Alchemy Pay is a payments solutions provider based in Singapore. The firm is poised to bridge the gap between fiat and cryptocurrency global economies through its ability to facilitate fiat-crypto purchases in 170 countries. The firm uses methods such as Visa, Mastercard, regional mobile wallets and domestic transfers to power its operations in fiat-crypto purchases. Alchemy Pay has comprehensive coverage in Europe, South East Asia as well as Northern and Latin America where the firm’s activities are a crucial payment solution to support web3 platforms in enabling users to buy and sell crypto from within their apps. The firm also has plans to focus on emerging markets. Alchemy Pay supports more than 170 countries while utilizing more than 300 payment channels that collectively process more than 50 fiat currencies as well as all cryptocurrencies available publicly.
Alchemy Pay has recently received a $10 million investment from market maker DWF Labs. At a $400 million market valuation, the firm has its plans focused on expanding its business in South Korea. It is important to note that South Korea has a high acceptance for crypto and the firm is capitalizing on this to facilitate local firms in achieving their business goals. Alchemy Pay has in the past worked with other payment companies like Visa, Mastercard, Apple Pay and Google Pay. The payments provider is garnering adoption from other firms, the latest being OKX that integrated Alchemy Pay into its platform to make it easier for users to purchase crypto using their local currencies.
According to DWF Labs’ managing partner, the current bear market in the crypto industry is the right time for joining the investment space. The managing partner also expressed that DWF Labs has made enough profits from its funds and is looking to invest in projects. DWF Labs has recently made a streak of sizeable investments into numerous firms. In a very short span of time, the investor has given out a total investment of $165 million to other firms in the crypto industry.
Alchemy Pay has its own native token, ACHP, whose current market cap sits at around $180 million. Using this infrastructure, the firm also powers other web3 startups including Polygon, Near, Bitkeep, Arbitrum, Token Pocket and Bit Store among others. The firm also provides access to limitless trading by guaranteeing liquidity from its top exchange partners including Kraken, Binance and Coinbase.
Apart from facilitating fiat and crypto payments, Alchemy Pay also provides an NFT checkout service that accepts more than just credit cards to enable users to easily purchase NFTs directly from the platform’s global payment network. The platform also has an API for developers and firms who wish to integrate Alchemy Pay solutions into their platforms with few lines of code. The platform’s API framework offers simplicity in integrating ramps and does not require the use of an SDK. Through its efforts, Alchemy Pay has acquired more than 1 million product users and more than 20 000 event participants. In total, the ACH Token Family has more than 400 000 investors and community users. With the new funds in place, the platform is set to expand tremendously given that it is expanding into a market with a high level of crypto acceptance.
