Alchemy Pay gains AUSTRAC approval to expand in Australia
Singapore-based Alchemy Pay (CRYPTO:ACH) has announced its successful registration as a Digital Currency Exchange Provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as of January 27, 2025.
This registration allows Alchemy Pay to provide fiat-to-crypto payment solutions legally within Australia.
The approval enables the company to establish local payment facilitator partnerships, enhancing its service offerings to Australian users.
With this milestone, Alchemy Pay joins other industry players like Kraken, which have also secured similar regulatory approvals.
"Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralised crypto economy," stated Ailona Tsik, CMO of Alchemy Pay.
She expressed excitement about bringing their services directly to Australian users while emphasising the importance of regulatory compliance and stakeholder trust.
The registration is part of Alchemy Pay's broader strategy to secure 20 regulatory licenses worldwide, reflecting its commitment to building a compliant and interconnected crypto economy.
In addition to Australia, the company has previously obtained money transmitter licenses in several U.S. states and registered as a Money Services Business in Canada.
Alchemy Pay's AUSTRAC approval not only strengthens its credibility among consumers and regulators but also mitigates risks associated with non-compliance.
By adhering to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, the company aims to foster a secure environment for its users while expanding its market presence.
The registration opens new opportunities for Alchemy Pay to connect users with the global crypto economy, further enhancing its operational integrity in the evolving financial landscape.
At the time of reporting, the Alchemy Pay (ACH) price was $0.03516.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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