Just In: Alchemy Pay Expands US Footprint with Iowa License

Singapore-based Alchemy Pay has taken a significant step in its U.S. expansion strategy by securing a money services license in Iowa. This development marks a pivotal move for the crypto-fiat payment service provider, enhancing its foothold in the American market.

Alchemy Pay’s Acquisition of Iowa License

Alchemy Pay’s latest achievement in Iowa signifies its commitment to adhering to local regulations and expanding its services within the United States. The need for a money services license in Iowa arises for any entity involved in currency exchange or money transmission activities. This move follows their recent success in Arkansas, obtaining a money transmitter license (MTL).

U.S. Compliance and Industry Growth

Robert McCracken, the ecosystem lead at Alchemy Pay, underscored the company’s focus on compliance with the U.S. regulatory framework. He emphasized 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.

Currently operating in 173 countries and offering diverse payment methods like Visa, Mastercard, and regional mobile wallets, Alchemy Pay’s expansion is not limited to the U.S. Moreover, the company is actively working on license applications in other major financial markets, including the United Kingdom and Hong Kong.

As U.S. regulators continue to deliberate over comprehensive regulations for the crypto industry, Alchemy Pay’s proactive approach to compliance places them in a favorable position. This strategy aligns with current regulatory trends and prepares them for future industry standards.

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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.