Alchemy Pay Secures Second Money Services License, Expanding Footprint in the US

Alchemy Pay, the leading fiat-crypto payment gateway, is thrilled to announce that it has successfully obtained its Money Services License in the State of Iowa. This is the company’s second victory in the US. This accomplishment follows closely on the company’s previous September acquisition of an Arkansas Money Transmitter License (MTL). The successive licenses highlight Alchemy Pay’s abilities and represent a major advancement in the company’s efforts to expand its worldwide market reach.

Regulatory Nod from Iowa’s Division of Banking

The State of Iowa’s Division of Banking is the regulatory body that issued this license. Now formally recorded in the Nationwide Multistate Licensing System (NMLS) is the recently obtained license. Anyone interested in finding out more can search for it with the firm name “Alchemy Pay Inc.” or the NMLS ID “2449570.” Any organization or person conducting currency exchange or money transfer business in Iowa is required by law to possess this license.

Alchemy Pay’s licensing efforts have been successful in the last several months, strengthening the company’s position both domestically and internationally. This puts Alchemy Pay in the same elite league as well-known players like Coinbase, MoonPay, and Elon Musk’s X. A strategic objective, the company’s steadfast dedication to worldwide compliance licensing forms the cornerstone for improving its payment capabilities. Notably, Alchemy Pay has already started the application process in a few more U.S. states for MTL licenses; results are anticipated in the upcoming months.

A crucial license for any business managing payments in the United States is the Money Transmitter License. This crucial license provides vital protections for customers and companies that conduct financial transactions by guaranteeing the security and dependability of the payment system. It takes a lot of time and money to get this license, and only businesses who can prove their competitiveness and reliability are granted permission.

As a leading crypto payment entity, Alchemy Pay boasts a seasoned team of experts with extensive experience in payments and fintech. Prioritizing a robust commitment to compliance, the team consistently reinforces its investment in this area to provide secure payment services globally. Ecosystem Lead Robert McCracken emphasized, “The acquisition of our second Money Services License in the United States underscores Alchemy Pay’s global payment capabilities and our dedication to compliance. We continue to obtain licenses globally, enhancing user experience and expanding our network coverage.”

With successful license applications in the US, Lithuania, Indonesia, and Canada, Alchemy Pay has achieved worldwide recognition on four continents. Notably, it has been approved as a third-party service provider by both Visa and Mastercard, demonstrating its legitimacy in the cryptocurrency and conventional payment industries. Alchemy Pay is still going strong, aggressively pushing for licenses in Hong Kong and the UK.