Alchemy Pay has added another regulatory milestone to its rapid U.S. expansion, announcing that it has been granted a Money Transmitter License by the South Dakota Division of Banking. The license strengthens the payments firm’s ability to provide a regulated bridge between traditional fiat and digital currencies for U.S. residents and businesses as it pushes to broaden its domestic footprint.
South Dakota is the thirteenth state in which Alchemy Pay holds an active MTL and the fifth such license the company has secured since early 2025. The company now lists active authorizations in Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, Arizona, South Carolina, Kansas, West Virginia and South Dakota, and says additional regulatory progress is underway. The expanded network of state licenses aims to underpin Alchemy Pay’s growing suite of compliant fiat-crypto services across the country.
The new license also supports the rollout of several of Alchemy Pay’s strategic initiatives. Company materials say the regulatory coverage will facilitate its RWA platform, which it describes as the world’s first fiat-to-RWA access and is designed to let everyday users buy tokenized stocks using familiar fiat payment methods. The license is likewise positioned as a step toward enabling Alchemy Pay’s broader payments expansion, the planned launch of its own stablecoin, and development of Alchemy Chain, a stablecoin-based Layer 1 blockchain the company says is currently under active development.
Global Compliance Push
Alchemy Pay’s push in the United States comes alongside notable compliance achievements in other key markets this year. In 2025 the firm secured Digital Currency Exchange Provider registration in Australia, obtained Electronic Financial Business registration in South Korea, gained admission to Switzerland’s Association for Quality Assurance of Financial Services (VQF) as a recognized self-regulatory organisation, and, via a strategic investment in HTF Securities Limited, now shares SFC 1, 4 and 9 licenses in Hong Kong. Taken together, the company says, these milestones reinforce its position as a global payment provider focused on secure, regulated infrastructure.
Founded in 2017, Alchemy Pay operates a payments gateway that connects crypto and traditional fiat currencies for businesses, developers and end users. Its product suite includes the Ramp, a one-stop solution for buying and selling crypto and fiat that can be integrated into platforms and dApps; a Web3 Digital Bank offering multi-fiat accounts and instant fiat-crypto conversion for Web3 enterprises; and an NFT Checkout that enables direct NFT purchases with fiat. The company also highlights its newly launched RWA platform and says it supports fiat payments in 173 countries. ACH is the Alchemy Pay network token on the Ethereum blockchain.
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