Alchemy Pay obtains Michigan money transmitter licence
31 July 2026 Hong Kong
Image: icholakov/stock.adobe.com
Alchemy Pay, a fiat-crypto payment solutions provider, has obtained a money transmitter licence (MTL) in the US state of Michigan.
The MTL is necessary for businesses seeking to receive, transmit, or issue payment instruments within the state, including cross-border remittance services, payment processing, and crypto-related businesses.
It also contributes to the firm’s digital currency strategy and development of Alchemy Chain, its blockchain infrastructure centred on stablecoin-based payments and as a settlement layer for enterprises and financial institutions.
According to Alchemy Pay, the licensing is the next step in its ongoing aim of establishing payment infrastructure throughout major US economic regions, and its investment in regulatory compliance as a key facet of its global payment strategy.
With the addition of Michigan, the firm now holds MTLs in 19 US states, including Arizona, Minnesota, Illinois, and Wyoming, among others.
The company says it is pursuing further regulatory approvals, with applications currently subject to review in multiple jurisdictions.
The MTL is necessary for businesses seeking to receive, transmit, or issue payment instruments within the state, including cross-border remittance services, payment processing, and crypto-related businesses.
It also contributes to the firm’s digital currency strategy and development of Alchemy Chain, its blockchain infrastructure centred on stablecoin-based payments and as a settlement layer for enterprises and financial institutions.
According to Alchemy Pay, the licensing is the next step in its ongoing aim of establishing payment infrastructure throughout major US economic regions, and its investment in regulatory compliance as a key facet of its global payment strategy.
With the addition of Michigan, the firm now holds MTLs in 19 US states, including Arizona, Minnesota, Illinois, and Wyoming, among others.
The company says it is pursuing further regulatory approvals, with applications currently subject to review in multiple jurisdictions.
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