Crypto payment solutions provider Alchemy Pay has expanded its footprint in South Korea through a strategic investment in EZPG Co., Ltd., a local electronic financial platform.
Notably, the investment grants Alchemy Pay access to EZPG’s registration as an Electronic Financial Business under the Financial Supervisory Service (FSS), Korea’s integrated financial regulator.
The move, announced on February 5, enables Alchemy Pay to offer a range of electronic financial services, including online payment gateways, money transfers, and crypto-related financial transactions.
Through this partnership, Alchemy Pay will integrate with major South Korean payment systems such as KakaoPay, Naver Pay, PAYCO, and virtual accounts, further enhancing its crypto-fiat conversion capabilities in the region.
Regulatory Advantage and Market Potential
Alchemy Pay’s acquisition of EZPG’s registration comes under Article 28 of the Electronic Financial Transactions Act, allowing it to operate within South Korea’s regulated financial ecosystem.
Notedly, this milestone strengthens its compliance standing while unlocking opportunities in one of the world’s most active crypto markets. South Korea has seen sustained retail adoption of digital assets, with exchanges like Upbit and Bithumb ranking among the highest in global trading volume.
“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,” said Ailona Tsik, CMO of Alchemy Pay. “We are excited to work alongside local partners to provide enhanced, localized payment solutions that cater to the needs of Korean consumers and businesses.”
Strategic Growth and Compliance Focus
This expansion aligns with Alchemy Pay’s broader efforts to establish regulatory footholds across key markets. Over the past year, the company has secured Money Transmitter Licenses in eight U.S. states, an Authorised Payment Institution License in the UK, and a Digital Currency Exchange Provider (DCEP) registration under AUSTRAC in Australia.
With its global compliance strategy and localized payment integrations, Alchemy Pay is positioning itself as a major player in the regulated crypto-fiat payment space. The company aims to leverage South Korea’s high crypto adoption rate to drive further innovation and accessibility in digital asset transactions.
Alchemy Pay: Looking Ahead
Alchemy Pay’s entry into the Korean market reflects the increasing convergence of traditional and digital finance. As regulatory frameworks evolve, secure and compliant payment solutions remain crucial for crypto adoption. The firm’s latest move signals a continued commitment to bridging fiat and digital assets while adhering to local regulatory standards.
