The move aligns with the company’s strategy to simplify transactions between fiat and cryptocurrencies. Credit: Suri_Studio/Shutterstock.

Crypto payment gateway Alchemy Pay has received four new US Money Transmitter Licenses (MTLs) in Minnesota, Oklahoma, Oregon, and Wyoming.

This move brings the total number of US state licences held by the company to eight. It is in line with the company’s strategy to facilitate easy transactions between fiat and cryptocurrencies.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The company’s compliance-first approach ensures that its services adhere to the regulatory frameworks of each state.

Alchemy Pay’s expanding regulatory network positions the company to support Web3 projects, exchanges, and wallets throughout the US.

The acquisition of these MTLs enables to create a secure, accessible, and scalable crypto payment ecosystem that operates successfully in both the US and international markets.

Alchemy Pay is already serving over one million registered users worldwide and processes millions in transactions annually.

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.

Company Profile – free sample

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 GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It is also recognised by Visa and Mastercard as an authorised third-party service provider.

Alchemy Pay chief revenue officer Romeo Luo said: “Securing MTL licences in Minnesota, Oklahoma, Oregon, and Wyoming strengthens our foothold in the U.S. market, where the crypto economy is poised for tremendous potential.

“We’re proud to be setting high standards in the evolving Web3 landscape, especially in the U.S., a market with vast opportunities for growth.”

In addition to its US presence, Alchemy Pay is registered as a money services business (MSB) in Canada and is actively pursuing additional licences in key regions such as Hong Kong, Australia, South Korea, Singapore, and Europe.

The company aims to secure 20 new licences globally.

Set up in Singapore in 2017, Alchemy Pay offers a suite of services that bridge the gap between crypto and traditional fiat currencies.

Its products include On and Off Ramp, Crypto Card, Web3 Digital Bank, Crypto Payments, and NFT Checkout, supporting payments in 173 countries.

The company’s Ramp solution provides a comprehensive platform for buying and selling crypto and fiat currencies, while its Crypto Card solution allows businesses and token issuers to offer branded virtual and physical cards for instant global spending.

In August this year, Fintech Unlimit expanded its partnership with Alchemy Pay to boost growth in key markets like the EU, SEA, and LatAm, leveraging Unlimit’s payment method portfolio.