TechFlow news, according to Cointelegraph, Alchemy Pay has joined crypto companies such as Coinbase and Jack Dorsey's Block in obtaining a money transmitter license in Arkansas.
The license, granted by the Arkansas Securities Department, officially authorizes Alchemy Pay to operate services including the sale or issuance of payment instruments, stored value, prepaid access, and receiving money, virtual currency, or monetary value for transmission.
With the money transmitter license, Alchemy Pay joins a growing list of cryptocurrency firms authorized to provide crypto-to-fiat trading services in Arkansas, including Coinbase, Jack Dorsey's Block, MoonPay, and bitFlyer exchange.
The license marks a significant milestone in Alchemy Pay’s efforts to secure approvals from local regulators in key global markets. The company has previously obtained licenses in operational markets such as Indonesia and Lithuania.
According to the announcement, Alchemy Pay is currently pursuing money transmitter licenses in other U.S. states.
