Alchemy Pay Secures Illinois Money Transmitter License, Expanding U.S. Regulatory Coverage to 18 States

HONG KONG, June 24, 2026 /PRNewswire/ -- Alchemy Pay, the world-leading fiat-crypto payment solutions provider, today announced that it has secured a Money Transmitter License (MTL) in the State of Illinois, marking another significant milestone in the company's U.S. regulatory expansion strategy. As one of the largest economic centers in the United States and home to a growing digital asset and fintech ecosystem, Illinois represents a key jurisdiction in Alchemy Pay's efforts to build compliant payment infrastructure across North America.

The Illinois Money Transmitter License, regulated by the Illinois Department of Financial and Professional Regulation (IDFPR), authorizes Alchemy Pay to engage in money transmission activities involving fiat currencies and digital assets within the state. The license covers the transmission of money and monetary value, including electronic funds transfers and virtual currency-related services. License status can be verified through the Nationwide Multistate Licensing System (NMLS) Consumer Access portal by searching "Alchemy Pay."

Illinois occupies a unique position within the U.S. digital asset landscape. Anchored by Chicago, one of the world's leading financial centers and a long-standing hub for derivatives, trading, and financial innovation, the state has increasingly emerged as an important market for fintech and blockchain development. Securing regulatory authorization in Illinois further strengthens Alchemy Pay's ability to serve users and partners in one of the country's most influential financial markets while advancing its broader vision of connecting traditional finance with blockchain-based payment networks.

The license comes at a time when regulatory frameworks for digital assets, stablecoins, and blockchain-based financial services are becoming increasingly defined across major global markets. As governments and regulators continue establishing clearer pathways for compliant digital asset adoption, Alchemy Pay remains focused on building infrastructure that bridges fiat and crypto economies under robust regulatory standards.

The Illinois MTL further enhances Alchemy Pay's ability to facilitate compliant fiat-to-crypto and crypto-to-fiat transactions, expand its payment services, and strengthen its market presence across the United States. It also supports the company's broader strategic initiatives, including the future issuance of compliant stablecoin products and the advancement of Alchemy Chain, Alchemy Pay's next-generation stablecoin-focused blockchain infrastructure.

Alchemy Chain is being developed as a compliant financial settlement network designed to connect stablecoins, traditional payment systems, and global financial institutions. By integrating regulatory compliance directly into its architecture, Alchemy Chain aims to provide the infrastructure necessary for stablecoins to function as a scalable global settlement layer for enterprises, merchants, financial institutions, and emerging AI-driven economic systems.

"Securing the Illinois Money Transmitter License is a particularly meaningful milestone for Alchemy Pay given the state's importance within the U.S. financial and innovation landscape," said Ailona Tsik, CMO of Alchemy Pay. "As regulatory clarity continues to improve globally, we remain committed to building payment infrastructure that meets the highest compliance standards while enabling seamless access between fiat currencies, digital assets, and future stablecoin-based financial networks. Each regulatory approval strengthens the foundation for the next generation of global payments."

Beyond its expanding regulatory presence in the United States, Alchemy Pay has achieved significant compliance milestones across multiple global markets over the past year. These include securing Digital Currency Exchange Provider (DCEP) registration in Australia, Electronic Financial Business registration in South Korea, and admission to Switzerland's Association for Quality Assurance of Financial Services (VQF) as a recognised Self-Regulatory Organisation (SRO). The company has also strengthened its regulated presence in Hong Kong through its investment in SFC-licensed firm HTF Securities Limited, supporting access to regulated virtual asset activities under Hong Kong's evolving digital asset framework.

With the addition of Illinois, Alchemy Pay now holds Money Transmitter Licenses in 18 U.S. states, including Arkansas, Iowa, Minnesota, New Hampshire, New Mexico, Oklahoma, Oregon, Wyoming, Arizona, South Carolina, Kansas, West Virginia, South Dakota, Nebraska, Delaware, Rhode Island, Maine, and Illinois. The company continues to expand its regulatory footprint across the United States, with additional license applications currently under review in multiple jurisdictions.

About Alchemy Pay

Founded in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off-Ramp, Web3 Digital Bank, NFT Checkout and its newly launched RWA platform, Alchemy Pay supports fiat payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. The RWA platform allows global users to invest in tokenized real-world assets using local fiat currencies, lowering entry barriers and democratizing access to traditional financial instruments. Our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. Additionally, the NFT Checkout enables direct purchases of NFTs using fiat payment methods. ACH is the Alchemy Pay network token on the Ethereum blockchain.

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SOURCE Alchemy Pay