhancing accessibility to cryptocurrency-based financial solutions.
Read more: Ripple Acquires Fortress Trust to Expand US Regulatory Licenses
Bridging Fiat and Crypto Economies
Robert McCracken, Alchemy Pay’s ecosystem lead, highlighted the company’s dedication to compliance and its commitment to bridging the gap between traditional fiat currencies and the world of cryptocurrencies. He emphasized that the payment gateway’s mission is to connect the fiat and crypto global economies, enabling users to seamlessly transact between fiat currencies like the U.S. dollar or euro and popular cryptocurrencies like Bitcoin (BTC) and Ether (ETH).
Conclusion
Alchemy Pay’s recent achievement of a Money Transmitter License in Arkansas positions the company as a key player in the evolving landscape of crypto payments in the United States. With a focus on compliance and regulatory adherence, Alchemy Pay is poised to expand its services to users across the U.S. and contribute to the integration of crypto and traditional financial systems.
This development underscores the company’s commitment to providing secure, efficient, and accessible crypto-to-fiat payment solutions, ultimately facilitating broader adoption of cryptocurrencies in global economies. As Alchemy Pay continues to obtain licenses in other U.S. states and worldwide, its presence in the crypto payment industry is set to grow, offering users a seamless bridge between the world of cryptocurrencies and traditional finance.
