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Alchemy Pay Secures AUSTRAC Approval for Australian Operations

Alchemy Pay Secures AUSTRAC Approval for Australian Operations

Alchemy Pay has gained AUSTRAC approval to operate as a Digital Currency Exchange Provider in Australia, enhancing its credibility and local partnerships.

On January 27, Alchemy Pay, a payment provider based in Singapore that works with both fiat and cryptocurrency, reported that it has officially registered as a Digital Currency Exchange Provider in Australia. AUSTRAC has approved Alchemy Pay to operate properly in Australia.

This registration allows Alchemy Pay to build local payment partnerships, improving its services for users in Australia. This achievement puts the company in the same league as big players like Kraken, which follows the same rules.

Alchemy Pay’s CMO, Ailona Tsik, highlighted how important this permission is:

Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralized crypto economy. 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.

The company is growing its presence around the world and has obtained money transfer licenses in Arkansas, Iowa, and New Hampshire in the last two years. The goal is to get 20 approvals from regulators around the world to ensure safe and open digital payments.

Besides getting licenses, Alchemy Pay has teamed up with payment companies, money transfer services, and blockchain projects.

The company said that getting AUSTRAC approval makes it more trustworthy to customers, regulators, and industry partners. It also helps them follow the rules and improve their standing in the market.

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