Singaporean crypto payments solutions provider Alchemy Pay has registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.
This move will allow the company to offer fiat-to-crypto payment services within the Australian market, adhering to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
Go deeper with GlobalData
With this approval, Alchemy Pay can build local payment facilitator relationships in Australia, aiming to improve crypto exchange services for local users.
Alchemy Pay CMO Ailona Tsik said: “Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralised crypto economy. We’re excited to bring our services directly to Australian users, committing to regulatory engagement for legal compliance, stakeholder trust-building, and effective risk management in Australia.”
The latest registration is part of the company’s aim to secure 20 regulatory licences globally.
According to the company, this strengthens its regional presence and puts it on par with other industry players, such as Kraken, operating under the same regulatory framework.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMeeting these regulatory standards is expected to open new opportunities for service expansion, linking Australian users to the global crypto economy.
The company has registered as a Money Services Business with FINTRAC in Canada and has expanded its North American operations with eight Money Transmitter Licences (MTLs) across the US.
These include licences in Minnesota, Oklahoma, Oregon, and Wyoming, adding to previous acquisitions in Arkansas, Iowa, New Hampshire, and New Mexico.
Globally, Alchemy Pay is actively pursuing licences in Hong Kong, South Korea, Singapore, and Europe.
This follows the integration of its On & Off-Ramp support with crypto exchange CoinEx.
CoinEx users can easily purchase and sell cryptocurrencies using local fiat payment methods, supported by Alchemy Pay.
