Hassan Maishera
On Thursday, the Alchemy Pay team announced via a blog post that it has been granted a Money Transmitter License (MTL) in the state of South Carolina, marking a significant addition to its growing portfolio of regulatory approvals in the United States.
With the inclusion of South Carolina, Alchemy Pay now holds MTLs in ten U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, and Arizona.
The Money Transmitter License, issued under the authority of the South Carolina Attorney General in accordance with the South Carolina Anti-Money Laundering Act, authorizes Alchemy Pay to conduct a wide range of regulated financial activities. These include electronic money transmission, issuing and selling stored value instruments, processing payments and remittances, foreign currency exchange, and other licensed money services.
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’s ACH token is up 10.8% in the last 24 hours and trades at $0.02175.
