Alchemy Pay, a prominent crypto payment gateway based in Singapore, has successfully obtained a Money Transmitter License in South Dakota. This significant development allows the company to extend its regulated operations across the United States, reinforcing its commitment to compliance-led expansion.
The approval, granted by the South Dakota Division of Banking, enables Alchemy Pay to offer regulated payment and exchange services within the state. This license is a crucial addition to its existing state-level approvals, aligning with the company's strategic objective of establishing comprehensive regulatory coverage prior to expanding its service offerings.
U.S. Licensing Strategy Gains Momentum
With the addition of the South Dakota license, Alchemy Pay now holds over ten Money Transmitter Licenses across the United States. The most recent prior approval was issued by Kansas on December 31 by the Office of the State Bank Commissioner. Other states where Alchemy Pay is licensed include Arkansas, Iowa, Minnesota, New Hampshire, and West Virginia. Each approval signifies a direct engagement with state regulators and reflects a deliberate, long-term planning approach rather than rapid, unchecked growth. This strategy is consistent with the stringent compliance requirements of the American financial system, allowing the company to build a secure operational foundation.
The expanding portfolio of licenses empowers Alchemy Pay to provide regulated fiat-to-crypto exchange services and compliant payment processing for both individuals and businesses. This grants users secure on-ramp and off-ramp solutions, enhances transaction transparency for businesses, and ensures regulators maintain oversight of digital asset payment flows. This structured approach supports broader cryptocurrency adoption while effectively managing operational risks, making licensed access essential for long-term sustainability in an increasingly regulated environment.
Regulated Access Shapes Service Delivery
Alchemy Pay's U.S. licenses offer essential legal clarity for its payment and exchange operations, thereby fostering greater confidence among its users and partners. Furthermore, the company can now operate within established consumer protection frameworks, significantly reducing the uncertainty often associated with digital asset transactions. This ensures that U.S. residents can access services with clearer compliance standards. The licenses also facilitate partnerships with regulated financial institutions, integrating Alchemy Pay within the existing financial infrastructure.
The company's core focus remains on facilitating seamless transformations between fiat currencies and digital assets, emphasizing reliable conversion and settlement services. Compliance is a central tenet of its product availability, enabling controlled growth without encountering regulatory obstacles. Therefore, the licensing process is viewed as a foundational element of its operations, rather than an afterthought. Earlier in the year, Alchemy Pay partnered with Ripple to enhance global fiat on-ramps for the RLUSD stablecoin.
Global Approvals Strengthen Operational Reach
Complementing its progress in the United States, Alchemy Pay has secured approvals in several key global jurisdictions throughout 2025. In Australia, the company is registered as a Digital Currency Exchange Provider. South Korea has granted it an Electronic Financial Business registration. In Switzerland, Alchemy Pay has joined a recognized self-regulatory organization under the VQF framework. Each of these approvals places the firm under local financial oversight, granting it structured access to diverse international markets.
In Hong Kong, Alchemy Pay expanded its presence through a strategic investment in HTF Securities Limited, securing access to Securities and Futures Commission licenses. These permissions encompass types 1, 4, and 9, enabling a range of regulated financial services within the region. Collectively, these global approvals contribute to a consistent and compliant cross-border operational framework for the company.
Product Development Anchored in Compliance
The comprehensive global licensing framework underpins Alchemy Pay's product development roadmap. The company is actively developing a Real-World Asset platform designed for tokenized stocks, allowing users to purchase these assets using fiat currencies via standard payment methods such as bank cards and mobile wallets. Concurrently, Alchemy Pay continues to advance its Layer 1 blockchain, Alchemy Chain, which will feature a stablecoin-native design optimized for payment-focused use cases across various jurisdictions. In 2024, AlchemyPay integrated with TooBit to facilitate fast and easy fiat-crypto transactions through mobile wallets, credit cards, and bank transfers.
Alchemy Pay prioritizes establishing a strong legal foundation before undertaking broad product rollouts, a sequence that distinguishes it from companies that address compliance post-expansion. Following the announcement of its South Dakota license, Alchemy Pay's native token, ACH, experienced a rise of over two percent, trading near $0.01085. The token's market capitalization was approximately $106 million, with trading volume reaching around $40 million.