Singapore-based cryptocurrency payment provider Alchemy Pay has successfully obtained an Electronic Financial Business registration in South Korea. On February 5, 2025, Alchemy Pay revealed that its strategic expansion in Korea is part of its global mission to enhance crypto services.

“As a pivotal hub in Asia for both traditional finance and digital currency adoption, Korea represents a tremendous opportunity for Alchemy Pay’s long-term growth.”
— Ailona Tsik, CMO of Alchemy Pay

Alchemy Pay seeks to secure 20 regulatory licenses worldwide and has made significant progress by expanding into countries like Australia, Canada, and Africa.

Expansion Through Strategic Investment In South Korea’s EZPG Co

Alchemy Pay achieved this registration by investing in EZPG Co Ltd, an established electronic finance platform in South Korea, which enabled it to acquire regulatory certification governed by South Korea’s Financial Supervisory Service (FSS).

“We are excited to work alongside local partners to provide enhanced, localized payment solutions that cater to the needs of Korean consumers and businesses,” Tsik added.

Alchemy Pay Expanded Services To Australia

Recently, Alchemy Pay also announced its registration as a Money Services Business with FINTRAC in Canada after securing approval from Australia’s AUSTRAC.

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