Alchemy Pay Secures Michigan Money Transfer License, Expanding US Reach to 19 States

Alchemy Pay obtains Michigan MTL, bringing total US licensed states to 19. This regulatory step supports its stablecoin strategy and Alchemy Chain infrastructure for payments.

Woofun AI reports that Alchemy Pay has been granted a Money Transmitter License in Michigan, increasing its number of licensed US states to 19. The authorization permits the firm to receive, transfer, or issue payment instruments, covering digital wallets, cross-border remittances, and crypto services. The company indicated this approval underpins its long-term stablecoin strategy and Alchemy Chain infrastructure. In the past year, Alchemy Pay also secured Digital Currency Exchange Provider registration in Australia, electronic finance business registration in South Korea, VQF membership in Switzerland, and invested in Hong Kong's HTF Securities Limited. Applications for additional US state licenses remain under review.