Alchemy Pay Secures SFC Type 1 License to Expand Virtual Asset Services in Hong Kong

Alchemy Pay, a popular crypto payment entity, has officially obtained the upgrade to its SFC Type 1 License for cryptocurrency services in Hong Kong. The development permits Alchemy Pay to expand digital asset payments across Hong Kong in partnership with HTF Securities Limited.

As per Alchemy Pay’s official social media announcement, the move extends regulated crypto-focused services to both professional and retail investors. Hence, the move reinforces the long-term commitment of Alchemy Pay to innovation, compliance, and connecting digital assets with traditional finance.

Alchemy Pay Expands Crypto Services Across Hong Kong with New SFC Type 1 License

The new SFT Type 1 license upgrade of Alchemy Pay lets it broaden its digital asset-related services in Hong Kong. In this respect, the license permits entities to focus on securities via activities like acquisition, underwriting, enabling over-the-counter trades, and disposal.  With the new upgrade, the platform can legitimately engage in diverse virtual asset transfers categorized as securities under the compliance framework of the SFC.

The upgrade highlights Alchemy Pay’s wider regulatory strategy for steady expansion across Hong Kong, a leading financial hub. By complying with the stringent regulatory benchmarks, the firm offers a trusted gateway between the swiftly evolving Web network and traditional financial systems. Additionally, by integrating virtual asset services, it signifies the rising regulatory clarity in the crypto sector of Hong Kong.

Looking to Implement Complete Regulatory Framework via Type 9 License

Alchemy Pay is set to utilize this landmark development to widen its offerings, such as the development of the Alchemy Chain payment network and stablecoin initiatives. The firm is also looking to get an Asset Management (Type 9) license upgrade. This, alongside Type 4 and Type 1 licenses, would accomplish a complete-spectrum framework for financial services in Hong Kong.

According to Alchemy Pay, this move encourages innovation in compliance with an organized compliance structure. The firm is also expected to present the exclusive developments thereof at the next Hong Kong Web3 Festival 2026. Ultimately, Alchemy Pay’s expanding regulatory footprint signifies the endeavors for scaling across Asia as well as beyond.