Alchemy Pay invests in Hong Kong’s HTF Securities, aiming to secure an SFC Type 4 license for virtual asset advisory services, enhancing its regulatory compliance in the region.
This move positions Alchemy Pay’s ACH token as a compliant fiat-crypto service gate in Hong Kong, reflecting growing regulatory alignment in cryptocurrency markets.
Alchemy Pay, a fiat-to-crypto payment provider, collaborates with HTF Securities to enhance their service offering. Their primary goal is to upgrade the Type 1 license, while simultaneously utilizing existing licenses for securities and asset management.
Alchemy Pay’s investment could heighten its role as a compliant fiat-crypto gateway in Hong Kong, potentially boosting ACH, its native network token, as applicable regulatory frameworks are established. The move may also align with a growing trend of traditional financial firms integrating digital assets, providing a solid base for financial innovation.
Alchemy Pay’s Strategic Move for SFC Type 4 License
Alchemy Pay has strategically invested in HTF Securities, aiming to secure a Type 4 license from Hong Kong’s SFC. This endeavor focuses on expanding their capabilities in advisory services for virtual assets.
Impact of Investment on Alchemy Pay’s Market Position
The investment may heighten Alchemy Pay’s role as a compliant fiat-crypto gateway in Hong Kong. The move could boost ACH, its native network token, as applicable regulatory frameworks are established.
Potential outcomes include regulatory advancements for Alchemy Pay within virtual asset services. The investment aligns with a growing trend where traditional financial firms integrate digital assets, potentially providing a solid base for financial innovation.
Historical Patterns in Hong Kong’s Fintech Licensing
Hong Kong has seen firms like HashKey enhance business operations through such licenses. Alchemy Pay’s current strategies follow a similar pathway, echoing past moves by established financial firms in the sector.
Experts from Kanalcoin posit that Alchemy Pay’s investment could open new avenues for cross-border fiat-crypto payments. Historical data indicates a positive trend for companies diversifying via strategic license acquisitions in the fintech landscape.
Alchemy Pay announces through its official news page that it “will apply for the upgrade of the SFC Type 1 license” and collaborate on extending licenses to virtual asset services: Alchemy Pay News.
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