Hassan Maishera
On Wednesday, the Alchemy Pay team announced via a blog post that it has made a strategic investment in EZPG Co., Ltd., a leading e-finance platform in Korea. This investment enables Alchemy Pay to acquire EZPG Co., Ltd.'s registration as an Electronic Financial Business under the supervision of the South Korean government's integrated financial regulator, the Financial Supervisory Service (FSS).
The registration, granted under Article 28 of the Electronic Financial Transactions Act, allows admitted companies to operate a wide range of electronic financial services in Korea. This includes online payment gateway (PG) services, electronic financial system operations, money transfers, and the provision of digital financial services, including those related to cryptocurrencies.
Over the past year, Alchemy Pay has also achieved significant regulatory successes in other markets, including obtaining Money Transmitter Licenses across eight U.S. states, securing an Authorised Payment Institution License in the UK, and registering as a Digital Currency Exchange Provider (DCEP) under AUSTRAC in Australia
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 8% in the last 24 hours and trades at $0.03549.
