Alchemy Pay, a provider of fiat-to-crypto payment solutions, has announced the expansion of its services in Australia. The company has registered as a Digital Currency Exchange Provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
On January 27, 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: Link $ACH pic.twitter.com/JfUvBmdoUJ
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) January 27, 2025
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.
The company has also 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 United States.
With Australia’s clear regulatory framework, businesses like Alchemy Pay benefit from the stability needed to innovate without fear of sudden policy changes.
Additionally, Alchemy Pay will face competition from established players like Kraken, which is also registered under AUSTRAC’s framework. Recently, Australia’s Federal Court imposed a fine of $5.1 million AUD on Bit Trade, the operator of Kraken, due to non-compliance with financial product design and distribution obligations.
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