Alchemy Pay has received approval from the Australian Transaction Reports and Analysis Centre (AUSTRAC) to become a digital currency exchange provider in the region.
The company’s successful registration will allow Alchemy Pay to provide fiat-to-crypto payment services to Australian markets, and will further enable the company to establish payment facilitator relationships with local institutional clients.
The approval is also said to signify Alchemy Pay’s commitment to maintaining regulatory compliance as well as growing the company’s global presence.
Commenting on AUSTRAC’s decision, Ailona Tsik, chief marketing officer of Alchemy Pay, says: "Our mission is to build a robust and compliant infrastructure that connects the traditional financial system with the decentralised 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."
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