Alchemy Pay, a supplier of Fiat-to-Crypto payment solutions, announced the expansion of its services in Australia.
The company has registered as a supplier of digital exchange for Australian Transaction Reports and Analysis Center (Austrac).
On January 27, 2025, Alchemy Pay announcement Its approval from Austrac, the agency responsible for supervising anti-flary financing regulations (LMA) and counter-terrorism financing (CTF).
Big news from #Alchemypay!
We are now officially registered as a digital exchange supplier with Austrac in Australia, allowing us to provide secure and transparent Fiat-TO-Crypto payment services to Australian users.
– ALCHEMY PAY | $ ACH: Fiat-Crypto Payment Gateway (@Alchemypay) January 27, 2025
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What does the regulatory milestone mean for the remuneration of alchemy?
Alchemy Pay aims to obtain 20 regulatory licenses worldwide.
Commenting the approval of Austrac, Ailona Tsik, CMO of Alchemy Pay said: “We are delighted to provide our services directly to Australian users, by committing to regulatory engagement for legal compliance, the construction of stakeholder trust and effective risk management in Australia. “”
“Our mission is to build a robust and compliant infrastructure which links the traditional financial system to the decentralized cryptographic economy,” added Tsik.
More recently, the company has successfully registered as a monetary services company at Fintrac Canada and extended his North American footprint by obtaining eight silver issuer licenses (MTLS) through The United States.
Above all, the clear regulatory framework of Australia provides companies like alchemy which compensates for the stability necessary to innovate without fear of sudden policy changes.
In addition, Alchemy Pay will face the competition of main players in the industry such as Kraken, who is also recorded as part of Austrac.
Recently, the Federal Court of Australia inflicted a fine of Australian crypto of $ 5.1 million Aud on Bit, the Kraken operator. The court has signed on the side of Australian Securities and Investments Commission (ASIC).
The ASIC has accused trade of not complying with the legal obligations concerning the design and distribution of financial products.
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