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Alchemy Pay Secures Money Transmitter License in Arkansas, U.S

Alchemy Pay obtains Money Transmitter License in the U.S., uniting fiat and crypto worlds while enhancing its global presence.
Alchemy Pay Secures Money Transmitter License in Arkansas, U.S

The crypto payment gateway Alchemy Pay has showcased its commitment to expanding its global footprint. In a recent development, the firm has now secured a Money Transmitter License in the U.S., underlining its dedication to bridging the gap between traditional fiat and digital crypto economies.

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Alchemy’s Commitment to Regulatory Compliance

The license, granted by the Arkansas Securities Department, now places Alchemy Pay in an esteemed league. Consequently, this group comprises other notable crypto firms, such as Coinbase, MoonPay, and Block, who have already ventured into crypto-to-fiat transactions within Arkansas.

Additionally, this license paves the way for Alchemy Pay to amplify its offerings in the U.S. Besides selling or issuing payment instruments, the gateway is poised to delve into stored value, prepaid access, and the receipt of money, digital currency, or other monetary transmissions.

Alchemy Pay’s dynamic lead, Robert McCracken, succinctly says,

“Our aim is clear. As we prepare to broaden our U.S. presence, we strive to further our mission: seamlessly connecting the fiat and crypto global economies.”

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Global Expansion in Sight

Moreover, this recent move is not an isolated endeavor. Significantly, the firm has also made its mark in other strategic markets, having garnered licenses in regions like Indonesia and Lithuania. Consequently, their initiatives highlight an unwavering commitment to compliance. In addition, McCracken emphasized,

“Our team has shown immense dedication. We’ve invested time and effort to secure licenses across varied global territories.”

Hence, the firm is not resting on its laurels with reports suggesting that the pursuit of Money Transmitter Licenses in other U.S. states is underway. This move is crucial, especially considering the country’s vague nature of crypto regulations.

With its services spanning 173 countries, Alchemy Pay is evidently on an upward trajectory. Moreover, its proactive approach to aligning with regulatory standards, especially in the U.S., indicates its strategic vision.

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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