Alchemy Pay’s unique encrypted fiat currency payment solution disrupted the industry – Sponsored Bitcoin News
On November 6, 2021, Karmen Tang, Chief of Staff of Alchemy Pay, delivered a keynote speech at the Epicenter Crypto Conference in Lisbon.
Tang introduced the audience to the brief history of Alchemy Pay and the extensive ecosystem they are now building in the blockchain infrastructure. The founder of Alchemy Pay comes from traditional payment giants such as MasterCard, QFPay, PayPal, and Tencent. “Experience, expertise and network are the keys to what Alchemy Pay does. This gives us an advantage over others in the field of encrypted payments,” Tang said.
Significant network growth
In the past year, Alchemy Pay has achieved significant growth and gained new partnerships, including access to PayPal payment channels in the fourth quarter of 2020, and Visa and Mastercard payment channels earlier this year.
Today, Alchemy Pay is available in more than 60 countries/regions and provides more than 200 payment channels for legal and encrypted acceptance. The industry still faces a lack of real-world use cases. In order to solve this problem, Alchemy Pay acts as a bridge for realizing transactions between cryptocurrencies and fiat currencies.
Tang went on to explain that Alchemy Pay’s payment ecosystem is divided into four categories: customers and consumers; merchants and institutions; transaction service providers; and software technology developers. These are some of the different areas of the blockchain infrastructure that Alchemy Pay can integrate.
In the past year, Alchemy Pay has established partnerships with Shopify and Binance. Their ACH token was launched on Coinbase this summer, and its value has increased by 150 times. ACH is now also supported by Gemini, Crypto.com, Poloniex, CoinOne and Changelly. Their social media communities have also increased significantly, with more than 200,000 followers on Twitter, Telegram and Reddit.
Tang also revealed that Alchemy Payment has recently established a new joint venture with one of the largest conglomerates in the Middle East. However, due to a non-disclosure agreement, the name of the group could not be disclosed.
Hybrid solutions for modern finance
Alchemy Pay’s hybrid payment solution allows daily encrypted payments, regardless of size, and the ability to bypass expensive Interchange means that compared to traditional digital payments, Alchemy Pay merchants can save 50-70% of fees. The merchant will receive the money within two to three days.
White label products
Alchemy Pay provides white label products, such as encrypted link cards, and enables companies to issue their own loyalty tokens. Merchants can issue virtual cards associated with MasterCard and Visa, and reward users with their own brand tokens when spending with them. Tang said: “We recognize that this field has great potential, and what blockchain provides in terms of tokenization makes us very excited.”
Blockchain Infrastructure Alliance
Today’s encrypted payment space is still fragmented and lacks comprehensive interoperability. With this in mind, Alchemy Pay and other founding members-Polygon, NEAR, Near-Earth ObjectsAnd Conflux together with other investment veterans and incubators Blockchain Infrastructure Alliance (BIA) and jointly promote the blockchain industry.
By bringing together thought leaders, innovators and entrepreneurs, BIA will create countless synergies among members in all fields and establish pooled resources for promotion, research and development. BIA will work with selected public blockchain members to create an ecosystem fund to incubate projects, with the overall goal of advancing cryptocurrency functions. This move enables the co-branded ecosystem fund to attract high-quality projects, while cooperating public blockchains can enjoy additional products and services built on its network. BIA will work with more than 30 scholars from top universities around the world who will help determine the best opportunities for solutions and development.
The social benefits of cryptocurrency payments
Cryptocurrency is gradually subverting traditional finance, and in the process it has released trillions of dollars in opportunities, which will benefit the entire society. Karmen Tang concluded her keynote speech with firm conviction, “When we look to the future, we envision a world where people can gain greater financial empowerment, inclusiveness, and transparency regardless of geography or status. We know this It won’t happen overnight, but Alchemy Pay’s encrypted fiat currency solution can play an important role by seamlessly making encrypted payments.”
About Alchemy Pay
Alchemy payment It is an integrated fiat and cryptocurrency gateway solution provider, providing seamless encryption and fiat currency acceptance capabilities for merchant networks, developers and financial institutions. The company promotes the adoption of blockchain technology by making it easy for consumers and institutions in the statutory economy to obtain crypto investment, commercial transactions, and DeFi services. Today, Alchemy Pay supports 200 payment channels in more than 60 countries/regions and has established connections with more than 2 million merchants through cooperation with industry giants such as Binance, Shopify, Arcadier, and QFPay.
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