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Alchemy Pay, a leading fiat-crypto payment gateway, announced that it has been granted a Money Transmitter License (MTL) in the state of South Carolina, marking a significant addition to its growing portfolio of regulatory approvals in the United States.
With the inclusion of South Carolina, Alchemy Pay now holds MTLs in 10 U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, and Arizona.
Company officials said this milestone reflects Alchemy Pay's sustained commitment to regulatory compliance and its strategic expansion within the U.S. financial landscape.
The Money Transmitter License, issued under the authority of the South Carolina Attorney General in accordance with the South Carolina Anti-Money Laundering Act, authorizes Alchemy Pay to conduct a wide range of regulated financial activities.
These include electronic money transmission, issuing and selling stored value instruments, processing payments and remittances, foreign currency exchange, and other licensed money services.
The license enables Alchemy Pay to lawfully offer its suite of fiat-crypto on-ramps and off-ramps within South Carolina's jurisdiction.
The recent passage of the GENIUS Act by the U.S. Senate, alongside increased institutional interest in real-world assets (RWA), marks a pivotal moment for the blockchain and fintech sectors.
Company officials said that in this context, Alchemy Pay's newly secured license is well-positioned to support its continued role as an on and off-ramp infrastructure provider and a key enabler of the emerging RWA ecosystem.
The South Carolina license represents another step in Alchemy Pay's broader regulatory strategy, laying the groundwork for future initiatives such as its fiat-accessible RWA platform, which is expected to go live in August with the first batch of 60 tokenized stocks and ETFs in collaboration with Backed and xStocks.
As Alchemy Pay continues to expand its global compliance footprint, these foundational licenses will support the seamless integration of innovative products that bridge traditional finance and Web3, ultimately enhancing accessibility to tokenized assets via familiar fiat payment methods, company officials said.
Additionally, as Alchemy Pay moves to expand its payment service offerings, the growing regulatory coverage across the globe will support the company's long-term goals, including the development of its native stablecoin and the launch of Alchemy Chain, a stablecoin-based layer-1 blockchain designed to power global payment applications, the officials said.
The company holds an Authorised Payment Institution (API) License in the United Kingdom, is registered as a Digital Currency Exchange Provider under AUSTRAC in Australia, and has obtained membership in Switzerland's VQF, a FINMA-recognized Self-Regulatory Organisation (SRO).
It also holds an MSB (Money Services Business) registration in Canada and maintains formal registration for electronic financial services in South Korea.
In addition, company officials said Alchemy Pay is actively pursuing compliance under Europe's Markets in Crypto-Assets (MiCA) regulation and seeking key regulatory licenses in Hong Kong, further solidifying its global regulatory posture in anticipation of the next wave of Web3 financial infrastructure.
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