Alchemy Pay secured a Money Transmitter Licence from the Arkansas Securities Department.
Alchemy Pay is a crypto-to-fiat payment provider platform. The main focus of this platform is to provide a payment solution for companies to accept payments easily. This platform was founded in 2018 and currently, this platform is playing a vital role in connecting the crypto economy with the traditional economy. Currently, its services are available in 173 countries, including Australia, Canada, Hong Kong, the United Arab Emirates, and India.
Recently the Alchemy Pay team announced that the company secured a Money Transmitter Licence from the Arkansas Securities Department more than a week ago. This license will allow the platform to provide various kinds of payment services including crypto in the US States.
Alchemy Pay considers this licence a key success for the company, as it is one of the first like licences that will allow it to provide services for Americans.
Notably, here Alchemy Pay is not the first crypto firm that secured this license, already other crypto firms like Coinbase, Block (founded by Jack Dorsey), MoonPay, and bitFlyer exchange are holding this license.
The lead of Alchemy Pay’s ecosystem, Robert McCracken, said that the Money Transmitter Licence is going to be a key point for the platform because it will help to secure similar kinds of licenses globally
ACH coin price action
ACH is the native coin of the Alchemy Pay platform and the current trade price of this token is $0.015 & this trade price is 7.9% low over the last 24 hours trade price.
Some crypto proponents considered this success for Alchemy Pay interesting because currently, the situation for crypto companies is not smooth, as the financial regulators took several enforcement actions against crypto companies blindly, following the bankruptcy of the FTX crypto exchange in Nov 2022.