Alchemy Pay Wins Mississippi License, Expanding Reach to 20 States

Mississippi’s banking and consumer finance department granted Alchemy Pay a money transmitter license, bringing the crypto payments company’s licensed U.S. presence to 20 states.

The expansion is intended to support its fiat and cryptocurrency exchange services, stablecoin plans and development of Alchemy Chain, a stablecoin layer-1 blockchain. Any future stablecoin issuance would have to meet applicable regulatory requirements. Multiple other state license applications remain under review.

Its network covers over 50 fiat currencies and more than 300 payment routes, from Visa and Mastercard to mobile wallets and local bank transfers. Those figures describe the company’s overall services and do not establish that every option is available through Walt, the digital-asset app on Telegram that integrated Alchemy Pay’s fiat-purchase service.