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Alchemy Pay Says Mississippi Licence Expands US Money Transmission Coverage to 20 States
Alchemy Pay says it has secured a money transmitter licence in Mississippi, taking the number of US states where it holds such authorizations to 20.
Brief
Alchemy Pay has obtained a money transmitter license from the Mississippi Department of Banking and Consumer Finance, according to a disclosure the company made on November 5. With this addition, the firm now holds such authorizations in 20 US states. The license covers applicable activities, and the company directs people to the Nationwide Multistate Licensing System's public consumer portal to check licensing details. Alchemy says further state applications are still under review and that it is pursuing more authorizations. The article notes that a state license does not confirm approval in neighboring states. The article also mentions its Alchemy Chain project, but the license announcement does not approve that blockchain.
Why it matters: It shows crypto payment firms building coverage one state at a time, which bears on where their fiat-to-crypto services can be offered.
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