Crypto-fiat payment service provider Alchemy Pay (ACH) has been granted a money services license in the US state of Iowa.
Singapore-based crypto-fiat payment network startup Alchemy Pay announced on November 23 that it is expanding into the United States market by acquiring a money services license in the state of Iowa.
According to the state of Iowa regulations, money transfer and currency exchange establishments serving in the area must have a money services license. By eliminating this license, Alchemy Pay increased its dominance in the region.
Alchemy Pay (ACH) continues to expand
Alchemy Pay (ACH), which is also listed on major stock exchanges such as Binance, announced that it has expanded by obtaining a money services license in the US state of Iowa.
Alchemy Pay ecosystem lead Robert McCracken spoke to Cointelegraph about the development and said that in the US crypto environment, Alchemy is focused on complying with the currency regulatory framework.
Sharing his views on the subject, McCracken stated that there is tremendous potential in the crypto payment industry. McCracken, one of Alchemy Pay executives, argued that the crypto payment system will become a leading industry in the future.
Alchemy Pay currently works in 173 countries with payment methods including Visa, Mastercard, regional mobile wallets and domestic transfers.
According to the announcement, Alchemy Pay is also working on licensing applications in the United Kingdom and Hong Kong. Additionally, the company received its money transmitter license (MTL) in Arkansas in September.
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