Alchemy Pay Expands Compliance Reach with Delaware MTL

Alchemy Pay, a fiat-crypto payment company, has obtained a Money Transmitter License (MTL) in the state of Delaware. This approval brings the company's total number of US licenses to 15 states.

The MTL allows Alchemy Pay to offer regulated money transmission services in Delaware, which is a significant milestone for the company. The license was issued by the Delaware Office of the State Bank Commissioner, which regulates businesses that transmit money through checks, drafts, or monetary instruments.

Alchemy Pay has been actively pursuing compliance across different legal systems and financial frameworks worldwide. In addition to its US licenses, the company holds regulatory approvals in Australia, South Korea, Switzerland, and Hong Kong.

The Delaware approval is a key step towards Alchemy Pay's goal of building a compliant payment infrastructure in the US. The company plans to launch a stablecoin and develop Alchemy Chain, a blockchain infrastructure built around stablecoin use, both of which require strong regulatory backing.