Alchemy Pay obtains Digital Currency Exchange Provider approval in Australia
By Gloria Mathias
Alchemy Pay, a fiat-crypto payment solutions provider, has announced its registration as a Digital Currency Exchange Provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
This approval represents a key regulatory approval, enabling Alchemy Pay to facilitate seamless, secure fiat-to-crypto payment services in the Australian market.
With its registration as a Digital Currency Exchange Provider under AUSTRAC, Alchemy Pay can establish local payment facilitator relationships in Australia to enhance crypto exchange services at a more competitive price tailored to Australian users. This regulatory milestone bolsters Alchemy Pay’s regional presence and places it among other prominent industry players such as Kraken, which is also registered under this regulatory framework.
Key advantages include:
- Regulatory Adherence: The registration ensures strict compliance with Australian AML and CTF regulations, reinforcing transparency and accountability.
- Building Stakeholder Trust: By demonstrating a strong commitment to legal compliance, Alchemy Pay strengthens its credibility among consumers, regulators, and industry partners.
- Unlocking Market Potential: Meeting regulatory standards opens new opportunities for Alchemy Pay to expand its services, connecting users to the global crypto economy.
- Risk Mitigation: By meeting AUSTRAC’s stringent anti-money laundering (AML) and counter-terrorism financing (CTF) compliance requirements, it minimises exposure to risks related to illicit financial activities.
- Operational Integrity: By adhering to legal frameworks, Alchemy Pay ensures uninterrupted services, mitigates risks of non-compliance, and strengthens its long-term market presence. This alignment supports operational continuity and bolsters resilience against regulatory challenges.
“Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralised crypto economy,” said Ailona Tsik, CMO of Alchemy Pay. “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.”
Alchemy Pay’s acquisition of the AUSTRAC regulatory approval aligns with its strategic ambition to secure 20 regulatory licenses globally.
Globally, Alchemy Pay is actively pursuing licenses in key markets such as Hong Kong, South Korea, Singapore, and Europe, alongside its latest milestone in Australia.
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