Hassan Maishera
On Tuesday, the Alchemy Pay team announced via a blog post that Alchemy Pay has successfully registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
This follows the recent acquisition of 4 new Money Transmitter Licenses (MTLs) in the United States, marking significant progress in Alchemy Pay's North American expansion strategy.
The registration confirms that Alchemy Pay is fully compliant with Canadian financial regulations and legally authorized to provide a range of financial services, including currency exchange, money transfers, and dealing in virtual currencies. With its MSB registration, Alchemy Pay enables Canadian users to easily and securely buy digital assets, transfer funds, complete transactions, and convert crypto holdings into fiat for direct deposit into bank accounts, streamlining both onramping and offramping.
Alchemy Pay is a payment system focused on retail transactions at the point of sale and peer-to-peer remittance. Users can make payments using fiat, stablecoins, and other cryptocurrencies on traditional payment systems. Alchemy Pay’s ACH token is down 11% in the last 24 hours and trades at $0.02353.
