Alchemy Pay and its investment company HTF Securities have upgraded to a Type 1 license from the Hong Kong SFC

Cryptocurrency payment company Alchemy Pay announced that its strategic investment target in Hong Kong, HTF Securities Limited, has received approval from the Hong Kong Securities and Futures Commission (SFC) to upgrade its Type 1 (Securities Trading) license to virtual asset trading services, covering both professional and retail investors. Previously, both parties had jointly completed the upgrade of the Type 4 license to VA and are advancing the application for the upgrade of the Type 9 license, gradually building a virtual asset licensing system in Hong Kong.

In addition, the stablecoin payment public chain Alchemy Chain launched by Alchemy Pay has gone live on the testnet this March. Since its launch, the number of test addresses has exceeded 150,000, providing underlying support for the implementation of its stablecoin payment ecosystem.