Alchemy

Cryptocurrency

United

Alchemy Pay

MN Coin

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 Alchemy Pay has joined the ranks of crypto firms like Coinbase and Jack Dorsey’s Block in securing the Money Transmitter License in Arkansas. 
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<div class="cointelegraph"> 
 Cryptocurrency <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> gateway Alchemy Pay is expanding its global presence after securing a major <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> in the United States. 
 Alchemy Pay has obtained a Money Transmitter License in the state of Arkansas, the firm announced to Cointelegraph on Sept. 20. 
 Granted by the Arkansas Securities Department, the <a rel="noopener noreferrer nofollow" title="license" href="https://thebittimes.com/tag/license.html">license</a> officially enables Alchemy Pay to operate services like selling or issuing <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> instruments, stored value, prepaid access, as well as receiving <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a>, virtual currency, or monetary value for transmission. 
 In receiving the Money Transmitter License, Alchemy Pay joins the ranks of many cryptocurrency firms that are authorized to provide crypto-to-fiat transactions in Arkansas, including Coinbase, Jack Dorsey’s Block, MoonPay, bitFlyer exchange and others. 
 The license marks a significant milestone in Alchemy Pay’s efforts to secure local regulatory approvals in crucial global markets. The firm has also previously obtained licenses in its operating markets like Indonesia and Lithuania. 
 According to the announcement, Alchemy Pay is currently in the process of obtaining Money Transmitter Licenses in other states across the United States. 
 Related: PayPal rolls out PYUSD stablecoin to Venmo users 
 “With a strong dedication to compliance, our team had invested substantial time and effort into securing licenses across various countries and regions,” Alchemy Pay’s ecosystem lead Robert McCraken said, adding: 
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 “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." 
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 Founded in 2018 in Singapore, Alchemy Pay operates a crypto-to-fiat <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a> platform allowing transactions between fiat currencies like the U.S. dollar or euro and cryptocurrencies like Bitcoin (BTC) or Ether (ETH). According to the Alchemy Pay website, the platform supports <a rel="noopener noreferrer nofollow" title="payment" href="https://thebittimes.com/tag/payment.html">payment</a>s in 173 countries at the time of writing, including jurisdictions and regions Australia, Canada, Hong Kong, the United Arab Emirates, India and others. 
 The news comes shortly after Alchemy Pay became one of the compliant service providers within the Site Data Protection program by the global payment giant Mastercard in June 2023. Previously, Alchemy Pay ​​was officially listed as an official service provider by Visa in January 2023. 
 Magazine: Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say? 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-payment-firm-alchemy-pay-wins-money-transmitter-license-in-us-tbt63490.html">https://thebittimes.com/crypto-payment-firm-alchemy-pay-wins-money-transmitter-license-in-us-tbt63490.html</a>

Crypto payment firm Alchemy Pay wins money transmitter license in US

TheBitTimes

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