Alchemy Pay Reaches 11 States in the U.S. with New Kansas License—What Is Really Happening?

Let’s tell the story of Alchemy Pay and the Money Transmitter License it received from Kansas. On the surface, it’s just regulatory paperwork. But let’s explore why this is a big deal for the fiat-crypto payments ecosystem.

The Kansas License is Part of a Larger Play

Alchemy Pay currently holds licenses in 11 U.S. states—Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, Arizona, South Carolina, and now Kansas. This is the company’s third state-level approval in 2025 alone.

But it’s not just about the numbers. Each license means Alchemy Pay can legally offer money transmitter services to individuals and businesses in that area. It’s a practical step showing the company’s commitment to regulatory compliance in the U.S. market—it’s not just about getting by.

Why This Regulatory Strategy Matters

Alchemy Pay’s core business is fiat-to-crypto conversion. The new Kansas approval directly supports this. But more than that, these licenses open doors for new services.

These services include:

• RWA Platform: Direct purchase of tokenized stocks using fiat. Not many offer such a straightforward approach yet.
• Stablecoin Infrastructure: The company plans to develop its own stablecoin and Alchemy Chain, backed by stablecoins.
• Web3 Digital Bank: Multi-fiat accounts and instant fiat-crypto conversion for everyday users.
• Payment Services: On- and off-ramp operations reaching 173 countries.

Alchemy Pay’s ACH token runs on Ethereum and supports all of this.

The Bigger Context: U.S. Regulatory Environment Is Transforming

The timing of the Kansas approval is strategic. U.S. digital asset policies are continuously evolving. Interest in real-world asset tokenization is rising. For Alchemy Pay, each new license is leverage for responsible innovation.

The company’s CMO, Ailona Tsik, said: “The Kansas Money Transmitter License affirms our commitment to compliance and transparency. As the regulatory environment adapts, we are innovating responsibly—from RWA access to stablecoin infrastructure—remaining fully regulated.”

The Global Compliance Picture

The Kansas license is part of a larger winning streak:

• Digital Currency Exchange Providers (DCEP) license in Australia
• Electronic Financial Business registration in Korea
• Recognition from Switzerland’s VQF as a Self-Regulatory Organization
• Strategic investment in Hong Kong-licensed HTF Securities Limited

Founded in 2017, Alchemy Pay has built itself as a bridge between traditional money and crypto. Its approach is clear: gain regulatory credibility, then use the license to test new innovations.

The Real Question

Alchemy Pay follows the playbook: build compliance infrastructure, then innovate within that framework. But the real test is whether regular users, large financial institutions, and other regulators can keep up. The new approvals are promising signals—but the true adoption story is just beginning to unfold.