Alchemy Pay, a Singapore-based fiat-crypto payment company, announced on Tuesday that it is partnering with Sumsub, a global verification firm, to integrate Sumsub’s Travel Rule solution across all of Alchemy Pay’s products.
Sumsub said in a statement that this integration marks a significant milestone in reinforcing regulatory compliance, transactional transparency and user security, further aligning Alchemy Pay with the vision of building a secure, compliant and accessible bridge between traditional finance and the crypto economy.
As cryptocurrency use grows worldwide, regulations like the Travel Rule are being enforced to make crypto transactions more transparent and prevent money laundering and terrorist financing. This rule requires Virtual Asset Service Providers (VASPs) to exchange information about the sender and recipient of crypto transactions ensuring they can be traced like traditional financial transactions.
Sumsub connects with over 1,800 VASPs through major protocols like GTR, TRP, CODE, and Sygna to help enforce the Travel Rule. By integrating Sumsub’s solution, Alchemy Pay can securely and automatically share the required transaction information between parties in crypto transfers.
Sumsub’s platform helps Alchemy Pay collect, verify, and transmit transaction data while keeping the process smooth for users. Sumsub also supports businesses with user onboarding, fraud prevention, and regulatory compliance.
Its technology complements Alchemy Pay’s existing KYC/AML checks, fraud detection, and licensing. Sumsub’s rules engine, covering 35 markets with over 10 region-specific rule sets, automates Travel Rule compliance, helping Alchemy Pay stay ready for strict regulations and build trust with both institutional and retail users.
According to the statement, the integration comes at a pivotal time as Alchemy Pay continues to expand its regulatory footprint globally, recently securing the 10th Money Transmitter License (MTL) in the United States, and growing its reach in Europe the United Kingdom, Korea, and Southeast Asia.
As Alchemy Pay onboards millions of users into the crypto economy through its fiat-crypto ramp, payment solutions and upcoming stablecoin-based blockchain infrastructure, compliance remains a cornerstone of its scaling strategy.
With this collaboration, Alchemy Pay underscores its role as a responsible, forward-thinking crypto payment leader delivering secure, compliant and user-friendly solutions in a rapidly evolving global financial landscape, said the statement.
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