Singapore-based fiat-crypto payment solutions provider, Alchemy Pay, announced January 27 that it had successfully registered as a Digital Currency Exchange Provider in Australia. The registration, approved by the Australian Transaction Reports and Analysis Centre (AUSTRAC), enables Alchemy Pay to legally offer its services to Australian users.

According to a statement, AUSTRAC’s approval now enables Alchemy Pay to establish local payment facilitator relationships, which will help it better serve Australian users. The registration also places the payment provider among prominent industry players like Kraken, which also secured registration under the same regulatory framework.

Commenting on the milestone, Alchemy Pay CMO Ailona Tsik said:

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.

Alchemy Pay’s registration as a digital currency exchange provider adds to its growing list of approvals secured across different jurisdictions. In the past two years, the payment provider secured money transmitter licenses in Arkansas, Iowa, and New Hampshire. According to the statement, Alchemy Pay, which claims to be dedicated to making digital payments accessible and trustworthy for users worldwide, aims to secure 20 regulatory licenses globally.

Besides securing operating licenses, the payment provider has partnered with other payment solution providers, remittance firms, and blockchain projects.

Meanwhile, Alchemy Pay asserts that AUSTRAC approval “strengthens its credibility among consumers, regulators, and industry partners.” It also helps mitigate risks of noncompliance and boosts its long-term market presence.

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