Their merchant networks’ list is ever-growing and currently includes industry giants such as Shopify and Aldo. This helps to widen merchants’ consumer reach when they accept payments in cryptocurrency, without having to worry about volatility or delays with blockchain networks.Īs mentioned earlier, Alchemy Pay has a global reach of over 70 countries and 300 fiat channels. Therefore, merchants get their money’s worth, whether in fiat or cryptocurrency. Alchemy Pay has a network capable of performing instant conversion rates. Some merchants require payments in local currency. This flexibility payments provides the best of both worlds to payment ecosystems. What Is Alchemy Pay?Īlchemy Pay is a hybrid payment system that incorporates fiat and cryptocurrency payments. Effectively, merchants access online and offline instant conversion to fiat currency through Alchemy Pay, while customers make payments for everyday goods and services in crypto. With a global reach of over 70 countries and 300 fiat channels, Alchemy Pay is pioneering the world’s first-ever hybrid payment system. However, crypto’s volatile prices leave the larger population unsure whether it’s a good investment to make.Įnter Alchemy Pay, a payment gateway that bridges the gap between the crypto and fiat worlds. However, the transition to a fully digital-based payment system globally requires competitive adoption by two players: merchants and consumers.Īlthough an increasing number of merchants are adopting blockchain-based schemes, most still use traditional payment methods such as debit cards and credit cards - while consumer interest in cryptocurrencies seems to have reached an all-time high. Since cryptocurrency is decentralized, the need for third-party institutions, which tend to make payments slower and more costly, is eradicated. We do not give advice on financial products.The crypto world is transforming the way we play, work and interact with one another. The virtual cards, which can be linked to digital wallets such as Google Pay and PayPal, will be accepted across millions of global merchants that use the Visa and Mastercard networks.ĭisclaimer: The views and opinions expressed by the author should not be considered as financial advice. The payment gateway also unveiled the proposed launch of virtual crypto-linked cards that will support and accept more than 40 cryptocurrencies. “It is crucial to the success of our payment gateway solution that the value of ACH is accurately shared throughout the ecosystem.Īlchemy Pay recently partnered with Binance to ‘build a bridge’ between crypto and fiat currencies through the Binance Pay wallet. “The accuracy of Chainlink Price Feeds is underpinned by the robust technology Chainlink has deployed to protect against downtime and manipulation,” he said. The integration enables users to buy crypto on DEXs such as UniSwap and SushiSwap, and open collateralised loans on leading DeFi lending platforms directly from their wallet using its native token ACH.Īlchemy Pay chose Chainlink price feeds to ensure that wallet users receive ‘fair market exchange rates’ when purchasing and swapping assets on DEXs and that loans taken out against ACH remain stable.Īlchemy Pay is now using to provide users enhanced trading on DEXs and acquire loans in leading DeFi lending platforms.Īccording to Alchemy Pay, Chainlink has become a key component in its payment gateway system and has enabled the hybrid fiat and crypto gateway to provide users with access to highly sought-after features.Īlchemy Pay CEO, John Tan, spoke of the importance of Chainlink to the success of Alchemy Pay’s gateway solution. The move will provide wallet users with access to loans on DeFi platforms, as well as purchases and swaps on leading decentralised exchanges (DEXs). Binance-partnered payment gateway Alchemy Pay has integrated Chainlink price feeds.
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