Alchemy Pay (ACH) Coin Rallies 730% to Hit 10-Month High, Here's Why

Alchemy Pay price made a strong recovery, hitting its highest level since February 2022, after making strong regulatory progress.

Alchemy Pay (ACH) price hit its highest level since February 2022, following strong regulatory progress.

Specifically, Alchemy Pay price rose to a high of $0.0585 on March 17, up 730% from its lowest level in 2023. This pushed its market capitalization to over $452 million.

The rally came after the company obtained a digital currency exchange provider license in Australia. It now has 12 licenses globally, with hopes of obtaining more in the coming months. Additionally, Alchemy Pay has a US money transmitter license and UK API approval.

In another significant development, Alchemy Pay partnered with Movement, a blockchain network enabling users to build quality applications.

Uniting the Ethereum Virtual Machine and Move-based ecosystems, this partnership allows for seamless onboarding to Movement’s network and the ability to purchase the MOVE token using payment gateways like Visa, Mastercard, and others.

Alchemy Pay has emerged as a major player in the crypto space, offering a product that bridges cryptocurrencies and over 50 fiat currencies, including the US dollar and the euro.

Moreover, Alchemy Pay provides fintech solutions that enable companies to accept cryptocurrencies and receive funds in local currency. Notably, the company recently launched Alchemy Chain, a high-performing layer-1 solution for the payment industry.

Venture capital firms have also shown interest in Alchemy Pay, with the latest funding round valuing the company at around $400 million.

According to Mirhir N., founder of Rhythmic Analyst, on X, Alchemy Pay is "near breakout."

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