- Alchemy Pay secures its ninth MTL in Arizona, advancing its U.S. regulatory footprint.
- The company gains licenses in major markets and forms partnerships to enable fiat-to-crypto services worldwide.
- ACH rises 47%, nearing key resistance levels, with potential for a breakout.
Alchemy Pay has received the company’s ninth Money Transmitter License (MTL) in Arizona. This development is backed by growing investor confidence, as the platform’s native token ACH soars by 47% over the past week, even as the platform records growing regulatory milestones.
As such, the fiat-crypto payment gateway provider based in Singapore is now legally authorized to engage in secure crypto-to-fiat and fiat-to-crypto transactions in Arizona. This follows Alchemy Pay being licensed by MTLs in nine U.S. states, including Arkansas, Iowa, and Wyoming. The firm has also said it is pushing ahead with further regulatory approvals in other U.S. jurisdictions.
Alchemy Pay Expands Compliance Footprint and Partnerships
On the global front, Alchemy Pay keeps expanding its compliance footprint with licenses in major markets like the UK, South Korea, Canada, and, most recently, Australia. The regulatory gains reflect the company’s continued efforts to expand its services worldwide to meet international compliance standards.
After licensing, Alchemy Pay has steadily established its on-ramp infrastructure through strategic partnerships. In January, the company worked with Mantle Network (MNT) and HashKey (HSK) Chain to have fiat on-ramp services for their native tokens. Recently, Ethena (ENA) has embraced Alchemy Pay’s on-ramp solution to enable people from over 173 countries to purchase USDe and ENA through fiat payments of over 50 currencies using traditional payment modes.
ACH Price Surges as Key Resistance Approaches
Over the past weeks, these developments have boosted bullish sentiment over ACH, with the token trading at around $0.027, which is 47% higher on a week-on-week basis. ACH has surged in the rally and is now making its way above its 20-day Exponential Moving Average of $0.02323, and it is now testing the resistance zone of $0.0275 and $0.0288. It was previously a support area in the middle of the month, and in the meantime, it’s considered a key area to watch out for, as a breakout may be ahead.
Market observers are also watching a launch slated for Just Next Month Alchemy Chain, a Solana Virtual Machine (SVM) based Layer 1 blockchain that was announced in Late October as a potential spark for more fuel in the price trajectory of ACH.
