Alchemy Pay Announces U.S. Expansion, Iowa Licensing
Singapore-based Crypto-fiat payment solution, Alchemy Pay, announced further expansion into the U.S. market through their acquisition of a Money Services License in Iowa on Thursday morning.
“We are thrilled to announce that we have obtained a Money Services License in Iowa, marking our second compliant license in the United States,” read a post from Thursday from the company’s X account. “This achievement underlines #AlchemyPay‘s global payment capabilities, and our dedication to compliance.”
Founded by John Tan, Molly Zheng, and Shawn Shi in 2017, Alchemy Pay currently operates in over 173 countries. News of the payment gateway’s expansion into Iowa follows the recent announcement that the company obtained a money transmitter license in Arkansas.
“In recent months, the Alchemy Pay team has seen success in securing compliant licenses, a development that strengthens its position in both the U.S. and international markets,” stated a recent press release from the payment gateway. “Alchemy Pay’s acquisition of these licenses places it alongside established players like Coinbase, Elon Musk’s X, and MoonPay.”
The company’s acquisition of Iowa’s Money Services License signals the latest development in Alchemy Pay’s rapid expansion. Earlier this year, the company received a license from the Central Bank of Indonesia.
“The acquisition of our second Money Services License in the United States underlines Alchemy Pay’s global payment capabilities and our dedication to compliance,” said Ecosystem Lead Robert McKraken. “We continue to obtain licenses in countries and regions around the globe, improving our user’s experience, and strengthening our network coverage.”
“The achievement of this license for the second time underscores
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