Alchemy Pay, a cryptocurrency payment gateway, has made significant strides in expanding its operations in the United States by securing four new money transmitter licenses (MTLs) in Wyoming, Oregon, Oklahoma, and Minnesota as of November 8th.
This brings the total number of licenses held by Alchemy Pay in the U.S. to eight, following earlier approvals in states like Arkansas, Iowa, New Hampshire, and New Mexico.
These licenses enable Alchemy Pay to offer its services, allowing users to easily convert U.S. dollars into cryptocurrencies such as Bitcoin. The company is committed to adhering to state regulations, progressively rolling out its services with each new license obtained.
Alchemy Pay provides a range of options for consumers, including virtual and physical cards for seamless crypto transactions globally, as well as solutions for merchants to accept cryptocurrency payments.
The company’s chief revenue officer, Romeo Luo, emphasized the vast opportunities within the U.S. crypto market, highlighting the importance of acquiring MTL licenses as part of their strategy. He noted that the licensing process can vary significantly by state, often taking anywhere from a few months to a year to complete.
