Alchemy Pay and its partner, HTF Securities, have obtained an upgraded SFC Type 1 crypto license (providing virtual asset dealing services) from the Hong Kong Securities & Futures Commission (SFC), which allows greater access to the crypto market by both retail and professional investors.
SFC Type 1 crypto license: Building a Full-Spectrum Regulatory Framework
The expanded SFC Type 1 license and upgraded Type 4 [which provides advice on securities (previous one)] licenses create a new regulatory framework that consists of the three core licenses (Types 1, 4, and 9) required to legally conduct business related to securities trading, asset management, and investment advisory under Hong Kong’s regulatory regime. The upgrade to Type 9 is still being processed.
Alchemy continues to establish its regulatory presence throughout Hong Kong while working towards its vision of bridging the gap between traditional and digital markets. Moreover, Alchemy is accelerating the development of its stablecoin initiative, including the launch and building of a decentralized ecosystem based on its Alchemy Chain and recent integration with the Onchain Payments Matrix (which includes several crypto firms), bridging Web3 and Traditional Finance (TradFi).
Global Compliance with Accruals
Alchemy Pay currently has more than 15 Money Transmitter Licenses in the U.S., plus various registrations across Australia, South Korea, Europe, and Southeast Asia. The company milestone in Hong Kong reinforces its commitment to granting global access to seamless fiat-to-crypto conversions, and it is part of a rapid accretion of global compliance to fulfill that purpose.
