Alchemy Pay, the crypto payments firm, is in the process of formalising an accession agreement with Worldpay for its Swiss entity, Alchemy Pay AG, according to an internal email thread that has been submitted to this publication. The correspondence, spanning May to August 2026, reveals the compliance and legal groundwork being laid as the company pursues a Markets in Crypto-Assets (MiCA) licence in Malta.
The accession and the regulatory backdrop
The email thread shows Worldpay’s relationship team requesting clarifications on Alchemy Pay AG’s legal opinion, which covers the jurisdictions the Swiss entity is permitted to serve. Worldpay’s legal team raised concerns about speculative language in an earlier draft, asking for firm jurisdiction-by-jurisdiction conclusions rather than assessments framed around possibility. Alchemy Pay subsequently revised the document and confirmed that its Swiss entity does not service EU or EEA users, a position material to MiCA compliance obligations.
A separate due-diligence query flagged that Hungary, an EU member state, had appeared in Alchemy Pay AG’s regional transaction breakdown at three per cent of volume. Worldpay asked for a recalculated breakdown excluding Hungary, consistent with the Swiss entity’s stated policy of not serving EU jurisdictions.
The Malta transition plan
Alchemy Pay outlined a two-stage structure to Worldpay. In the near term, Alchemy Pay AG operates under an accession agreement covering non-EU jurisdictions only. Once a MiCA licence is granted to the Malta entity, Alchemy Pay Malta would contract directly with Worldpay and absorb the global servicing footprint, at which point the Swiss entity’s commercial relationship with Worldpay would cease. The company acknowledged it could not provide a firm timeline for the Malta licence, given regulatory approval is subject to the discretion of the relevant authority.
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