cryptojournalist
New Licenses in Four States
Alchemy Pay, a cryptocurrency payment service, has gained new money transmitter licenses (MTLs) in Minnesota, Oklahoma, Oregon, and Wyoming. This brings the company’s total to eight licenses across U.S. states, as confirmed by Alchemy Pay on November 8.
A Step-by-Step Approach to U.S. Expansion
With each license, Alchemy Pay can provide more residents and businesses with its crypto on-ramp and off-ramp services, which allow easy transactions between the U.S. dollar and cryptocurrencies like Bitcoin. A spokesperson noted that the company is carefully rolling out services in each licensed state to meet local regulations. Each new license is seen as a milestone in expanding secure crypto access in the U.S.
Focus on Compliance
Alchemy Pay’s approach aims to build a compliant foundation as it expands across the U.S., reflecting the company’s commitment to navigating the complex Web3 and crypto market. According to Chief Revenue Officer Romeo Luo, the U.S. offers significant growth opportunities, and the company is proud to set high standards within the evolving industry.
Licensing Process and Timeline
Getting licensed in the U.S. is a lengthy process, often taking several months to a year, depending on each state’s requirements. Alchemy Pay’s representative mentioned that the company remains committed to expanding, regardless of potential regulatory changes.
