Fiat-crypto payment provider @AlchemyPay has secured a Money Transmitter License (MTL) in Michigan, extending its regulated US footprint to 19 states. The approval, announced July 31, adds Mi
Fiat-crypto payment provider @AlchemyPay has secured a Money Transmitter License (MTL) in Michigan, extending its regulated US footprint to 19 states. The approval, announced July 31, adds Michigan to a roster that already includes 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 Michigan MTL is required for businesses that receive, transmit, or issue payment instruments within the state, covering digital wallets, cross-border remittance services, payment processing, and crypto-related businesses.The company is continuing to pursue additional regulatory approvals, with applications under review across multiple jurisdictions.
The state-by-state licensing push is part of a broader regulatory strategy. The US compliance expansion lays a compliant foundation for Alchemy Pay's upcoming proprietary stablecoin and the stablecoin-based Alchemy Chain. Alchemy Chain launched its mainnet in May 2026. The new Layer-1 blockchain aims to combine stablecoin payments, regulatory compliance, and cross-border settlement into a unified global network.
The network is positioned as the world's first payment blockchain to align with both EU MiCA and Hong Kong HKMA regulatory frameworks, with plans to natively issue a USD stablecoin to enable enterprise-level settlement across the four major economies of Europe, Asia-Pacific, Africa, and the United States.Alchemy Chain integrates with on- and off-ramp infrastructure, connecting stablecoins directly to fiat payment rails, banks, and wallets worldwide. The network uses $ACH as its native gas fee token.
The $ACH token was one of the few bright spots in an otherwise negative market session on Friday, rising approximately 8% on the day and close to 17% on the week, outperforming the broader crypto market. The Michigan license announcement comes alongside the company's recent regulatory registrations in Australia, South Korea, and Switzerland, signalling continued momentum in its global compliance buildout.
Sources:Alchemy Pay Michigan MTL announcement, PR NewswireAlchemy Chain Mainnet Launch, PR NewswireAlchemy Pay Launches Alchemy Chain Mainnet, Crypto Times
