Alchemy Pay Secures Michigan Money Transmitter License, U.S. Licensed States Increase to 19

TechFlow News, July 31, according to PR Newswire, Alchemy Pay announced it has obtained the Money Transmitter License (MTL) from the state of Michigan, USA, increasing the number of states where it holds relevant licenses in the US to 19. This approval further expands its compliant payment network in the US and enhances its ability to conduct two-way conversion between fiat currency and crypto assets, payment processing, and related services.

The company stated that Michigan holds an important position in the US Midwest economic corridor, and this license approval helps advance its deployment of stablecoin payment and settlement infrastructure. Besides the US, Alchemy Pay has also achieved multiple regulatory advancements in markets such as Australia, South Korea, Switzerland, and Hong Kong, China over the past year.