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Alchemy Pay says it has obtained a Money Transmitter License (MTL) in Delaware, expanding its regulated footprint in the U.S. The company framed the approval as another step toward building a fully compliant payment infrastructure for fiat-to-crypto services.
The license comes as Alchemy Pay continues to stack state-by-state approvals while signaling longer-term ambitions around stablecoins and new blockchain infrastructure.
Delaware approval expands Alchemy Pay’s U.S. licensing map
Alchemy Pay said Delaware’s statute treats the transmission or payment of money—including checks, drafts, money orders, and other monetary instruments—as regulated money transmission activity. Under that framework, firms must obtain an MTL and operate under the supervision of the Delaware Office of the State Bank Commissioner.
With the new license, Alchemy Pay says it is authorized to provide regulated money transmission services within Delaware in line with local requirements.
Now at 15 U.S. state MTLs, with more applications pending
Alchemy Pay said the Delaware approval brings it to Money Transmitter Licenses in 15 U.S. states. The company listed Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, Arizona, South Carolina, Kansas, West Virginia, South Dakota, and Nebraska among the states where it holds MTLs, and said additional applications are under review in other jurisdictions.
In plain terms, the company is building the compliance “surface area” it needs to offer broader fiat on-ramps and off-ramps without relying on patchwork arrangements.
Compliance push ties directly to stablecoin and “Alchemy Chain” plans
Alchemy Pay said the expanding regulatory coverage supports scaling its fiat-crypto payment services and deepening market presence. It also explicitly linked the U.S. licensing effort to longer-term initiatives, including launching its own stablecoin and developing a stablecoin-based blockchain infrastructure called Alchemy Chain.
That linkage is notable because it frames MTL accumulation not as a checkbox, but as foundational infrastructure for future product lines.
Global milestones: Australia, Korea, Switzerland, and Hong Kong exposure
Beyond the U.S., Alchemy Pay highlighted several compliance milestones: registration as a Digital Currency Exchange Provider (DCEP) in Australia, Electronic Financial Business registration in South Korea, and admission in Switzerland to VQF as a recognized self-regulatory organisation.
It also pointed to indirect participation in Hong Kong’s regulated market through an investment in HTF Securities Limited, which it said holds Hong Kong SFC Type 1, 4, and 9 licenses.
Why it matters for crypto
- More state MTL coverage can expand compliant fiat on-ramps/off-ramps in the U.S., where licensing is fragmented and state-driven.
- The company is explicitly tying U.S. licensing progress to future stablecoin issuance and “Alchemy Chain” infrastructure plans.
- Compliance milestones across Australia, Korea, and Switzerland signal a strategy focused on regulated distribution, not just crypto-native channels.
- As stablecoin scrutiny rises globally, payments providers are increasingly treating licensing as product infrastructure, not PR.
What to watch next
- Which additional U.S. jurisdictions approve Alchemy Pay’s pending MTL applications, and in what timeframe.
- Concrete details on Alchemy Pay’s stablecoin launch plans (issuance model, jurisdictions, reserve and redemption design).
- Whether Alchemy Chain moves from “planned” to public roadmap milestones, test deployments, or partner integrations.
- Any new institutional or banking partnerships that leverage Alchemy Pay’s growing compliance footprint for settlement and treasury flows.
Source: Alchemy Pay Press Release