The crypto-fiat payment services provider Alchemy Pay is expanding its presence in the U.S.
as it acquired its money services license in the state of Iowa.
The Singaporean crypto-fiat payment gateway, Alchemy Pay, announced a further expansion into the
United States market on Nov. 23 with the acquisition of its money services license in the state of Iowa.
According to local state regulations, any entity or individual engaged in currency exchange or money
transmission business in Iowa must hold such a license.
In September, the company received its money transmitter license (MTL) in Arkansas. The company
says it has already completed the application for MTL licenses in additional U.S. states and anticipates answers in the coming months.
Alchemy Pay Ecosystem Lead Robert McCracken spoke to Cointelegraph about the development,
saying that in the U.S. crypto landscape, they are focused on compliance with the currency regulatory framework.
“We believe that a well-structured regulatory environment is essential for the sustainable growth and
development of any industry, and that includes the fiat-crypto payment industry.”
McCracken said he believes the crypto payment industry has “immense potential” and could be a
“leading sector in the future.” Alchemy Pay is already working in 173 countries via payment methods
including Visa, Mastercard, regional mobile wallets, and domestic transfers.
