Alchemy Pay, a provider of fiat-to-crypto payment solutions, has announced expanding its services in Australia.
The company registered as a Digital Currency Exchange Provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
On 27 January 2025, Alchemy Pay announced its approval from AUSTRAC, the agency responsible for overseeing anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
Big news from #AlchemyPay!
We’re now officially registered as a Digital Currency Exchange Provider with AUSTRAC in Australia, enabling us to bring secure and seamless fiat-to-crypto payment services to Australian users.
Learn more: https://t.co/GZVwLCoE3q$ACH pic.twitter.com/JfUvBmdoUJ
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) January 27, 2025
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What The Regulatory Milestone Means For Alchemy Pay?
Alchemy Pay aims to secure 20 regulatory licenses globally.
Commenting on the AUSTRAC approval, Ailona Tsik, CMO of Alchemy Pay said, “We’re excited to bring our services directly to Australian users, committing to regulatory engagement for legal compliance, stakeholder trust-building, and effective risk management in Australia.”
“Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralized crypto economy,” added Tsik.
More recently, the company successfully registered as a Money Services Business with FINTRAC in Canada and expanded its North American footprint by securing eight Money Transmitter Licenses (MTLs) across the US.
Importantly, Australia’s clear regulatory framework provides businesses like Alchemy Pay with the stability needed to innovate without fear of sudden policy changes.
Furthermore, Alchemy Pay will face competition from prominent industry players like Kraken, which is also registered under AUSTRAC’s framework.
Recently, Australia’s Federal Court imposed an Australia crypto fine of $5.1 million AUD on Bit Trade, the operator of Kraken. The court sided with the Australian Securities and Investments Commission (ASIC).
ASIC accused Bit Trade of failing to comply with legal obligations regarding financial product design and distribution.
Explore: Australia’s Federal Court Fines Kraken’s Australian Operator $5.1 Million
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