Alchemy Pay adds Michigan, its 19th US money transmitter license
Alchemy Pay has secured a Money Transmitter License in Michigan, extending its US regulatory footprint to 19 states as it builds compliant infrastructure for Alchemy Chain, its live stablecoin payment network.
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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.
Building Toward Alchemy Chain
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.
$ACH Price Reaction
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 Newswire
Alchemy Chain Mainnet Launch, PR Newswire
Alchemy Pay Launches Alchemy Chain Mainnet, Crypto Times
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.