Nikolas Sargeant
On Thursday, the Alchemy Pay team announced via a blog post that it has secured a Money Transmitter License (MTL) in Michigan, extending its regulated U.S. footprint to 19 states.
The Michigan Money Transmitter License is required for businesses that receive, transmit, or issue payment instruments within the state, encompassing a range of financial technology and payment activities, including digital wallets, cross-border remittance services, payment processing, and crypto-related businesses.
License status can be verified through the Nationwide Multistate Licensing System (NMLS) Consumer Access portal by searching “Alchemy Pay.”
The Michigan approval adds to a series of regulatory milestones Alchemy Pay has achieved across global markets over the past year. In addition to its growing U.S. licensing portfolio, the company has secured Digital Currency Exchange Provider (DCEP) registration in Australia, Electronic Financial Business registration in South Korea, and admission to Switzerland’s Association for Quality Assurance of Financial Services (VQF) as a recognised Self-Regulatory Organisation (SRO).
With Michigan now added to its regulatory network, Alchemy Pay holds Money Transmitter Licenses in 19 U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, Arizona, South Carolina, Kansas, West Virginia, South Dakota, Nebraska, Delaware, Rhode Island, Maine, and Illinois.
Founded in Singapore in 2018, Alchemy Pay (ACH) is a payment solutions provider that seamlessly connects fiat and crypto economies for global consumers, merchants, developers, and institutions. It provides online and offline merchants with convenient acceptance of both fiat and crypto, enables easy onboarding to blockchain ecosystems, and makes web3 services highly accessible.
Today, Alchemy Pay is supported in over 70 countries with 300 payment channels, has touchpoints with more than 2 million merchants through partnerships with industry leaders such as Binance, Shopify, NIUM, and QFPay. Alchemy Pay’s token ACH, is an ERC20 native to the Ethereum blockchain
Alchemy Pay is a payment system focused on retail transactions at the point of sale and peer-to-peer remittance. Users can make payments using fiat, stablecoins, and other cryptocurrencies on traditional payment systems.
Alchemy Pay (ACH) is a payment solutions provider that seamlessly connects fiat and crypto economies for global consumers, merchants, developers, and institutions. It provides online and offline merchants with convenient acceptance of both fiat and crypto, enables easy onboarding to blockchain ecosystems, and makes DeFi services highly accessible.
Alchemy Pay’s ACH token is down 3.4% in the last 24 hours and trades at $0.004496. Alchemy Pay supports cryptocurrency’s mission to provide people of all economic and geographic backgrounds with equal access to global finance.
