Alchemy Pay Gets Permission To Operate In US State

The fiat linking platform and crypto Alchemy Pay received permission from the government. (Photo; Doc. Alchemy Pay)

JAKARTA Alchemy Pay (ACH), a platform connecting fiat payments to crypto, is reportedly getting approval from Iowa to operate its services. That way, Alchemy Pay further strengthens its position in the United States market. This achievement also reflects Alchemy Pay's efforts to comply with local rules.

"We believe that a well-structured regulatory environment is critical to sustainable growth and development in every industry, including the crypto-fiat payment industry," McCracken, Ecosystem Lead Alchemy Pay, said.

He added that the company's ambition to become a leader in the future payment sector. Alchemy Pay is committed to continuing to obtain permission from the government in operating its services in the US.

Previously, in September 2023, Alchemy Pay had also received the green light from the state of Arkansas. That way, the company can provide crypto-related financial services to the people of Arkansas.

Alchemy Pay isn't the only crypto company to get a similar license. Other leading crypto companies such as Coinbase, MoonPay, and bitFlyer also obtained permission from the Arkansas Department of Security.

Not only in the US, but Alchemy Pay is also trying to spread its wings to various countries. The company is trying to obtain permits from various countries including the UK and Hong Kong.

Meanwhile, in the Southeast Asia region, in February 2023, Alchemy Pay has obtained a permit to operate in Indonesia through collaboration with the Berkah Digital Payment company. Bank Indonesia gave Alchemy Pay a license to handle remittances and fund transfers.