Alchemy Pay has secured an Electronic Financial Business registration in South Korea by investing in the local e-finance platform, EZPG Co. This acquisition allows the cryptocurrency payment provider to expand its range of financial services, including money transfers, online payment gateways, and digital asset services, in compliance with the Electronic Financial Transactions Act. With this license, Alchemy Pay can process crypto transactions and support local payment methods such as KakaoPay, PAYCO, and Naver Pay. Given South Korea's significant crypto market, which saw an estimated 15.6 million crypto holders as of November 2024, Alchemy Pay’s investment positions it strategically in Asia. The South Korean government is also enhancing regulations around cryptocurrency, indicating a growing focus on this sector. Institutional investment has propelled the market's development, solidified by major corporations like Samsung adopting blockchain technologies. This environment reflects a shift in public perception, viewing cryptocurrencies as viable investment alternatives amidst mistrust in traditional financial systems.

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