Alchemy Pay Secures 10th U.S. State License, Expands Fintech Services

Alchemy Pay has expanded its regulatory footprint in the United States by securing a Money Transmitter License (MTL) in South Carolina. This latest approval brings the total number of U.S. states where Alchemy Pay holds MTL licenses to ten, including key jurisdictions such as Oregon, Iowa, and Arizona. The South Carolina MTL enables Alchemy Pay to offer a comprehensive suite of financial services within the state, including money transmission, foreign currency exchange, stored value services, and payment processing. These services are now fully compliant with South Carolina's regulatory framework, particularly under the South Carolina Anti-Money Laundering Act, and are overseen by the state’s Attorney General.

This regulatory milestone positions Alchemy Pay to provide fiat-crypto on-ramps and off-ramps to users, facilitating seamless integration between traditional finance and the evolving Web3 space. The company's strategic expansion into regulated fiat-crypto services aligns with the broader U.S. efforts to formalize digital asset oversight, as evidenced by the recent passage of the GENIUS Act by the U.S. Senate. This legislative measure aims to enhance digital asset regulation, creating a more favorable environment for compliance-focused firms like Alchemy Pay.

Looking ahead, Alchemy Pay plans to launch a fiat-accessible real-world asset (RWA) platform in August. This platform will feature 60 tokenized stocks and ETFs, developed in collaboration with firms such as Backed and xStocks. The tokenized assets are designed to bridge traditional equity instruments with crypto-native infrastructure, offering users new investment opportunities within a regulated framework. The regulatory groundwork laid by Alchemy Pay's MTL licenses is expected to support this rollout, providing legal assurance to users and facilitating fiat entry points into tokenized finance.

Alchemy Pay's global licensing strategy extends beyond the United States, with the company holding licenses in several key markets. It is registered with AUSTRAC in Australia, VQF in Switzerland, and as a Money Services Business in Canada. Additionally, Alchemy Pay maintains authorization in the United Kingdom and has filed for compliance under Europe’s MiCA framework. The company is also pursuing regulatory pathways in other regions, including South Korea, to prepare its infrastructure for broader global use. This comprehensive approach to regulatory compliance underscores Alchemy Pay's commitment to expanding its services while adhering to local legal requirements.