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Alchemy Pay eyes top spot in fiat-crypto payments

Alchemy

TL;DR Breakdown

  • Alchemy Pay, an upcoming platform leveraging blockchain technology, seeks to bring a new era in crypto-fiat payments.
  • The platform currently serves over 60 countries, improving functionality while solidifying ties with other platforms like Visa, PayPal, and Binance.

The chief of staff at Alchemy Pay has expressed the crypto-fiat payment platform’s plan to be a leading payment solution provider. Karmen Tang was speaking during the Lisbon Epicenter crypto conference. She gave a brief Alchemy Pay history, including its strides over the past years in improving its services. 

According to her, introducing real-world functionality to the crypto-fiat payment sector is vital for crypto adoption. Moreover, it’ll improve the potential in crypto payments and their usability in the current financial space. 

Ms. Tang said Alchemy Pay stands apart from other similar platforms. It does so through its team’s expertise, extensive partnerships, and profitable marketing strategies. So far, the platform boasts functionality in more than 60 countries globally and an array of payment options, both fiat, and crypto.

The Alchemy Pay services

Alchemy Pay boasts one of the most diverse development teams. It includes input from other known payment giants such as Tencent, PayPal, Mastercard, and others. 

Ms. Tang noted that Alchemy Pay had won the support of PayPal, Visa, Shopify, Binance, and Mastercard late last year and early this year. These collaborations are not the only ones it has garnered, expanding its reach to the Middle East. However, it explained that the information is still private due to the binding of an NDA with the said company.

Coinbase also listed its token, ACH, leading to its value boost in the crypto market. It’s one of the most significant listings besides its support from Poliniex, Changelly, Crypto.com, Gemini, CoinOne, to mention but a few.

The convenience of its services continues to surpass many expectations too. One of its notable features is the crypto-fiat fees swap bypass. It avoids the high costs of swapping crypto to fiat and vice versa. Thus, it further reduces transaction fees on its platform.

Its collaboration with Visa and Mastercard allows it to issue credit and debit cards for merchants and buyers. Furthermore, merchants can step in and issue them to their clients to incentivize the card’s use. As such, anyone who uses the card stands to earn rewards for the same.

Shifting the weight in the blockchain sector

One of the reasons for Alchemy Pay’s continued expansion is its solutions for blockchain (BC) issues. On this account, it’s among the founders of the Blockchain Infrastructure Alliance (BIA) that seeks to create an interoperable space for chains. Among the innovative blockchains involved in the process were NEO, Polygon, NEAR.

The BIA project aims to lift other potential projects in the markets by injecting funds to help them launch on its ecosystem. In turn, the founding members will continue to reap fruits from the successes of the projects. But, BIA isn’t all about the BC side only as it includes nearly 30 education institutions in its development.

According to Ms. Tang, the change that the financial world requires lies in the hands of blockchain technology and cryptocurrencies. It’s up to platforms to create the bridge into the future, which Alchemy Pay focuses on. 

Edith Muthoni

Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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