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Alchemy Pay Expands Compliance in the U.S. with Four New State Licenses

Each license marks a milestone toward easier access to cryptocurrencies in the U.S.

Licensing process takes up to a year

Cryptocurrency payment gateway Alchemy Pay has expanded its compliance in the United States by securing new licenses in four states.

Alchemy Pay has secured money transmission licenses (MTLs) for Minnesota, Oklahoma, Oregon, and Wyoming, the company told Cointelegraph on Nov. 8.

The new licenses bring Alchemy Pay’s total licenses to eight U.S. states, according to data from the Nationwide Multi-State Licensing System and Registry.

The latest licenses follow previous approvals in Arkansas in September 2023, Iowa in November 2023, as well as New Hampshire and New Mexico.

Each License Marks a Milestone for Easier Access to Cryptocurrency in the U.S.

With the four additional licenses, Alchemy Pay can expand its cryptocurrency services to residents and businesses in the newly licensed regions.

Alchemy Pay can now offer its in-and-out services to users in all eight licensed states, allowing them to seamlessly transact between the U.S. dollar and cryptocurrencies like Bitcoin (BTC).

Alchemy Pay Licenses in Eight U.S. States. Source: Nationwide Multi-State Licensing System and Registry

“We are currently focused on building a solid and compliant foundation in each licensed region,” said an Alchemy Pay spokesperson.

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Alchemy Pay Secures Four New US State Licenses to Boost Reach Out

Alchemy Pay can provide its cryptocurrency services to individuals and businesses in these regions.

With these additional licenses, Alchemy Pay now has a total of eight licenses in the US.

Alchemy Pay, a cryptocurrency payment gateway, has increased its compliance in the US with four additional licenses. On November 8, Alchemy Pay confirmed that it has obtained money transmission licenses (MTLs) in the states of Wyoming, Oregon, Oklahoma, and Minnesota.

Data from the Nationwide Multistate Licensing and Registration System shows that with these additional licenses, Alchemy Pay now has a total of eight licenses in US states. These licenses are the most recent; others were approved in September 2023 in Arkansas, November 2023 in Iowa, and in New Hampshire and New Mexico. Now that they have four more licenses, Alchemy Pay can provide their cryptocurrency services to individuals and businesses in these areas.

Capitalizing on Tremendous Potential

In addition, these eight states have authorized Alchemy Pay to provide their on-ramp and off-ramp services, allowing consumers to easily convert US dollars into cryptocurrencies like Bitcoin. To ensure compliance with state standards, Alchemy Pay has been rolling out services progressively with each new license, starting with crypto on-ramps and off-ramps.

With Alchemy Pay, you can purchase virtual and physical cards for quick cryptocurrency spending anywhere in the world. They also have an on-ramp solution. Merchants can now accept cryptocurrency payments with Alchemy Pay’s cryptocurrency payment solution.

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