The well-known fiat-crypto payment gateway Alchemy Pay has reached a noteworthy milestone when it obtained a Money Services License in the US state of Iowa. This achievement, which was declared on November 23, 2023, comes after they were successful in getting an Arkansas money transmitter license earlier. Obtaining these licenses is a significant milestone in Alchemy Pay’s ambitions to increase its market presence internationally as well as evidence of its regulatory compliance.
The regulatory body in charge of granting the Money Services License is the State of Iowa’s Division of Banking. Businesses that transact money or exchange currencies in Iowa are required to have this license, which is currently included in the Nationwide Multistate Licensing System (NMLS). For Alchemy Pay to continue operating in the money transfer and currency exchange industries, it is imperative that it uphold certain local regulatory criteria.
Robert…
