Alchemy Pay Secures South Dakota Money Transmitter License for U.S. Expansion

Highlights:

• Alchemy Pay has secured a South Dakota Money Transmitter License.
• The company is building a bridge between fiat and digital economies with its RWA platform.
• Alchemy Pay aims to launch its stablecoin and enhance global operations with the new license.

The Singapore-based crypto payment gateway Alchemy Pay has continued to speed up its regulatory expansion with a Money Transmitter License (MTL) in South Dakota. The license was granted by the South Dakota Division of Banking, marking another positive step in the U.S. licensing policy of the company.

Alchemy Pay Expands U.S. Licensing Coverage

The South Dakota license now adds to the growing list of state approvals Alchemy Pay has in the United States. The company currently has MTLs in more than 10 states, with Kansas being the most recent to be approved by the Office of the State Bank Commissioner on December 31. 

Other licensed states are Arkansas, Iowa, Minnesota, New Hampshire, and West Virginia. These successes highlight an increased focus on regulatory business activities in one of the most regulated financial markets in the world.

The new licenses obtained will also enable Alchemy Pay to provide fiat-crypto exchange and payment services in regulated settings. With more legal clarity and secure transactions, U.S. residents and businesses are now able to access these services. 

The steady progress of the company in acquiring licenses indicates a proactive effort to establish a compliant base in the United States. It seeks to offer reliable on- and off-ramp solutions to transform digital assets and fiat currencies.

Global Licensing Push Supports RWA and Stablecoin Goals

As the progress continued towards the U.S., Alchemy Pay also received approvals in key global jurisdictions in 2025. In Australia, the company was registered as a Digital Currency Exchange Provider. South Korea also granted it Electronic Financial Business registration as well. In Switzerland, it joined the Self-Regulatory Organisation (SRO) in the Association of Quality Assurance of Financial Services (VQF).

Alchemy Pay made use of a strategic investment in the HTF Securities Limited in Hong Kong, acquiring access to licenses under the Securities and Futures Commission (SFC). These consist of permission types 1, 4, and 9, allowing various regulated financial services in the region.

Furthermore, these global qualifications provide Alchemy Pay with the framework to support its product roadmap. The company is working on a Real-World Asset (RWA) platform, which will allow purchasing fiat-to-tokenized stocks. Access to tokenized assets will be available to consumers using the standard payment methods, such as bank cards and mobile wallets.

At the same time, the company is developing its own blockchain, called Alchemy Chain. It is designed as a Layer 1 network and will have a stablecoin-native environment, further enabling its payment ecosystem.

Compliance as a Long-Term Strategy

The accessibility of Alchemy Pay services is offered with ease as it complies with local legal frameworks in various jurisdictions. This model supports its vision of serving both retail and institutional users while upholding the highest standards of regulation.

With the growing global attention towards digital finance, licensing has become a necessity to ensure long-term sustainability. The track record of Alchemy Pay indicates a blueprint strategy that leans on compliance and then rolls out the products.

The company has stressed establishing its legal presence rather than scaling products ahead of licensing. This strategy makes Alchemy Pay stand out among other service providers who usually roll out first and seek compliance afterward. Alchemy Pay’s native token, ACH, has surged by over 2% following the announcement. ACH is trading around $0.01085, with a market cap and trading volume of $106 million and $40 million, respectively.