Singapore-based crypto payment platform Alchemy Pay recently announced it has acquired extra Money Transmitter Licences (MTLs) from four U.S. states. The new feat implies that the payment firm has obtained operational licenses from eight states in the North American nation.
The payment outlet relayed the latest development via a press release: "Alchemy Pay, a world-leading fiat-crypto payment solutions provider, is excited to announce that it has secured four additional U.S. Money Transmitter Licenses (MTLs) in Minnesota, Oklahoma, Oregon, and Wyoming." With the recent approvals, Alchemy Pay is en route to attaining significant expansion in the United States and beyond.
For context, the four states that earlier granted the crypto payment outlet operational permit before the most recent licenses include Arkansas, Iowa, New Hampshire, and New Mexico.
Newly Obtained Licenses Implications
Since its inception, Alchemy Pay has sought to develop a link between digital assets and fiat currencies. With such innovation, it hopes to ensure continuous cash inflows across business enterprises. In addition, it aims to attain global cognizance and spread its operating tentacles across nations while improving its services.
On Alchemy Pay's platform, crypto users can comfortably own multi-fiat accounts and transact tokens with instant processing speed to any location via advanced virtual cards offered by the platform's framework. Moreover, local U.S. investors will access special packages like the on and off ramp, crypto payments and NFT checkout, Web 3 digital bank, and digital crypto cards.
The acquisition of these MTL licenses has proven that the firm is keen on transparency, enhancing customers' confidence in the project. Notedly, Alchemy Pay boasts over one million dedicated users. Hence, it has processed transactions, running into millions within and across U.S. borders.
Alchemy Pay Reveals Desire for More License Approvals
Considering the rapidly evolving crypto industry compliance requirements, one could assert that Alchemy Pay has positioned itself in the regulatory framework's good books. The firm envisions a digital ecosystem with highly compliant projects aligned with laid down rules.
With strict regulatory compliance principles, the payment firm believes it will establish opportunities for better adoption and utility. Meanwhile, Alchemy Pay also disclosed its plan to secure additional green cards from South Korea, Hong Kong, Singapore, Europe, and Australia. The target is to hit over 20 registered licenses globally.
