Alchemy Pay, the world-leading fiat-crypto payment solution provider, is pleased to announce that it has made a strategic investment in EZPG Co., Ltd. (이지피쥐), a leading e-finance platform in Korea. This investment enables Alchemy Pay to acquire EZPG Co., Ltd.’s registration as an Electronic Financial Business under the supervision of South Korean government’s integrated financial regulator Financial Supervisory Service (FSS). This milestone marks a significant step in Alchemy Pay’s efforts to expand its crypto payment services in Korea and strengthen its position in the global crypto payment ecosystem.
The registration, granted under Article 28 of the Electronic Financial Transactions Act, allows admitted companies to operate a wide range of electronic financial services in Korea. This includes online payment gateway (PG) services, electronic financial system operations, money transfers, and the provision of digital financial services, including those related to cryptocurrencies. Alchemy Pay’s partnership with EZPG Co., Ltd. enhances its ability to facilitate the seamless exchange of crypto assets and provides access to Korea’s leading local payment methods, such as KakaoPay, Naver Pay, PAYCO, and other cash payment systems, firm banking, and virtual accounts.
This regulatory milestone positions Alchemy Pay to tap into Korea’s rapidly growing crypto market, which has seen significant adoption of digital assets and high retail participation. South Korea remains a key player in global crypto adoption, with trading volumes on platforms like Upbit and Bithumb consistently ranking among the highest worldwide. The growing popularity of crypto assets has heightened the need for secure, regulated fiat-crypto exchange solutions to meet the demands of both individual and institutional investors, presenting significant growth opportunities for Alchemy Pay’s localized services.
“As a pivotal hub in Asia for both traditional finance and digital currency adoption, Korea represents a tremendous opportunity for Alchemy Pay’s long-term growth. We are excited to work alongside local partners to provide enhanced, localized payment solutions that cater to the needs of Korean consumers and businesses. This move further solidifies Alchemy Pay’s commitment to expanding our global presence while adhering to local regulatory standards,” said Ailona Tsik, CMO of Alchemy Pay.
Alchemy Pay’s strategic expansion in Korea aligns with its broader mission to deliver secure and efficient fiat-crypto payment solutions worldwide. Over the past year, the company has also achieved significant regulatory successes in other markets, including obtaining Money Transmitter Licenses across eight U.S. states, securing an Authorised Payment Institution License in the UK, and registering as a Digital Currency Exchange Provider (DCEP) under AUSTRAC in Australia. These achievements demonstrate Alchemy Pay’s unwavering commitment to regulatory compliance and its continued leadership in the crypto payment sector.
For full verification of the registration status, partners can refer to the official link to the registration: FSS Registration Status.
About Alchemy Pay
Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off Ramp, Web3 Digital Bank, Crypto Payments and NFT Checkout, Alchemy Pay supports payments in 173 countries.
The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. Our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. Additionally, the NFT Checkout enables direct purchases of NFTs using fiat payment methods. ACH is the Alchemy Pay network token on the Ethereum blockchain.
