Alchemy Pay Enables Direct Fiat Access to Tokenized Stocks, Expands US Regulatory Framework to 11 States

Alchemy Pay has launched a new platform enabling direct fiat purchases of tokenized versions of US equities and ETFs, eliminating the need to first convert fiat into cryptocurrency. The platform, in partnership with Backed, offers fractional ownership in major assets like Apple, Tesla, and the S&P 500 ETF at as little as $1 per investment. This development is part of Alchemy Pay's broader strategy to bridge traditional finance with blockchain technology, supporting global access through 173 countries and 50 fiat options.

The platform's design allows for round-the-clock trading outside traditional market hours, enabling international investors to participate without the need for complex international brokerage accounts. Tokenized assets are fully backed on a 1:1 basis by actual securities and include economic benefits like dividends and corporate actions. This initiative aims to democratize access to US markets and aligns with growing interest in tokenized real-world assets.

Alchemy Pay has also expanded its US regulatory footprint by securing its third Money Transmitter License (MTL) in 2025, this time in Kansas. This brings the company's total of US MTLs to 11, covering states such as Arkansas, Iowa, Minnesota, and Oklahoma. The licenses are crucial for facilitating fiat-to-crypto transactions and supporting the firm's new RWA platform with reliable on-ramps.

Why the Move Happened

The platform's direct fiat access addresses a key barrier to entry for many retail investors. By leveraging its existing fiat infrastructure, Alchemy Pay can now offer a more user-friendly experience, especially for those unfamiliar with cryptocurrency. This shift is part of the broader trend toward tokenization of real-world assets, which is expected to grow significantly in the coming years.

Regulatory compliance has also been a major focus for Alchemy Pay, with the Kansas MTL reinforcing the company's commitment to operating within established legal boundaries. This expansion aligns with the firm's broader goals of building a secure, scalable infrastructure for tokenized assets and future stablecoin initiatives.

How Markets Responded

The expansion and product launch reflect increasing demand for tokenized assets among global investors, particularly in the US and emerging markets. Alchemy Pay's platform is now competing with similar offerings from Kraken and Bybit, indicating growing market adoption of tokenized stocks and ETFs.

The firm's strategy to support fractional ownership and low minimum investments aligns with broader trends in democratizing finance. These include the rise of crypto ETFs and direct access to digital assets via institutional-grade platforms. This shift is expected to drive further innovation and competition in the tokenization space.

What Analysts Are Watching

Analysts are closely monitoring how Alchemy Pay's platform will scale to support a larger user base. The firm has also signaled plans to issue a proprietary stablecoin and develop Alchemy Chain, a dedicated blockchain for stablecoin operations. These moves could position Alchemy Pay as a key infrastructure provider in the growing tokenized asset ecosystem.

Regulatory alignment remains a key watchpoint for the industry, as the U.S. continues to refine its approach to crypto and tokenization. Alchemy Pay's proactive approach to securing MTLs in multiple states could set a precedent for other platforms seeking to operate in the U.S. market.

The company's CEO, Ailona Tsik, emphasized the strategic importance of these developments, noting that they align with Alchemy Pay's long-term goal of building a comprehensive crypto-finance ecosystem. This includes expanding access to tokenized assets and supporting the transition toward a more integrated financial system.