- Alchemy Pay may provide its crypto services to people and companies in these regions.
- With these additional licenses, Alchemy Pay now has a total of eight licenses in the US.
Alchemy Pay, a cryptocurrency payment gateway, has increased its US compliance with four additional licenses. On November 8th, Alchemy Pay confirmed that it has obtained money transmitter licenses (MTLs) in the states of Wyoming, Oregon, Oklahoma, and Minnesota.
Nationwide Multi-State Licensing System and Registry data shows that with these additional licenses, Alchemy Pay now has a total of eight licenses in the US states. These licenses are the most recent ones; others were approved in September 2023 in Arkansas, November 2023 in Iowa, and both New Hampshire and New Mexico. Now that it has four more licenses, Alchemy Pay may provide its cryptocurrency services to people and companies in those areas.
Capitalizing on Tremendous Potential
Moreover, these eight states have authorized Alchemy Pay to provide its on-ramp and off-ramp services. Thus, allowing consumers to convert US dollars to cryptocurrencies like Bitcoin with ease. To ensure compliance with state standards, Alchemy Pay has been progressively launching services with each new license, beginning with crypto and off-ramps.
With Alchemy Pay, one can buy virtual and physical cards for quick crypto spending anywhere in the world. They also have a ramp solution. Merchants may now accept cryptocurrency payments with Alchemy Pay’s crypto payment solution.
Furthermore, aiming to capitalize on the “tremendous potential” in the US crypto industry, Alchemy Pay’s chief revenue officer Romeo Luo said that obtaining MTL licenses is the goal.
The firm’s executive said that the time it takes to get a license in the United States varies from state to state and might even take up to a year. According to Luo, it typically takes anything from a few months to a year, given the review procedure.
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