Alchemy Pay, the prominent cryptocurrency payment firm finally gets the license of transmitting money in the United States. Now, Alchemy Pay partnered with Jack Dorsey’s Block and Coinbase to get a Money Transmitter License in Arkansas. Getting a money transmitter license in the United States is part of Alchemy Pay’s expansion strategy.
Perks of A Money Transmitter License for Alchemy pay
Alchemy Pay disclosed this exclusive news with the media on the 20th of September 2023. It says that the firm also disclosed that Alchemy Pay has a money transmitter license in the state of Arkansas. This license enables Alchemy Pays to sell or issue payment instruments and receive payments. Moreover, this license grants features of prepaid access, stored value, digital currency and transference of other monetary value.
By getting the license, Alchemy Pay gets the right to work with many significant crypto platforms in Arkansas. Alchemy Pay now gets authorizations to offer crypto-to-fiat transactions through bitFlyer exchange, MoonPay, Block of Jack Dorsey, Coinbase and many others. This license has enabled Alchemy Pay to secure the local regulations in crucial markets at the global level.
Alchemy Pay’s Strategic Planning to Expand at a Global Level
Alchemy Pay disclosed that, recently they have got a license in the U.S. market and they are planning to expand its services at the global level. It is important to note that, Alchemy Pay has also gotten the license in Lithuania and Indonesian markets as well.
Robert McCraken, the ecosystem lead of Alchemy Pay says that they are looking for ways to get the license to work in other states as well. The purpose of this strategic licensing is to act as a bridge between the crypto and fiat economies at a global level. Alchemy Pay was founded in 2018 and since then bridging the between fiat and crypto economies with its unique crypto-to-fiat payment solutions.
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