Alchemy Pay has Secured Money Transmitter License in Arkansas

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Sep 21, 2023, 08:22 ET

SINGAPORE, Sept. 21, 2023 /PRNewswire/ -- Alchemy Pay is delighted to announce the acquisition of the Money Transmitter License in the state of Arkansas, United States. This license, granted by the Arkansas Securities Department, empowers Alchemy Pay to enhance its operations within the United States, signifying the availability of its fully compliant crypto payment services for related-activity in Arkansas.

This newly acquired license can be found at the official website of Nationwide Multistate Licensing System (NMLS), by searching for "Alchemy Pay Inc." or using the NMLS ID "2449570". According to the Department, the acquisition enables the license holder to engage in activities related to the selling or issuance of payment instruments, stored value, prepaid access, as well as the receipt of money and virtual currency to facilitate transactions with others.

This significant accomplishment marks another advancement in Alchemy Pay's continuous endeavors to secure local licenses and regulatory approvals in crucial global markets. Additionally, Alchemy Pay is currently in the application process for obtaining Money Transmitter Licenses in other states across the United States.

Up to this point, Alchemy Pay has successfully obtained the Money Transmitter License within the US, alongside several licenses in pivotal markets where its business operations are conducted, including Indonesia and Lithuania.

Reflecting on this achievement, Robert McCracken, Ecosystem Lead at Alchemy Pay, remarked, "With a strong dedication to compliance, our team had invested substantial time and effort into securing licenses across various countries and regions. We are pleased to see that our endeavors have yielded positive outcomes. Throughout recent years, Alchemy Pay has widely explored these emerging markets, building a robust presence and reputation in these regions, with a notable customer and user base. Leveraging its compliance capabilities, the company now prepares to expand its presence, aims to expand its services to users in the US, and further contribute to our mission, bridging the fiat and crypto global economies."

It has been revealed that Alchemy Pay is actively pursuing the acquisition of an Authorized Payment Institution License in the United Kingdom, as well as seeking a Money Service Operator License and a Virtual Assets Service Provider License in Hong Kong. It's worth noting that Alchemy Pay achieved a significant milestone earlier this year when it gained official recognition from Visa and Mastercard, solidifying its position as an approved third-party service provider endorsed by these esteemed payment platforms.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its On & Off-Ramp solution, NFT Checkout, Crypto Card and Crypto Payments, Alchemy Pay supports payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The NFT Checkout enables direct purchases of NFTs using fiat payment methods. The Crypto Card solution empowers businesses and token issuers to provide users with branded virtual and physical cards for instant global spending. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.

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SOURCE Alchemy Pay