The ACH price has demonstrated significant strength, climbing 47% over the last week, fueled by positive developments for the crypto payment provider Alchemy Pay, including securing a key license in the United States.
Alchemy Pay, a Singapore-based firm specializing in bridging fiat and digital asset transactions, recently announced it obtained a Money Transmitter License (MTL) in Arizona. This marks a significant step in its U.S. expansion, bringing its total state licenses to nine, alongside others like Arkansas and Iowa.
Securing regulatory approval is increasingly vital for crypto payment platforms seeking mainstream adoption and user trust. This new license legally permits Alchemy Pay to facilitate crypto-to-fiat exchanges within Arizona, bolstering its operational footprint.
The company isn’t limiting its focus to the U.S., actively pursuing and holding licenses globally, including in the UK, Canada, South Korea, and Australia. This global regulatory push complements its infrastructure growth.
Strategic partnerships are also expanding Alchemy Pay’s reach. Collaborations with networks like Mantle Network and HashKey Chain earlier this year integrated on-ramp support for their native tokens. More recently, Ethena Labs incorporated Alchemy Pay’s services, enabling users across 173 countries to purchase USDe and ENA using numerous fiat currencies.
This combination of regulatory momentum and expanding service availability appears to be resonating in the market. The ACH token, currently trading near $0.027, recently surpassed its 20-day Exponential Moving Average ($0.02323). Traders are now closely watching a critical resistance zone between $0.0275 and $0.0288.
A successful break above this level, which previously served as support, could signal further upward movement. This price action comes as anticipation builds for Alchemy Pay’s planned launch of its own Layer-1 blockchain, dubbed Alchemy Chain, built using the Solana VM.