Alchemy Pay, a cryptocurrency payment gateway, has secured four new money transmitter licenses in the USA, continuing to expand its operations.
New Licenses in Four States
Alchemy Pay has acquired new licenses in Wyoming, Oregon, Oklahoma, and Minnesota, bringing its total number of licenses in the USA to eight. This follows earlier approvals in Arkansas, Iowa, New Hampshire, and New Mexico.
Company's Advanced Technologies and Services
These licenses allow Alchemy Pay to offer services converting U.S. dollars into cryptocurrencies such as Bitcoin. The company provides virtual and physical cards for seamless crypto transactions globally, as well as solutions for merchants to accept cryptocurrency payments.
Importance of U.S. Strategy
The company's chief revenue officer, Romeo Luo, highlighted the vast opportunities within the U.S. crypto market, stating that acquiring MTL licenses is a key aspect of Alchemy Pay's strategy. He noted that the licensing process can vary significantly by state, often taking anywhere from a few months to a year to complete.
The acquisition of new licenses underscores Alchemy Pay's commitment to compliance with state regulations and strategic expansion in the burgeoning U.S. cryptocurrency market.
