Alchemy Pay, the fiat-crypto payment gateway, is pleased to announce its collaboration with Regtech firm Sumsub to integrate its leading Travel Rule solution across Alchemy Pay’s entire product suite.
This integration marks a key milestone in reinforcing regulatory compliance, transactional transparency, and user security, “aligning Alchemy Pay with the vision of building a secure, compliant, and accessible bridge between traditional finance and the crypto economy.”
As cryptocurrency adoption continues to scale globally, regulatory frameworks such as the Travel Rule, “a set of regulations to increase transparency in cryptocurrency transactions and prevent money laundering and terrorist financing, are being enforced to ensure that Virtual Asset Service Providers (VASPs) maintain transparency comparable to traditional financial institutions.”
The rule mandates the secure exchange of originator and beneficiary information during crypto transactions, “enabling traceability and oversight to mitigate illicit activities.”
Sumsub connects with counterparties via “a Travel Rule solution integrated with 1,800+ VASPs across protocols like GTR, TRP, CODE, Sygna.”
By integrating Sumsub’s comprehensive Travel Rule compliance solution, Alchemy Pay is empowering its platform “with automated, secure data exchange protocols that enable seamless information sharing between counterparties in virtual asset transfers.”
Sumsub’s infrastructure will bolster Alchemy Pay’s ability to “collect, validate, and transmit required transaction data while maintaining a smooth user experience.”
Sumsub is a verification platform that “helps businesses manage user and business onboarding, fight fraud, and stay compliant with regulations.”
Its technology complements Alchemy Pay’s multi-layered compliance framework, which “includes KYC/AML procedures, fraud detection, and regional licensing.”
Sumsub’s rules engine, covering 35 markets with 10+ jurisdiction-specific rule bundles, automates Travel Rule compliance, “enhancing Alchemy Pay’s readiness in strict regulatory environments and building trust with institutional and retail users.”
The integration comes at a “pivotal” time as Alchemy Pay continues to expand its regulatory footprint globally, recently “securing the 10th Money Transmitter Licenses (MTLs) in the U.S., and growing its reach in Europe, UK, Korea, and Southeast Asia.”
As Alchemy Pay onboards more users into the crypto economy through its fiat-crypto ramp, payment solutions, and upcoming stablecoin-based blockchain infrastructure, compliance reportedly remains “a cornerstone of its scaling strategy.”
With this collaboration, Alchemy Pay underscores its role as a crypto payments enabler, delivering what it claims are “secure, compliant, and user-friendly solutions in an evolving global financial landscape.”