Alchemy Pay Expands in the U.S. with Iowa License
Singapore-based Alchemy Pay has made significant progress in its U.S. expansion plans by obtaining a money services license in Iowa. This achievement demonstrates Alchemy Pay’s commitment to complying with local regulations and growing its presence in the American market. The license is required for entities involved in currency exchange or money transmission activities, and follows Alchemy Pay’s recent success in Arkansas where they obtained a money transmitter license (MTL).
Emphasizing U.S. Compliance and Industry Growth
Robert McCracken, Alchemy Pay’s ecosystem lead, highlighted the company’s focus on complying with the U.S. regulatory framework. He stressed the importance of a well-structured regulatory environment for the sustainable growth of the fiat-crypto payment industry. McCracken believes that adhering to these regulations, though challenging, is crucial for the long-term success and legitimacy of the crypto payment sector.
Alchemy Pay currently operates in 173 countries and offers various payment methods such as Visa, Mastercard, and regional mobile wallets. Their expansion efforts extend beyond the U.S., as they are actively pursuing license applications in other major financial markets like the United Kingdom and Hong Kong.
By proactively prioritizing compliance, Alchemy Pay positions itself favorably as U.S. regulators work towards comprehensive regulations for the crypto industry. This strategy aligns with current regulatory trends and prepares them for future industry standards.
Hot Take: Alchemy Pay’s Expansion Signals Commitment to Compliance and Market Growth
Singapore-based payment service provider, Alchemy Pay, has secured a money services license in Iowa as part of its U.S. expansion strategy. This milestone showcases their dedication to adhering to local regulations and expanding their foothold in the American market. By obtaining the necessary licenses in Iowa and Arkansas, Alchemy Pay is positioning itself as a compliant player in the crypto-fiat payment industry. With operations in numerous countries and plans to expand further, Alchemy Pay is actively working towards establishing a strong presence in major financial markets worldwide. Their proactive approach to compliance aligns with regulatory trends and sets them up for success in an evolving industry.
By
By
By
By
By
By