KEY FACTS: Alchemy Pay has invested in South Korea’s EZPG Co., Ltd (이집이집) to secure its electronic financial business registration, enabling a stronger foothold in the country’s fintech market. This move gives Alchemy Pay access to critical financial services—from credit card handling and virtual accounts to enhanced compliance tools—and positions the company to integrate crypto-fiat payment solutions across various sectors such as e-commerce, tourism, and offline retail. Partnering with EZPG provides local expertise, helping Alchemy Pay bridge digital assets and traditional finance in a market known for its high cryptocurrency adoption and regulatory standards.

Source: Alchemy Pay

Alchemy Pay Secures South Korean Electronic Financial Business Registration

Alchemy Pay, a pioneering provider of online and offline crypto-fiat payment solutions, has invested in EZPG Co., Ltd (이집이집)—a leading South Korean payments company. This investment enables Alchemy Pay to acquire EZPG Co., Ltd.’s registration as an Electronic Financial Business under the supervision of South Korean government’s integrated financial regulator Financial Supervisory Service (FSS). The investment aims to pave the way for more advanced payment services, compliance with local regulations, and an expanded Korean market presence. This development was conveyed in a February 5 announcement.

Alchemy Pay, the world-leading fiat-crypto payment solution provider, is pleased to announce that it has made a strategic investment in EZPG Co., Ltd. (이지피쥐), a leading e-finance platform in Korea. This investment enables Alchemy Pay to acquire EZPG Co., Ltd.’s registration as an Electronic Financial Business under the supervision of South Korean government’s integrated financial regulator Financial Supervisory Service (FSS).
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The electronic financial business registration secured by Alchemy Pay is granted under Article 28 of the Electronic Financial Transactions Act and allows admitted companies to operate a wide range of electronic financial services in Korea. This includes online payment gateway (PG) services, electronic financial system operations, money transfers, and the provision of digital financial services, including those related to cryptocurrencies. The license enables digital deposits and withdrawals, the issuance of new financial instruments, online credit card transaction handling, and enhanced compliance standards.

This means that users can integrate more advanced options for transferring digital assets and traditional currencies within Alchemy Pay’s payment infrastructure. They can also access regulated tools and instruments that blend the strengths of digital currencies with conventional banking features. Also, the license provides that Alchemy Pay’s solutions adhere to local regulations and standards—reassuring both Korean merchants and consumers of the platform’s legitimacy and security.

South Korea has long been recognized as a major hub for cryptocurrency adoption and blockchain innovation. EZPG Co., Ltd, known locally as 이집이집, brings extensive insights into Korea’s financial ecosystem, including essential connections to banks, payment networks, and prominent local merchants. By formally entering Korea through its investment in EZPG Co., Ltd, Alchemy Pay positions itself at the forefront of expanding crypto-fiat solutions in the region. The company stated, thus:

“Through EZPG, Alchemy Pay’s partnership with Korean merchant partners will expand to a broader range of industries, including online and offline commerce, e-commerce, tourism, hospitality, logistics, and more...”

Also, aligning with EZPG’s existing infrastructure allows Alchemy Pay to deliver its crypto-friendly technology and expand merchant coverage across multiple sectors such as e-commerce and online retail, tourism and hospitality, logistics and supply chain, and offline commerce. With EZPG’s established network and Alchemy Pay’s technology, the partnership can ease the way for Korean businesses and consumers to utilize crypto and traditional payments under one unified umbrella.

This targeted outreach is intended to amplify the use of digital currencies for everyday transactions and accelerate the mainstream acceptance of blockchain-driven solutions. Leveraging its global expertise, Alchemy Pay aims to help merchants—both large-scale and independent—implement streamlined, secure, and user-friendly crypto and fiat payment systems.

In a statement following the announcement, Ailona Tsik, Chief Marketing Officer of Alchemy Pay, emphasized the importance of South Korea in the company’s global growth plans. She described the nation as a "pivotal hub in Asia for both traditional finance and digital currency adoption" and noted that securing this registration aligns with Alchemy Pay’s mission to bridge the gap between traditional and digital financial ecosystems.

“As a pivotal hub in Asia for both traditional finance and digital currency adoption, Korea represents a tremendous opportunity for Alchemy Pay’s long-term growth. We are excited to work alongside local partners to provide enhanced, localized payment solutions that cater to the needs of Korean consumers and businesses. This move further solidifies Alchemy Pay’s commitment to expanding our global presence while adhering to local regulatory standards.”

The approval of Alchemy Pay’s Electronic Financial Business registration positions the company at the forefront of South Korea’s evolving crypto payments sector. This move is expected to accelerate the adoption of cryptocurrency payments across multiple industries, including e-commerce, retail, remittances, and fintech services.

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