Alchemy Pay (CRYPTO: $ACH) has added Illinois to its U.S. regulatory map, giving the fiat-crypto payments company another state license as it builds toward a broader stablecoin infrastructure push.
The company said it secured a Money Transmitter License in Illinois, bringing its U.S. coverage to 18 states. The license is regulated by the Illinois Department of Financial and Professional Regulation and allows Alchemy Pay to engage in money transmission activity involving fiat currencies and digital assets in the state.
Illinois gives the approval added weight because of Chicago's role in trading, derivatives and financial infrastructure. For Alchemy Pay, the license expands its ability to serve users and partners in a market that already sits close to the traditional financial system it is trying to connect with blockchain-based payment rails.
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The update also lands as stablecoin regulation and digital asset payment rules continue to move from theory into operating frameworks. Alchemy Pay said the Illinois approval supports its fiat-to-crypto and crypto-to-fiat services, U.S. market expansion and longer-term plans tied to compliant stablecoin products.
That includes Alchemy Chain, the company's stablecoin-focused blockchain infrastructure project. Alchemy Pay describes the network as a compliant settlement layer designed to connect stablecoins, traditional payment systems and global financial institutions. The company is also positioning the chain for enterprise, merchant, financial institution and AI-driven payment use cases.
Alchemy Pay CMO Ailona Tsik called the Illinois license "a particularly meaningful milestone," citing the state's importance across finance and innovation. She said each regulatory approval strengthens the company's foundation for the next generation of global payments.
The company's global compliance push has also included Digital Currency Exchange Provider registration in Australia, Electronic Financial Business registration in South Korea and admission to Switzerland's VQF as a recognized self-regulatory organization. It has also expanded its regulated presence in Hong Kong through an investment in SFC-licensed HTF Securities.
Alchemy Pay's network token (CRYPTO: ACH) is trading at $0.0048 U.S. per digital token.