Alchemy Pay's Hong Kong Investment Receives SFC Approval for Virtual Asset Trading

Alchemy Pay has announced that its strategic investment 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 include virtual asset trading services. According to Foresight News, this upgrade will cater to both professional and retail investors. Previously, both parties had successfully completed the upgrade of their Type 4 license for virtual assets and are currently working on the application for a Type 9 license upgrade. Additionally, Alchemy Pay's stablecoin payment blockchain, Alchemy Chain, launched its testnet in March this year, with over 150,000 test addresses since its inception.